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Offshore / International Bank accounts

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  1. #51

    Join Date
    Apr 2019
    Posts
    221
    Quote Original Post:
    Yes. I believe so. As you'd be with invest direct, their UK group. UK gov would protect you up to 80k or whatever it is.
    so what would be the same for IB HK?

  2. #52

    Join Date
    Dec 2009
    Posts
    184
    Quote Original Post:
    Sorry. Didn't reply to this. What I meant was that each country only protects its own shares at its own institutions. So that 500k USD protection with IB only applies to US listed stocks and ETFs, not any UK or EU listed/domiciled securities. Basically if your brokerage goes bust, governments are only protecting local investments, not foriegn ones.

    Likewise if you were in the UK, investing with Hargreaves and Lansdowne, and they went bust, the UK gov are only protecting shares you hold listed in the UK. That's my understanding anyway.
    US stocks/etfs held with IB HK wouldn’t get 500k usd protection

    500k HKD protection by hk govt applied to HK brokerage positions on hk, sh and sz exchange only
    https://www.hkicc.org.hk/investor/fund_limit_e.htm
    TheRoadAhead likes this.

  3. #53

    Join Date
    May 2019
    Posts
    411
    Quote Original Post:
    US stocks/etfs held with IB HK wouldn’t get 500k usd protection

    500k HKD protection by hk govt applied to HK brokerage positions on hk, sh and sz exchange only
    https://www.hkicc.org.hk/investor/fund_limit_e.htm
    I was referring to the SIPC protection. I think IB have something on their site clarifying that HK investors are protected by it, and I emailed SIPC myself who confirmed TDAmeritrade and Charles Schwab investors in HK were protected. This was about a year ago though, I started a thread about it.

    Edit: Yes see Chichow's reply to theroadahead on page 2
    foxwendal likes this.

  4. #54

    Join Date
    May 2019
    Posts
    411
    Quote Original Post:
    so what would be the same for IB HK?
    Chicow already quoted you with the relevant link. Page 2 I think.

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