Do Any Firms Besides IB offer Safety of Funds ?

J

jaygould

I don't like the fact that Interactive Brokers is closed 15 minutes everyday, since I like to leave positions in over night and want my stops protected, but they seem to be the only forex firm where your money is protected by the SIPC.
Am I correct about this ?
Are there any other firms or ways that you can trade forex and have your money protected ? Or are they the only one ?
 
SIPC doesn't cover currencies or futures. They only protect cash, stocks, and bonds. Not sure if this means your cash in an FX account is covered or not.

http://sipc.org/how/covers.cfm

You might want to make sure that your FX broker either has a strong financial statement or keep your deposits small and take advantage of high leverage. Ideally you would do both.
 
Quote from jaygould:


Are there any other firms or ways that you can trade forex and have your money protected ? Or are they the only one ?
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Any FSA regulated broker, or I believe funds are protected trading futures but I'm not sure.
 
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