With ICE UK, clients' deposits are automatically protected. These clients are connected to the FSCS compensation scheme, which provides up to £50,000 in compensation to each client.
FSCS (Financial Services Compensation Scheme) is a deposit insurance system for customers of authorized financial services firms. The system is established by UK law and pays up to £50,000 in compensation to each customer in the event the regulated company goes bankrupt/insolvent.
The compensation scheme works in the event a bank in which customer funds are held goes bankrupt/insolvent. In this case, the maximum amount of compensation is £50,000.
The funds of ICE UK clients are stored separately from the company's funds, according to the rules of the FCA (The Financial Conduct Authority). The company cannot use clients' funds for other purposes, and clients have access to the funds at any time. Movement of client's funds is controlled by the financial regulator, and is additionally checked and certified by an auditor.
According to the regulator's requirements, deposits from retail customers are protected against negative balance, regardless of the amount of negative result. Each professional client has up to £50,000 in negative balance protection.