The new savings account from NordFX leverages DeFi technology to generate passive income. Clients can also boost profits in the financial markets by taking a trading loan at 3%. Find out how the latest investing solution works.
NordFX Savings Account
DeFi, or decentralised finance, refers to blockchain-based applications that seek to remove financial intermediaries. Increasingly popular in the crypto space, DeFi apps hand financial control back to the user. They’re also being used to generate impressive returns.
Developers at NordFX have made DeFi the cornerstone of their new savings account. Clients benefit from returns much higher than typical interest on bank accounts. While passive income on the investments may vary, traders are currently receiving approximately 30% per annum. Profits are credited to the trader’s account each day and can be withdrawn with zero restrictions.
One notable advantage of the NordFX savings account is the ability to take a trading loan based on the funds deposited. 3% interest is charged on the loan but this is deducted from investment returns. The loaned capital is made available instantly and can be used to trade on forex and CFD markets.
The new savings account uses Tether (USDT) as its account currency. The stablecoin is among the most popular crypto worldwide and is pegged to the US Dollar at a ratio of 1:1. Deposits into the NordFX savings account can also be made via alternative stablecoins; USDC and DAI.
NordFX is an established name in the retail trading space, providing a string of currencies, precious metals and a collection of cryptos, including Bitcoin. The broker also offers ultra-tight spreads starting at zero pips.
Clients can analyse the financial markets using the MetaTrader 4 platform. MT4 can be downloaded for free to desktop and mobile devices. The broker also attracts attention for its bonuses and promos with large cash prizes up for grabs.
NordFX is a popular trading broker offering instant access to leading markets. Alongside its selection of live accounts, users can now turn to the broker’s new savings account to generate a passive income stream.