4 ms·
“I disagree with the statement that these funds are protected by SIPC,” Stephen Harbeck, president and chief executive officer of SIPC. Not sure that leaves a
by aresant 8y ago
“I disagree with the statement that these funds are protected by SIPC,” Stephen Harbeck, president and chief executive officer of SIPC.
Not sure that leaves a lot of room for speculation - don’t sign up to use Robinhood as a savings account unless you are comfortable doing so without an FDIC level of guaranteed protection.
- MrRadar 8y agoWithout deposit insurance Robinhood would be extremely vulnerable to a bank run. In the event of even a slight market downturn I can't see why depositors wouldn't immediately withdraw their funds to an insured account (at the cost of only a slight reduction in interest) just to hedge their risk.