What we do with your money
The essentials
What does famous worldwide trading do with my money?
Unlike banks, investment firms like famous worldwide trading are required to separate client money and assets from their own resources. This means that we’re not allowed to use them in the course of our business activities, and that client money is completely ring-fenced and protected in the unlikely event that famous worldwide trading became insolvent.
The only clients whose money is not treated like this are clients we have classified as sophisticated persons who have signed a legal document explaining how their money and assets are held differently (this is known as 'title transfer').
What happens to the money I deposit with famous worldwide trading?
Your money is held in segregated bank accounts under trustee arrangements. This ensures that the cash remains yours, rather than famous worldwide trading’s. It also means that it’s easily identifiable as client money, so famous worldwide trading and its creditors don’t have any charge, liens, or rights of set-off or retention over it.
We have a number of segregated bank accounts at a range of credit-worthy high street banks such as HSBC. We intentionally ensure that client money is split between a number of banks, and we’re not permitted to hold it all in one place.
We may place funds in notice or term deposit accounts with a notice period or term of up to 95 days. Placing client money in notice or term deposit accounts does not in itself affect your ability to deal with or withdraw funds from your account with us, however, in the unlikely event of insolvency of famous worldwide trading, such amounts may not be immediately available upon request.
What happens to my money if famous worldwide trading goes into liquidation?
As all deposits lodged with us are held in trust for you in a regulated trust account, in such circumstances those deposits would attract all legal protections afforded to trust money.
Net unrealised running profits are also held in trust by us and would normally be similarly protected for your benefit as beneficial owner.
