Security of Funds

In order to promote the security of funds for their Customers of IKON Group has now put into place various financial products and account types which seek to provide certain protections sought by IKON Group's retail and institutional Customers.

There are different solutions offered by IKON Group to facilitate Customers that seek such protections in relation to their security of funds when trading. These financial products can be utilized individually or collectively to ensure the highest possible security of funds for our Customers.

Segregated Funds:

  • As per the regulatory requirements, Customer funds are segregated into a special Customer account and are separated from IKON Group's capital accounts.
  • The Customer's funds are placed in a segregated bank account(s) of major international banks, and are not allowed to be used for any purpose except for the trading of the Customer(s).
  • Pursuant to the regulatory requirements, IKON is required to treat all Customer money as Customer property; to account separately for and segregate Customer money, securities and property; and not to commingle those assets with the operating assets of IKON Group.

Deposit Guarantee:

  • IKON Group is pleased to announce a deposit guarantee for retail customers supported by the Financial Services Compensation Scheme (FSCS).
  • The FSCS is the UK's Governmental Statutory Fund of last resort for customers of authorized Financial Services Firms. This means that FSCS can pay compensation if a firm is unable, or likely to be unable, to pay claims against it.
  • The FCA guarantees safety of funds for customers up to GBP 85,000 (about $140,000), per each account.This means that in the unlikely event that the IKON Group is unable to meet its financial obligations all eligible retail Customers are offered a full guarantee on the safety of their funds by up to GBP 85,000 by the UK Government through the FSCS (about $140,000).”

IKON Custodial Accounts:

  • IKON Custodial Accounts are developed in partnership with Deutsche Bank and Union Bank of Switzerland (UBS). The new account type allows large corporate and individual clients to execute with IKON, while maintaining their funds through the Custodial Bank. Custodial Accounts are held with the Custodial Bank in the name of the Corporate Customer. The Customer will have an exclusive and separate account number with the Custodial Bank and deposit funds directly with them. By maintaining this independent banking relationship, Corporate Clients can add a layer of security in the unlikely event of IKON failing to meet its obligations. In an effort to provide our global corporate clients an added layer of safety for their funds, IKON sought to develop innovative solutions with our banking partners. After reviewing several options, IKON selected Deutsche Bank and UBS for their global reach, strong balance sheet, financial markets experience and most importantly, skilled professionals eager to provide solutions.
FCA

MultiBank Australia

• MultiBank Australia is authorized and regulated by the Australian Securities and Investments Commission ("ASIC") with license no 416279.

 
NASDAQ

IKON USA (USA)

• Exclusive Partner with NASDAQ.

 
FCA

IKON Finance (UK)

• Authorized and regulated by the Financial Conduct Authority in the UK with license number 525113.

 


Tianjin Government

IKON Financial Services Corporation (People’s Republic of China)

• Authorized and regulated by the Financial Government of Tianjin, China. IKON’s headquarters in China is in Tianjin with a major branch in Beijing. IKON Group also maintains a heavy presence in Hong Kong through affiliated company IKON International.

 
Security of Funds

In order to promote the Security of Funds for the customers, IKON Group has now put into place various financial products and account types which seek to provide certain protections sought by IKON Companies’ retail and institutional customers.

There are different solutions offered by IKON Group to facilitate customers that seek such protections in relation to their security of funds when trading. These financial products can be utilized individually or collectively to ensure the highest possible security of funds for our customers.

The IKON Group utilizes no less than 8 schemes of Security of Funds to ensure the absolute Security of Funds of its customers.

* In accordance with local rules and regulations, IKON Group companies give utmost importance to secure client funds. One or more of below methods may be offered towards your deposits which you can consult your account executive for further information.

The Strictest Financial Controls Through our Worldwide Regulatory Status

In order to protect the Safety of Funds of our Clients, the Board of Directors in IKON Group, took and implemented the significant decision to cause the IKON Group of Companies to be heavily regulated worldwide by governmental authorities.

Worldwide Regulatory Status

To this end, it is incumbent upon the IKON Group of Companies, through its Worldwide Regulatory Status, to uphold the world’s highest standard of financial integrity conduct including, but not limited to, meeting the strictest capital adequacy requirements, segregation of funds, submitting detailed financial reports to regulators on a regular basis, undertaking robust and independent annual audits by the top auditing firms.

Not all Forex companies are regulated by appropriate financial regulators in their countries. It's important to pay attention to the Forex Regulation and any financial regulation which requires, as it'll determine the level of security and protection of your investment.

IKON Group comprises a number of companies, spread on 5 different continents, most of which are heavily regulated by various Governmental Financial Authorities, upholding strict financial Compliance and Regulations worldwide, which include, but are not limited to:

 
Commodity Futures Trading Commission
NFA
NASDAQ

IKON Global Markets (USA)

• Regulated by the Commodity Futures Trading Commission (CFTC).
• Member of the National Futures Association (NFA No.0327622).
• Partnership with NASDAQ.

 
FCA

IKON Finance Limited (UK)

• Authorized and regulated by the Financial Conduct Authority in the UK.

 
Financial Markets Authority

IKON NZ (New Zealand)

• IKON NZ is authorized and regulated by the Financial Markets Authority of New Zealand(FMA).

 


IKON Asia(UAE)

IKON Asia (UAE)

• Regulated by Ras Al Khaimah Free Trade Zone (RAK) (No. 2993)
• Member of the Dubai Gold and Commodities Exchange (DGCX) (DGCX No.0091)

 


Tianjin Government

IKON Financial Services Corporation (People’s Republic of China)

• Authorized and regulated by the Financial Government of Tianjin, China. IKON’s headquarters in China is in Tianjin with a major branch in Beijing. IKON Group also maintains a heavy presence in Hong Kong through affiliated companies, IKON Group Worldwide Public Limited Company and IKON International.

 
FCA

MultiBank Australia

MultiBank Australia is authorised and regulated by the Australian Securities Investment Commission ("ASIC") with license number 416279.

 

Segregation of Funds

Segregation of Funds

As per the regulatory requirements, customer funds are segregated into a special customer account and are separated from IKON Group of Companies capital accounts.

The customer’s funds are placed in a segregated bank account(s) of major international banks, and are not allowed to be used for any purpose except for the trading of the customer(s).

Pursuant to the regulatory requirements, IKON Group of Companies are required to treat all customer money as Customer property; to account separately for and segregate Customer money, securities and property; and not to commingle those assets with the operating assets of IKON.

 

Exchange Funds Protection

Through a Joint Venture between IKON and NASDAQ, In November 2011, IKON became the first company in the world to offer Gold Trading through the NASDAQ Exchange. The new product is named the IKON NASDAQ Gold. The NASDAQ IKON Joint Venture was developed in accordance with the USA Financial Reforms. The Board of IKON felt it incumbent upon that, for increased Security of Funds, for the Gold trading to be transferred from an OTC product to a Gold Product. Client funds have all the protections afforded to futures account holders and will be held by the clearing house Options Clearing Corporations (One of the world’s largest clearing houses), with a AAA credit rating.

Exchange Funds Protection
 

Deposit Guarantee

Deposit Guarantee

IKON Group is pleased to announce a deposit guarantee for retail customers supported by the Financial Services Compensation Scheme (FSCS).

The FSCS is the UK's Governmental Statutory Fund of last resort for customers of authorized Financial Services Firms. This means that FSCS can pay compensation if a firm is unable, or likely to be unable, to pay claims against it.

The FCA guarantees safety of funds for customers up to GBP 85,000 (about $140,000), per each account.

This means that in the unlikely event that the IKON Group of Companies are unable to meet its financial obligations all eligible retail Customers are offered a full guarantee on the safety of their funds by up to GBP 85,000 by the UK Government through the FSCS (approximately US $140,000).

 

FX-Futures (Secured) Account

This is applicable for Customer accounts in excess of GBP 85,000 (about $140,000 ).

Customers would open a Futures Account with IKON Group of Companies. Such funds are segregated and maintained at an international AAA Banks in clearly identified "Segregated funds" accounts separate and apart from any other funds.

Futures Account monies will be protected according to a different set of Customer money protection rules than that of the FX Retail Accounts. In other words, these funds are treated as Secured Funds or Exchange Funds and are 100% protected by clearing houses and exchanges, as applicable.

The AAA bank signs a written acknowledgment that:

  • The segregated funds are held in the account in accordance with the regulations, and;
  • The AAA bank will not hold, dispose of, or use any of the segregated assets for anyone, other than the Customers.
FX-Futures Account
 
Real Time Record

IKON Group shall keep a "real time" record of these funds and every business day, the total amount of Customer assets required to be segregated and the total amount of assets actually deposited in segregated accounts, is calculated as of the close of the previous business day.

The Customer will sign a document charging these secured amounts to IKON. In turn, IKON will grant the Customer a trading line to enable the Customer to trade Spot Forex.

In short, the secured funds of the Customer lodged in the Futures Account would be used as collateral to enable the customer to trade Forex.

On an ongoing basis, IKON Group of Companies’ Back office will reconcile the accounts and settle the P/L between the Customer and IKON.

 

Acceptance of Bank Guarantees as Collateral Facilities for Trading and/or the Secured Investment Facility

The Customer will buy a secured investment facility, including U.S. Treasury Bills (as applicable to initial margin only), municipal securities, government sponsored agency securities, certificates of deposit or money market mutual funds.

The Customer will sign a document charging these Secured Investment amounts to IKON Group of Companies. In turn, IKON Group will grant the Customer a trading line to enable the customer to trade Spot Forex.

In short, the secured funds of the Customer lodged in the Futures Account would be used as collateral to enable the Customer to trade Forex.

On an ongoing basis, IKON Group’s Back office will reconcile the accounts and settle the P/L between the customer and IKON Group of Companies.

The Secured Investment Facility
 

Funds deposited in investment grade banks

IKON Group is partnered with investment grade European banks that enjoy some of the highest ratings by Moody's, Fitch and S&P. Using global banks such as HSBC, JP Morgan, Citi bank, Standard Chartered, Morgan Stanley, Barclays, Deutsche Bank ensures that funds deposited carry the lowest credit risk available in the market.

Funds Deposited In Investment Grade Banks

Insurance

For added security of funds, some of the IKON Companies maintain Insurance policy for substantial funds through Lloyd of London, wherein under the said insurance policy the IKON Company is insured for professional indemnity, natural disaster, wrongful act of employees, fraud and any monetary loss.