QUOTE(Toku @ Jan 28 2022, 04:28 PM)
Isn't a brokerage account with HK bank more secure? Is there a HK based IBKR account?
Hmm maybe you are new to IBKR. There is only one IBKR, you can open different account types like individual account, join account etc. The account is based in one location depending on where you open it. If you open it originally in Malaysia, then it's based in the US. If you transfer in from TradeStation Global, then it's based in the UK.
In any case, if you have an individual account with IBKR, you can buy securities from all over the world. So you can buy HK shares/bonds/ETFs etc. from your Malaysia IBKR account. You don't need to open "HK" IBKR account. You can't do that since you are not based in HK anyway, no HK address, no HK bank account, no stay permit/visa etc. (I presume you are not in HK.)
As for your first question. whether a broker is safe depends on a lot of factors. The execution of the broker, the profitability of the broker (margins), balance sheet, cash flows, business model, regulations, market share etc. Banks can fail in crisis, let alone brokers.
If the broker is listed, have a look at the financial statements to have a sense of the broker's financial conditions before you decide to open an account. Look for past history of incidents/litigations if available (even IBKR is not spared from them). That way, you can tell if one broker is a "safer" choice than the others.
So, it does mean that attaching to one bank makes the brokerage account safer. More often than not, banks provide such service to complement their business "ecosystem" and make money within their ecosystem. So they have high charges for trading securities than stand-alone brokers like IBKR.