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Insurance differences between brokerages
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Insurance differences between brokerages

  #1 (permalink)
Trading Apprentice
Henderson, NV, USA
 
Futures Experience: Advanced
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Posts: 44 since Feb 2015
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Insurance differences between brokerages

Does anyone know if the differences between the amount of insurance you get on a futures account differs between brokerages or is it all the same? Right now I'm assessing Tradestation, OEC and Options Express. Would you guys say your funds are approximately as safe in either one or are there differences? I've read the site pages on fund safety and honestly can't tell what I'm reading! Haha!

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  #2 (permalink)
Trading for Fun
Nicosia, Cyprus
 
Futures Experience: Advanced
Platform: X_Trader Pro, TWS, CQG, Sierra Charts
Broker/Data: Interactive Brokers, Data: CQG, TTNEt
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There is no SIPC insurance on futures accounts, only FDIC coverage on segregated funds is possible (will be paid to a broker or an administrator in case of bank collapse). You are not protected by any insurance from brokerage failures.

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  #3 (permalink)
Site Administrator
Manta, Ecuador
 
Futures Experience: Advanced
Platform: My own custom solution
Favorite Futures: E-mini ES S&P 500
 
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A broker like IB can sweep excess funds into a securities account, which will have SIPC.

https://www.interactivebrokers.com/en/software/am/am/manageclients/excessfundssweep.htm

Mike

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