Security of Funds
In order to promote the security of funds for Customers, IKON Group has designed various financial products and account types.
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.
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 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(about $140,000) by the UK Government through the FSCS .
IKON Custodial Accounts:
IKON Custodial Accounts are developed in partnership with Deutsche Bank. 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 for their global reach, strong balance sheet, financial markets experience and most importantly, skilled professionals eager to provide solutions.