Is it possible to benefit from lower rates on Euro to buy US stocks on margin?

Euro has 1.5% margin interest, as per Interactivebrokers but 2.66% for USD.

Is it possible to utilize this fact to purchase US stocks with margin using Euro and benefit from the lower interest rate? Will it be beneficial or there are other hidden costs that will make it irrelevant?

Even better rate than Euro is Japanese Yen

 

If you want to play interest-rate differentials as an overlay to your stock trading, you can use CME € or ¥ futures.

 

Could you please give an example?

 

Well, people in Eastern Europe tried to do this with their mortgages by borrowing Swiss franc... It didn't end well.

There are lots of risks that you will be running in this scenario. Most important of those is your FX risk, rather than anything to do with interest rate differentials.

 

It's easier to buy currency if you want to speculate on interest rate differentials. If you hold US against JPY by buying a CME future, you get positive interest carry from thin air.

 

You don't get positive carry from thin air. You get positive carry for taking FX risk.