Financial Security
optionsXpress, Inc., our clearing firm, is a member of SIPC, the Securities Investor Protection Corporation, which protects against losses caused by the financial failure of the broker-dealer, but not against losses resulting from depreciation in a security’s value. Your optionsXpress Australia accounts, through our clearing relationship, are SIPC insured up to $500,000 (including up to $250,000 for cash claims).
Additionally, optionsXpress, Inc. at its own initiative, and at no additional cost to you, has secured excess SIPC coverage to provide additional account protection beyond the standard limits. Their excess SIPC policy covers in the aggregate up to $100,000,000 each and every loss, subject to a maximum limit of $24,500,000 per customer, $900,000 of which may be cash. Please contact us for more details.
