Interactive Brokers Canada Inc. is a Member of the Canadian
Investor Protection Fund (CIPF). As such, your Interactive Brokers
Canada account is covered by CIPF for up to $1,000,000 for losses
related to securities and cash balances that result only if Interactive
Brokers Canada becomes insolvent. CIPF does not cover customers'
losses that result from other causes such as changing market
values of securities, unsuitable investments or the default of
an issuer of securities. Separate accounts of customers are each
entitled to the maximum coverage of $1,000,000 unless they are
combined with other separate accounts.
In addition to CIPF coverage, customer securities accounts at
Interactive Brokers are protected up to $30 million (including
up to $1 million for cash). The market value of your stocks,
options, warrants, debt, and cash -- denominated in all currencies
-- is covered by this insurance. Futures, options on futures,
and single stock futures are not covered, but available cash
will be swept from your futures account to your securities account
periodically so as to take advantage of insurance coverage as
much as possible. As with all securities firms, this insurance
provides protection against failure of a broker-dealer, not against
loss of market value of securities.
This protection is provided by the Securities Investor Protection
Corporation (SIPC) and Lloyd’s of London insurers. SIPC
provides the first $500,000 per customer (including up to $100,000
for cash). For customers who have received the full SIPC protection,
the Lloyd’s policy provides up to an additional $29.5 million
(including $900,000 for cash), subject to an aggregate limit
of $150 million.
For the purpose of determining a customer account, accounts
with like names and titles (e.g. Individual/John Smith and Individual/John
Smith) are combined, but accounts with different titles are not
(e.g. Individual/John Smith and IRA/John Smith).
SIPC is a non-profit, membership corporation funded by broker-dealers
that are members of SIPC. For more information about SIPC and
answers to frequently asked questions (such as how SIPC works,
what is protected, how to file a claim, etc.), please refer to
the following websites:
http://www.SIPC.org
http://www.nasdr.com/sipc_protection.htm
or contact SIPC at:
Securities Investor Protection Corporation
805 15th Street, N.W. - Suite 800
Washington, D.C. 20005-2215
Telephone: (202) 371-8300
Facsimile: (202) 371-6728
Lloyd’s of London is a world leader in the insurance industry.
Click here for
FAQs on Securities Account Protection.
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