Does Firstrade offer any account protection?
Firstrade Securities Inc. is a member of the Securities Investor Protection Corporation (SIPC). SIPC provides up to $500,000 of coverage, with a limit of $250,000 for cash balances.
Our clearing firm, Apex Clearing Corporation, has purchased an additional insurance policy totaling $150 million, through a group of London Underwriters (with Lloyd's of London Syndicates as the Lead Underwriter) to supplement SIPC protection. This additional insurance policy is limited to a combined return to any one customer from a Trustee, SIPC and London Underwriters of $37.5 million, including cash of up to $900,000.
These protections do not protect against any decline or loss in market value of the securities in your online trading account. For additional information please click here.