I’m quite new to the Forex market so please forgive me if this is dumb, but I read something about U.S. Forex brokerage accounts being covered up to a certain amount, similar to the FDIC covering up to $250,000 in your checking account. Is this true, who does this, what is the exact amount, can you have multiple accounts covered, and is there anything else that would help this new fish regarding this topic? Thanks in advance.
Yes it is, for the event that the broker goes bust etc…the coverage depends on the location/regulation. Why do you ask this question.