Admirals Cyprus ups client balance insurance to €100K
Admirals Cyprus, the CySEC licensed arm of global FX broker Admirals (which recently rebranded from Admiral Markets) has announced that effective last Monday, March 1, 2021, its client funds protection insurance policy for Admirals Cyprus clients was established.
From now on, client money at the company is protected up to €100,000. The insurance policy is written by Lloyd’s of London.
Insurance benefits automatically extend to Admiral Markets Cyprus Ltd clients, with no actions necessary, and no additional fees or costs added.
The company said that this new insurance is a component of its full security offer, along with segregated client money accounts at some of the biggest banks in the world (no Cyprus banks), EU-wide negative account balance protection for Retail Clients (following CFD regulation in EU), and a Negative Account Balance Protection Policy concerning CFD trading risks for Professional Clients.
What is covered: Only the eligible securities and cash of Admiral Markets Cyprus clients in the event of an Insolvency.
What is not covered: Investment/Trading performance is not covered.
The company noted that this is one more way that Admirals Cyprus go the extra mile to make sure client funds are protected. The standard client protection via the ICF (Investor Compensation Fund) is limited up to 20,000 EUR to a covered client.