Do I earn interests on my deposits?
Yes, through an agreement with Federated Investors, Inc., DriveWealth is making available a money market fund into which your account’s free credit balances will be swept. Free credit balances include un-invested deposits, dividends and interest, and funds from transactions, such as sales of stocks. The money market is the Federated Prime Cash Obligations Fund. Your free credit balances are automatically swept into the Federated Prime Cash Obligations Fund. The timing and amounts to be swept will be set according to the terms of the cash sweep feature. Credit balances that are needed to satisfy a settling transaction are not free and are not available for the cash sweep feature. All sweep transactions will appear on your periodic Account statements. These Account statements indicating sweep transactions are provided in lieu of separate confirmations.