Foreign Currency Innovations Ltd, trading as FCI Markets

Under investigation 12 June 2024

FRN: 616985

You might be eligible for compensation

Foreign Currency Innovations Ltd, trading as FCI Markets (“FCI”) has been authorised by FCA since July 2014.

FCI offered a range of brokerage services including contracts for differences, rolling spot currency contracts and spread bets.

FCI entered creditors’ voluntary liquidation on 10 March 2023 with James Patchett of Turpin Baker Armstrong and Stephen Katz of Begbies Traynor appointed as Joint Liquidators.

Latest updates

  • 12 Jun, 2024

    FSCS has been working with the Joint Liquidators to understand whether there are likely to be any valid claims that would allow us to pay compensation. We will now be opening our online claims service to claims.

    The documentation that the Joint Liquidators have been able to get from FCI and send to us to help with our investigation has been limited. So, we’re asking customers to send us the following evidence to help us process their claim:

    1. Copies of contracts with FCI (terms of business or client agreements),
    2. Evidence of investments made / positions held,
    3. Bank statements showing monies transferred to or received from FCI,
    4. Annual statements
    5. Brochures or any other promotional material provided by FCI,
    6. Copies of any complaints made to FCI, along with any responses received,
    7. Any other correspondence with the firm in relation to the investments made / positions held;
    8. Professional clients who believe they ought to have been categorised as retail clients should provide any relevant questionnaires and explain why they believe they have been miscategorised, whether they were aware of being miscategorised and copies of correspondence on this.

    Although we are accepting claims against FCI, they will not be immediately passed to our claims processing teams for assessment. This is because we are still investigating the firm to see if any claims meet the qualifying conditions for compensation, and this may take some time.

    We will provide updated information via this webpage as our investigation progresses.


Contact us on the number below, or via any of the methods on the FSCS Contact us page.

Phone contact icon 0800 678 1100