Freetrade has many perks, but not all of them are as attractive as the ones offered by the premium version. This article will cover the costs involved in trading, the premium version’s premium features, and the interest earned on funds held in user accounts. There are also several things you need to consider before joining Freetrade. For starters, you need to decide what type of user you are and how much money you can invest with the Bit-iq app.
Costs of trading
While free trade increases the number of varieties available to consumers, it can also increase the costs of searching for a particular variety. For example, consumers may spend more time on research, test-driving various cars, reading magazines and talking to friends. Those costs are also interpreted. However, these costs may be minor compared to the benefits of increased choice. In addition, the cost of selection is more than just economic: it can be both psychological and social.
The costs of trading on Freetrade are minimal compared to other brokers. Freetrade charges only a small percentage of the value of each trade. However, there are non-trading related fees. These fees include various brokerage fees, a deposit fee, inactivity fee and account fees. Freetrade does not offer a free trading account, so be sure to calculate all costs before signing up. However, it is a good idea to research the fees associated with each investment before you invest.
Interest earned on funds held in user accounts
Interest earned on funds held in user accounts on Freetrade is calculated monthly and given out based on the average balance held in the users’ accounts. There are several ways to earn interest on your funds deposited with Freetrade. You can opt to make monthly deposits or subscribe to a monthly fee. In either case, you will be able to receive 3% interest each month. Depending on the amount of money deposited in your account, the company will either lend it out to other financial entities or give it back to you.
Interest is calculated on the cash balance on the 11th working day of every month. You will receive a payment for each day’s cash holdings. Freetrade pays interest on the cash balance held in your account. In other words, you will be able to get a profit on your cash holdings every month. Unlike a savings account, this type of account is not suitable for saving money and is only suitable for trading purposes.