Cash sweep programs offer a way to earn interest on your idle money as you wait to invest, and your cash is typically insured by the Federal Deposit Insurance Corporation (FDIC). But brokers pay different rates on uninvested cash and, depending on the number of partner banks, different levels of FDIC insurance.
Here are the best brokerage account interest rates of 2024. Rates are accurate as of February 14, 2024.
Best broker cash sweep rates on uninvested cash
- Robinhood
- eToro
- Moomoo
- Fidelity Investments
- Webull
- Interactive Brokers
- Wealthfront
- Betterment
- Public
- Charles Schwab
Robinhood
Robinhood
4.2
★★★★★
Finder score
Robinhood automatically sweeps uninvested brokerage cash into its program banks, where it's eligible for FDIC insurance up to $2.25 million. Earn a 5.25% APY with Robinhood Gold through February 29, 2024, or 1.5% APY without.
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Pros
- User-friendly app
- Fractional shares
- IRA with 3% match for Robinhood Gold, 1% without
Cons
- Highest APY requires a Gold membership for $5 per month
- No robo-advisor
- Limited tradable assets
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Available asset types Stocks, Options, ETFs, Cryptocurrency Annual fee 0% Minimum deposit $0 Signup bonus Get a free stock when you successfully sign up and link your bank account. Cash sweep APY 1.5%, or 5.25% with Robinhood Gold
| Stock trade fee | $0 |
|---|---|
| Minimum deposit | $0 |
| Cash sweep APY | 1.5%, or 5.25% with Robinhood Gold |
| Signup bonus | Get a free stock when you successfully sign up and link your bank account. |
eToro
eToro
4.2
★★★★★
Finder score
Customers with an eToro options account can earn 4.9% in interest on uninvested cash, with monthly payouts, no withdrawal limitations and up to $5 million in FDIC insurance. An operational fee of $2 per month applies to each account enrolled in the program, but eToro waives the fee for clients with a total eToro portfolio value of $5,000 or more.
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Pros
- User-friendly platform
- Social trading features
- Access 20 cryptocurrencies
Cons
- Operational fee of $2 per month (waived if portfolio value is $5,000 or more)
- Interest rate on uninvested cash only available with an options account
- eToro is unavailable in HI, MN, NV and NY
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Available asset types Stocks, Options, ETFs, Cryptocurrency Annual fee 0% Minimum deposit $0 Signup bonus FINDER EXCLUSIVE: Get a guaranteed $15 bonus when you sign up and deposit $100 Cash sweep APY 4.9% Cash sweep insured FDIC Cash sweep insurance amount $5 million
| Stock trade fee | $0 |
|---|---|
| Minimum deposit | $0 |
| Cash sweep APY | 4.9% |
| Signup bonus | FINDER EXCLUSIVE: Get a guaranteed $15 bonus when you sign up and deposit $100 |
Moomoo
Moomoo
4.7
★★★★★
Finder score
Existing customers can earn a 5.1% APY on uninvested cash, with up to $1 million in FDIC insurance at partner banks. New, qualified customers can earn an extra 3% APY in addition to the 5.1% base APY for three months for a total of 8.1% APY.
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Pros
- Interest accrued daily and paid monthly
- Advanced trading tools
- Paper trading
Cons
- Existing users must refer a friend to depost $100+ or deposit $500 themselves to access the higher rate, or they earn 0.03% APY
- No robo-advisor
- No fractional shares
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Available asset types Stocks, Options, ETFs Minimum deposit $0 Signup bonus Get 5 or 15 free stocks when you open and fund an account with $100 or $1,000 Cash sweep APY 5.10% Cash sweep insured FDIC Cash sweep insurance amount $500,000
| Stock trade fee | $0 |
|---|---|
| Minimum deposit | $0 |
| Cash sweep APY | 5.10% |
| Signup bonus | Get 5 or 15 free stocks when you open and fund an account with $100 or $1,000 |
Fidelity Investments
Fidelity Investments
4.6
★★★★★
Finder score
Fidelity offers two ways to earn on uninvested cash. Choose an automatic sweep into Fidelity's core money market mutual fund, the Fidelity Government Money Market Fund (SPAXX), or an FDIC bank program. Earn a 4.98% yield with SPAXX or 2.72% APY with the FDIC program.
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Pros
- Two options to earn on uninvested cash
- Numerous partner banks
- Fractional shares
Cons
- Limited research tools on mobile app
- Laggy desktop trading platform
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Available asset types Stocks, Bonds, Options, Mutual funds, ETFs, Cryptocurrency, Gold/Commodities, CDs, Treasury Bills Annual fee 0% Minimum deposit $0 Signup bonus Get $100 when you open and fund an account with $50 and use code Fidelity100 Cash sweep APY 2.72% Cash sweep insured FDIC Cash sweep insurance amount $5 million
| Stock trade fee | $0 |
|---|---|
| Minimum deposit | $0 |
| Cash sweep APY | 2.72% |
| Signup bonus | Get $100 when you open and fund an account with $50 and use code Fidelity100 |
Webull
Webull
4.6
★★★★★
Finder score
Earn 5% APY on uninvested cash with Webull's high-yield cash management account. Receive FDIC insurance up to $1 million in total across Webull's five partner banks.
-
Pros
- Advanced trading tools
- High APY, with interest accrued daily
- Robo-advisor
Cons
- $2.99 per month for Level 2 data access
- 0.20% annual advisory fee for Webull's robo-advisor
- No live chat feature
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Available asset types Stocks, Options, ETFs, Cryptocurrency Annual fee 0% Minimum deposit $0 Signup bonus Get up to 70 free fractional shares when you open an account and make a deposit. T&Cs apply. Cash sweep APY 5% Cash sweep insurance amount N/A
| Stock trade fee | $0 |
|---|---|
| Minimum deposit | $0 |
| Cash sweep APY | 5% |
| Signup bonus | Get up to 70 free fractional shares when you open an account and make a deposit. T&Cs apply. |
Interactive Brokers (IBKR)
Interactive Brokers
4.3
★★★★★
Finder score
IBKR Pro customers can earn an interest rate of 4.83% on uninvested cash, while IBKR Lite customers can earn an interest rate of 3.83%. You earn no interest on the first $10,000 of cash, and only accounts with a net asset value of $100,000 or more are paid interest at the full rate. Only IBKR Pro customers are eligible for IBKR's Insured Bank Deposit Sweep Program, which offers up to $2.5 million of FDIC insurance.
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Pros
- $2.99 per month for Level 2 data access
- 0.20% annual advisory fee for Webull's robo-advisor
- No live chat feature
Cons
- Only IBKR Pro customers can access IBKR's FDIC-insured cash sweep program
- No interest paid on first $10,000
- Restrictions on full interest payout
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Available asset types Stocks, Bonds, Options, Mutual funds, ETFs, Cryptocurrency, Futures, Forex, Treasury Bills Annual fee 0% Minimum deposit $0 Signup bonus N/A Cash sweep APY 3.83% Lite
4.83% ProCash sweep insured FDIC Cash sweep insurance amount $250,000
| Stock trade fee | $0 |
|---|---|
| Minimum deposit | $0 |
| Cash sweep APY | 3.83% Lite 4.83% Pro |
| Signup bonus | N/A |
Wealthfront
Wealthfront
4
★★★★★
Finder score
Earn a 5% APY on your uninvested cash, with no minimum or maximum account balance requirements and up to $8 million in FDIC insurance.
-
Pros
- High APY on uninvested cash
- Numerous account types
- Up to $8 million in FDIC insurance
Cons
- $500 minimum deposit
- 0.25% annual fee
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Retirement account types Roth, Traditional, SEP, Rollover Available asset types Stocks, ETFs Annual fee 0.25% Minimum deposit $500 Signup bonus Get a $50 bonus when you fund your first taxable Automated Investing Account. Cash sweep APY 5%
| Stock trade fee | $0 |
|---|---|
| Minimum deposit | $500 |
| Cash sweep APY | 5% |
| Signup bonus | Get a $50 bonus when you fund your first taxable Automated Investing Account. |
Betterment
Betterment
4.2
★★★★★
Finder score
Betterment's high-yield cash account offers a 4.75% APY, with up to $2 million in FDIC insurance through its program of partner banks.
-
Pros
- High APY on uninvested cash
- Automatic sweeps
Cons
- No individual stock trading
- $100,000 minimum balance to access a human advisor
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Available asset types ETFs, Cryptocurrency Annual fee 0.25% on balances up to $99,999
0.4% on balances of $100,000+Minimum deposit $10 Signup bonus N/A Cash sweep APY 4.75% Cash sweep insured FDIC Cash sweep insurance amount $2 million
| Stock trade fee | $0 |
|---|---|
| Minimum deposit | $10 |
| Cash sweep APY | 4.75% |
| Signup bonus | N/A |
Public
Public.com
4.3
★★★★★
Finder score
Open a Public high-yield cash account and earn an APY of 5.1% on your cash. Public partners with 20 banks to offer FDIC insurance up to $5 million.
-
Pros
- High APY on uninvested cash
- High FDIC insurance
- Diverse lineup of tradable assets
Cons
- Must manually transfer money to cash account
- $8 monthly fee to access advanced data and analyst research reports
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Available asset types Stocks, ETFs, Cryptocurrency, Art, Treasury Bills, Collectibles Annual fee 0% Minimum deposit $0 Signup bonus N/A Cash sweep APY 5.1% Cash sweep insured FDIC Cash sweep insurance amount $5 million or $250,000 per program bank
| Stock trade fee | $0 |
|---|---|
| Minimum deposit | $0 |
| Cash sweep APY | 5.1% |
| Signup bonus | N/A |
Charles Schwab
Charles Schwab
4.2
★★★★★
Finder score
Earn a 0.45% APY on the uninvested cash in your Schwab brokerage and retirement accounts and access your money at any time. Funds are automatically swept into one or more FDIC-insured banks.
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Pros
- Automatic sweeps
- Fractional shares
- Robust research tools
Cons
- Relatively low APY on uninvested cash
- No crypto trading
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Available asset types Stocks, Bonds, Options, Mutual funds, ETFs, Futures, Treasury Bills Annual fee 0% Minimum deposit $0 Signup bonus Get $101 when you open and fund an account with a minimum of $50 Cash sweep APY 0.45% Cash sweep insured FDIC
| Stock trade fee | $0 |
|---|---|
| Minimum deposit | $0 |
| Cash sweep APY | 0.45% |
| Signup bonus | Get $101 when you open and fund an account with a minimum of $50 |
Methodology: How we choose the best broker cash sweep rates on uninvested cash
Finder’s investments experts review 17 brokers available on the market to find the brokers offering the most competitive cash sweep programs. We consider interest rates on uninvested cash and available FDIC insurance.
We update our best picks as products change, disappear or emerge in the market. We also regularly review and revise our selections to ensure our best provider lists reflect the most competitive available.
Paid non-client promotion. Finder does not invest money with providers on this page. If a brand is a referral partner, we're paid when you click or tap through to, open an account with or provide your contact information to the provider. Partnerships are not a recommendation for you to invest with any one company. Learn more about how we make money.
Finder is not an adviser or brokerage service. Information on this page is for educational purposes only and not a recommendation to invest with any one company, trade specific stocks or fund specific investments. All editorial opinions are our own.
What is uninvested cash, and how does it work?
You guessed it — uninvested cash is the total amount of uninvested money in your brokerage account. Uninvested cash, also known as brokerage cash, can include things like instant deposits, unsettled funds and dividend payments. While most brokers tell you how much uninvested cash you have, you can calculate your uninvested cash by taking the difference between your portfolio value and the value of your investments.
What to look for in cash sweep programs
A cash sweep program is a program some brokers offer that is designed to hold cash balances awaiting investment. Through the program, uninvested cash is automatically deposited into interest-bearing accounts at one or more partner banks. Partner banks are usually insured by the Federal Deposit Insurance Corporation (FDIC).
Cash sweep programs that partner with several banks can offer FDIC insurance beyond the typical $250,000 offered by a single bank. For example, if a cash sweep program has five partner banks, your money can become eligible for FDIC insurance up to $1.25 million.
When reviewing cash sweep programs, consider the annual percentage yield (APY), total FDIC insurance and whether you earn the APY automatically or have to sign up for a separate product.
Compare the best brokerage account cash sweep rates
While you may not want to choose a broker based solely on its cash sweep rates, it’s an important factor to consider when comparing the best brokerage accounts.
Here’s a summary of some of the most popular brokerage account cash sweep rates to compare.
| Broker | Cash sweep APY |
|---|---|
| Robinhood | Up to 5.25% |
| eToro | 4.9% |
| Moomoo | 5.1% |
| Fidelity Investments | Up to 4.9% |
| Webull | 5% |
| Interactive Brokers | Up to 4.83% |
| Wealthfront | 5% |
| Betterment | 4.75% |
| Public | 5.1% |
| Charles Schwab | 0.45% |
All rates and data are accurate as of February 14, 2024
Frequently asked questions
What is uninvested cash?
Uninvested cash is the reserve cash in your brokerage account that you’ve yet to invest.
What do I do with uninvested cash in my brokerage account?
Uninvested cash is available to trade or withdraw.
Where is the best place to put uninvested cash?
The best place to put uninvested cash is in an account that earns interest, so that your money is working for you as you wait to invest.
