We have already seen the failure of one of the new kids on the block (Futuresbetting.com) and others are likely to fail as well if the carnage continues. The higher the level of risk the firm takes on its own books, the higher the likelihood of it failing. Deep pockets alone are not enough to stay afloat especially as most of them are not as smart as they think they are. The most important factor that will determine survival is in house risk management.Just a thought but just how safe are our spread bet accounts ?
With mighty banks reeling from knockout blows from the market should one lower ones account to minimum size just in case ?
With the way I trade, mine are in enough trouble already.Just a thought but just how safe are our spread bet accounts ?
Interactive Brokers do in fact pay a pretty good rate of interest on unused Margin money over a certain balance. But you're right, most dont.As far as I'm aware theres not a broker on the market place that pays interest on money on account so as always the rule.
I think the protection is also for SB firms as well but as I said earlier the problem is not whether you cash is guaranteed or not, rather how long it takes to pay out. I would assume a minimum of 6 months.With a lot of brokers, possibly not SB though, you can ask to be treated as a retail investor then you get the FSA protection for £35k
Global Trader I assumeWe know FB has folded, but anyone know which other SB co is (according to the CS thread) about to go pop?
any idea how safe your money is with interactive brokers?I think the protection is also for SB firms as well but as I said earlier the problem is not whether you cash is guaranteed or not, rather how long it takes to pay out. I would assume a minimum of 6 months.
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