Client funds are kept completely separate from the company’s and are stored with reliable banks in special accounts (called segregated accounts). Client accounts are established with the required coding to ensure they are used for clients funding purposes only. The company provides for the full protection of client funds for as long as they decide to keep them with us. We do not use client funds for operational or investment purposes, and all accounts are monitored and reviewed by our external and internal auditors.
Licensed by the FSC
Sky FX Option Ltd is authorized and regulated by the Financial Supervisory Commission in the Cook Islands, with a Money Changing & Remittance License (no 12767/2018). Cook Islands is a territory in free association with New Zealand, but with an independent body responsible for the supervision of regulated financial entities and financial services. FSC adopts the strictest of standards, including capital adequacy requirements. Financial services are the second biggest contributor to the Cook Islands’ economy after tourism, adding about 8% to the GDP. The FSC has an important role to play in the financial services sector. The company submits financial reports to FSC on a regular basis including reconciliations of client funds.
Audited by BDO
We are fully compliant with regular internal and external company audits. External Audit is performed by BDO, one of the world’s largest and reputable Audit firms.
Member of The Financial Commission
Sky FX Option status as a Member of the Financial Commission took effect on February 25, 2019, following the approval of its membership application by the Financial Commission, thus allowing our customers access to a wide range of services and membership benefits including, but not limited to, protection for up to €20,000 per submitted complaint, backed by the Financial Commission’s compensation fund.
Partnerships with Banks
Sky FX Option works with several banks whose reliability is beyond question. You can find out more about these banks on the “Deposit and withdrawal options” page of our site.
Modern encryption technology
Sky FX Option uses the SSL (Secure Sockets Layer) cryptographic protocol, which provides secure connections for making transactions. Data is encrypted to prevent it from being stolen or accessed by third parties during its transfer. In addition to this, it’s transmitted all at once to ensure that it remains intact.
Transparent trading conditions and information policy
Sky FX Option does everything possible to ensure the business’ complete transparency. We adhere to a strict set of financial standards and are obliged to periodically report our activities to the regulatory authorities.