Broker paying annual interest on balance | Forex Factory

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Broker paying annual interest on balance

  • #1
  • First Post: Mar 4, 2011 5:56am Mar 4, 2011 5:56am
Is there a regulated broker paying annual interest rate for unused balance of USD accounts?

Instaforex claims paying 13% but frankly I cannot trust.
  • #2
  • Mar 4, 2011 12:27pm Mar 4, 2011 12:27pm
that sounds very fishy...next thing you know the firm might be liqudated and there goes all your money...
  • #3
  • Mar 5, 2011 3:10pm Mar 5, 2011 3:10pm
I agree. An interest of 2% p.a. is reasonable. I am looking for a regulated broker who pays this.
  • #4
  • Mar 5, 2011 6:42pm Mar 5, 2011 6:42pm
Quoting etrade
Is there a regulated broker paying annual interest rate for unused balance of USD accounts?

Instaforex claims paying 13% but frankly I cannot trust.
How is this possible? The benchmark interest rate in Russia is apparently 8%.

This is obviously a ploy to get people to open accounts with them. I guess they are counting on the 95% figure again.
Nothing worth having is easy.
  • #5
  • Last Post: Mar 9, 2011 4:14am Mar 9, 2011 4:14am
Quoting etrade
Is there a regulated broker paying annual interest rate for unused balance of USD accounts?

Instaforex claims paying 13% but frankly I cannot trust.
That's well above market rates!

Apparently they also pay the interest on their "Islamic" accounts, but since interest is forbidden in Islam, their claim of Islamic accounts is bogus. Just like the rest of their crappy little empire.
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