Brexit: what you need to know

The Brexit transition period is now over, this is what you need to know.

Contents

Brexit for existing EU customers

What changes in your relationship with FCA-regulated Darwinex? In short: if you're already a customer, nothing.

  1. The FCA continues to protect your right to trade with us.
  2. Your monies remain with Santander UK, Natwest Bank or Sabadell UK in London.
  3. Your funds enjoy FSCS deposit protection and Lloyd’s insurance for up to GBP 500,000.

Brexit doesn’t impair your right to trade with counterparties in 3rd countries outside the EU. You could trade with Australian brokers, you continue to enjoy the right to trade with UK brokers.

Brexit for new EU customers

For Darwinex, Brexit scenario means restrictions to market to new EU customers with our FCA entity. We’ll shortly share details of our new license in the EU, which will offer identical conditions to our UK entity.

Our FCA-regulated UK entity will continue accepting EU customers whenever reverse solicitation applies. Reverse solicitation means traders and investors approaching us on their own initiative, with the intention of investing (or initially in receiving information) and us (nor any intermediary acting on our behalf) not having solicited the investor to invest.

Brexit FAQ

Feel free to send to info@darwinex.com any questions you might have and we’ll answer them for everyone’s benefit!

Question

Answer

What will happen to my money? Will it have the same protection as it had until now?

Your monies remain with Santander UK, Natwest Bank or Sabadell UK in London. Your funds continue enjoying FSCS deposit protection and Lloyd’s insurance for up to GBP 500,000.

Will I still be able to use all of Darwinex's services?

As an existing customer, you'll continue to be able to use all our services. Restrictions may apply to customers of our future EU entity, e.g. initially it probably won't include the Interactive Brokers offering.

Will I remain a customer of the FCA-regulated company or will I be transferred to the EU-regulated company?

We won't automatically transfer customers between entities but will define a procedure to transfer them if they wish to be transferred.

I'm an EU resident. Will I be able to open a new account with your FCA entity?

Yes, provided you didn’t engage with Darwinex as a result of any of our advertising campaigns - under the reverse solicitation provisions applicable to financial providers in 3rd countries. Reverse solicitation means traders and investors approaching Darwinex on their own initiative and Darwinex not having solicited them to trade or invest.

Your question? Feel free to send to info@darwinex.com any questions you might have and we’ll answer them for everyone’s benefit!

Brexit webinars and podcasts