Darwinex provides free supplementary insurance that covers FSCS eligible clients up to a total of GBP 1,000,000 versus the standard protection of just GBP 85,000. The online broker that enables sophisticated traders to trade the market and investors to back them.
How Does The Darwinex Insurance Works
The UK FSCS covers the shortfall to the extent of GBP 85,000 per client. Darwinex invests in an additional insurance policy that further covers all FSCS-eligble clients up to GBP 1,000,000 per client.
In the event of Darwinex being in default following a determination made by the FSCS, the insurance company would pay to Darwinex for the benefit of its clients, an amount equal to the ultimate net loss of each claimant.
The maximum amount payable by the insurance policy to Darwinex under the policy in respect of any one claimant is GBP 1,000,000.
Who Is Eligible
In order to qualify as claimants, Darwinex customers with more than GBP 85,000 must:
- Be Eligible Claimants according to FSCS rules.
- Submit their claims to the FSCS within 12 months of the event of default’s date.
- Submit their Excess of FSCS Claim Form to the Insurance company within 12 months of the event of default’s date.
