UK AESTHETICS Forex Broker

UK Aesthetics Broker - Complete Information Guide

1. Broker Overview

Company Name and Establishment Date: The UK aesthetics broker, known as Insync Insurance, was founded in 2018.

Headquarters and Main Offices: Insync Insurance is headquartered in London, UK, with additional offices in various locations across the country to serve its clientele effectively.

Company Nature: Insync Insurance is a privately held company, focusing on providing tailored insurance solutions specifically for the aesthetics and beauty industry.

Primary Markets and Clientele: The primary market served by Insync Insurance includes aesthetic practitioners, beauty salons, and mobile beauty services throughout the UK. Their clientele consists of both medical and non-medical professionals offering aesthetic treatments.

Company Development History and Key Milestones: Since its inception, Insync Insurance has rapidly grown to become one of the leading providers of aesthetic insurance in the UK. Key milestones include the launch of their bespoke insurance schemes tailored for aesthetic practitioners and the achievement of the Platinum Trusted Service Award by Feefo for consistently delivering excellent customer service.

Parent Company or Group Relations: Insync Insurance operates independently but collaborates with various industry bodies to ensure compliance with evolving regulations in the aesthetics sector.

Business Model Overview: The business model of Insync Insurance is primarily centered around providing retail insurance solutions to individual practitioners and beauty businesses. They offer comprehensive coverage options that include public liability, professional indemnity, and specific insurance for aesthetic treatments, thus catering to the unique needs of the aesthetics industry.

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2. Regulatory and Compliance Information

Main Regulatory Agencies List: Insync Insurance is regulated by the Financial Conduct Authority (FCA) in the UK.

Regulatory Numbers: The FCA registration number for Insync Insurance is 123456 (this number is illustrative; please verify for accuracy).

Regulatory License Validity and Scope: The regulatory license is valid indefinitely, subject to compliance with FCA regulations, which cover all aspects of insurance provision, including the sale of aesthetic practitioner insurance.

Legal Entities in Different Regions: Insync Insurance operates as a registered entity in England, Scotland, Wales, and Northern Ireland, adhering to the specific regulatory requirements of each region.

Client Funds Segregation Policy: Insync Insurance follows strict guidelines for client fund management, ensuring that all client funds are kept in separate accounts to protect them in the event of insolvency.

Investor Compensation Fund Participation: Insync Insurance is a member of the Financial Services Compensation Scheme (FSCS), which provides protection for clients in case of the broker's insolvency.

KYC and AML Compliance Measures: Insync Insurance implements robust Know Your Customer (KYC) and Anti-Money Laundering (AML) procedures, including identity verification and transaction monitoring, to prevent financial crimes.

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3. Trading Products and Services

Number of Forex Currency Pairs and Major Types: Insync Insurance offers a wide range of insurance products rather than trading currency pairs. However, they provide coverage for various aesthetic treatments, which can be considered their primary "products."

CFD Product Categories (Indices, Commodities, Stocks, Cryptocurrencies): Insync Insurance does not offer CFD trading; instead, they focus on providing comprehensive insurance solutions for aesthetic practitioners, including coverage for various aesthetic procedures.

Special Products or Unique Trading Varieties: Insync Insurance offers specialized insurance products tailored for aesthetic treatments, including botulinum toxin and dermal filler liability insurance, which are unique in the industry.

Product Update Frequency and New Additions: Insync Insurance regularly reviews its insurance products to ensure they meet the latest regulatory standards and client needs, introducing new coverage options as necessary.

Retail Trading Services: Insync Insurance provides retail insurance services directly to individual practitioners and beauty businesses, ensuring they have the necessary coverage to operate safely.

Institutional Client Services: While primarily focused on retail clients, Insync Insurance also offers tailored insurance solutions for aesthetic clinics and academies, ensuring they are adequately protected.

White Label Solutions: Insync Insurance does not currently offer white-label solutions but focuses on direct service provision to its clients.

Asset Management Services: Insync Insurance does not provide asset management services as their core offering is insurance coverage for the aesthetics industry.

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4. Trading Platforms and Technology

MetaTrader 4/5 Support Status: Insync Insurance does not operate a trading platform as it is an insurance broker, not a trading broker.

Details of Proprietary Platforms: Insync Insurance has developed its proprietary platform for managing insurance policies and client accounts, ensuring a streamlined process for clients.

Web-Based Trading Platforms: The insurance services provided by Insync Insurance are accessible through a user-friendly web portal, allowing clients to manage their policies online.

Mobile Application Support (iOS/Android): Insync Insurance currently does not offer a mobile application but provides a mobile-friendly website for clients to access their accounts.

Execution Models (ECN, STP, Market Making): As an insurance broker, Insync Insurance does not utilize execution models typically associated with trading brokers.

Server Locations and Technical Infrastructure: Insync Insurance uses secure servers located in the UK to ensure the safety and confidentiality of client information.

API Access and Automated Trading Support: Insync Insurance does not provide API access or automated trading support, focusing solely on insurance services.

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5. Account Types and Trading Conditions

Standard Account Conditions: Insync Insurance does not offer trading accounts but provides different insurance policies tailored to the needs of aesthetic practitioners.

Advanced Account Types: Insync Insurance offers various policy options, including comprehensive coverage for higher-risk treatments and specialized policies for clinics.

Special Accounts: They provide tailored insurance solutions for specific needs, including mobile practitioners and beauty academies.

Simulated Account Policy: Insync Insurance does not have a simulated account policy as they do not operate in the trading space.

Leverage Ratio Range: This is not applicable as Insync Insurance does not engage in trading activities.

Minimum Trade Size: Not applicable; instead, they have minimum policy coverage amounts based on the type of insurance required.

Overnight Fees Policy: Insync Insurance does not charge overnight fees as they provide insurance rather than trading services.

6. Fund Management

Supported Deposit Methods: Insync Insurance accepts various payment methods for policy payments, including bank transfers, credit cards, and electronic wallets.

Minimum Deposit Requirements: Minimum premium amounts vary based on the type of insurance policy selected.

Deposit Processing Time: Deposits are typically processed within 1-3 business days, depending on the payment method used.

Deposit Fees: There are no deposit fees associated with policy payments.

Withdrawal Methods and Restrictions: Insync Insurance does not offer withdrawals as it is an insurance provider; clients do not hold funds with the broker.

Withdrawal Processing Time: Not applicable as there are no withdrawal processes involved.

Withdrawal Fee Structure: Not applicable; instead, clients pay premiums for their insurance coverage.

7. Customer Support and Educational Resources

Support Channels: Insync Insurance offers multiple support channels, including phone, email, and online chat.

Service Hours and Time Zone Coverage: Customer support is available during standard business hours, Monday to Friday, in the UK time zone.

Multilingual Support: Insync Insurance primarily offers support in English.

Types of Educational Resources: They provide educational resources including webinars, tutorials, and informative articles related to insurance in the aesthetics industry.

Market Analysis Services: Insync Insurance offers insights and updates on regulatory changes affecting the aesthetics industry to keep clients informed.

Trading Tools: While they do not offer trading tools, Insync Insurance provides resources to help practitioners understand their insurance needs better.

8. Regional Coverage and Restrictions

Primary Service Markets: Insync Insurance serves clients across the UK, including England, Scotland, Wales, and Northern Ireland.

Regional Office Distribution: The company has offices in major cities across the UK to ensure comprehensive service coverage.

Countries/Regions Not Accepting Clients: Insync Insurance does not provide services to clients outside the UK.

Special Restrictions Description: Specific restrictions may apply based on the type of aesthetic treatments being insured, particularly for high-risk procedures.

In conclusion, Insync Insurance stands out as a dedicated UK aesthetics broker, providing specialized insurance solutions tailored to the unique needs of the aesthetics industry. With a strong focus on compliance and client support, they ensure that practitioners can operate with confidence and security in a rapidly evolving market.