What insurance or protection do I get for my account?
Our broker-dealer partner in the US is a member of
the Securities Investor Protection Corporation
(“SIPC”) which currently protects the securities
and cash in your Account up to $500,000 of which
$250,000 may be in cash.
Please note that this $500,000 is not applicable
general losses in the stock market.
SIPC says the following: SIPC protects against the
loss of cash and securities – such as stocks and
bonds – held by a customer at a financiallytroubled SIPC-member brokerage firm. The limit of
SIPC protection is $500,000, which includes a
$250,000 limit for cash. A non-U.S. citizen with an
account at a brokerage firm that is a member of
SIPC is treated the same as a resident or citizen of
the United States with an account at a brokerage
firm that is a member of SIPC.
SIPC does not protect against the decline in value
of your securities. SIPC does not protect
individuals who are sold worthless stocks and
other securities. SIPC does not protect claims
against a broker for bad investment advice, or for
recommending inappropriate investments.