FX and CFD traders tend to be heavily retail exposed, and the regulators and courts expect a higher level of professional duty and care when dealing with this type of client. As such, professional liability coverage is compulsory in most jurisdictions, but given the business profile, we concurrently see this coverage purchased alongside Crime, Excess of Loss and Directors’ and Officers’ Liability Insurance.

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Broker / Dealer (FX and CFD Traders) Insurance

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Trade off your insurance risk

FX and CFD traders tend to be heavily retail exposed, and the regulators and courts expect a higher level of professional duty and care when dealing with this type of client. As such, professional liability coverage is compulsory in most jurisdictions, but given the business profile, we concurrently see this coverage purchased alongside Crime, Excess of Loss and Directors’ and Officers’ Liability Insurance.

While most Broker / Dealers are highly reputable entities, given the aforementioned, regulators and bodies across the globe routinely inspect and oversee your industry which can lead to investigation costs even when no actual wrongdoing has occurred.

Broker / Dealer (FX and CFD Traders) Insurance

What we bring to your business

  • An exclusive ‘Lockton Pioneers Protection’ policy wording which includes industry specific policy enhancements, combining separate policy coverages into one streamline solution

  • Lockton’s global presence provides us with an enhanced regulatory oversight, and the ability to service your account where you wish to grow

  • Our policies include Professional Indemnity insurance which is compulsory in many jurisdictions for broker/dealers. So no matter what country you are in, we have you covered

  • Our knowledge and product base caters to all of your insurance needs ranging from tech errors and omissions, generic professional indemnity cover, fraud insurance and excess of loss

  • Our Excess of Compensation Scheme policy is designed to help you to protect your clients funds over the compensation scheme limit, giving you a competitive edge.

  • Our team includes product specialists including experience underwriting broker/dealers

Broker/Dealers Insurance FAQs

Given the retail exposure and increased risks of third-party liability claims, and/or investigation costs we would recommend purchasing at a minimum Directors’ and Officers’ Liability and Professional Indemnity.

We would also recommend purchasing fraud and Excess of Compensation Scheme cover, to ensure that you have a comprehensive insurance programme that aligns with your risk management strategy.

Yes, our policy was designed with that in mind, which is why we have a both a comprehensive definition for Subsidiary as well as a broad New Companies extension.

Our fintech insurance team

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Brett Warburton-Smith

Partner
brett.warburton-smith@lockton.com
+44 20 7933 2242

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Richard Ellis

Producer
richard.ellis@lockton.com
+44 20 7933 1127

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April Bellchambers

Assistant Vice President
april.bellchambers@lockton.com
+44 207 933 2109

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If you'd like to discuss your insurance requirements, use the contact form on the link below and we'll get in touch as soon as we can.

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