At XFORCE MARKET PRO safeguarding of clients funds is our top priority. The highest protection level is ensured through deposits in segregated accounts with large, solvent European banks such as Eurobank.
XFORCE MARKET PRO would like to assure its clients that it maintains segregated bank accounts with European credit institutions to hold client funds . These accounts are 100% liquid current accounts so that funds held can be readily sent on a same day basis. The financial institutions used are selected on the basis of financial soundness while additional safety is ensured through diversification. Furthermore, XFORCE MARKET PRO has established an adequate organizational arrangement designed to minimize the risk of loss or diminution of client assets, or of rights in connection with those assets, as a result of misuse, poor administration or negligence of the banking institutions themselves.
According to Directive DI144-2007-01 regarding authorization and operating conditions of Cypriot Investment Firms (CIFs), for the purposes of safeguarding clients’ rights in relation to funds belonging to them, CIFs are required to follow all necessary steps designed to ensure that client funds are deposited in an account or accounts identified separately from any accounts used to hold funds belonging to the Company. To this end, client funds deposited with XFORCE MARKET PRO are fully segregated from the Company’s funds and such funds cannot be used for any other purpose. Further, XFORCE MARKET PRO keeps such records and accounts as are necessary to enable it at any time and without delay to distinguish assets held for one client from assets held for any other client (and from its own assets) in accordance with the requirements of the aforementioned Directive.
Yes. As required by the Investment Firms Laws of 2002-2004 XFORCE MARKET PRO is a member of the Investor Compensation Fund, set up by the Central Bank of Cyprus and the Cyprus Securities and Exchange Commission for all clients of Cypriot Investment Firms. The purpose of the Investor Compensation Fund is to secure the claims of all covered clients, in this case retail clients, through the payment of compensation where the investment firm is unable to:
This ensures that retail clients of XFORCE MARKET PRO can claim compensation in the event that the Company is unable to fulfil its obligations. In effect, all covered clients are provided with a form of insurance for their funds in case of insolvency on the part of the Company. For more information you are encouraged to read the document titled Protection of Client Funds & Investor Compensation Fund.
XFORCE MARKET PRO annual reports are signed by M Marnerou & Co Ltd. Its internal audits are carried out by Ernst & Young.
XFORCE MARKET PRO is regulated and licensed by the Cyprus Securities and Exchange Commission (CySEC) with license number 171/12. CySEC is a European Competent Authority that regulates, supervises, and controls Cypriot Investment Firms. In addition to all applicable local laws, rules, and regulations the Commission enforces European Directives, such as MiFId, by issuing corresponding local directives and circulars. As a licensed Cypriot Investment Firm, XFORCE MARKET PRO follows strict rulings in order to comply with its requirements in relation to the safety of client funds.
