Interactive Brokers have increased their EUR deposit rates on the back of the ECB rate increase.
Their product is complex to say the least.
Their product is complex to say the least.
- 0% on the first 10,000 EUR.
- Gradual increase in the rate up to 100,000 EUR.
- For example, a balance of 50,000 earns 1.178% (2.356%/2) because you are half way to 100,000 but the 1.178% only applies to the balance from 10,000-50,000.
- Balances over 100,000 earn 2.356%.
- The rate applies to IBRK Pro accounts. There seems to be no fees for this product (other than trading fees).
- Protection is provided via 90% of the first 20k via the Irish Investor Protection Scheme.
- Their website also mentions protection via SIPC up to 250,000 USD or equivalent. Is this only for USD cash ????
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