Tax Season is Here! Save 15% on H&R Block Online
iconAll times are GMT -4. The time now is 01:33 PM. | Search:

» StockRants Stock Forum » Public Stock Forums » Online Brokers » Brokerage account "cash" balance FDIC insured?



Reply
 
Thread Tools Search this Thread
Old 10-05-2014, 08:47 PM   Nav to Top  #1
miamicuse
Junior Trader
 
miamicuse's Avatar
 
Join Date: Mar 2012
Location: Miami, FL
Posts: 1
Favorites: AAPL Z TSLA
Rep Power: 91
Reputation: 10
miamicuse is on a distinguished road
Default Brokerage account "cash" balance FDIC insured?

My understanding is most investment accounts at brokerage firms are not FDIC insured.

However I have a friend who has a TD Ameritrade brokerage account and he said he noticed something different.

Let's say his account has 200K, where 100K of it are in stocks, and the other 100K in cash - well not exactly cash but held as money market assets. But when he looks at his account balance it shows the cash as:

Cash Sweep Vehicles Interest Rates
TD Ameritrade FDIC INSURED DEPOSIT ACCOUNT, NOT COVERED BY SIPC
Cash in the IDA is held at TD Bank, N.A., TD Bank USA, N.A., or both. Assets at each bank will be eligible for FDIC insurance of up to $250,000 per depositor. Because there are two banks in the IDA program, IDA balances could be covered for up to $500,000 per depositor. TD Bank N.A. and TD Bank USA, N.A. are affiliates of TD Ameritrade.

So, that means his cash position is FDIC insured for up to 500K?

I have accounts with Schwab, JP Morgan, Fidelity and I think not a penny of it is FDIC insured. Seems like a good feature to have? Or may be they all do I just didn't see the fine print?
miamicuse is offline   Rate this post Yes | No Reply With Quote
Reply

Similar Threads
Thread Thread Starter Forum Replies Last Post
"Persistent Investment Needed" to Support Gold as Indian Duty Hike "Kills Imports" LIB3RTY Rumors & News 0 03-29-2012 04:48 PM
A/V presentation - "Relative Strength and Portfolio Management" Strohem Traders Lounge 2 02-15-2011 08:58 PM
Strong Buy: BIG NEWS TODAY "Torch River Assays Over 30% Rare Earth Oxides And Over 26% REES" vaiman Canadian Stock Picks 0 11-23-2010 08:16 AM
Strong Buy: Stentor Media "Live" Interviews Chad Ulansky StentorMedia Canadian Stock Picks 3 10-25-2010 02:03 PM
Hold Press "The key to trading: don't lose, says Trader Vic" samnorris Traders Lounge 1 06-12-2009 01:09 PM


Thread Tools Search this Thread
Search this Thread:

Advanced Search

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is On