Does Edward Jones Offer Crypto?
Currently, you cannot buy cryptocurrencies like Ethereum (ETH), Bitcoin (BTC), Bitcoin Cash (BCH), Litecoin (LTC), or
others through Edward Jones. Instead, consider these options:
a
SIPC insured and FINRA/SEC regulated $0 commission broker called Robinhood
that does offer cryptocurrencies trading (learn more).
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Is Edward Jones FDIC and SIPC Insured Takeaways
• Edwards Jones has both FDIC and SIPC insurance policies.
• An excess SIPC policy is also available.
• Additional FDIC insurance can be accessed through a sweep program set up by Edward Jones.
Overview of Protections for Edward Jones Customers
Several layers of protection are available for investors at Edward Jones. These guarantees include policies through FDIC, SIPC, and Underwriters at Lloyd's. For the full scoop, keep reading.
Edward Jones FDIC Insurance
Although Edward Jones is not a bank and does not offer FDIC insurance, it does have an FDIC-sweep program that moves uninvested cash from its customers’ investing accounts into program banks where said cash balances are insured by the U.S. government. While idle cash is at these banks, said cash balances are protected by the FDIC up to program limits. Generally, this is $250,000 for individual accounts and $500,000 for joint accounts, per bank. Pre-existing deposits at the program banks will decrease these levels. Because Edward Jones sweeps uninvested cash into multiple banks, it’s possible to receive up to $5 million in FDIC protection ($10 million for joint accounts).
Edward Jones partners with a lot of program banks to provide its FDIC sweep, so it’s important to keep track of what other bank deposits you have and where your FDIC sweep is going. It’s possible to remove a bank from the list of possibilities. Simply call your financial advisor to request this. Here are some of the program banks (there are many more):
Citibank
Discover Bank
Wells Fargo Bank
PNC Bank
Chase Bank
Edward Jones has plans to offer checking and savings account in partnership with Citibank. These accounts will be covered by FDIC insurance exclusively through Citi.
Find a Financial Advisor
If you are looking for a professional money management service in your area, you can
find a Financial Advisor on the Wiser Advisor
(or read
Wiser Advisor review).
Visit Wiser Advisor
Edward Jones SIPC Insurance
Securities in Edward Jones accounts aren’t moved to program banks. Instead, they receive SIPC protection at Edward Jones. Up to $500,000 per separate capacity is available for securities (but not insurance or annuities). A separate capacity is basically an account category, such as individual, joint, or IRA. Thus, it’s possible to triple or quadruple the amount of SIPC insurance available at Edward Jones by opening multiple account types.
Cash in investing accounts at Edward Jones that isn’t moved to program banks will be protected by SIPC up to $250,000 per separate capacity.
Edward Jones is listed in SIPC’s membership registry as “Edward D. Jones & Co., L.P.”
Edward Jones Review
Read detailed review of Edward Jones »
Underwriters at Lloyd's
Some lucky folks out there have so much wealth that regular SIPC insurance just isn’t enough. For these clients, Edward Jones has an excess SIPC policy through Underwriters at Lloyd's, a London-based insurer. This policy is valid for burglary, misplacement, theft, destruction, embezzlement, and abstraction. The maximum payout across all client accounts from this auxiliary policy is $900 million. Edward Jones has over $1.7 trillion in assets under management, so it’s possible that some customers’ securities could be uninsured.
Updated on 2/24/2025.
Chad Morris is a financial writer with more than 20 years experience
as both an English teacher and an avid trader. When he isn’t writing
expert content for Brokerage-Review.com, Chad can usually be found
managing his portfolio or building a new home computer.
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