Where’s my money? What to expect if you had a WorldSpreads account

Administrator KPMG will have details of all account-holders but you can call them to get any further information and make sure you are in line to receive further updates. The relevant number is 020 3284 8829 and you can check for news on www.worldspreads.co.uk.

● UNDER £50,000? DON’T WORRY
Under the terms of the Financial Services Compensation Scheme, all individual holders of trading accounts at authorised firms (of which WorldSpreads was one) will get their full money back up to £50,000. So if you had less than that amount in your account at close of play on Friday, you will eventually see it come back. But that doesn’t apply to professional or institutional traders.

Unless you had a segregated account, you can expect to have your details published as part of the administration process, whether you like it or not.

● A date for your diary
KPMG is obliged to make a report of their findings in 10 weeks – the first week of June – which will detail the likeliest outcome for creditors.

Don’t expect a quick resolution: it is likely to take months to work out who gets what.