Butterfield: CIMA licence recorded for Butterfield

No. The group states that its investment vehicles, products and services have not been registered or licensed under any US securities legislation, are not offered or sold directly or indirectly in the US or any US territory or possession, and are directed only to persons in countries other than the US. It also sets out a detailed definition of a US Person and states that it will not provide products to anyone it has reason to believe falls within it.

The group publishes dedicated jurisdiction sections for Bermuda, the Cayman Islands, Guernsey, Jersey, The Bahamas, Singapore and Switzerland, each with a locally licensed entity and a local office. Its own terms exclude the United States, together with any US territory or possession, and state that UK investors will not be accepted as clients or subscribers of the Bahamas, Bermuda and Cayman Islands investment business. Its separate UK subsidiary, Butterfield Mortgages Limited, does serve UK mortgage clients.

Neither is offered. Leverage and spreads are features of margin trading accounts, and Butterfield does not provide them. Its investment business is discretionary and advisory portfolio management through local portfolio managers rather than self-directed leveraged trading.

None. Butterfield publishes no MetaTrader 4, MetaTrader 5, cTrader or proprietary trading platform, because it does not offer retail trading. Existing banking clients use Butterfield Online, which is an online banking service and not a trading terminal.

The group does not publish a general minimum deposit, and because it offers no trading accounts there is no trading account minimum at all. One product minimum it does state is 10,000 pounds on its Island Saver Instant Access savings account. Account terms are set through the local office in each jurisdiction.

The bank dates itself to 1858, when Nathaniel T. Butterfield established Bermuda's first bank, and traces its origins further back to a mercantile business founded in 1784. It was formally incorporated by a Special Act of the Bermuda Legislature in 1904, and the corporate registry records an entity creation date of 22 October 1904, which corroborates that account.

The operating and parent company is The Bank of N.T. Butterfield & Son Limited, incorporated in Bermuda and registered at 65 Front Street, Hamilton HM 12. It is a publicly traded company rather than a privately held one, listed on both the New York Stock Exchange and the Bermuda Stock Exchange, so its ownership is dispersed among public shareholders.

There is no evidence that it is. The operating company is recorded as active on the Bermuda Companies Register under number 2106 with a 1904 incorporation date, it is a reporting issuer with the United States Securities and Exchange Commission, and it is listed on the New York Stock Exchange under the ticker NTB. The realistic risk attached to this name is impersonation by third parties rather than misconduct by the bank itself.

Yes, as a bank and trust group rather than as a broker. Its Legal and Disclaimers page states that the parent bank is licensed to conduct banking business by the Bermuda Monetary Authority, and it names separate authorisations for subsidiaries in the Cayman Islands, Guernsey, Jersey, Singapore, the United Kingdom and The Bahamas. None of those authorisations is a foreign exchange or CFD dealing licence. These are recorded as claimed by the company because they were not confirmed against each authority's own public register during this review.

No. Butterfield is the brand of The Bank of N.T. Butterfield & Son Limited, a Bermuda bank and trust company. Its own website sets out three business lines, banking, trust and investments, and it publishes no trading account, no leverage, no spreads and no trading platform. If you have been offered a Butterfield-branded forex or CFD trading account, it did not come from this company.