FSCS in-default register

AFX Markets Ltd, trading as STO, Quantic Prime, tradealot, XSecurities, eloFX

Declared in default24 August 2021FRN 560872

What this means for you

Because AFX Markets Ltd, trading as STO, Quantic Prime, tradealot, XSecurities, eloFX has been declared in default, you can't complain via the Financial Ombudsman Service in the normal way. Instead, eligible customers can apply to the Financial Services Compensation Scheme for compensation.

Background

AFX Markets Ltd, which operated under the trading names STO, Quantic Prime, tradealot, XSecurities, and eloFX (FRN 560872), was declared in default by the FSCS on 24 August 2021. The firm provided investment advice and unregulated collective investment products to its customers. Former customers may be entitled to FSCS compensation of up to £85,000 for eligible investment claims.

Products this firm wrote

Investment adviceUnregulated Collective Investment Schemes (UCIS)

How to claim

  1. Check you were a customer of this firm during the period it was regulated.
  2. Gather your policy / advice / contract paperwork — start with anything you have in writing.
  3. Identify your loss and the date it crystallised.
  4. Apply via the FSCS online claim portal at claims.fscs.org.uk.
  5. The FSCS investigation typically takes 6–18 months. They will assess eligibility, liability and quantum.