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Is Merrill Lynch FDIC insured

Updated: 9/18/2023
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13y ago

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No. Merrill Lynch is not a deposit taking banking. FDIC only insures deposits that are placed with registered banks that are approved by the Federal Reserve to accept customer deposits. Since ML invests in Stock Market instruments that change in value based on market movements, the money invested through Merrill Lynch is not FDIC insured.

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13y ago
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