Hello, I was looking at rates for interest accounts and CDs. It seems like Goldman Sachs' Marcus has good rates and low minimum cash requirements on both: https://www.bankrate.com/banking/savings/rates/ I was thinking you could use that to park trading money until you had a stock you wanted to buy. You could also buy a 1-year CD and get 2%. I'm not sure what the customer experience is like, so I was seeing if anybody around here has experience with Marcus. Investment banks got in trouble for using client savings money for speculative investing. But these are FDIC insured, so I think they are ok.
I rather park money at IB, buy UST bills 1 or 2 years out and then buy the stock when I find it. No need to wire cash around and lose valuable time
Thanks. I like that Marcus accounts pay a good rate and don't have a large minimum amount requirement. They seem like a best of breed in that regard.