Swissquote has announced the reintroduction of interest on client trading accounts.
Deposits in Swiss francs, euros and US dollars will earn interest of up to 0.50% from May 1, 2023. The interest rate is directly linked to the client's account balance.
The interest rates are available to all Swissquote clients and for any deposit amount. There are no restrictions and no withdrawal fees, according to Swissquote's official website.
The amount of the interest rate on trading accounts in local currency:
- 0.10% on deposits up to CHF 200,000
- 0.25% on deposits between CHF 200,000 and CHF 500,000
- 0.50% on deposits over CHF 500,000
Interest rate on foreign currency trading accounts
- 0.10% on deposits up to EUR 200,000 and 0.20% on deposits up to USD 200,000
- 0.20% on deposits between EUR 200,000 and EUR 500,000 and 0.30% on deposits between USD 200,000 and USD 500,000
- 0.30% for deposits over EUR 500,000 and 0.40% for deposits over USD 500,000.
The company reminds its clients that no service fees are charged on trading accounts.
Broker Swissquote was founded in 1996 and is primarily aimed at major investors. The company is licensed by the Swiss Financial Market Supervisory Authority (FINMA), which guarantees the protection of client and investor funds and interests in the event of disputes or conflicts.
Swissquote recently published a financial report in which it revealed results for FY 2022.
