hello, I wanted to open an IB account as well (even if probably I will stick with SwissQuote), once created I wanted to confirm it with a deposit, but when I click on “make a deposit” I get this messsage:
Click there to review relevant interest rates for CHF and decide for yourself if they are worth paying for the duration and amount you seek to deposit!
Note no major currency pays any positive interest today and these interest rates are for cash balances only. Large cash positions are not insured and it doesn’t make sense to keep them at a broker uninvested.
Even if they would charge 1%/year (they do for anything above 100k), that would be 0.003% for a single day, so 2.80 for 100k. So it doesn’t really matter if you aren’t keeping a lot of cash.
ah ok so those interests only apply if you deposit money on the account, and keep it there instead of buying something with it??? if that is the case, it s much more clear now, couldn’t understand what they meant on the website
@lug10 On your picture, you are looking at the margin rates, which is the rate at which you borrow money from IB, which is something you won’t do (unless you actually do it obviously).
The negative interest you pay on your cash money with IB is only if you have more than 100k CHF. Because CHF has negative rate in general, they display the message. This is the right table you must look at. And yes, it is on money not invested only.
Then don’t. Why open it if you don’t use it? After 3 months you’ll start to pay 10chf/month if you have less than 100k usd deposited (etf or anything.)
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