Your money is held in safeguarded accounts

Customer funds are safeguarded in accordance with FCA e-money regulations. Funds are held in segregated accounts with UK-authorised banks, separate from Bound's own operational funds. Once funds are reserved or due for settlement — for example in connection with an FX forward contract — those funds are no longer subject to safeguarding protections, as they are at that point being applied to complete your transaction rather than held on your behalf.

Regulated FX Contracts and Client Money 

In connection with a Regulated FX Contract only where your hedge is ‘in the money’, Bound will calculate and segregate an equivalent sum  as 'Client Money' and will protect such money in accordance with the FCA client money rules. In connection with a Regulated FX Contract only margin you post with Bound may also be held as Client Money. We will segregate such money in a separate bank account with a reputable bank.The bank account will be opened in Bound's name but for your benefit. This is called a 'client money bank account'

Please see more detail on when and how your Client Money is protected at https://bound.co/legal/bound-terms-and-conditions 

If you require a breakdown of the exact amounts of your safeguarded funds or client money at a particular point in time, please do not hesitate to contact your account representative or email help@bound.co.

FSCS Protection

The regulatory status of individual products and services may vary. Customers should review their account terms and contractual documentation to understand which services are regulated and whether they are eligible for protection under the Financial Services Compensation Scheme (FSCS).

Where applicable, eligible client money related to regulated FX hedging is protected by the FSCS up to £120,000 per eligible customer, per authorised institution. Check your eligibility at https://www.fscs.org.uk/making-a-claim/claims-process/eligibility-rules/ 

Funds relating to our e-money business are safeguarded in segregated accounts in accordance with regulatory requirements. Electronic money accounts are not deposits and are not covered by the FSCS.