Client money

Key points
Money held on behalf of clients is distributed across a range of major banks which are regularly assessed against HonorFX risk criteria.
HonorFX does not lodge retail client money towards margins with its hedging counterparties
HonorFX is regulated by the FSA.

Are my funds segregated?

HonorFX is authorised and regulated by the Financial Services Authority in Saint Vincent & the Grenadines.

When you open an account with HonorFX you are classed as a retail client, unless you receive notification of another status and explicitly consent to ‘title transfer’ of your funds to HonorFX .

Retail client money is held separately from HonorFX own funds so that under property, trust and insolvency law, client money is protected and therefore unavailable to general creditors of the firm, if the firm fails

What happens to my money if HonorFX goes into liquidation?

In the event of Honorfx liquidation (known as primary pooling), retail clients would have their share of segregated money returned, minus the administrators’ costs in handling and distributing these funds.

What happens to my money if a bank holding client money on behalf of HonorFX goes into liquidation

In the event of a bank liquidation (known as secondary pooling), losses would be shared by clients in proportion to the share of funds held with a bank which has failed.Funds lost as a result may be compensated up to a limit of $100,000 per person, per institution, subject to other balances held with the bank in question.
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