Does the idea of your money sitting in a bank account and slowly but surely losing value due to inflation scare you too? On the other hand, investing in stocks or other assets offered on the stock exchange can be a big commitment and, given the volatility of financial markets, carries a certain amount of risk. However, many people are unaware that this dilemma can be easily solved by a new form of financial appreciation from InvestingFox, which combines the positive aspects of both approaches—interest on free funds. Let’s take a closer look at this broker and find out if and how it benefits investors.
Your Interest Rate Options
Interest rates on regular bank and savings accounts are currently unsatisfactorily low, which means that money lies unused and does not earn much. That is why many people have started to grow their finances in trading accounts, where the interest rates are higher and money earns interest without the need for a long-term commitment.
If you have opened a trading account with InvestingFox and have not invested all of your deposited money in specific assets, you can earn unlimited interest on your free funds. No matter how much money you have in your account, the interest rate remains the same for everyone. At the same time, if you want to withdraw this money or invest it further, you can do so immediately and without any penalties or loss of interest. This approach has another advantage: you have full control over your money and can use it according to your needs, whether for short-term investments or unexpected expenses, without having to worry that the interest on your funds will stop generating returns.
The annual percentage yield (APY) at InvestingFox varies depending on the currency in which the funds are deposited in the account. For example:
- EUR: The annual percentage yield is 3% APY.
- USD: The annual percentage yield is 4% APY.
- CZK: The annual percentage yield is also 3% APY.
Depending on the interest rate, our money appreciates on a daily basis and interest is regularly credited to the balance.
Example of Return
Imagine that, as a client, you deposit CZK 100,000 into your InvestingFox account. At the current interest rate of 3% APY, your annual return will be CZK 3,000. If the balance remained in the account longer and interest continued to accrue, the return would grow each year thanks to compound interest.
If you decided to have an account in USD, at a rate of 4%, you could even achieve a return of USD 4,000 on USD 100,000 per year. In addition, these funds are available at any time, so the client does not have to wait for a fixed term as with traditional term deposits.
InvestingFox Fees
It should be noted that this broker offers more than 1,000 trading instruments, including physical stocks, forex, indices, commodities, and CFDs. The account can be held in CZK, EUR, USD, or HUF. The fees can be described as average. The spread ranges from 0.5 points (pips) for EUR/USD.
We must also point out the inactivity fee of EUR 29 per month, which is charged after 3 months of inactivity on the account. For trading, we can use the world-renowned and popular MetaTrader 5 trading platform, which offers web, desktop, and mobile versions of the application. A detailed review, pros and cons, overview of fees, and much more can be found here: https://stock2day.com/investicni-platformy-recenze-brokeru/investingfox/.
More About InvestingFox
InvestingFox was founded in Slovakia in 2008. It is operated by the well-known trading company CAPITAL MARKETS o.c.p. a.s. Over its 16 years of operation on the financial markets, this broker has earned a reputation as one of the most promising local brokers, offering high-quality security and a constantly expanding range of financial instruments.
InvestingFox was established in accordance with European Union legislation. Since 2008, it has been a member of the Association of Securities Traders, as well as a member of the American Chamber of Commerce, and is fully regulated by the NBS and CNB. Client funds are held in separate accounts with Tatra banka, a.s., Československá obchodní banka, a.s. and Stripe Technology Europe. InvestingFox therefore appears to be an attractive option for anyone who does not want their free funds to lie idle: this online broker is backed by a trustworthy company and meets investors’ requirements for transparent conditions and a regulated environment, which it combines with flexibility and diversity of offerings.
