CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. --- of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Execution Conditions
Up to €100,000 Deposit Protection
Deposits from eligible clients registered with our CNMV-regulated entity in Spain, are protected via FOGAIN that offers coverage up to 100,000 EUR.
FAQ
- What is FOGAIN?
- Who is covered by FOGAIN?
- Who is not covered by FOGAIN?
- What is the limit of the compensation paid by FOGAIN?
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What is FOGAIN?
FOGAIN is the abbreviation in Spanish for the General Investment Guarantee Fund. It provides Sapiens Markets EU SV customers with compensation in the event that the entity enters into insolvency proceedings, the bankruptcy of the entity is judicially requested or the entity is declared insolvent by the National Securities Market Commission (CNMV).
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Who is covered by FOGAIN?
You will be eligible for a compensation if you:
- 1. maintain a customer relationship with Sapiens Markets EU SV on the date on which a judicial insolvency proceeding is declared in respect of the entity or the declaration of insolvency of the entity is judicially requested, or the National Securities Market Commission (CNMV) declares that the entity is not in a position to meet its obligations to its customers,
- 2. maintain a balance of securities, and/or financial instruments, and/or cash at that date at the entity, and
- 3. are not in the excluded cases.
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Who is not covered by FOGAIN?
Clients who are financial institutions, for example investment firms, collective investment schemes or pension funds, are not covered. A complete list of who is not covered can be found on the FOGAIN website.
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What is the limit of the compensation paid by FOGAIN?
The maximum coverage is 100,000 euros. The maximum coverage applies per person. For this purpose, FOGAIN calculates the amount of the overall creditor position vis-à-vis Spaniens Markets EU SV for each person.