Investors who have cash sitting in their trading account could be earning five times more interest by moving it somewhere else.
Customers typically keep about 5 to 10 per cent of their investment portfolio in cash so that it can be easily put to work when an opportunity arises. But investment firms are being investigated by the regulator for not passing on interest rate rises to customers.
The Bank of England’s base rate rose 14 times from a record low of 0.1 per cent in December 2021 to 5.25 per cent in August 2023. It stayed there until August this year, when it dropped to 5 per cent. The Financial Conduct Authority (FCA), the City regulator, has already reproached high street banks for failing to
