Investor Compensation Fund
We understand the value of the hard-earned money that you are investing through our platform. Magic Compass is a member of the Cyprus Securities and Exchange Commission’s (CySEC) Investor Compensation Fund (ICF), in accordance with Law 144(I)/2007, meant specifically for clients of Cyprus Investment Firms (CIFs).
The primary objective of the ICF is to safeguard the capital of clients investing via CIFs, to ensure that their claims are compensated, in the event that a CIF is unable to do so due to financial circumstances that are unlikely to improve in the foreseeable future. The ICF ensures that:
The ICF serves to cover Retail Clients of CIFs, which excludes Professional Clients and Eligible Counterparties.
Covered Clients of an ICF's member company can receive a total payable compensation of no more than €20,000, regardless of the number of accounts held, the currency and the place from which the investment service is being offered, you can read more information on about the ICF and Covered Clients and the circumstances in which they are covered by clicking here.