Discussion in 'Fixed Income' started by JackMorgan, Jul 5, 2022.

  1. Mysteriously, IB claims their secondary market CD's are not FDIC insured.

    Seems impossible for that to be true, so does anyone here have the skinny on that ?
  2. taojaxx


    A brokered CD may not be insured by the FDIC. This product may be offered by a stockbroker who serves as a deposit broker for the issuing bank. Brokered CDs pay a higher rate of interest than typical CDs, but they usually require a minimum deposit amount and sometimes a fee to purchase one. Most of these CDs are considered deposit products, and therefore are FDIC insured, but some are considered securities, which are not insured by the FDIC.
    eastern_warrior likes this.
  3. SOME. VERY FEW (relatively) are not insured as far as I know.

    They dont say some . THEY SAY ALL. are not insured. And they have a fairly long list , so how is that possible ?
  4. as usual, cant get a straight ans here
  5. Overnight


    If you want a straight answer, just call them.

    Here is the relevant info you need, pointed out to you with pretty colours.


    You are welcome.
  6. Fain


    Out of 3 Options. FDIC, the ISSUER, and a Brokerage(middleman) your only contacting the 3rd place which obviously would know less than both FDIC and Issuer.
  7. Overnight


    He got his answer before he supposedly put me on ignore with my response, so he has the information. Since he has not posted a follow-up in nearly a month, this was never a real issue for him. He was just whining and being generally stupid and trollish.
  8. and asking in the wrong place is another nail in the coffin of getting the facts
  9. Overnight


    FDIC is fixed income dude! Do you have me on ignore or not!?? Are you too stupid to make a phone call?