Following CySEC strict rules, IGM Forex Ltd keeps client funds with Tier-1 banks in segregated accounts, thereby safeguarding against their use for any other purpose. In the unlikely event of liquidation, segregated funds cannot be used to pay creditors and must be returned to clients directly. Therefore, rest assured that all clients’ funds are intact with us
Negative Balance Protection
As per CySEC National Product Intervention Measures (“NPIMs”), the Company adopts a negative balance protection per-account basis, so that retail clients cannot lose more than the total funds in their trading account. The purpose of negative balance protection is to ensure that an investor’s maximum loss from trading CFDs, including all related costs, are limited to the total funds related to trading CFDs that are in the investor’s CFD trading account. This should include any funds yet to be paid into that account due to net profits from the closure of open CFDs connected to that account. An investor should not incur any additional liability connected with its trading of CFDs. Other accounts should not be part of the investor’s capital at risk.
IGM Forex Ltd applies Negative Balance Protection to its retail clients.
Investor Compensation Fund
IGM Forex Ltd is a member of the Investor Compensation Fund, (ICF) a scheme which aims to protect eligible retail clients and compensate them if the company is unable to return funds and financial instruments belonging to those clients, due to financial problems, as applicable. Click here to read more about the ICF.
To prevent money laundering, organizations performing operations with money or other property are obligated to comply with all requirements of Law 188(I)/2007-2018, (and especially Article 58), and of the CySEC Directive DI144-2007-08. Companies should verify the identity of clients and assist government agencies and financial organizations working to combat money laundering. IGM Forex Ltd does everything required to ensure compliance with laws against money laundering and financing terrorism.
As per CySEC requirements and anti-money laundering requirements, every client without exception must provide KYC documents. In this event, IGM Forex Ltd may ask you for personal data and take steps to confirm the accuracy of this information using a verification system. The personal data we receive is handled in accordance with the provisions of the Privacy Agreement. To better protect IGM Forex and its clients, these policies have been applied. Contact IGM Forex for further questions/comments regarding these policies. Email at firstname.lastname@example.org.
The Company is committed to safeguarding the information / Personal Data it collects, uses and/or holds in accordance with the provisions of the European General Data Protection Regulation EU 2016/679 (hereinafter ‘GDPR’) and any regulations of the Republic of Cyprus which implement or supplement the GDPR.
The Personal Data collected by the Company might include, but not limited to:
- Personal information provided to us on applications and other forms, such as name, surname, address, e-mail address, phone number, date of birth, gender, occupation and employment details;
- Financial information such as income, assets and net worth;
- IP address
- Bank account, e-wallets and credit card details, tax information
- Documents that provided to us to verify the identity, such as passport/identity card, utility bills and/or bank statement or company incorporation details.
The Company shall ask for the Client’s consent regarding the provision of marketing information in relation to the products and services offered. Client consent is provided by signing the Client agreement between the contractual parties. The Client may withdraw such consent at any given time by sending an email to email@example.com.