IB and CD FDIC

JackMorgan

JackMorgan

Mysteriously, IB claims their secondary market CD's are not FDIC insured.

Seems impossible for that to be true, so does anyone here have the skinny on that ?
 
A brokered CD may not be insured by the FDIC. This product may be offered by a stockbroker who serves as a deposit broker for the issuing bank. Brokered CDs pay a higher rate of interest than typical CDs, but they usually require a minimum deposit amount and sometimes a fee to purchase one. Most of these CDs are considered deposit products, and therefore are FDIC insured, but some are considered securities, which are not insured by the FDIC.
 
SOME. VERY FEW (relatively) are not insured as far as I know.

They dont say some . THEY SAY ALL. are not insured. And they have a fairly long list , so how is that possible ?
 
JackMorgan said:
as usual, cant get a straight ans here
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If you want a straight answer, just call them.

Here is the relevant info you need, pointed out to you with pretty colours.

jackmorganfdic.JPG


You are welcome.
 
Fain said:
Out of 3 Options. FDIC, the ISSUER, and a Brokerage(middleman) your only contacting the 3rd place which obviously would know less than both FDIC and Issuer.
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He got his answer before he supposedly put me on ignore with my response, so he has the information. Since he has not posted a follow-up in nearly a month, this was never a real issue for him. He was just whining and being generally stupid and trollish.
 
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