Safety of Customer Assets at Apex Clearing Corporation
Member FINRA, NYSE, and SIPC.
Apex Clearing Corporation (Apex) is fully committed to principles of safety and soundness. We run our business with a sound capital structure and have taken appropriate actions to help give you peace of mind about the safety and security of your accounts. We take the protection of your assets very seriously and want to make you aware of the measures our firm is taking to safeguard your accounts and your information.
Your Assets Belong to You
In compliance with the SEC’s Customer Protection Rule, customer securities, such as stocks and bonds that are fully paid for or excess margin securities must be segregated from broker-dealer securities. This is a legal requirement for all broker-dealers. In the unlikely event of insolvency of a broker-dealer, these segregated assets are not available to general creditors and are protected against creditors’ claims. There are reporting and auditing requirements in place by government regulators to help ensure all broker-dealers comply with this rule. Apex is fully compliant with these customer segregation requirements.
SIPC Account Protection
In 1970 the Securities Investor Protection Act was enacted to protect investments and increase investor confidence. The Securities Investor Protection Corporation (SIPC) is a nonprofit membership corporation that was created by that federal statute. Apex’s membership in SIPC protects customers if the firm fails financially.
If a firm fails, SIPC will typically ask a federal court to appoint a Trustee to liquidate the firm and protect its customers. After customers receive securities registered in their name, the trustee then distributes the remaining assets, known as the customer property, back to all customers on a pro-rata basis. The trustee and SIPC will often arrange to have customer accounts transferred to another brokerage firm. Customers then have the option of staying at the new firm or moving to another firm of their choosing. As a member of SIPC, funds are available to meet customer claims up to a ceiling of $500,000, including a maximum of $250,000 for cash claims.
SIPC does not cover certain types of investments such as commodity futures contracts, fixed annuity contracts and foreign currency, or fluctuations in the market value of securities. For more information regarding SIPC coverage, including a brochure, please contact SIPC at (202) 371-8300 or visit www.sipc.org.
In addition to SIPC coverage, Apex has purchased an additional insurance policy through a group of London Underwriters (with Lloyd’s of London Syndicates as the Lead Underwriter) to supplement SIPC protection. This additional insurance policy becomes available to customers in the event that SIPC limits are exhausted and provides protection for securities and cash up to an aggregate of $600 million. This additional insurance is provided to pay amounts in addition to those returned in SIPC liquidation.
This additional insurance policy is limited to a combined return to any customer from a Trustee, SIPC and London Underwriters of $150 million, including cash of up to $2.15 million. Similar to SIPC protection, this additional insurance does not protect against a loss in the market value of securities.
The Federal Deposit Insurance Corporation (FDIC) is a U.S. federal agency that protects you against the loss of your deposit accounts (such as checking and savings) if your FDIC-insured bank fails. For more information about FDIC coverage, please visit www.fdic.gov.
The basic FDIC insurance amount is $250,000 per account holder per insured bank and $250,000 for certain retirement accounts deposited at an insured bank. These amounts include principal and accrued interest. The FDIC does not insure money invested in stocks, bonds, mutual funds, life insurance policies, annuities or municipal securities, even if these investments were bought from an insured bank.
The FDIC insurance limit applies to each account holder at each FDIC-insured bank. Here is how the FDIC defines coverage for different account holders by some common “ownership” type.
Single Accounts and deposit accounts (e.g., checking, savings) owned by one person. FDIC insurance covers up to $250,000 per owner for all single accounts at each bank.
Joint Accounts are deposit accounts owned by two or more people. FDIC insurance covers up to $250,000 per owner for all joint accounts at each bank.
Certain Retirement Accounts are accounts such as IRAs and self-directed defined benefit contribution plans. FDIC insurance covers up to $250,000 for all deposits in such retirement accounts at each bank.
Acting as a deposit broker, Apex can place deposits at FDIC-insured banks on your behalf. In this case, the FDIC insurance available from the bank will passes through to you. The FDIC-insured deposits are available through your Apex brokerage account if the cash feature in effect in your account is the Bank Sweep Feature. With this feature, cash balances are automatically swept to deposits at FDIC-insured Banks. Keep in mind that all deposits you hold are added together to determine the total amount of FDIC insurance coverage for your deposits.
If you have additional questions or need help regarding your account with Apex, please contact your broker dealer.
This policy was last modified on March 15, 2018
What information do we collect?
We collect information from you when you register on our site, subscribe to our newsletter, blog, event, or fill out a form. When registering or starting an account application on our site, as appropriate, you may be asked to enter your name or email address or additional personal information required to complete a brokerage account application.
What do we use your information for?
Any of the information we collect from you may be used in one, several, or all of the following ways:
- To personalize your experience (your information helps us to better respond to your individual needs).
- To improve our website (we continually strive to improve our website offerings based on the information and feedback we receive from you).
- To track activity which may include the pages you view, your browser type, IP address, requested URL, referring URL, and timestamp information.
- To improve customer service (your information helps us to more effectively respond to your customer service requests and support needs).
- To send periodic emails and updates pertaining to a request or occasional company news, market research, account administrative notices, account status, trading and investment information, troubleshooting instructions, updates, promotions, related product or service information, etc. Note: If at any time you would like to unsubscribe from receiving future emails, we include unsubscribe instructions at the bottom of each email.
How do we protect your information?
We implement a variety of security measures to maintain the safety of your personal information when you submit a request or access your personal information. These security measures include: password protected directories and databases and encrypted transmissions of your information using secure socket layer technology (SSL). Please note, however, that no method of electronic storage or transmission over the Internet is 100% secure. Therefore, we cannot guarantee its absolute security and you should take measures to protect your identity, passwords, and verify the sites you visit along with the networks and devices you use.
Yes (Cookies are small files that a site or its service provider transfers to your computer’s hard drive through your web browser (if you allow) that enables the sites or service providers systems to recognize your browser and capture and remember certain information. We may use both session cookies (which expire once you close your browser) and persistent cookies (which stay on your computer until you delete them). Persistent cookies can be removed by following your browser help file directions. If you choose to disable cookies, some areas of the C2B Site may not work properly or at all.
Do we disclose any information to outside parties?
We do not sell, trade, or otherwise transfer to outside parties your personally identifiable information. This does not include trusted third parties who assist us in operating our website, conducting our business, or servicing you, so long as those parties agree to keep this information confidential. We may also release your information when we believe a release is appropriate to comply with the law, enforce our site policies, or protect ours or others’ rights, property, or safety. However, non-personally identifiable visitor information may be provided to other parties for marketing, advertising, or other uses.
Third party links
Occasionally, at our discretion, we may include or offer third party products or services on our website. These third party sites have separate and independent privacy policies. We therefore have no responsibility or liability for the content and activities of these linked sites. Nonetheless, we seek to protect the integrity of our site and welcome any feedback about these sites.
Oakland, CA 94612
Last updated March 18th, 2018
Description of Services
C2BROKER (“C2B”) is an investment technology platform that allows customers to AutoTrade Collective2 (“C2”) equity and options trading strategies using a commission-free model. The Service may include or make available certain content (the “Content”). Content may include, without limitation (1) account positions, balances, transactions, confirmations, and order history; (2) general news and information, educational materials, and information concerning the financial markets, securities, and other subjects; (3) market data such as quotations for securities transactions.
NOT a Broker-Dealer. No Recommendations or Investment Advice
All brokerage services are provided by Third Party Trade LLC, Member FINRA & SIPC. Third Party Trade LLC is a subsidiary of Third Party Technologies Inc. Check the background of Third Party Trade LLC on FINRA’s BrokerCheck.
Although C2BROKER provides access and functionality which can facilitate the communication of messages containing order information to brokerage services, C2BROKER is NOT a broker-dealer, brokerage, brokerage service, advisor, or financial planner, and is not providing any financial advice. C2BROKER and any of its employees, agents, principals, or representatives DO NOT: provide recommendations of any security, transaction, or order; provide investment advice; produce or provide research to any user regarding any security, transaction, or order.
C2BROKER allows you to connect your account to trading strategies, platforms, and other interfaces that may place or execute trades, but C2BROKER is not responsible for any actions you take with regard to your self-directed account. All order messages sent using the Service are self-directed by you to your account. You are solely responsible for any and all orders placed by you and all fees associated therewith, and understand that all orders are unsolicited and based on your own investment decisions.
You are solely responsible for evaluating the merits and risks associated with the use of any content provided through the Service (generated by our users, third party providers, or other third party web sites or services) before making any decisions based on such content. This Site holds data, information, and content for informational, educational, and noncommercial purposes only. Under no circumstances should any information or materials presented on this Site be used or construed as an offer to sell, or a solicitation of an offer to buy, any securities, financial instruments, investments or other services. You agree not to hold C2BROKER or its third party providers liable for any possible claim for damages arising from any decision you make based on the content or other information made available to you through the Service or third party provider websites. Past performance data should not be construed as indicative of future results.
You represent and warrant that you are an individual of legal age to form a binding contract and meet the requirements to open and fund an account. When you create an account with us, you guarantee that you are above the age of 18, and that the information you provide us is accurate, complete, and current at all times. Inaccurate, incomplete, or obsolete information may result in the immediate termination of your account on the Service.
You will only use the Services for your own internal, personal use, not on behalf of or for the benefit of any third party, and only in a manner that complies with all laws that apply to you. If your use of the Services is prohibited by applicable laws, then you are not authorized to use the Services. We cannot and will not be responsible for your using the Services in a way that breaks the law. You will not share your account or password with anyone, and you must protect the security of your account and your password. You are responsible for any activity associated with your account. You must notify us immediately upon becoming aware of any breach of security or unauthorized use of your account.
The Children’s Online Privacy Protection Act (“COPPA”)
C2BROKER takes privacy and suitability of its users very seriously.
The Children’s Online Privacy Protection Act (“COPPA”) requires that online service providers obtain parental consent before they knowingly collect personally identifiable information online from children who are under 13. We do not knowingly collect or solicit personally identifiable information from children under 13; if you are a child under 13, please do not attempt to register for the Services or send any personal information about yourself to us. If we learn we have collected personal information from a child under 13, we will delete that information as quickly as possible. If you believe that a child under 13 may have provided us personal information, please contact us at email@example.com
Content and Account Information from Third Party Providers
C2BROKER provides information such as, but not limited to, general news, market data, educational material and other information concerning financial markets and securities from third party providers.
C2BROKER does not prepare, edit, or endorse Third Party Content and has no control over, and assumes no responsibility for, the content, privacy policies, or practices of any third party web sites or services. We strongly advise you to read the terms and conditions and privacy policies of any third party web sites or services that you visit.
When using products or services made available by third party providers through the Service, you agree to comply with and be bound by the Terms of Service agreements of the third party providers. While C2BROKER may use third party providers to provide you access to your personal brokerage accounts to view corresponding account positions, balances, and order history, or facilitate communication of messages that contain order information to brokerages services, C2BROKER is NOT a broker-dealer, brokerage, brokerage service, advisor, or financial planner. YOU ACKNOWLEDGE AND AGREE THAT WHEN C2BROKER ACCESSES AND RETRIEVES ACCOUNT INFORMATION FROM THIRD PARTY PROVIDERS, C2BROKER IS ACTING AS YOUR AGENT, AND NOT AS THE AGENT OF OR ON BEHALF OF THE THIRD PARTY.
Neither C2BROKER nor its agents, licensors or suppliers makes any representations or warranties concerning any content contained in or accessed through the Services, and we will not be responsible or liable for the accuracy, copyright compliance, legality, or decency of material contained in or accessed through the Services. We (and our licensors and suppliers, including data providers, technology providers, and content providers) make no representations or warranties regarding suggestions or recommendations of services or products offered or purchased through the Services. Products and services purchased or offered (whether or not following such recommendations and suggestions) through the Services are provided “AS IS” and without any warranty of any kind from C2BROKER. THE SERVICES AND CONTENT ARE PROVIDED BY C2BROKER (AND ITS LICENSORS AND SUPPLIERS) ON AN “AS-IS” BASIS, WITHOUT WARRANTIES OF ANY KIND, EITHER EXPRESS OR IMPLIED, INCLUDING, WITHOUT LIMITATION, IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, NON-INFRINGEMENT, OR THAT USE OF THE SERVICES WILL BE UNINTERRUPTED OR ERROR-FREE. SOME STATES DO NOT ALLOW LIMITATIONS ON HOW LONG AN IMPLIED WARRANTY LASTS, SO THE ABOVE LIMITATIONS MAY NOT APPLY TO YOU.
Limitation of Liability.
TO THE FULLEST EXTENT ALLOWED BY APPLICABLE LAW, UNDER NO CIRCUMSTANCES AND UNDER NO LEGAL THEORY (INCLUDING, WITHOUT LIMITATION, TORT, CONTRACT, STRICT LIABILITY, OR OTHERWISE) SHALL C2BROKER (OR ITS LICENSORS OR SUPPLIERS) BE LIABLE TO YOU OR TO ANY OTHER PERSON FOR (A) ANY INDIRECT, SPECIAL, INCIDENTAL, OR CONSEQUENTIAL DAMAGES OF ANY KIND, INCLUDING DAMAGES FOR LOST PROFITS, LOSS OF GOODWILL, WORK STOPPAGE, ACCURACY OF RESULTS, OR COMPUTER FAILURE OR MALFUNCTION, OR (B) ANY AMOUNT, IN THE AGGREGATE, IN EXCESS OF THE GREATER OF (I) $100 OR (iI) THE AMOUNTS PAID BY YOU TO C2BROKER IN CONNECTION WITH THE SERVICES IN THE TWELVE (12) MONTH PERIOD PRECEDING THIS APPLICABLE CLAIM, OR (III) ANY MATTER BEYOND OUR REASONABLE CONTROL. SOME STATES DO NOT ALLOW THE EXCLUSION OR LIMITATION OF CERTAIN DAMAGES, SO THE ABOVE LIMITATION AND EXCLUSIONS MAY NOT APPLY TO YOU.
To the fullest extent allowed by applicable law, You agree to indemnify and hold C2BROKER, its affiliates, officers, agents, employees, and partners harmless from and against any and all claims, liabilities, damages (actual and consequential), losses and expenses (including attorneys’ fees) arising from or in any way related to any third party claims relating to (a) your use of the Services (including any actions taken by a third party using your account), and (b) your violation of these Terms. in the event of such a claim, suit, or action (“Claim”), we will attempt to provide notice of the Claim to the contact information we have for your account (provided that failure to deliver such notice shall not eliminate or reduce your indemnification obligations hereunder).
You may not assign, delegate or transfer these Terms or your rights or obligations hereunder, or your Services account, in any way (by operation of law or otherwise) without C2BROKER prior written consent. We may transfer, assign, or delegate these Terms and our rights and obligations without consent.
Governing Law & Arbitration.
These Terms are governed by and will be construed under the laws of the State of New York, without regard to the conflicts of laws provisions thereof. Any dispute arising from or relating to the subject matter of these Terms shall be finally settled in New York, New York, in English, in accordance with the Streamlined Arbitration Rules and Procedures of Judicial Arbitration and Mediation Services, Inc. (“JAMS”) then in effect, by one commercial arbitrator with substantial experience in resolving intellectual property and commercial contract disputes, who shall be selected from the appropriate list of JAMS arbitrators in accordance with such Rules. Judgment upon the award rendered by such arbitrator may be entered in any court of competent jurisdiction. Notwithstanding the foregoing obligation to arbitrate disputes, each party shall have the right to pursue injunctive or other equitable relief at any time, from any court of competent jurisdiction. For all purposes of this Agreement, the parties consent to exclusive jurisdiction and venue in the state or federal courts located in, respectively, New York, New York. or the Northern District of California. Any arbitration under these Terms will take place on an individual basis: class arbitrations and class actions are not permitted. YOU UNDERSTAND AND AGREE THAT BY ENTERING INTO THESE TERMS, YOU AND C2BROKER ARE EACH WAIVING THE RIGHT TO TRIAL BY JURY OR TO PARTICIPATE IN A CLASS ACTION.
We may terminate or suspend your account and bar access to the Service immediately, without prior notice or liability, under our sole discretion, for any reason whatsoever and without limitation, including but not limited to a breach of the Terms. If you wish to terminate your account, you may simply discontinue using the Service or contact Third Party Trade LLC at firstname.lastname@example.org to close out or otherwise gain access to your account. All provisions of the Terms which by their nature should survive termination shall survive termination, including, without limitation, ownership provisions, warranty disclaimers, indemnity and limitations of liability.
You will be responsible for paying, withholding, filing, and reporting all taxes, duties, and other governmental assessments associated with your activity in connection with the Services. The failure of either you or us to exercise, in any way, any right herein shall not be deemed a waiver of any further rights hereunder. If any provision of these Terms is found to be unenforceable or invalid, that provision will be limited or eliminated, to the minimum extent necessary, so that these Terms shall otherwise remain in full force and effect and enforceable. You and C2BROKER agree that these Terms are the complete and exclusive statement of the mutual understanding between you and C2BROKER, and that it supersedes and cancels all previous written and oral agreements, communications and other understandings relating to the subject matter of these Terms. You hereby acknowledge and agree that you are not an employee, agent, partner, or joint venture of C2BROKER, and you do not have any authority of any kind to bind C2BROKER in any respect whatsoever. You and C2BROKER agree there are no third party beneficiaries intended under these Terms.
The Service and its original content (excluding Content provided by users), features and functionality are and will remain the exclusive property of C2BROKER and its licensors. The Service is protected by copyright, trademark, and other laws of both the United States and foreign countries where permissible. Our trademarks, logos, and marks may not be used in connection with any product or service without the prior written consent of C2BROKER.
If you have any questions about these Terms, please contact us at email@example.com.