Hello,
New member here. Since interest rates on savings account are very low here in Switzerland (below 2%), does anyone recommend holding cash balances on their IBKR account, converting to another currency such as GBP or USD and earning interest? The balance has to be above USD10k or equivalent but the interest rates are much higher eg. 4.83% for USD and 4.733% for GBP. Is this a good idea or does the currency risk eliminate the extra interest earned?
Please see following link for IBKR interest rates:
www.interactivebrokers.com
Many thanks,
Ned
New member here. Since interest rates on savings account are very low here in Switzerland (below 2%), does anyone recommend holding cash balances on their IBKR account, converting to another currency such as GBP or USD and earning interest? The balance has to be above USD10k or equivalent but the interest rates are much higher eg. 4.83% for USD and 4.733% for GBP. Is this a good idea or does the currency risk eliminate the extra interest earned?
Please see following link for IBKR interest rates:
Interest Rates | Interactive Brokers LLC
With an Interactive Brokers account you'll earn market rate interest on your instantly available cash balances.
![www.interactivebrokers.com](/proxy.php?image=https%3A%2F%2Fwww.interactivebrokers.com%2Fimages%2Fweb%2Ffavicons%2Fhome-screen-icon-192x192.png&hash=b332a6dac2c5506166b206f7c27b6390&return_error=1)
Many thanks,
Ned