Well. Said ! Note: The MarketMakers at IB-FX-ECN are. UBS, BeanrSterns, JPmorganChase, and the best of all: The DeutscheBank.
Yes, it is explained clearly there, and, as always, devil's in the details: http://www.interactivebrokers.com/en/accounts/accountProtection.php?ib_entity=llc SIPC protection up to $500,000 per customer -- great, most reassuring to have that, especially in the post-Refco world. However, Lloyd's coverage "topping off" that $500K to $30M per customer, is also subject to "an aggregate limit of $150 million." Since IB has many times that amount in customer assets, what is the value added, if any, of that Lloyd's coverage? In other words, how can it possibly "provide protection against failure of a broker-dealer" (to quote the above link), given that limit?
Jim Rockford, My understanding is that fidelity bonds are required to be held by banks to cover instances of fraud, and the other things you cite, but doesn't include bankruptcy. As you know, US banks are backed by the FDIC in case of default, however hotspot isn't a bank.
Hmmm...this one is listed, but I never saw CITIFX in the quotes.... Maybe it's the next one which will be added to the MarketMaker-pool for IB-FX.?
No, in fact, looking at my daily records (screen shots), I've done lots of trades with "CITI-FX" on IDEALPro as far back as July.
Still the case ??? (or did it stop in October). (to my knowledge CITI-FX is used as Clearing, but not as MarketMaker).