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 4.59% APY on uninvested USD balances — all while keeping your funds safe, 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 earn more in the background giving you an extra boost while you stay ready for your next move. Note that the program’s APR is variable and may change over time.
Key Benefits of the Program
Earn Competitive Returns
Enrolled customers can earn up to 4.50% APR (4.59% APY) — nearly 10x the current national average for savings accounts^, 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, giving you an extra peace of mind.
Use Your Funds Anytime
High-Yield Cash remains fully liquid and available. You can withdraw, transfer, or invest your cash immediately — without the delays often seen with other high-yield accounts.
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 here:
List of Participating Sweep Banks
*FDIC insurance coverage is limited to $250,000 at each program bank
^ Federal Deposit Insurance Corporation. (2024). Monthly Update – September 2024. fdic.gov. https://www.fdic.gov/national-rates-and-rate-caps/monthly-update-september-2024
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 do not 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).
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.
Disclaimer Past performance is not a reliable indicator of future results.
CMC Markets is an execution-only service provider. The material (whether or not it states any opinions) is for general information purposes only, and does not take into account your personal circumstances or objectives. Nothing in this material is (or should be considered to be) financial, investment or other advice on which reliance should be placed. No opinion given in the material constitutes a recommendation by CMC Markets or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person.
The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although we are not specifically prevented from dealing before providing this material, we do not seek to take advantage of the material prior to its dissemination.
CMC Markets does not endorse or offer opinion on the trading strategies used by the author. Their trading strategies do not guarantee any return and CMC Markets shall not be held responsible for any loss that you may incur, either directly or indirectly, arising from any investment based on any information contained herein.
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