FOREX.com raises APY on account balances
Retail Forex broker FOREX.com, part of StoneX, is raising the Annual Percentage Yield (APY) on account balances.
Balances between $10,000 – $500,000 will attract interest at 5% APY. Additional balances over $500,000 will generate interest at 1.5% APY.
Clients of FOREX.com can earn enhanced interest through March 31, 2023.
FOREX.com is part of StoneX Group Inc. (NASDAQ: SNEX), a publicly traded company, and meets the highest standards of corporate governance, financial reporting and disclosure.
For the quarter to end-September 2022, StoneX saw operating revenues derived from FX/CFD contracts increase $25.7 million, or 46%, to $81.4 million, compared to $55.7 million in the three months ended September 30, 2021, principally due to a 34% increase in FX/CFD contracts RPM as well as an 11% increase in FX/CFD contracts ADV.
Let’s recall that StoneX closed the acquisition of GAIN Capital, the former owner of FOREX.com and City Index, in the summer of 2020.