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

To: Dan Swartzendruber who wrote (10442)11/25/1998 7:45:00 PM
From: Esteban  Read Replies (1) | Respond to of 16892
 
The daytrading firms I looked at are not a safety concern, since they don't actually hold your securities - they have a clearing house that does so, and they would pretty much need to be SIPC insured.

SIPC is only up to 100k, and day traders often have larger cash balances than that since they are flat at day's end. I wonder what happened to those Block traders who had more than 100k cash in their accounts the day the doors were closed?


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