Who is PennTrades Clearing firm?
PennTrade clears through National Financial Services, LLC a Fidelity Investments Company. [ top ] Is there any account protection? Yes, both Pennaluna and its clearing corporation, National Financial Services, are members of the Securities Investor Protection Corporation. SIPC coverage essentially protects customer accounts up to $500,000, with $100,000 maximum for cash. See full details at http://www.sipc.org Beyond this, NFS has arranged for additional protection from Lloyd’s of London for cash and covered securities to supplement the SIPC coverage. This additional protection covers up to an aggregate loss limit of $1 billion for all customer claims of which $1.9 million may cover cash awaiting reinvestment at the individual account level. This protection becomes available in the event that SIPC limits are exhausted. (Please note that neither SIPC nor Lloyds coverage protects against a decline in market value of securities.) [ top ] Does PennTrade offer accounts denominated in Canadi
Related Questions
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- Who is PennTrades Clearing firm?
