ANSWERS: 1
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No. Investments at brokerage houses are protected by the Securities Investor Protection Corporation (SIPC), which will cover your losses up to $500,000 in the event of brokerage house failure or fraud. The SIPC does not insure against market losses.
Source:
Securities Investor Protection Corporation; Understanding Your Brokerage Account Statements
More Information:
Kiplinger; Is My Money Really Safe?; Joan Goldwasser et al.; Sept. 18, 2008
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