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Non-Tech : Datek Brokerage $9.95 a trade -- Ignore unavailable to you. Want to Upgrade?

To: shasta23 who wrote (5526)10/21/1997 1:59:00 PM
From: Jack Zahran  Respond to of 16892
 
I believe your understanding is correct. It looks like SIPC is standard and the minimum that is required.



To: shasta23 who wrote (5526)10/22/1997 2:51:00 AM
From: Joe Fang  Read Replies (1) | Respond to of 16892
 
Stefan...

By law...brokerages have to be a member of SIPC, which insures your account up to 500,000 dollars. Cash is FDIC insured which is limited to only 100,000 dollars just like any bank.

Datek carries an additional insurance policy which protects your account up to 2.5 million dollars total (.5 million by SPIC). Their insurance co. is Lloyds of London.

Joe


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