Insured Bank Deposit Sweep Program IBKR Pro Only1

A

Alver

Hello,

I received an offer from IBKR to sign up to Insured Bank Deposit Sweep Programm.
i read the info and googled but could not find the fees for that. Can someone help to find this info or advise what are the fees for activating this service.
 
Alver said:
Hello,

I received an offer from IBKR to sign up to Insured Bank Deposit Sweep Programm.
i read the info and googled but could not find the fees for that. Can someone help to find this info or advise what are the fees for activating this service.
More...

Do not we have anyone from IBKR here to answer this, please?
 
Alver said:
Thanks. Interesting - why would they do it for free?
More...
Because the banks pay them?
Bing Chat said:
Yes, banks may pay brokers for swept funds. According to the SEC, "Broker-dealers may choose banks based on the amount of money the banks will pay the brokerage firms for swept funds, the banks’ affiliation with the brokerage firms, or some other business relationship between the banks and the brokerage firms"1. This means that brokers may receive compensation from banks for participating in Insured Bank Deposit Sweep Programs.
More...
 
You must log in or register to reply here.
Back
Top