http://www.hotspotfx.com/openacct/faq/ 2,25% interest per month based on 500K$ paid every month that's a huge actualised rate for cash money. Let's stop trading and just put the money with them? Of course there is the bankrupcy risk but they are a full subsidiary of knight. Where is the trick?
Hughe? I get more in my bank account for EUR o/n money from the first cent onwards, and EUR rates are lower than USD. They are actually makeing money on those rates.
It says it is payed monthly, not that this is a monthly rate. 2.25% per month, 12 compounding-steps would result in a yield of about 34% p.a. Im sure they dont mean that
Ok should be that. A friend of mine gave me the url saying he get them on the phone and that it was monthly %. I told him impossible but he insisted ......
It is a per annum rate, and money market rate is 5.25% so you're losing money. You should find someone to pay about 5% at least. Don't be silly and think someone will pay you 34% per annum no risk LOL.