The Final, Definitive Thread on Brokerage Transfer Bonuses

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sc9182
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Joined: Wed Aug 17, 2016 7:43 pm

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by sc9182 »

SlowMovingInvestor wrote: Mon May 03, 2021 9:38 am
Leesbro63 wrote: Mon May 03, 2021 9:36 am
SlowMovingInvestor wrote: Sat May 01, 2021 2:16 pm
Leesbro63 wrote: Sat May 01, 2021 1:13 pm I wouldn’t feel safe putting more than the SPIC insured amount in M1. The recent Robinhood episode confirms that for me.
What RH episode ? I don't have an account in RH, but I believe they have insurance up to $1.5M. I question their business practices such as selling order flow, video game-izing options, but I wouldn't be concerned about failure leading to loss of my investments.
Insurance up to $1.5M, but what is the aggregate "cap" for claims on all accounts? I admit that no one lost money, to my knowledge, at Robinhood because of any failure. I'm just saying that their inability to handle whatever happened would concern me if I had more than the SPIC limit there.
I'm guessing cap is around $2B, which is the same as Fido, MS/Etrade etc. But yes, it's much safer to be at Fido or MS than RH in the event of a massive failure.
It’s an opportunity- or make your own wise choice. It’s your money after all.

All I said was - we did 3-4 M1 transfers and bonuses — all went extremely smooth and timely (be cognizant of M1 once-a-day trading rules — then again - we never trade; we simply buy and hold .. so it doesn’t matter much to us)

As far as SIPC insurance- the actual holdings are held at Apex Clearing (expected to go public at $5 Billion !?) knowing eTrade sold out for $13 billion — we are not talking peanuts around here. Anyhow .. here we are in the Bonus opportunities thread — discussing where/why not to do bonuses — May be someone should start a new thread on such topic and see how much it gets traction !?
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