From what I have found to date SIPC protection offered by US brokers (500k of which 250k can be cash in the case of broker going belly up) is extended to all customers of that US broker regardless of the customer’s nationality….try as I might I have not been able to find any similar type of protection for customers of Australian brokers (by ASIC or anyone else) but I will keep looking…if it doesn’t exist for Aus broker’s then it would seem that money would be safer with a US broker ?
If you are an Aussie resident you have no choice but to be with IB Australia or are you just stating we are now more susceptible than the American clients.
We do have a choice but no longer with IB. I am saying that being with a US broker that offers SIPC protection to Australian clients has some obvious advantages.
