Fidelity Youth funds FDIC Insured?
Here’s a summary of the main problem reported by the user and the solutions discussed:
- Main Problem: The user, akane, inquired whether Fidelity accounts are FDIC insured, particularly in the context of using them as a daily spending option and for stock investment.
- Solution Provided: FidelityMarian clarified that all Fidelity brokerage accounts are covered by SIPC (Securities Investor Protection Corporation), which includes money market funds held in those accounts since they are considered securities.
- Additional Resource: A link to more information about SIPC coverage was provided for further reading.
Here’s the full thread
Hey!
Heard online that some are using it as a daily spender along with investing in stocks, is it FDIC insured?
Thanks!
Thanks for reaching out to us, @akane ! Happy to answer your question today.
All Fidelity brokerage accounts are covered by SIPC. This includes money market funds held in a brokerage account since they are considered securities.
You can learn more about SIPC here: https://www.fidelity.com/why-fidelity/safeguarding-your-accounts
Let us know if you have any additional questions!🟢