We read the registers, the filings and the binding documents of UK financial firms, and publish what they state — with the passage quoted and the source linked, so you can check us. We do not rate firms. We show you the evidence and how much of it exists.
Which compensation scheme applies to the entity, or does none apply?
FSCS can't protect e-money or payment services firms. We can only protect money held by UK branches of authorised banks and building societies and credit unions
The scheme states that it cannot protect electronic money or payment services firms, and that it can only protect money held by UK branches of authorised banks, building societies and credit unions.
Are client assets subject to lending, rehypothecation or re-use?
Within all Accounts (other than the PMS SIPP) you remain the beneficial owner of the investments (and cash) and agree you will not try to sell, mortgage, use as security for a loan or otherwise deal in or part with beneficial ownership of the investments and cash held in the Account, other than where you give, and we accept, instructions in accordance with these Terms.
The client agreement states that within all Accounts other than the PMS SIPP, the client remains the beneficial owner of investments and cash and agrees not to sell, mortgage, use as security for a loan or otherwise deal in or part with beneficial ownership of those assets, other than under agreed instructions.
What spread or implicit cost applies, and is it disclosed?
Starling’s inbound exchange rate is based on a mid-market point calculated from third-party exchange rates, plus a margin.
The document discloses that a margin is added to the mid-market rate used for Starling's inbound exchange rate.
Who holds client money, and under which regime is it held?
Where we hold money for you in connection with the Investment Services, we hold it in your Monzo current account only. This means we hold that money as banker
The agreement states that where Monzo holds money for the customer in connection with Investment Services, it is held in the customer's Monzo current account and Monzo holds that money as banker.
Are interest arrangements on cash balances disclosed, including any retained share?
If you choose not to participate in the Interest Sharing Programme, we will not hold your Available Cash in QMMFs and therefore, no interest will be paid to you as per clause 15.1. We may still hold your Available Cash in Term Deposits and/or Regular Bank Deposits with UK/EU-regulated financial institutions, and we will retain any received interest.
The client agreement states that if a client chooses not to participate in the Interest Sharing Programme, no interest will be paid to them and the firm will retain any received interest.
Which entity acts as custodian of client assets, and is it a separate legal entity from the operator?
We act as the custodian of the Investments in your Freetrade Account(s), which means that we keep them in safe custody for you and treat them as 'client assets'
The client agreement states that Freetrade acts as the custodian of the investments in the customer's Freetrade Account, keeping them in safe custody and treating them as client assets.
Completeness is a measure of our evidence, not of the firm. A low figure means we could not confirm something from public sources. It does not mean a firm is deficient — many well-run firms disclose little, and some poorly-run firms disclose a great deal. The number of criteria differs between firms because some cannot arise: a bank that holds no client securities has no custodian, and those criteria are removed rather than counted against it.
Nothing is published below 60% completeness. Every figure is computed from stored evidence you can read in full, and the quoted passage above each report is one of its findings, chosen because it is the thing a reader most needs to see rather than because of what it says.
The same question asked of every firm at once is on the comparison pages — which compensation scheme covers them, who holds client money, what each may do with client assets.