The investments of customers whose business is directed to MEX Europe (acquisition by the Group is subject to FCA approval) is regulated by the FCA under license number FRN 481068 are insured up to £50,000.00 per eligible claimant for financial losses in the unlikely event that MEX Europe Limited (acquisition by the Group is subject to FCA approval) is regulated by the FCA under license number FRN 481068, were to have any financial difficulty. The FSCS was setup under the Financial Services & Markets Act 2000 and insures all retail clients investments up to £50,000.
MultiBank grants trading lines on foot of Bank Guarantees or Bonds issued to it. In such a manner the Customer Funds remains with the Customers Bank Accounts and the Customer can trade with the Trading Line given by Multibank to the Customer.
The funds are deposited with a reputable Custodial Financial institution both in the name of the Customer and MultiBank. Thereafter the Customer is given a Trading Line according to the amount of the funds deposited with the Custodial Financial Institution. At the end of settlement period, the Customers PL is calculated and settled either through the Custodial Financial Institution or by transfer directly to the Customer Bank Account.
Multibank offers institutional customers, brokers and banks a settlement facility to increase their level of funds security by fixing the Net Open Position Limited (NOP) on the Customers trading account. The settlement facility will facilitate the granting an agreed NOP limit with no margin check which will leverage up the trading account of the Customer and fix the NOP despite any market movements (changes to the P&L).
The Customer who uses the settlement facility will deposit a cash guarantee amount with Multibank which shall be segregated in a separate guarantee account.
Depending on the P&L statement of the Customer’s trading account, MultiBank and the Customer shall settle at the end of an agreed period according to the P&L statement. In the event the Customer does not settle the P&L in a timely manner, Multibank will use the funds in the Customers cash guarantee account to maintain the NOP of the account.