Made the same question...nobody answered.......Guess you might split amounts into accounts (within same Broker or between different Br.).....each under the guarantee number.  I even thought that if Broker has account in Bank that collapses....what happens with your monies ????? If its cash...???? .   Maybe better have stocks...at least you are entitled to them....although not clear if there is a BK...how would one stand if in cash, or if with stocks.....and if you are short stocks...and Broker goes down......would you be able to cover ??????  Who would have thought that the US would have the same troubles one finds in 3rd. world countries. Seems money is safer in these ones now...than in US.......Will try find a Broker in Somalia.......

    Brokers insured

    Posted by Michael on 4th of Oct 2008 at 08:22 am

    Brokerage accounts are insured by the SIPC which is like the FDIC for banks.  Accounts are insured for up to $500,000 of which $100,000 can be cash.  But almost all brokerage houses have their own insurance which protects accounts into the millions of dollars.  So in this environment the real queation, I guess, is -- how stable is the insurer that the broker is using?  I've been wanting to explore that further myself.  If anyone learns more, please post it.

    And still.....the problem might not

    Posted by treid4dou on 4th of Oct 2008 at 08:33 am

    And still.....the problem might not be the Broker.....but the Brokers Bank.....Suppose there is a bankruptcy.......whats your situation as an account holder with the Broker..????    Learned that over 300K accounts are in trouble under the LEH situation....and many are Hedge Funds with clients accounts.....If you live in abroad....you have to go to court in US, get a lawyer, ...????   Better buy some land, and grow soybeans....then.....

    Tks.  I think this issue

    Posted by treid4dou on 4th of Oct 2008 at 08:27 am

    Tks.  I think this issue should be a priority ...at least here in BPT...for all of us to get involved...and find out where are we standing.  My broker says $100K cash..guaranteed.....so if everybody is in cash....we are at risk....dont we ???? One could buy treasuries at close...daily...with the cash position....????

    Brokerage Accounts

    Posted by rgoodwin on 6th of Oct 2008 at 02:28 am

    Something that would be helpful. As each person posts info from their respective brokerage's, please could you state WHO your account is with. That way, we can share info on the ones that matter to us individually and not assume that one is the same as the other. Just something I think would be helpful.

    that's a serious question --

    Posted by Michael on 4th of Oct 2008 at 09:33 am

    that's a serious question -- is it a good idea before the close every day to put cash into a stable investment.  Even at commissions of $10/day though, that's pretty expensive insurance.

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