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Non-Tech : Interactive Brokers / Timberhill
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To: donv who wrote (1567)5/24/2001 12:14:17 AM
From: Dan Duchardt  Read Replies (1) of 9012
 
donv,

Does that concern anyone here, it sure concerns me, or is the rep incorrect??

The information you have from the rep is consistent with my understanding, and that of other IB users. Only the minimal insurance is carried. For many of us, account size makes this of no concern, but for a large account it is certainly a consideration. I discussed this issue with an IB marketing rep over a year ago. It is their contention that IB accounts are adequately protected by their margin rules which include automatic liquidation of positions in any account that falls below margin requirements. Unlike many brokers, IB does not issue margin calls and does not allow clients to make trades under the "good faith" provisions of Reg T. You must have money in the account before entering a trade, and sufficient margin to carry all positions.

Dan
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