In the UK Currencies Direct is authorised by the Financial Conduct Authority as an Electronic Money Institution (“EMI”). As an authorised firm, we are required to safeguard client monies by holding those monies in a segregated client account, separate from our own business accounts. These accounts are designated as client accounts and protected in the event of our insolvency or the insolvency of the banks we use to hold the client funds.
Our safeguarding obligations are outlined in the FCA Approach document which can be found here.
