IB UK customers - SIPC or not ?

[valix]

I am questioning whether IB UK customers can benefit from SIPC protection. Indeed, the custodians (for their funds and securities) are maintained by a carrying broker which is a member of SIPC (IB LLC for instance), but they are not customers of IB LLC for purposes of the SEC financial responsibility rules adopted under the Securities Exchange Act of 1934, and the Securities Investor Protection Act.
Thanks for your feedback, I am still hesitating to open up an account at IB UK.

 

[donaldduke]

IB UK are FSA regulated so you will be covered for 50K GBP in the event IB cant pay you.

FSCS - Financial Services Compensation Scheme * *

No idea if this applies to people in France.

 

[valix]

IB UK are FSA regulated so you will be covered for 50K GBP in the event IB cant pay you.

FSCS - Financial Services Compensation Scheme * *

No idea if this applies to people in France.

Thanks donaldduke, but £48k are low compared to SIPC protection. And FSCS only compensates "investment claims", which (I believe) do not include cash

 

[donaldduke]

Thanks donaldduke, but £48k are low compared to SIPC protection. And FSCS only compensates "investment claims", which (I believe) do not include cash

It covers upto 50K deposits:

FSCS - Consumer home page - Consumer Key Facts - Limitations of the scheme - Compensation limits    

 

[mel_pub]

yes IB UK is regulated by the FSA. But you'd better cross your fingers too.

You'll never ever receive any paper statement from IB

 

[Tixu]

I just have checked with IB.
listen that: Even if i am a French client of IB UK, IB say to me i am covered by the US SIPC, and bye the Llyods London insurance :
http://www.interactivebrokers.com/en/accounts/accountProtection.php?ib_entity=uk