SIPC protection in IB

The agrregate is 150M. Is that enough to cover all IB customers?

If bear and man and IB all go bankrupt, do each firm still get 150M or will the money run out? If so, is the first one to go bankrupt gets more protection?

 

I'm not aware of any $150 million limit on SIPC. The limit is $500K ($100K cash) per customer. If you read that somewhere, please provide a link.

OldTrader

 

The info is on the site.

http://individuals.interactivebrokers.com/en/accounts/accountProtection.php?ib_entity=llc

 

Firms can go bankrupt, but as customer accounts are "segregated" from firm assets, the demise of the firm SHOULD not result in a loss for customers... maybe some delay and hassle in getting the mess cleared up, however.

SIPC insurance is for "missing securities and/or cash".

 

OK, well go read your own link. You misread it. SIPC is as I said. IB also has Lloyds policy subject to an aggregate of $150 MM.

OldTrader

 

So SIPC has no limit? and as long as our account is under 100K in cash and 500K in equities, we are completely covered??

If thats the case, i am pretty comfortable

 

I don't know.

It's not that comforting that IBKR is down 19% on the day.

 

OLdTrader,

The Lloyd's insurance covers excess cash over 100K doesn't it?

Thanks!

 

Oh its written down in an advertisement? Now I feel so much better.

 

IB send email linking to wsj ad
http://www.interactivebrokers.com/download/IB08-102.pdf


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