IQ Option Europe ltd (hereinafter called the “Company”) is a member of the Investor Compensation Fund (hereinafter called the “Fund”).
The objective of the Fund is to secure the claims of covered clients against members of the Fund by the payment of compensation for their claims arising from the failure by a member of the Fund to fulfil its obligations. Failure by the Company to fulfil its obligations can lead to either
(A) its inability to return to its covered clients funds owed to them or funds which belong to them but are held by the Company, directly or indirectly, in the framework of the provision of covered services, or
(B) its inability to return to its covered clients financial instruments which belong to them and which the Company holds or controls in its accounts on behalf of the clients.
Covered Services are the investment and ancillary services listed on the Company’s licence (247/14) issued by the Cyprus Securities and Exchange Commission.
In the following financial instruments:
Covered clients are all the clients of the Company that are NOT included in the following categories of investors:
Institutional and professional investors such as:
States and supranational organizations.
The aim of the Fund is to secure claims of covered clients against members of the Fund (i.e. IQ Option Europe Ltd) by providing compensation for their claims, arising from covered services, so long as it has been established that there is failure by the Company to fulfil its obligations
The Fund initiates the compensation payment procedure when at least one of the following circumstances is satisfied:
The preconditions above are presumed to be fulfilled in:
Following the decision to initiate the compensation payment process in accordance with paragraphs (4.1) or (4.2) above, the Fund publishes in at least three national newspapers an invitation to the covered clients to make their claims against the Company arising from covered services, designating the procedure for the submission of the relevant applications, the deadline for their submission and their content.
The publication contains at least:
The amount of compensation payable to each covered client is calculated in accordance with the legal and contractual terms governing the relation of the covered client with the Company, subject to the set of applied for the calculation of the claims between the covered client and the Company.
The calculation of the payable compensation derives from the sum of total established claims of the covered client against the Company, arising from all covered services provided by the Company and regardless of the number of accounts of which the client is a beneficiary, the currency and place of provision of these services. Currently, the maximum amount any claimant can receive as compensation is the sum of €20,000 (Euros).
For any further information regarding the Fund, please contact IQ Option’s Office or the offices of the Administrative Committee of the Fund, at the following address:
Administrative Committee of the Investor Compensation Fund for Customers of CIFs and other IFs 32 Stasikratous Street, 4th floor
P.O. Box 24996 1306 Nicosia
Fax no.: +357-22754675