Hello to everyone, both SIPC and Penson ensured but still.... can Cybertrader corp. be viewed as more safe than MB Trading because it is a subsidiary of Swab?
For investor's protection, one should try to find out the financial situation of the company and its clearing firms. IB posts its financial information, and also have more clients than MB or Cybertrader. You might want to look at it.
looked at ib. as my user name suggests - I need a support service to me, platform interface is a matter. I do not like TWS (hope IB army won't tear me in pieces ) I am also not a very agressive trader. Unfortunately, because MB is private it does not disclose its financial statements you say IB (200mill in usd capital - good safety net, if I am right) is bigger than Cyber. But what I am asking is - "is Cyber also protected by the monster who ate it (Swab) ?" and thus can be viewed as more safe than the rivals who are smaller than Swab. (sorry if question is very stupid )
the clearing firm is all that matters. i have an account with mb ib and many others. i have a penson checkbook. all my moneys with penson and not mb trading. mb jsut provides the software and service and never touches my money
yep... segregated accounts - Penson money, MB service. check the sequence and correct me if I am wrong: 1. broker goes down => 2. Broker's capital => 3. SIPC => Penson ensurance is this right?
Cybertrader does not clear though Schwab. Both Cybertrader and MB clear through Penson. By the way, I think you may still suggest IB what improvements you want to see at TWS.
I know that Cyber clears through the big P ok - I'll try to express my question in a more precise way when comparing Cybertrader and MB, assume that both of them are nor SIPC or Penson ensured. Oneday both go under. Clients will be getting theirs from the capitals of these firms. In the case like that, is Cybertrader also protected by the Swab's equity?