How much cash do you dare risk.... in case a broker goes bust?

Beginner Questions
1

I was just wondering how much cash you people are willing to have with a broker?

The obvious answer is ‘no more than you are willing to lose’ but…

My broker is FCA registered, and I have been dabbling with 100gbp. I would however, be scared to put 10,000gbp into the broker, in case they ever go bust (regardless of my trading abilities) because, sometimes, no matter how reliable a company appears, it happens!

If however, my money is in a UK bank, I am protected upto 85,000gbp by the Financial Services Compensation Scheme (FSCS) meaning if the bank goes bust, I can still get my money back.

So in summary, how much capital do you have with your broker?

I would be interested to hear some numbers, experiences and words of wisdom…

Thanks

2

You can always split your capital between different brokers and I think if you are scared to deposit 10K with a broker then you should not even deposit 100. I understand where you are coming from as some well-known brokers did go bust or faced heavy fines for messing with traders cash.