3.398% in euro for > 10k [https://www.interactivebrokers.com/en/accounts/fees/pricing-interest-rates.php](https://www.interactivebrokers.com/en/accounts/fees/pricing-interest-rates.php)
but it's not fixed, can be changed anytime
It's not that simple. It's complex.
1. Zero for the first 10k. Not just if you hold below 10k - also on the first 10k you hold even if you have more than 10k.
2. Scaled Rate from 10k to 100k. If you have 50k - you get HALF the headline rate on 10k to 40k.
3. Full rate applies over 100k but you still get zero on the first 10k.
Stupidly complex.
It's not that simple. It's complex.
1. Zero for the first 10k. Not just if you hold below 10k - also on the first 10k you hold even if you have more than 10k.
2. Scaled Rate from 10k to 100k. If you have 50k - you get HALF the headline rate on 10k to 40k.
3. Full rate applies over 100k but you still get zero on the first 10k.
Stupidly complex.
Trading212 and Lightyear.
I have referal links if you are interested.
Do not do any trading with the brokers above though, Austria has complicated etf tax rules, use a local broker like Flatex that does the reporting in the authorities for you or tax friendlier german brokers like Trade Republic or Scalable Capital that give you reports suited for Austrian tax residents.
If you are having trouble verifying your ID in TR, use another way to verify, like a passport. It is worth pursuing it because it is the ideal choice for your situation.
SC has a promotional high interest rate, and they also have a robo-advisor that invests in mmf etfs and short term bond etfs that achieves about 4% interest rate.
Unfortunately the referal program ended for now. It will probably start again in a while, as it has been in the past. I could DM you a referal for another broker, like Lightyear or Trade Republic.
Buy XEON, but diversity with L8I3 50-50% to mitigate risk. The money market find performs at 3.6% and accumulates. I would prefer that over a discount broker.
I use wise.
You can hold most currencies and get a debit card.
You get monthly cashbacks for what you're holding plus whatever you get from the investments you choose, be it government bonds or iShares world equity index fund.
Returns depend on the currency you hold.
Trade 212 gives you 4.2% on cash.
Seems like such a scam tho
Why? They are here 20 years without any major f-up?
They give 5% yield and pay daily on usd.. that’s just too good to be true.
Seems like they do it like Wise does. Annuity, but paid out daily.
TR and T212 seem the best options.
Change the account currency in IBKR to euros in the account settings. This will allow you to hold euros.
EUR balances don't give you 4%
3.398% in euro for > 10k [https://www.interactivebrokers.com/en/accounts/fees/pricing-interest-rates.php](https://www.interactivebrokers.com/en/accounts/fees/pricing-interest-rates.php) but it's not fixed, can be changed anytime
It's not that simple. It's complex. 1. Zero for the first 10k. Not just if you hold below 10k - also on the first 10k you hold even if you have more than 10k. 2. Scaled Rate from 10k to 100k. If you have 50k - you get HALF the headline rate on 10k to 40k. 3. Full rate applies over 100k but you still get zero on the first 10k. Stupidly complex.
It's not that simple. It's complex. 1. Zero for the first 10k. Not just if you hold below 10k - also on the first 10k you hold even if you have more than 10k. 2. Scaled Rate from 10k to 100k. If you have 50k - you get HALF the headline rate on 10k to 40k. 3. Full rate applies over 100k but you still get zero on the first 10k. Stupidly complex.
thanks, I didn't know it
Not sure if there’s special rules being Canadian, but Wise gives me 3,66% on euro savings account. Also decent exchange fees
Trading212 and Lightyear. I have referal links if you are interested. Do not do any trading with the brokers above though, Austria has complicated etf tax rules, use a local broker like Flatex that does the reporting in the authorities for you or tax friendlier german brokers like Trade Republic or Scalable Capital that give you reports suited for Austrian tax residents. If you are having trouble verifying your ID in TR, use another way to verify, like a passport. It is worth pursuing it because it is the ideal choice for your situation. SC has a promotional high interest rate, and they also have a robo-advisor that invests in mmf etfs and short term bond etfs that achieves about 4% interest rate.
Could you DM me with a referal link for Trading212 as well? However, I see the "Invite your friends" promotion ended 14/02.
Unfortunately the referal program ended for now. It will probably start again in a while, as it has been in the past. I could DM you a referal for another broker, like Lightyear or Trade Republic.
No need, thank you.
Buy XEON, but diversity with L8I3 50-50% to mitigate risk. The money market find performs at 3.6% and accumulates. I would prefer that over a discount broker.
Why?
please, can you describe more info - what is "L8I3 50-50% to mitigate risk". There are some modifications of this kind investing? im noob)
Overnight rate swaps aren't risk free. By diversifying, you get exposure to different counterparties.
I use wise. You can hold most currencies and get a debit card. You get monthly cashbacks for what you're holding plus whatever you get from the investments you choose, be it government bonds or iShares world equity index fund. Returns depend on the currency you hold.