Cryptocurrency Q&A
Is apex FDIC insured?
Is apex FDIC insured?
Maria
Sun Oct 06 2024
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5 answers
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I'm curious about the safety of my investments with Apex. Is Apex FDIC insured? I understand that FDIC insurance is a critical factor in ensuring the security of deposits held at financial institutions. Can you clarify whether Apex offers this protection to its customers, and if not, what other measures does Apex take to safeguard client funds?
5 answers
Martino
Mon Oct 07 2024
Apex offers a service where they sweep excess cash balances to a designated Program Bank for safekeeping. This ensures that your funds are securely stored and managed.
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Giulia
Mon Oct 07 2024
By utilizing Apex's services and having your funds swept to a Program Bank, you can rest assured that your deposits are protected by the FDIC's insurance program.
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ZenHarmony
Mon Oct 07 2024
Along with the excess cash balances, any non-Program deposits you may have at the same Program Bank are also covered by this arrangement. This means that your entire portfolio at the bank is protected.
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Martina
Mon Oct 07 2024
The Federal Deposit Insurance Corporation (FDIC) insures these deposits up to a standard maximum amount, as set forth in their rules and regulations.
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DigitalTreasureHunter
Mon Oct 07 2024
The FDIC is an independent agency of the United States government that protects depositors against the loss of their insured deposits if an FDIC-insured bank or savings association fails.
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