Regulation & Money Safety
      Back to home
      1. Darwinex Docs
      2. Your Darwinex Account
      3. Regulation & Money Safety

      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 and / or Natwest Bank UK in London.
      3. Your funds enjoy FSCS deposit protection and Lloyd’s insurance for up to GBP 1.000,000.

      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. New EU clients willing to use our services will be onboarded through our EU (CNMV) licence, which will offer similar conditions to our UK entity.

      Although new EU clients will be automatically redirected to our EU (CNMV) regulated 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 money remains with Santander UK and / or Natwest Bank in London. Your funds continue enjoying FSCS deposit protection and Lloyd’s insurance for up to GBP 1.000,000.

      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 apply to customers of our EU (CNMV) entity, e.g. initially it does not 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. 

      EU clients willing to trade under our EU (CNMV) regulated entity need to sign up through our website and follow the KYC process for EU clients. 

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

      New EU clients will be automatically redirected to our EU (CNMV).

      Please note, however, that 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