@Sig, thanks for the reply. First hit on google for ETF issuers: http://etfdb.com/issuers/ The thing is, these can all go bankrupt and I am not sure what happens with ETF positions when they do... The assets the issuer holds issue to the ETF might be locked or whatever. I'm not so sure it's all daisies when that happens. ETN will off course be more risky since you trade a debt note with more direct default risk. So ETF definately has cpty risk. Now, it does say on SIPC that cash is covered, but not currency... so would that be the cash in the default currency? So for me EUR... for someone else USD or AUD? Currency is also cash. If I have 100k in EUR and 100k USD... are both covered? They're both positive cash balances. And If I would be short 100k EUR but long 300k USD, so basically net long 200k cash... then you're covered for 200k? Then you might still have market risk in the fx short/long position... but you're covered for the total account balance... so I don't see that as a big problem. 1mln EUR short and 1.2 mln USD long, 200k cash balance is fully covered I would think... but you would be f#$@-ed when they see 1mln as a debt to the broker and you lose the 1.2mln - 200k cash balance.... I'll check with IB now. This is IB's insurance/account protection: https://www.interactivebrokers.com.au/en/?f=ibgStrength&p=acc Above SIPC, insured up to 30 mln, max 900k cash... but aggregate is max 150 mln, which seems very low looking at the size of IB client base. If your broker goes bankrupt and you hold ETF or stocks etc in your account, you should get to keep everything, since it's assets held in your name/on your behalf. But if you're leveraged, you might need to come up with extra cash before it's released, since you're effectively a debtor to the failed broker.... also unclear to me. Anyway, I'll check with IB ...