Interactive Brokers Canada Inc. is a Member of the Canadian Investor Protection Fund (CIPF). As such, your Interactive Brokers Canada account is covered by CIPF for up to $1,000,000 for losses related to securities and cash balances that result only if Interactive Brokers Canada becomes insolvent. CIPF does not cover customers' losses that result from other causes such as changing market values of securities, unsuitable investments or the default of an issuer of securities. Separate accounts of customers are each entitled to the maximum coverage of $1,000,000 unless they are combined with other separate accounts.
In addition to CIPF coverage, customer securities accounts at Interactive Brokers are protected up to $30 million (including up to $1 million for cash). The market value of your stocks, options, warrants, debt, and cash -- denominated in all currencies -- is covered by this insurance. Futures, options on futures, and single stock futures are not covered, but available cash will be swept from your futures account to your securities account periodically so as to take advantage of insurance coverage as much as possible. As with all securities firms, this insurance provides protection against failure of a broker-dealer, not against loss of market value of securities.
This protection is provided by the Securities Investor Protection Corporation (SIPC) and Lloyd’s of London insurers. SIPC provides the first $500,000 per customer (including up to $100,000 for cash). For customers who have received the full SIPC protection, the Lloyd’s policy provides up to an additional $29.5 million (including $900,000 for cash), subject to an aggregate limit of $150 million.
For the purpose of determining a customer account, accounts with like names and titles (e.g. Individual/John Smith and Individual/John Smith) are combined, but accounts with different titles are not (e.g. Individual/John Smith and IRA/John Smith).
SIPC is a non-profit, membership corporation funded by broker-dealers that are members of SIPC. For more information about SIPC and answers to frequently asked questions (such as how SIPC works, what is protected, how to file a claim, etc.), please refer to the following websites:
http://www.nasdr.com/sipc_protection.htm
or contact SIPC at:
Securities Investor Protection Corporation
805 15th Street, N.W. - Suite 800
Washington, D.C. 20005-2215
Telephone: (202) 371-8300
Facsimile: (202) 371-6728
Lloyd’s of London is a world leader in the insurance industry.
Click here for FAQs on Securities Account Protection.
