Do Any Firms Besides IB offer Safety of Funds ?

Discussion in 'Forex Brokers' started by jaygould, Dec 29, 2007.

  1. jaygould


    I don't like the fact that Interactive Brokers is closed 15 minutes everyday, since I like to leave positions in over night and want my stops protected, but they seem to be the only forex firm where your money is protected by the SIPC.
    Am I correct about this ?
    Are there any other firms or ways that you can trade forex and have your money protected ? Or are they the only one ?
  2. jaygould


    Thanks, I'll check them out.
  3. Ganamide


    SIPC doesn't cover currencies or futures. They only protect cash, stocks, and bonds. Not sure if this means your cash in an FX account is covered or not.

    You might want to make sure that your FX broker either has a strong financial statement or keep your deposits small and take advantage of high leverage. Ideally you would do both.
  4. Any FSA regulated broker, or I believe funds are protected trading futures but I'm not sure.