Getting risk free interest at a firm that doesn't sell futures

Discussion in 'Retail Brokers' started by Sky123987, Oct 23, 2007.

  1. I see that you can get interest at a firm that sells both stocks and futures "risk free" by longing the stock and selling the futures. This can be done in IB.

    I'm also considering joining Genesis Securities, only problem is that genesis securities pays a horrible interest rate, and because they don't sell Single stock futures you can't do the single stock future trick like you can do @ IB. Are there any tricks around this??

    Thanks in advance
  2. Daal


    ES contracts and spy maybe,ask jimrockford
    buying ETF BIL can work if your a US tax payer,maybe gold futures and GLD
  3. What do you consider a "horrible interest rate"?

    How much capital are you gonna have in the account that you want to get interest on overnight?
  4. Yeah I've looked at the ETF treasury bills... I like your idea
  5. You can look into Single Stock Futures to help get a more competitive rate for your idle cash.
    If you do an Exchange for Physical (Buying stock and selling SSF's against it) you can lock in a decent rate. You should look at IB platform for SSF and ETF"s and see what rates are available.