The Financial Services Compensation Scheme (FSCS) is the UK's statutory fund of last resort for customers of UK authorised financial services firms. This means that the FSCS can pay compensation if a member firm such as Saxo Capital Markets UK Limited is unable, or likely to be unable, to pay claims against it. FSCS is an independent body, set up under the Financial Services and Markets Act 2000 (FSMA). The FSCS is funded by levies paid by firms authorised by the UK Financial Services Authority and therefore the service is free to consumers.
Saxo Capital Markets as an FSA authorised and regulated firm, it is covered by the Financial Services Compensation Scheme. You may be entitled to compensation from the scheme if we cannot meet our obligations. The level of coverage depends on the type of business and the circumstances of the claim. In the unlikely event of Saxo Capital Markets’ insolvency clients are covered for up to a maximum of a 100% of the first £50,000. This means that the maximum compensation payable is £50,000 per person. Further information about compensation arrangements is available from the Financial Services Compensation Scheme, 7th Floor, Lloyds Chambers, Portsoken Street, London E1 8BN.