Cash balances at TradeKing do not pay any interest
Interest-Bearing FDIC Insured Deposit Account - Cash Sweep Program
Current Yield: 0.01%
In a continuous effort to provide you with excellent customer service and access to the most beneficial product mix available, we are proud to introduce the new Federal Deposit Insurance Corporation (FDIC) insured Sweep Program offered by our clearing firm, Apex Clearing Corp. The Sweep Program allows your cash balances to be eligible for insurance protection through the FDIC up to the maximum applicable insurance limits.
Your available cash balances in the Sweep Program, together with any other of your deposits held at the same financial institution, are eligible for deposit insurance by the FDIC up to a specified amount (principal and accrued interest) per depositor in each insurable capacity (e.g., individual or joint). The deposit insurance limit for all insurable capacities is $250,000 per bank.
As with all investments, you should consider carefully if this Sweep Program meets your investment objectives. TradeKing provides no investment, legal, or tax advice. Please ensure that you read the Disclosure Statement carefully as it describes the terms and conditions of the Sweep Program and modifications to your Account Agreement.
Your current investments are covered up to a maximum of $500,000 total, including $250,000 in cash balances through the Securities Investors Protection Corporation (SIPC). SIPC coverage does not insure against the potential loss of market value. Once your cash balances are deposited with the participating banks under the Sweep Program, they will no longer be covered by SIPC.
To enroll: please complete the Cash Sweep Form.
20150909 - Cash Sweep - V11