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IThere are various financial products offered by the IKON to ensure safeguarding of customers' funds when trading through the IKON of Companies. These financial products can be utilized individually or collectively to ensure the highest possible security of funds for our clients, which include, but are not limited to, the following:
Retail Customers of our UK entity, IKON Capital Limited, have their cash and investment balances protected up to 100% of the first £50,000.00 (about USD 70,000) by the UK’s Financial Services Compensation Scheme (FSCS) in the unlikely event that the firm were unable to meet its obligations. The FSCS is funded by participants in the UK’s financial services industry.
As per the strict regulatory requirements dictated to IKON by various financial authorities, customers’ funds are segregated into special customers’ accounts and separated from IKON’s capital and expenses accounts.
The customers’ funds are placed in segregated bank accounts within major international banks and are not allowed to be used for any purpose other than for the customers’ to trade, because IKON is obliged, in accordance with its financial regulators, to treat all customer money as customer property, and not that of IKON.
To add an additional layer of security on our clients behalf, or applied directly by our regulators monitoring our businesses at different jurisdictions. Additional information on our insurances can be obtained from relevant support personnel.
IKON has partnered with investment grade banks for all its deposits, that enjoy some of the highest ratings by Moody's, Fitch and S&P. Using global banks such as HSBC, JP Morgan, Barclays and Lloyds ensures that funds deposited carry the lowest credit risk available in the market.