My two option are Fidelity Government Money Market Fund (SPAXX) or Fidelity Treasury Fund (FZFXX), neither of which is FDIC insured.Your core position is where your money is held until you invest it. Fidelity Investments automatically places your uninvested money into a money market mutual fund. You may instead select a money market fund either now or after your account is open. View other options.
If I am to understand this correctly, my available cash balance in Fidelity could be subject to losing money??? I want my cash balance to be just that. Cash. I don't care about it gaining money, as I only have it there for short periods between purchases. But I DEFINITELY do not want it to lose money, not a penny. I went back to check Scottrade, and I can't find anything listed about any type of core position.
Is Fidelity the only who does this? Or are they just the most transparent about it?