Updated August 6, 2024
Security at Silo
Your Security is Our #1 Priority
In an age where financial transactions are increasingly conducted online, security is paramount. At Silo, we understand the importance of safeguarding your investments, and we prioritize robust measures to ensure the protection of your assets.
Protecting Your Deposits and Investments
Silo, through Interactive Brokers, offers our users up to $250,000 in FDIC insurance and $500,000 in SIPC insurance. But what does this mean for you?
The Federal Deposit Insurance Corporation (FDIC) safeguards your cash deposits up to $250,000 per depositor, per insured bank, for each account ownership category. This protection extends to cash holdings in your Silo account, ensuring that your funds are shielded against unforeseen circumstances.
Similarly, the Securities Investor Protection Corporation (SIPC) provides protection for securities, such as bonds, held by customers of failed brokerage firms. With up to $500,000 in coverage (including up to $250,000 for claims for cash), SIPC insurance offers an additional layer of security for your investments.
Security Regarding Your Account
Password protection is fundamental for your Silo account. We encourage our users to create strong, unique passwords and employ multi-factor authentication for added security. Additionally, Silo leverages biometric authentication, such as fingerprint or facial recognition, providing a seamless yet robust layer of defense against unauthorized access.
Your investment portfolio is your own, and we respect your privacy. Silo integrates a privacy screen feature that activates whenever the app is not in the main view on your phone. This ensures that your investment positions remain concealed from prying eyes, adding an extra layer of confidentiality and security.
We require the use of MFA not only during the initial account setup process, but also whenever banks are linked to your account, whenever transfers are made, and whenever accounts are logged into after a period of inactivity. This helps to prevent unauthorized access and protects your account from potential security threats.
Encryption and Secure Connections
Behind the scenes, Silo employs state-of-the-art technological security measures to safeguard your data and transactions. We utilize end-to-end encryption protocols when communicating with our servers, ensuring that your information remains encrypted throughout transmission and at rest. This prevents unauthorized interception and protects your sensitive data from prying eyes.
24/7 Support
Our dedicated support team is available 24 hours a day, 7 days a week, to assist you with any inquiries or issues you may encounter. Whether you have a question about your account, need assistance with a transaction, or simply want to learn more about bond investing, our support staff is here to provide prompt and knowledgeable assistance. Your satisfaction and peace of mind are our top priorities, and we're committed to ensuring that you have access to the support you need, whenever you need it.
Contact Us
support@silomarkets.com
