CITY INDEX / Finspreads / iii spreadbetting

[captain_69uk]

gave CI a call and they just said that barclays is their uk bank and client funds are segregated when not being used for a position. they also mentioned that they have the right to hold funds in any bank (in the world) but the girl didn;t know/ couldn't say where that might be. lol.

 

[arabianights]

arguably, of course, this could be because the UK is going to be so ****ed it might be a good thing to move funds abroad at some point!

 

[futuresbetting]

Yes I agree, no reason for anyone to panic. Futurebetting.com were much worse off, and they are not even located in UK. He injected additional capital so what is the problem? One should not keep ones whole capital at any SB, or any broker for that matter. Anyway, one is surprised that some of these SB companies don't have an inbuilt risk management system, that easily would taken care of used up credit by making a margin call.

Futuresbetting ceased trading because of Global, and within 3 days returned 100% of client funds to the client.
As we advertise all client funds are segregated, as proven they were and continue to be.

 

[riogordo]

I can confirm that FB returned my funds within a few days and have had no hesitation with refunding my account with them. I get a great deal of comfort on two levels. 1) My funds are srgregated and 2) They hedge all positions into the market, so I dont have to worry about their exposure to their clients as seems to be the case with City index.

 

[setanta]

good PR job for Futuresbetting there riogordo..!

 

[captain_69uk]

Recently checked my credit report online and found that CI have searched my file when i applied for the sb account. i was not aware that this would happen.

i'm not sure how it affects my score but under the entry it does say 'credit sale' which seems a bit odd because i was obviously not applying for any credit from them...

i'm annoyed this happened.