CMC Invest ISA

mountaindreams

Is anyone using a CMC Invest ISA? It's listed on the ISA page under Non-standard due to the way the money is help - their website says its protected in FCA.

Newbie_John

Some people do..

It's partially FCA protected, meaning it could be 1% and the rest kept in fairly secure money markets, so all in all not as secure as bank account but close to. 
Hence not compared with others fully protected.

flaneurs_lobster

mountaindreams said:

Is anyone using a CMC Invest ISA? It's listed on the ISA page under Non-standard due to the way the money is help - their website says its protected in FCA.

The Cash ISA or their Stocks & Shares ISA? 

Are you asking about FSCS protection?

friolento

There’s no such thing as FCA protection. Do you mean FSCS?

Eyeful

CMC Invest ISA, is in two parts.
(a) Cash ISA in Banks. This part will be protected by the FSCS.
(b) Qualifying Money Market Fund (QMMF). You may be afforded protection under FSCS in certain circumstances.

The question is how much of your money will be in Banks & how much will be in the QMMF?

This may be of use/ interest to you:   https://www.fscs.org.uk/check/

Ultrasonic

Obviously some people do. There is additional risk though.

If you've not had an account with Trading 212 or Moneybox before note that you can get essentially the same interest without this potential concern.