What is FDIC Sweep Program?
FDIC Sweep Program (“FDIC - Insured Sweep Program”) is an interest-bearing deposit program insured by Federal Deposit Insurance Corporation (FDIC). It is offered through our clearing partner, Apex Clearing Corporation.
Uninvested cash in your account is automatically deposited to the FDIC Sweep Program. It will earn interest based on the amount and duration of deposits and applicable interest rates.
Deposits to the FDIC Sweep Program are covered by FDIC insurance up to $250,000 per account holder per insured bank, see a list of participating banks. Please review additional product overview at www.fdic.gov.
For more information on FDIC Sweep Program, please read the Terms and Conditions to learn more details.