Can the account balance earn interest?？

The broker currently pays interest on the unencumbered balances of all accounts based on its internal funding rate reduction to bidders。

However, from April 1, the situation will change.。For example, from the beginning of April, customers with free cash balances below £10,000 will no longer receive interest on those balances; customers with balances of £10,000 or more (including the equivalent in foreign currency) will receive interest under the new system, with the amount of interest received depending on the account balance。

Graded payment of deposit interest

Accounts holding more than £100,000 or more (or the equivalent in foreign currency) will receive the best interest rates, and there is no cap or freeze period on the amount that can be deposited in the bank, and the funds in the account can be withdrawn or invested in the market at any time。

Interest rates at Saxo Markets will be calculated daily with reference to the GBP Overnight Average SONIA。The interest rate benchmark, calculated by the Bank of England, has largely replaced LIBOR。

Currently, Saxo is divided into classic, platinum and VIP accounts based on the cash balance of the account, with interest payments graded.。

Saxo bid rate received for classic accounts is -3.00%, Saxo bid rate received for free cash balances held in platinum accounts is -2.0%, while the bid rate for VIP accounts is -1.0%。

Saxo Bank has not explained why they made these changes or the thinking behind them, and it is not clear how it will comply with the FCA's TCF or fair treatment of customers.。