Does Firstrade offer any account protection?
Firstrade Securities Inc. is a member of the Securities Investor Protection Corporation (SIPC). SIPC provides up to $500,000 of coverage, with a limit of $100,000 for cash balances. In addition, our clearing firm, Ridge Clearing, has purchased an additional insurance policy through a group of London Underwriters (with Lloyd’s of London Syndicates as the Lead Underwriter) to supplement SIPC protection. This additional insurance policy is limited to a combined return to any customer from a Trustee, SIPC and London Underwriters of $150 million, including cash of up to $2 million.
Firstrade Securities Inc. is a member of the Securities Investor Protection Corporation (SIPC). SIPC provides up to $500,000 of coverage, with a limit of $100,000 for cash balances. In addition, our clearing firm, Ridge Clearing, has arranged supplemental account protection (“excess SIPC coverage”) through Customer Asset Protection Company, a licensed New York insurer (CAPCO), which provides excess SIPC coverage up to the total net equity of the account including all securities and cash balances. These protections do not protect against a decline or loss in market value of the securities in your account.
