Is uninvested cash held within an ISA account protected at all?

[HGazoo]

I see a lot of mention of how securities are protected by the FSCS in the event of FT going bankrupt etc. but no mention of what status any cash held in the app has if any.

Could someone clarify the situation for me as I am considering moving in several thousand and don’t want it to be at risk while it’s not held up in securities.

[beermoneytrader]

Welcome to the forum.

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

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 movem…

[HGazoo]

Hi beermoneytrader. Thanks for your quick response!

I agree that this question has been covered in the thread linked, so I’m happy for this thread to be closed.

[Freetrade_Team]

Welcome to the forum @HGazoo and indeed, we’ll close this thread now.

Thanks