Security on accounts and brokers

[romad7]

Do Aus not have an agency for protecting funds like the FSA do in the UK or the SEC do in the US?
FSAK protect up to £50k.
Think the US is massive like a few hundred thousand or mill.

The SEC protects accounts? I thought they were only a regulatory agency. The FDIC insures bank accounts up to $100,000 but you would have to be trading with a bank and I am not sure how that works with US banks that offer trading.

[SanMiguel]

@romad7

The SEC protects accounts? I thought they were only a regulatory agency. The FDIC insures bank accounts up to $100,000 but you would have to be trading with a bank and I am not sure how that works with US banks that offer trading.

Apologies, it’s not the SEC but the SIPC.
500k protection in existing securities and 100k in cash.
The broker needs to be a memeber of the SIPC I think, which most f the main ones are:

…Securities Investor Protection Corporation (SIPC), which protects securities held by investors up to $500,000, including a maximum of $100,000 in cash claims. A brochure with the details of SIPC protection is available at SIPC - Securities Investor Protection Corporation.

[goldboroib]

I need to research it more but If you just want the segregated account protection then open a regular spot forex account through an good regulated broker. As i know GoldBoro 2 step authentication security level for account (as in bank digipass).Two-factor authentication adds an extra layer of security to trader account.