MB Trading understands the importance that customers place on the safety of their funds. Our customer security and peace of mind has always been a priority. Here are some of the facts about MB Trading and MB Trading Futures, Inc:
Apex Clearing Corporation (Apex) is fully committed to principles of safety and soundness. In compliance with the SEC’s Customer Protection Rule, customer securities, such as stocks and bonds that are fully paid for or excess margin securities must be segregated from broker-dealer securities. This is a legal requirement for all broker-dealers. In the unlikely event of insolvency of a broker-dealer, these segregated assets are not available to general creditors and are protected against creditors’ claims. There are reporting and auditing requirements in place by government regulators to help ensure all broker-dealers comply with this rule. Apex is fully compliant with these customer segregation requirements.
The Securities Investor Protection Corporation (SIPC) is a nonprofit membership corporation that was created by that federal statute. Apex’s membership in SIPC protects customers if the firm fails financially. As a member of the Securities Investor Protection Corporation (SIPC), funds are available to meet customer claims up to a ceiling of $500,000, including a maximum of $250,000 for cash claims. SIPC does not cover certain types of investments such as Commodity Futures Contracts, Forex, or fluctuations in the market value of securities. For additional information regarding SIPC coverage, including a brochure, please contact SIPC at (202) 371-8300 or visit www.sipc.org.
In addition to the SIPC coverage, Apex has purchased an additional insurance policy through a group of London Underwriters (with Lloyd's of London Syndicates as the Lead Underwriter) to supplement SIPC protection. This additional insurance policy becomes available to customers in the event that SIPC limits are exhausted and provides protection for securities and cash up to an aggregate of $600 million. This additional insurance is provided to pay amounts in addition to those returned in SIPC liquidation. This additional insurance policy is limited to a combined return to any customer from a Trustee, SIPC and London Underwriters of $150 million, including cash of up to $2.15 million. Similar to SIPC protection, this additional insurance does not protect against a loss in the market value of securities.