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When you hold uninvested cash in your brokerage account, this is money that’s not earning a return in the market. This can feel like a wasted opportunity, especially at a time when banks are paying some of the highest interest rates in over a decade.
Fortunately, some investment platforms offer features where your uninvested cash earns interest. The broker itself doesn’t pay interest. Instead, it puts idle cash from investors into an FDIC-insured bank account. This system, known as a cash sweep program, can allow you to still earn a decent interest rate while keeping your money available to invest. Ideally, a sweep program is convenient, doesn’t charge you a fee, and has simple account requirements. If you expect to hold uninvested cash, here are the best investment accounts worth considering.
Best Investment Platforms for Handling Uninvested Cash
