Seeing many complaints about brokers (eToro, IBKR, etc.), how protected are retail investors really?

Hi everyone,
I’ve been reading a lot of posts on Reddit lately about platforms like eToro, Interactive Brokers, Trading212, etc., with people reporting things like:
- accounts being frozen or closed;
- slow or unresponsive customer service;
- difficulty withdrawing funds;
- limited explanations during “reviews”.
As a long-term retail investor, this honestly makes me uneasy. Many of us are investing years of savings, trusting these platforms to hold our assets while we build wealth over decades.
I’m trying to separate real systemic risk from isolated cases, compliance issues, and I’d really appreciate hearing from more experienced investors.
Some genuine questions I have:
What actual legal protections do retail investors have if a broker freezes or closes an account?
How safe are client assets if a platform fails or is hacked?
Are shares truly segregated and recoverable in practice?

- What practical steps do experienced investors take to reduce platform risk? (multiple brokers, record-keeping, etc.)

I’m not trying to bash any broker, just trying to understand how this works in the real world beyond marketing pages.

Would love to hear:
Personal experiences good or bad;
Insights from people who’ve dealt with compliance reviews;
Views from anyone with legal, regulatory, or professional investing background.

Let’s keep it constructive, I think this is something a lot of quiet investors worry about but don’t always ask.

Thanks in advance