What returns will I earn from the Program?

Interest income is interest earned or paid to your account, for example from corporate bonds, municipal bonds and unit trusts, for the year.

Interest that you receive may either be taxable or non-taxable (tax-exempt) income. Taxable interest includes interest received from bank accounts and tax-exempt money market income. Taxable amounts received from money market funds are reported as dividends…

You will earn interest at IBKR's published rates based on your total settled cash balances, regardless of where your cash is held.  

Interest on Insured Bank Deposit Sweep Program balances will accrue daily from the day funds are deposited into a program bank through the business day preceding the date of withdrawal from that bank. Interest will be credited monthly. The specific program bank assigned to your account does not impact the interest rate you receive…

Overview

The IBHK Money Market Sweep Program automatically invests your idle USD cash into professionally managed money market funds, allowing you to earn competitive returns while keeping your cash fully available for trading. Each business day, 90% of your free USD cash balance above USD 100,000 is swept into Money Market Funds. Your first $100,000 always remains as cash with IBHK, and you own the fund shares directly, meaning that all returns belong entirely to you…

IBHK does not charge clients a separate fee to participate in the Money Market Sweep Program. However, the funds offered under the Program carry an expense ratio that is deducted from fund distributions before they are passed through to you. A portion of this expense ratio is received by IBHK as a distribution fee paid by the fund manager. Full details of the applicable fees for each fund are available in the fund prospectus, accessible to eligible clients through the Client Portal…