Sidekick is authorised and regulated by the Financial Conduct Authority (FCA). Your money may be protected up to £85,000 by the Financial Services Compensation Scheme (FSCS). Learn more about FSCS protection [here].
Interactive Brokers (IBKR) is our custodian and partner for brokerage services. Interactive Brokers (U.K.) Ltd. ("IBUK") custodies certain of your securities positions and cash with its US affiliate, Interactive Brokers LLC ("IBLLC"), which is licensed by the US Securities and Exchange Commission (SEC) and is a member of the Securities Investor Protection Corporation (SIPC).
Securities and cash custodied with IBLLC are protected by SIPC for up to $500,000 (including a $250,000 cash sublimit). IBLLC also maintains excess SIPC insurance through certain underwriters at Lloyd’s of London, providing additional coverage of up to $30 million (with a $900,000 cash sublimit), subject to an aggregate limit of $150 million. This protection covers broker-dealer failure, not losses due to market movements.
Currencycloud, our payments services e-money provider, is authorised by the Financial Conduct Authority (FCA) for the issuance of electronic money and the provision of payment services (FCA registration number 900199). As Currencycloud accounts are e-money accounts, they are not bank accounts, and FSCS protection does not apply. However, Currencycloud safeguards client funds in accordance with FCA requirements. You can learn more about their safeguarding approach [here].
Please note that your e-money wallet is used to facilitate the funding of your investment strategy, rather than to hold cash long-term.