Great, thanks for clarifying.
In that case, looking at this question from the FAQ. Is this just there for info? Are you saying the below doesn’t impact the interest rate a customer receives? (i.e. the customer always gets the advertised rate, obviously the advertised rate is subject to change)
Can QMMFs go down in value?
We use a mix of different products such as time deposits and current accounts at major banks like JPMorgan and Barclays, and qualifying money market funds.
Money at banks is held separately from our own funds in separate client money bank accounts.
QMMFs are money market funds required to maintain a low-risk strategy by investing in financial instruments such as government bonds. Due to the high regulatory scrutiny, high liquidity, and stability of value, they are considered to be cash equivalents. They are typically used by pension funds to hold large amounts of money in a safe way, with over €1 trillion being held in QMMFs in Europe. Just as with any other investments we hold, your money in QMMFs is kept strictly separate from the assets of Trading 212. A QMMF can lose a part of its value, for example, it can drop in value by 1%, however, we carefully select all QMMFs to ensure that they maintain a low-risk strategy.