Spreadco paying 2% interest on deposits

Arbu

Active member
Jul 10, 2005
235
7
28
London
#1
Spreadco are now paying 2% interest on deposits up to £50,000 provided you do at least ten trades a month. That's quite attractive as the most I can get elsewhere is 1.25% so worth £375/year, although I would expect to lose money on the trades so would have to keep the stakes small. Does anywhere else pay interest?
 

Arbu

Active member
Jul 10, 2005
235
7
28
London
#2
Hmm, the ts and cs for this offer state:

"6.1. You being a Qualifying Applicant, 2% per annum, or any other amount of interest to be determined by SPREAD CO in its sole and absolute discretion. "

Requests as to why they are allowed to pay you a different amount if they feel like it are not getting any response. Doesn't look good.
 

Kaeso

Active member
Oct 4, 2015
861
91
38
#3
Spreadco are now paying 2% interest on deposits up to £50,000 provided you do at least ten trades a month. That's quite attractive as the most I can get elsewhere is 1.25% so worth £375/year, although I would expect to lose money on the trades so would have to keep the stakes small. Does anywhere else pay interest?
This actually looks like a good offer considering the crap interest you get on normal current accounts nowadays. You only need to do 10 trades per month to qualify and it applies up to 50K balance! I don't like their charting/trading platform much though so I wont bother.
 
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Arbu

Active member
Jul 10, 2005
235
7
28
London
#4
I got shortchanged on the interest last month. Had to contact them twice on live chat, then go through the statements for each day of last month to calculate the correct amount myself and email them twice before they finally corrected it.