Friday, November 30, 2007

E*Trade Canada

Q – I have approximately $10,000 in cash in E*Trade’s high interest "cash optimizer" account. Is this money safe?

A - As far as cash is concerned, money kept in brokerage accounts is not usually protected by deposit insurance. E*Trade Canada is not a member of the Canada Deposit Insurance Corporation (CDIC) but neither are other brokerage firms.

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