SIPC
SIPP INDUSTRIES INC NEW
stock OTC

8f you are going to keep BTC on an exchange you might as well just hold a BTC ETF at a traditional brokerage -- at least then you have SIPC protections.
The only reason to hold money on an exchange is to trade or hold until you have enough to make it worth it to transfer to cold storage without having a ton of tiny txos to your wallet that would increase your cost of spending your btc in the future.

The problem goes back to turning a stock market based entirely on paper stock certificates to a stock market that could operate digitally.
You can't trade the same share thousands of times a day if you have to deliver the certificate, so instead of saying "you can't trade a share thousands of times a day" the powers that be decided to say "we should put all shares into a central depository that acts as direct owner for all those shares, and then people can 'trade' the contractual obligations to those shares instead".
And thus the DTCC was born.
Schwab never buys shares when their customers buy a share. The name on a contractual obligation to a share owned by the DTCC changes. That's true for all shares of all stock not held at transfer agents across the entire market.
https://www.investor.gov/introduction-investing/general-resources/news-alerts/alerts-bulletins/investor-bulletins-97
If Schwab fails, then the same thing happens to you that happened to people who had accounts at Bear Sterns and Lehman Brothers when those brokerages failed. For the most part, their accounts moved to the brokers that bought them out. For some, their shit was given away to institutional creditors to cover the corporation's obligations. Then the people that got their shit stolen were obliged to sit in court for a decade or so to recover pennies on their dollar.
Contractual obligations only go so far as your counterparty still existing, and if Schwab was to blow up entirely, then you're suing a corpse or believing that government SIPC is going to save you. (it won't)

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You can talk about about all of that, we just ask that you do it in the right spot on our sub.
https://www.reddit.com/r/fidelityinvestments/comments/1riv3z1/monthly_investing_discussion_thread_investing/
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SIPC, SIPC Excess or whatever it's called, FDIC

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I'm new to this and started with a small $5k account in stocks and forex last year, but I got nervous about what happens if the broker goes bust. I read that some offer extra protection beyond standard SIPC, like up to $1M per client through Lloyd's of London if insolvency hits. That's why I went with a broker that has client funds insurance, it gives me peace of mind knowing my money isn't just gone in a worst-case scenario.
In my case, I lost about 10% on a bad trade early on, but the insurance layer made me feel safer overall, especially since I'm only putting in what I can afford to lose. It covers events like broker failure, not my trading mistakes, and it's free as part of the account. Have any of you beginners factored this into your broker choice?
What brokers do you use that have strong insurance, and has anyone actually needed to claim it?

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Thats tough to say in this technologically booming environment. On one part a reduction in front facing staff (people whom answer calls, emails, web chats, etc.) is a negative from a client servicing perspective. On the other hand there are many remedial questions that can be answered through AI and self education tools. A reduction in these roles could be a result of new bloat due to these tools. While AI is for the most part shit and bullshit, eventually as a search function it could become something better. So staff layoffs may not be an exact indicator of "shit just got real."
I would say one big thing would be a lack of liquidity for outbound wire transfers. Understandably there is only so much liquidity in a bank account to send out wires before it is depleted an no new wires can go out for that day. This is a fairly rare occurrence but one I would consider a pretty big indicator. This would not be a equalateral event as a bank run as a brokerage firm is not a bank. But assets leaving in large quantities due to fear of lack in SIPC coverage would be equivalent to a bank run. That would be an uptick in asset transfer out via dtc, acat, drs, non acat, you get it.
I am not high in the company I work for. My thoughts are of my own opinion and not reflective of the company in which I have not, nor will state that I work for.

Again, "significant money on individual stocks" is true, but meaningless. You have to buy the right stocks at the right time. As opposed to the growth-fund approach, where all you have to do is buy.
Likewise, claims of "lost decades" are meaningless (and no, there haven't been "plenty" of them, and none that don't include the Fall 1929-Summer 1932 period when things like FDIC and SIPC didn't exist, and you don't cite "decades" anyway, just individual bad years), because the OP is looking at 50 years. WRT your bogus "lost decade" choices, the market more than doubled Oct 2007 to Oct 2017. Check your other individual years for similarities.
And no one here is claiming that "the market always moves up"; the stated ***facts*** are that the market moves up more than it moves down, and that there has never been a losing sequence of even 20 years, much less the OP's 50-year horizon.

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You said if schwab the company went down you would lose 90% of your money , no that is not the case
Ok so what if the fund manager is committing fraud however unlikely here is how it would go down
1. Schwab would be required to put up its own money
2. If it cannot schwab the company will be sold and the the proceeds will be used to cover the money
3. If that still is not enough SIPC kicks in
So what to do if you have 1 million dollars and ultra paranoid ? Buy 250k of
[SWVXX](https://www.schwabfunds.com/products/SWVXX) , [SNVXX](https://www.schwabfunds.com/products/SNVXX) ,[SNOXX](https://www.schwabfunds.com/products/snoxx) ,[SNSXX](https://www.schwabfunds.com/products/snsxx)
If one of those fund manager is committing fraud basically SIPC would step in
Now you are going to say "Well what if all 4 fund managers are committing fraud" what are the chances of that? Also they have institutional funds that have a 1 million minimum you can only buy into the fund if you have 1 million plus dollars , companies and institutions put tens of million into those funds all the time. Out of all the things to worry about , having a treasury money market fund break the bank is not something you need to worry about.