Earn 5.1% APY*
with Indexfxmetrics Cash Sweep

When the uninvested cash in your brokerage account is swept to deposit accounts at program banks, it becomes eligible for FDIC insurance up to $1 million or $250,000 per program bank, inclusive of any other deposits you may already hold at the bank in the sameownership capacity, which may impact how much is covered. You are responsible for monitoring the total amount of deposits that you have with each Program Bank, in order to determine the extent of FDIC deposit insurance coverage available to you MFI is not responsible for any insured or uninsured portion of the Deposit Accounts or any other deposits at the program banks.

Please note that until funds are swept to a program bank, they are held in your brokerage account which is protected by SIPC. Once funds are swept, they are no longer held in your brokerage account and are not protected by SIPC. However, these funds are eligible for FDIC insurance through the Program Banks subject to FDIC insurance coverage limits.