Compensation Fund ICF

Broker
Rating
Information
Spread
628.4
Rating
24 2 2
Reviews
$0
Min. Deposit
1:1000
Max. shoulder
CySEC, Financial Commission, ICF, IFSC, УЦРФИН
Spread
508
Rating
28 0 1
Reviews
$500
Min. Deposit
1:500
Max. shoulder
Spread
483
Rating
0 0 0
Reviews
$0
Min. Deposit
1:200
Max. shoulder
Spread
426.6
Rating
6 0 0
Reviews
$300
Min. Deposit
1:400
Max. shoulder
Spread
320
Rating
0 0 0
Reviews
$1
Min. Deposit
1:200
Max. shoulder
Spread

The ICF (Investor Compensation Fund) is a Cyprus investors compensation Fund, which cooperates with well-known regulator CySEC. Compensation Fund ICF carries out the payment of compensation to clients of brokers, under the regulation of CySEC, in case of confirmation of their insolvency. Is popular CySEC regulator in Cyprus, as it offers the most loyal conditions and low fines for financial companies, including broker. Valued CySEC brokers because Cyprus is in the EU, and the license of the regulator of the EU gives brokers the opportunity to trade in other EU countries. Recently, however, CySEC has come under pressure of the EU, as the EU increasingly resembles the controller on his direct responsibilities. Therefore, the Cypriot regulator had to sweep in the ranks of the unscrupulous brokerage companies, and most of the guilty have received large fines of millions, including the notorious IronFX. Prior to that, the fines did not exceed 5-10 thousand euros. Additionally, was established a compensation Fund, ICF, which will allow to compensate losses to clients of brokers CySEC declared bankrupt.

Compensation Fund ICF is able to compensate up to € 20,000 per client, regardless the number of accounts opened in the company, recognized as insolvent. It's not such a big amount. For example, the maximum payout of British compensation Fund for investors, the FSCS is £ 50,000. But that's not all. While there has not been any precedent of bankruptcy of the broker, regulated CySEC, and there is a huge possibility that the compensation Fund is not enough money to compensate all customers of the insolvent company. According to representatives of the ICF at the moment the Fund has a sum in the amount of 17.5 million euros. It's not such a big amount as the turnover of some large brokers at times exceed the size of the Fund ICF. Therefore, it can occur withituacu when the Fund does not have enough money to pay all the company's customers declared bankruptcy. But as stated by the representatives of ICF, the CySEC regulator may force other members of the Fund to cover the missing amount or contact the insurance company. However, the CySEC does not provide any information about the insured compensation Fund ICF or not.

Thus, the presence of a compensation Fund ICF is not 100% guarantee that in the event of bankruptcy of the broker under CySEC and you will be compensated. However, given the influence of the European Union by CySEC, this option is not excluded. In any case, agree that the insurance of your funds up to 20,000 euros – is also a very good option. Many brokers and regulators do not provide any compensation in the event of bankruptcy of the company. If you are going to invest larger amount of funds, it is recommended to choose a broker with a license from the British regulator FCA.