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How to get lower MBT trading commissions

  • #21
  • Jul 22, 2008 12:10am Jul 22, 2008 12:10am
Quoting fxtrader42
That is correct, they are safer then other brokers. A forex account or all of your forex accounts with IB are protected up to 1M per customer. Meaning if you have 5 accounts and you have a million in each account, only 1M of your total 5M is protected. Still the best I have seen thus far on a retail level.
Hi fxtrader42,

Does this also apply to universal accounts? Also, where is the 1M protection mentioned on their site. Even their security FAQ has nothing specific about FX, other than that it is OTC and unregulated, jee whiz.

http://individuals.interactivebroker...?ib_entity=llc
  • #22
  • Last Post: Jul 22, 2008 7:38pm Jul 22, 2008 7:38pm
Quoting fxterrapin
Hi fxtrader42,

Does this also apply to universal accounts? Also, where is the 1M protection mentioned on their site. Even their security FAQ has nothing specific about FX, other than that it is OTC and unregulated, jee whiz.

http://individuals.interactivebroker...?ib_entity=llc

Customer securities accounts at Interactive Brokers are protected up to $30 million (including up to $1 million for cash). The market value of your stocks, options, warrants, debt, and cash -- denominated in all currencies -- is covered by this insurance. Lloyds association insures a lot of broker dealers and investment companies in London and I haven't really looked at it in a while. I look at like this - currency positions are cash postions so therefore their insurance through Lloyds covers all account holders up to 1M for FX traders. If you want to know more than that I would call IB. I do not trade with IB so to be honest I could care less.
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