Are cash balances protected (eg if Freetrade became insolvent)?

:point_up_2: That’s my only question. Is the balance protected like a bank account balance would be (up to the government defined limit) ?

See:

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Hi @CashCow!

Freetrade’s customers are covered by the provisions of the Financial Services Compensation Scheme (FSCS).

In the unlikely scenario of Freetrade failing, together with a failure to safeguard your assets or some other failure, the value of your assets (both your cash and investments) held with Freetrade is protected by the FSCS up to a maximum of £85,000.

It’s worth keeping in mind that, while you are protected under the FSCS, your investment might fall as well as rise due to movements in market prices and any such fall wouldn’t be covered by the FSCS.

:open_umbrella: More about the FSCS and how it operates: https://www.fscs.org.uk/.

:lock: More about how we at Freetrade keep your money safe: https://freetrade.io/security

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Thank you! And apologies for the duplicate question, I did try to search for the answer first but obviously didn’t use the right keywords :slight_smile:

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No worries, it was time to have a thread for the specific question. :+1:

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