interactive brokers, page-7

A few points to consider about Interactive Brokers:

It appears they are not registered with the ASX and you will probably be dealing with their US company - hence the reason that they don't issue Chess statements (as mentioned by someone);

The insurance mentioned by Maxwell Reid - Lloyd's insurance provides an aggregate cap of $150m therefore if Interactive brokers does go broke if the excess over SIPC coverage is in the hundreds of millions or billions of dollars Lloyd's insurance won't go far (bearing in mind interactive brokers appears to be global it is likely in the event of bankruptcy that creditors will be in the billions of dollars);

The SIPC coverage only applies to US brokers and does not apply to foreign subsidiaries. You need to be sure that you are dealing with the US parent company if you are seeking that sort of assurance;

If you are dealing with the US company the agreement provides in the event of a dispute you are required to follow US Arbitration procedures and agree to forego any rights to sue in the event of a dispute unless arbitration authorises it;

In the event of dispute which is not resolved by arbitration you would need to deal with the Connecticut legal system;

Interactive brokers have the right to lend your shares out - presumably anybody borrowing them will be seeking to short them and drive the share price of the company you are investing in down. Your voting rights may also be affected;

Given the nature of the arrangements there may be adverse tax implications.

Me being as conservative as I am when it comes to security of ownership (esp after Opes Prime, Lift Capital) - if I did consider using them I would seek legal advice on the agreement.

You should certainly establish who the company is you would be dealing with, and what jurisdiction they are registered in.