Are the securites (stocks bonds) in my account safe if the broker it is held at goes bankrupt?

Question

All securities are in my name. What is the procedure to get them back?

Answer 1

If your broker goes bankrupt, the securities in your account will be safe.  The SIPC (Securities Investor Protection Corporation) will insure up to $500,000 of net net equity balance, including up to $100,000 in cash.  However, some brokerage firms like Firstrade provide "excess SIPC" coverage.  In fact, Firstrade actually provides unlimited account protection through CAPCO (Customer Asset Protection Corporation), a licensed New York insurer.