Like Tree13Likes

low fee Index Funds such as Vanguard..

Closed Thread
Page 10 of 10 FirstFirst ... 2 7 8 9 10
  1. #91

    Join Date
    Mar 2008
    Posts
    202

    It seems the money in the cash account is SIPC insured, not the money in stocks. What kind of nightmare one will have to go through to get use of the stocks he owns if Etrade gors bankrupt ? I had the displeasure to see my account frozen after they received the first deposit and it wasn't fun. Quite a few scary stories on the net regarding Etrade frozen accounts, so i suspect it would be much worse if they went bust.

    Anyone has an idea on how etrade customers, particulary overseas ones, could proceed to get back control of the stocks they own , which would probably have to be delinked from the Etrade bank account ?


  2. #92

    Join Date
    Mar 2006
    Location
    Hong Kong.
    Posts
    1,355
    Quote Originally Posted by LuisHK:
    It seems the money in the cash account is SIPC insured, not the money in stocks. What kind of nightmare one will have to go through to get use of the stocks he owns if Etrade gors bankrupt ? I had the displeasure to see my account frozen after they received the first deposit and it wasn't fun. Quite a few scary stories on the net regarding Etrade frozen accounts, so i suspect it would be much worse if they went bust.

    Anyone has an idea on how etrade customers, particulary overseas ones, could proceed to get back control of the stocks they own , which would probably have to be delinked from the Etrade bank account ?
    That is almost certainly wrong. What do you base that statement on?

  3. #93

    Join Date
    Mar 2008
    Posts
    202

    Quite possibly wrong Checked again and it seems I got confused with the FDIC's guarantees for deposits and SIPC's guarantee for securities. Will read further into the matter !


  4. #94

    Join Date
    Feb 2009
    Location
    Gulf Region, ex Mid-Levels
    Posts
    1,933

    From my statement

    Securities products and services are offered by E*TRADE Securities LLC, Member FINRA/SIPC. Sweep Deposit Account is a bank deposit account with E*TRADE Bank, a federal savings bank, Member FDIC.
    We can do some more navel gazing here, but I think the text above is pretty clear.

Closed Thread
Page 10 of 10 FirstFirst ... 2 7 8 9 10