SIPC
SIPP INDUSTRIES INC NEW
stock OTC

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*Fidelity Brokerage Services LLC, Member NYSE, SIPC*

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SIPC only protects you if the broker goes under and loses your shares-it doesn't protect the value of the initial amount you invested if the price of some of your stocks drop. FDIC guarantees the principal you originally invested.
SGOV doesn't need a U.S. default to lose money or freeze-rate swings, fund liquidity limits, or settlement delays do that. You're confusing broker safety with principal safety.

SGOV etc are SIPC covered which is as good as FDIC. The assets are covered if the brokerage goes down and you'll still own the assets.
Unless you are saying that SIPC won't cover you if the federal government can't make good on treasuries? Which I guess is true but if that happens then your HYSA is equally in jeapardy and we all have much bigger fish to fry because we're all cooked at that point.

Yeah do what's right for you. The illusion is as real as numbers on a screen can be. If they go under typically another broker takes over and they have SIPC cover up to $500k. I've tried DRS, didn't match my needs.

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And the others are SIPC insured. In either case, only protects from bank/brokerage/institution failure.

This has been removed for violating rule #2: **limit discussion of securities and investments**.
Thanks for your post seeking investment advice or discussing specific securities. Please keep all conversations about portfolios and specific investments in our monthly discussion post.
Fellow Redditors may offer an opinion on investments. Fidelity doesn’t endorse any of the expressions, opinions, or content posted by non-Fidelity members or any third parties on  r/fidelityinvestments. Do not rely on comments to form the basis of an investment decision.
Always make sure to do your due diligence before investing. Remember to look for the “Community Care Representative” flair to make sure it’s us.
*Fidelity Brokerage Services LLC, Member NYSE, SIPC*

This has been removed for violating rule #4: **do not use profanity**.
Remember that this is a community that's focused on investing education and Fidelity customer care. Please do not use profanity or obscene language.
If you remove the instance of profanity and let us know. We will re-approve, or you can repost it.
For further assistance with this matter, please send us a Modmail.
*Fidelity Brokerage Services LLC, Member NYSE, SIPC*

This has been removed for violating rule #4: **do not use profanity**.
Remember that this is a community that's focused on investing education and Fidelity customer care. Please do not use profanity or obscene language.
If you remove the instance of profanity and let us know. We will re-approve, or you can repost it.
*Fidelity Brokerage Services LLC, Member NYSE, SIPC*

It's my main broker, I've used it daily for months, so from firsthand experience: yeah, you can trust it in the way you're asking. I've transferred funds from other brokers as well as a Roth IRA and a Traditional IRA so I can manage those funds myself.
Is it legit, and is your money safe? Easy yes. Webull's a FINRA member and SIPC insured, which means your securities are protected up to $500k if the broker itself ever failed. It's a publicly traded company now too — same regulatory backbone as the big names.
"Reliable" — it's solid. Like every broker it has the occasional outage and its share of complaints (so do Schwab, Robinhood, all of them), so it's not uniquely risky — just not magically perfect either. For getting into individual stocks it's a good starting point: commission-free, fractional shares, and it has a paper trading mode so you can practice with fake money before risking real money. Use that.
One honest thought though: the thing that'll actually cost you money as a beginner isn't Webull, it's your own trades (at least that's my case). Pick any regulated broker (Webull qualifies) and put your energy into learning, not into worrying the platform's a scam. The broker safely holding your money and you trading it well are two totally different problems — and the second one is the hard part.

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