The thing with the neobrokers...

Neobrokers’ advertising is misleading. As soon as you move the money into a money market fund in the background, the assets in the clearing account are no longer legally considered an insured bank deposit, but rather as an investment/special fund. Like the normal ETF, this is separate from the balance sheets of the custodian bank, so it protects against the bankruptcy of this very bank. Since the money in the fund itself is loaned to major banks, companies, etc. in order to achieve the return/interest