We're excited to introduce a new feature designed to help you get more from your idle cash. With the launch of High-Yield Cash Sweep*, powered by our brokerage partner Alpaca, you can now earn up to 4.08% APY** on uninvested USD balances —It’s FDIC-insured***, and ready to use for your next investment opportunity.
What Is High-Yield Cash Sweep?
High-Yield Cash Sweep is a simple way to put your uninvested cash to work. Once you enable the feature, your settled cash is automatically “swept” to a network of FDIC-insured banks, where it earns a competitive interest rate without sacrificing access or flexibility. Sweeps occur daily after a cutoff around 11:45 AM ET, with interest accruing each day and credited monthly on the last business day.
With High-Yield Cash Sweep, your cash can potentially earn more in the background, giving you an extra boost while you stay ready for your next move. Note that the program’s APY is variable and may change over time.
Key Benefits of the Program
Earn Competitive Returns
Enrolled customers can earn up to 4.0% APR (4.08% APY), maximizing the potential of every dollar you’re not actively investing.
Protect Your Money
Swept balances are eligible for up to $1,000,000**** in FDIC insurance coverage through participating banks selected by Alpaca.
How to Enroll in Cash Sweep Through the OPTO App
Getting started with High-Yield Cash Sweep is simple:
- Open an investment account and deposit funds.
- Go to your Portfolio section and select the Cash tab.
- Scroll down and select “Enable Cash Sweep.”
To disable Cash Sweep, return to the same section and turn it off at any time.
Start putting your cash to work today with High-Yield Cash Sweep — earning more while staying protected and ready to invest.
You can find more information regarding our broker Alpaca Securities’ program here:
*The High-Yield Cash Sweep program is subject to, among other things, our broker Alpaca’s terms and conditions. In addition, customer access to the FDIC Bank Sweep is subject to, among other things, the Alpaca Customer Agreement, Alpaca Terms and Conditions, and the Alpaca FDIC Bank Sweep Program Terms and Conditions. Please see alpaca.markets/disclosures for further information and important disclosures.
**Please note that this rate is effective as of April 21, 2025, and is subject to change and may not be the applicable rate on the date this is read.
***Our broker, Alpaca Securities offers a cash management program pursuant to the FDIC Bank Sweep. Customer funds are treated differently and are subject to separate regulatory regimes depending on whether customer funds are held in their brokerage account or within the FDIC Bank Sweep. Specifically, Alpaca Securities is a member of the Securities Investor Protection Corporation (SIPC), which protects securities customers of its members up to $500,000 (including $250,000 for claims for cash). The Federal Deposit Insurance Corporation (FDIC) insures up to $250,000 per deposit against the failure of an FDIC member bank. Customer funds held in brokerage accounts are SIPC insured, but are not eligible for FDIC insurance coverage. Funds maintained in the FDIC Bank Sweep are intended to be eligible for pass-through FDIC insurance coverage, but are not subject to SIPC coverage. FDIC insurance coverage does not protect against the failure of Alpaca, Alpaca Securities, or any of its or their affiliates and/or malfeasance by any Alpaca or Alpaca Securities employee. Program banks that participate in the FDIC Bank Sweep are not members of SIPC and therefore funds held in the Program are not SIPC protected. The Program’s enhanced FDIC insurance coverage is limited to the aggregate number of participating program banks, multiplied by the FDIC insurance limit (i.e., $250,000). The total number of program banks is subject to change and Alpaca Securities may not utilize all program banks at all times which will affect the Program’s enhanced FDIC insurance coverage amount. In addition, if a customer has a direct banking relationship with a program bank this may affect the amount of funds that are potentially eligible for FDIC-pass through insurance coverage. There is no guarantee that customer funds will be held in such a manner as to maximize possible FDIC pass-through insurance coverage. Please see alpaca.markets/disclosures for important additional disclosures regarding Alpaca Securities brokerage offering as well as FDIC Bank Sweep terms and conditions.
****FDIC insurance coverage is limited to $250,000 at each program bank.
The content of this article is for general information only and is believed to be accurate as of posting date but may be subject to change. All examples are for illustrative purposes only and should not be interpreted as investment advice. Opto Markets nor our broker-dealer Alpaca Securities provide investment, tax, or legal advice. Please consult your own independent advisor as to any investment, tax, or legal statements made herein.
Opto Markets LLC is not a broker-dealer, investment adviser, nor a member of the Financial Industry Regulatory Authority (FINRA). Securities are offered by Alpaca Securities LLC (“Alpaca Securities”). Alpaca Securities is a broker-dealer regulated by the Securities and Exchange Commission (SEC), a member of the Financial Industry Regulatory Authority (FINRA) and the Securities Investor Protection Corporation (SIPC).
Alpaca Securities LLC (“Alpaca Securities”) is not responsible for and is not providing the technology and services you receive from us to access and manage your brokerage account with Alpaca Securities. You firmly agree to hold Alpaca and its affiliates, owners, directors, employees, clearing firm and agents harmless for any loss or damage arising from the use of or unavailability of the technology and services that we are providing.
Opto Markets LLC is not an investment advisor and nothing herein or mentioned on any other Opto channel should be construed as investment advice. The content on this website, on our app and on any other Opto channel is provided for informational, educational and entertainment purposes only. Opto Markets LLC does not recommend any specific securities or investment strategies. Investing involves risk & investments may lose value, including the loss of principal. Past performance does not guarantee and is not an indicator of future results. Investors should consider their investment objectives and risks carefully before investing. Please seek the advice of an investment or financial advisor, and do not apply any of the generalized material available herein or on other Opto channels to your individual facts or circumstances without speaking to an investment or financial advisor.
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