Account Protection & Security
As a Schwab United Kingdom account holder, you automatically enjoy the protection afforded by The Securities Investor Protection Corporation (SIPC). SIPC was established in the US to protect investors from loss of securities or money in the unlikely event of broker insolvency. Your assets are immediately eligible for this cover whether you are trading over the web, the hotline or in person at the Schwab Investor Center.
SIPC provides up to US$500,000 of protection for brokerage accounts held in each separate capacity (e.g., joint tenant or sole owner), with a limit of US$250,000 for claims of uninvested cash balances. This protection does not cover fluctuations in the market value of your securities. Account protection is not provided by SIPC for the accounts of banks or broker/dealers maintained for their own accounts.
How much does excess SIPC protection cost me?
This coverage is automatically extended to our clients at no cost.
Where can I get more information?
More information about SIPC coverage is available at www.sipc.org.
Additional protection from Lloyd 's of London and other London insurers
At Schwab, our customers receive an extra level of coverage. We've chosen a program led by Lloyd's of London, a well-respected name in the insurance industry, as underwriter for additional brokerage insurance. This "excess SIPC" protection of securities and cash is provided up to an aggregate of US$600 million, limited to a combined return to any customer from a trustee, SIPC, Lloyd's, and other London insurers of US$150 million, including up to US$1,150,000 in cash. This additional protection becomes available in the event that SIPC limits are exhausted and there are no additional funds available from the estate of the failed brokerage firm.
When you place an order or provide personal information in our Customer Centre, we encrypt it using Secure Socket Layer (SSL) technology. SSL protects information as it crosses the Internet. To support this, you need a SSL-capable browser.
Schwab recommends using a strong encryption, 128-bit browser like Microsoft Internet Explorer 5.01 or Netscape Navigator 4.5 or higher. When you're connected to a secure server, the padlock symbol on the bottom right of Netscape Navigator's and Internet Explorer's browser screen is shown locked. If you like, you can download the latest strong encryption browser from Netscape or Microsoft. At places where or your web browsers do not support 128-bit encryption, the security protection applicable to your web browser may be lower than those that support 128-bit encryption.