Search results

  1. C

    Is cash no longer fully insured in an IB account ?

    IB is just quoting the boilerplate from the two different agencies, as they are required to do by each agency. As far as the CFTC is concerned, you lose the benefit of its segregation requirements if you move cash to a securities account. Maybe it is segregated there as well, under a...
  2. C

    Is cash no longer fully insured in an IB account ?

    Well he has accomplished a lot in any case - getting IB to withdraw their assertion of SIPC coverage for cash for forex and futures. What firm is he working for?
  3. C

    Is cash no longer fully insured in an IB account ?

    For T-Bills to be used for margin, IB requires that a million dollars be invested. Also I believe in the MF Global case they decided that t-bills held by futures customers would not be paid out in full under SIPC insurance coverage but rather treated the same as cash (.i.e. only 75% paid...
  4. C

    Is cash no longer fully insured in an IB account ?

    You would not be covered for broker fraud in that case. FDIC only covers you for bank fraud, not broker fraud.
  5. C

    Dark Secrets: Where does your retail order go?

    Do the European markets have internalization?
  6. C

    Dark Secrets: Where does your retail order go?

    No - futures rules have no provision for the use of internalization and in fact it is illegal.
  7. C

    Is cash no longer fully insured in an IB account ?

    Specifically: "Interactive Brokers LLC is a member of the Securities Investor Protection Corporation ("SIPC"). SIPC protects cash and securities held with Interactive Brokers as specified in the Securities Investor Protection Act. SIPC protects cash, including US dollars and foreign...
  8. C

    IB TWS security token asked after disconnection

    Yes the problem was solved for me also. Thanks!
  9. C

    Is cash no longer fully insured in an IB account ?

    We'll see if it ever happens (I doubt it it ever will with IB). Personally I think they would have to inquire into this, now that they have explicitly stated that they will not insure this situation (cash from futures accounts or currencies trading in a securities account). Otherwise this...
  10. C

    Is cash no longer fully insured in an IB account ?

    The SIPC claim form for MF Global customers does indeed have a full set of questions designed to cover issues that arise in the MF Global case. I append them below. The questionnaire is tailored by SIPC for each particular firm. If a broker with universal accounts and a sweep policy and...
  11. C

    Is cash no longer fully insured in an IB account ?

    Well the SIPC claim form in this situation is probably going to ask a few questions along the lines of: (1) Was this account established and used primarily for the purpose of investing in securities? If not, explain. (2) Was this account used for purposes other than investing in...
  12. C

    CFTC Financial Data Reports For year end 2011

    Here is the official site for these reports, including a spreadsheet format: http://www.cftc.gov/MarketReports/FinancialDataforFCMs/index.htm Looking at the report, does anyone see any grounds for concern about specific firms?
  13. C

    Is cash no longer fully insured in an IB account ?

    Thanks to you and the others in these threads for eventually getting everybody on the same page, including the SIPC and IB!
  14. C

    IB TWS security token asked after disconnection

    I doubt that that is the issue. My ip address never changes and I have the problem.
  15. C

    IB TWS security token asked after disconnection

    It is possible, but there is an old saying: "Never attribute to malice that which can be adequately explained by stupidity." It is still possible that it is just a bug. Even if not, the most graceful way for them to backtrack (or to browbeat their developers into submission on this issue)...
  16. C

    IB TWS security token asked after disconnection

    As I think back, what used to often happen on a momentary communications glitch is that I would see a new logon prompt, and IBController (which I run) would instantaneously intercept it and log on again. There was no prompt for the security token in this case. I did notice that and thought...
  17. C

    IB TWS security token asked after disconnection

    I think before it did not need the security token to reconnect - it just did it automatically. I saw it reconnect after a glitch without asking for the token on many occasions before. Probably this change is a "security enhancement."
  18. C

    wire transfer trouble

    I found similar complaints at http://www.trade2win.com/boards/brokerages/142204-td-ameritrade-withdrawal-issues.html Many or most of the reports seem to be from non-USA posters.
  19. C

    wire transfer trouble

    Happily IB is not doing this for U.S. citizens like me either, at least not yet. I have wire transfers go through right away. Of course IB does have some additional security mechanisms of its own such as its token devices and its time delays after adding a new destination account etc.
  20. C

    Benefits/Drawbacks to trading through an LLC?

    You might get away with you never know what investigative means they use. Among other things you would be committing offenses in both New York and Wyoming by failing to notify of your correct residential address for your driver's license. Cops ask where you live now every time they stop...
Back
Top