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Most brokers sweep your cash funds to a money market fund. This counts as a
security so youčre not really in cash as far as insurance is concerned.
Double check with your broker to be sure.
--
Terry
From: "Steve Dugas" <sjdugas@xxxxxxxxxxx>
Reply-To: amibroker@xxxxxxxxxxxxxxx
Date: Mon, 27 Sep 2004 21:42:42 -0400
To: "Amibroker Yahoo Group" <amibroker@xxxxxxxxxxxxxxx>
Subject: [amibroker] OT: Broker Insurance
Hi All,
I was just going through some of the fine print on my broker's website
(Ameritrade). I knew that they had 2 types of insurance for client accounts:
SIPC up to $500K and supplemental insurance up to $25M. But I was surprised
to discover that the SIPC limit for cash is only $100K and the supplemental
insurance doesn't cover cash at all. From time to time, I do have more than
$100K in cash so this worries me a little. Does anyone know of any brokers
with insurance that covers cash to a larger extent? Thanks very much!
Steve
[Non-text portions of this message have been removed]
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