@RLX @HuskyDogg Rest assured that we will announce the details publicly once we make use of QMMFs.
Interest rates are based on rates we receive from the banks and QMMFs we hold your cash with. These rates are based on the central banksā rates, like the Bank of Englandās base rate. At the time we are only making use of term deposits and normal deposits at major banks such as JP Morgan and Barclays, and thatās where currently the return is coming from.
Where we hold your money with a bank, clients of Trading 212 UK Ltd. are protected by the FSCS up to a limit of Ā£85,000. Clients of Trading 212 Markets Ltd. are protected by the ICF up to a limit of ā¬20,000 and are additionally insured up to ā¬1M by Lloydās of London. Learn more about how your money is protected on our website.
Where we hold your money with a QMMF, if Trading 212 fails, the FSCS or ICF will serve as a compensation fund of last resort. In the unlikely event that the QMMF fails to maintain their low-risk strategy, as with any investment, the protection will not be available. We carefully select all QMMFs to ensure that they are highly liquid, stable in value and maintain their highly regulated status.