City Credit Capital and CIX Markets Collapse: What Clients Need to Know
City Credit Capital (UK) Limited was placed into administration on 30 June 2023, following the imposition of FCA restrictions on the firm’s activities. If you held trading accounts or deposited funds with City Credit Capital, CIX Markets or Markets Trader and are concerned about money you cannot access, specialist advice may help you understand what options remain available.
City Credit Capital (UK) Limited (FRN 232015) was an FCA-regulated CFD and FX broker that operated under the well-known trading brands CIX Markets and Markets Trader. The firm had been authorised since its incorporation in December 2001 and served both retail and professional clients across a range of currency and contract-for-difference products.
When the FCA placed restrictions on the firm in June 2023, the breadth of the problem that subsequently emerged was significant. Administrators Gary Shankland and Jamie Taylor of Begbies Traynor, alongside Christopher Andersen of AABRS, discovered that approximately £10 million of professional client funds was missing. The firm’s primary trading counterparty, CCC Labun Limited in Malaysia, owed City Credit Capital approximately £7.7 million and had begun its own liquidation process, making recovery of those funds extremely difficult.
FCA rules require CFD brokers to maintain strict separation between client money and the firm’s own funds. They also require brokers to manage counterparty risk carefully. Where those requirements were not met, the result has been that clients who thought their money was safely held by a regulated firm have found themselves facing significant losses.
If you are a former City Credit Capital or CIX Markets client and have concerns about funds that remain inaccessible, please speak to our team. FSCS compensation of up to £85,000 per eligible person may be available. You trusted a regulated firm with your money, and if that trust was misplaced, we are here to help you pursue what you are owed.
Get Help With Your Claim
If you had dealings with City Credit Capital (UK) Limited and are worried about your money, please book a free consultation with our team. You may feel embarrassed about what has happened, but you should not. You were let down by people who had a professional and legal duty to act in your best interest. We will carry out all the investigative work on your behalf, at no cost to you. If your claim is not successful, you will not pay a penny. Call us during office hours or email hello@claimmyloss.co.uk — we are here for you.
