which futures brokers offer sweep feature to earn higher interest on unused cash?

[mgarc]

hi,

would like to find out which futures brokers out there offer the feature of sweeping unused cash balances into a higher interest yielding account at the end of each day.

i've read that ib offers this. any other firms out there?

thanks,
mgarc

 

[Catoosa]

MB Trading sweeps to an interest earning account and unlimited check writing on the account.

 

[DarthSidious]

Quote from mgarc:
i've read that ib offers this. any other firms out there?

How do you do this? My excess cash in IB is not earning a single cent in interest for many moons now

 

[mgarc]

thanks catoosa. i wonder if any of the bigger firms offer this.

darthsidious, i don't clear through ib. i just read that in one of the older forums. why don't you ask them.

 

[GTS]

MBTrading's interest rates are nothing to write home about.

They offer Scudder money market options, the default sweep is earning a whopping 0.07%!

http://www.mbtrading.com/stocksInterestRates.aspx

I know rates everywhere are low but I can do a lot better with money parked elsewhere.