Partner Programs

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Options: Interest Rates

Interest Rates

The information below does not apply to Forex accounts, and is only available for Equities Cash accounts.

All rates listed on this page are subject to change at any time, without prior notice.
Margin Interest: 7.45% APR
Margin account holders have the ability to borrow money at the margin interest rate above. Borrowing money on margin lets you leverage securities you already own to purchase additional securities. Accounts are not charged for the use of margin when borrowing money throughout the day. The margin interest rate is only charged when you borrow money to hold securities overnight. Therefore, if the market value of securities in your account exceeds your account value overnight, you are using margin.
Credit Interest: 0% APR
Clients are paid interest each month on any free cash that remains in their cash account.
Money Market Rates: see below
Customers can elect to have free cash swept into a separate money market account at the end of each day to earn a higher interest rate with Reich & Tang. If a specific fund is not selected when opening a new account, the sweep feature will be turned off on the account and free cash will sit dormant in the account. To switch between the available money market funds below, simply email [email protected]

  Reich & Tang Fund Name Symbol 1 Day Yield
  Daily Income Fund – Money Market Portfolio DRTXX 0.01%
  Daily Dollar International¹ DDIRZ 0.01%
Updated on 07/09/13


Margin and Credit Interest Calculations:
Interest charges and credits are calculated on the net daily debit or credit balance in your account. Interest incurred and interest earned will be posted monthly to your account and is calculated on a 360-day year.
The applicable interest period is from the first day of each month to the last. Any free credit balances will be offset against any debit in the margin account, and interest will be charged on the net debit balance, if any.

Account value: $10,000
Margin Interest rate: 7.95% APR
Transaction: $20,000 of XYZ purchased on 1/01 and sold on 1/15
  1. Take the amount of money borrowed and multiply it by the interest rate:
    10,000 * .0795 = 795
  2. Take the product and divide it by the number of days in the year:
    795 / 360 = 2.21
  3. Multiply this result by the number of days XYZ was held on margin:
    2.21 * 15 = 33.15
It would cost $33.15 to borrow $10,000 for 15 days.

1. These funds are only available to residents of the state listed in the fund name.


Money Market Sweep Program:

For customers with balances in a bank deposit account as part of the FDIC Sweep Program or shares of a money market mutual fund in which you have a beneficial interest, those balances or shares may be liquidated on your order and the proceeds returned to your account or remitted to you in accordance with the applicable prospectus and/or Terms and Conditions of the program.

For customers participating in the FDIC Sweep Program, the FDIC Sweep Program allows your cash balance to be eligible for insurance protection through the FDIC up to the maximum applicable insurance limits. Customers may obtain information about FDIC, by contacting the FDIC at 1-877-275-3342, 1-800-925-4618 (TDD) or by visiting www.fdic.gov. Deposit Account balances in the FDIC Sweep Program are not protected by SIPC or any other excess coverage by Apex Clearing Corporation. Deposit Account balances are protected as established by current applicable laws regulated by the FDIC.

Customers may obtain information about SIPC, including the SIPC brochure, by contacting SIPC at 202-371-8300 or by visiting www.SIPC.org."