Investor Compensation Fund
Depaho Ltd, operating through its brand TradeApp, registered with CONSOB (registration no. 3567) and fully licenced and regulated by CySEC (licence no. 161/11), is also a member of the Investor Compensation Fund (ICF).
The ICF was put in place to secure any claims of covered clients against members of the Fund, and to compensate covered clients for any claims arising from the failure by a member of the Fund to fulfil its obligations or from a breach occurring from a member of the Fund.
The failure of a member of the Fund to fulfil its obligations consists of:
a) Failure to return to a covered client, funds owed to them or funds which belong to them but are held by the Company, directly or indirectly, in the framework of the Company’s provision of a covered service and which the client has requested that the Company returns in exercise of their relevant right; or
b) Failure to return to a covered client, Financial Instruments which belong to them and which the Company holds, manages or keeps on its account, including the case where the Company is responsible for the administrative management of the said Financial Instruments.
In all cases and provided one of the preconditions is fulfilled, a client’s claim must arise out of the investment services provided by the ICF member, or out of the ancillary service of safekeeping and administration of financial instruments, including holding of funds. If a client’s claim exceeds €20,000 then the claimant-client is entitled to receive a maximum of €20,000.
For more information regarding the Investor Compensation Fund please click here.