Guarantees

How do I know my funds are safe?

• Merchant Partners Group Ltd is an independent, introducer brokerage, we book deals in for our clients through large, FCA authorised payment institutions.
• MPG does not handle client funds in its own bank account. All funds for trades MPG books are sent to and exchanged in FCA client accounts with our payment providers. You can view a list of our payment providers below.
• Our payment providers are under strict guidelines to keep all client funds in FCA client accounts separated from their own trading accounts.
• When funds are posted to your account, in line with regulatory requirements, the regulated [payment/e-money] institutions who we work with safeguard your funds. This means that the funds shown in your payment account or e-wallet are held at reputable banks or covered by an insurance policy, and most importantly, are protected for you in the event of our partner [e-money/payment] institutions’, or our, insolvency.
• Our partners stop safeguarding your funds when the money has been paid out of your account to your beneficiary’s account.
• If you require a breakdown of the exact amounts of funds you have safeguarded at each of our [e-money/payments partners] at a particular point in time, please do not hesitate to contact us.
• You can view the FCA guidelines for exchanges here www.handbook.fca.org.uk"
• All the above means the following:
  1. If anything were to happen to the trading status of MPG whilst a trade is outstanding, or funds were being held, then clients can continue to trade directly with the payment provider.
  2. If anything were to happen to the trading status of the payment provider, then any existing funds would swiftly be recovered directly from the FCA (Financial Conduct Authority).
  3. It is why it is unnecessary to be part of the financial services compensation scheme (FSCS) as funds can be recovered in full.
• You can confirm our payment providers are registered with the FCA, by using the following link and FCA numbers below: https://register.fca.org.uk
  1. The Currency Cloud Ltd. – FSRN – 900199
  2. Equals Connect Ltd. – FSRN - 671508
  3. Global Currency Exchange Network Ltd. – FSRN – 504346
• After booking your first exchange with us we will send you a confirmation with FCA client account bank details for our payment provider. Please feel free to contact our providers directly using their websites or numbers below to confirm details.

The Currency Cloud Ltd.

https://www.currencycloud.com
+442033268173 – UK
+16465938724 – USA

Equals Connect Ltd. is part of Equals Group PLC.

https://www.equalsplc.com

Global Currency Exchange Network Ltd.

https://www.gcpartners.co
+442037639870 – UK

Adding new beneficiaries/bank details to your account

• Our payment providers will either call an authorised user or request
  an email from an authorised users email address, with the payment
  details for new beneficiaries added to the account.
• This is to ensure maximum security for client funds & to protect our
  payment providers, for deals booked through Merchant Partners
  Group Ltd.
• On each deal, confirmations will be sent showing the full payment
  details of bank accounts for our payment providers that a client can
  send funds to.
• It is highly recommended to check the bank details over the phone,
  especially when paying a new account for the first time.