EverTrade (EverBank Brokerage) Account Review
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But not just new — we work hard to bring something better to our clients, particularly when it comes to long-term financial strategies. One of our most interesting areas of innovation is unique investing opportunities via foreign currencies and precious metals. There are many ways to use these to lower your overall portfolio risk and venture into non-correlated asset classes — those that may operate largely independently of the ups and downs of conventional stock and bond markets.
Bear in mind that foreign currencies and precious metals carry inherent risk. Of course, some of our currencies come with a yield, which acts as a hedge against those price fluctuations.
These easy-to-understand accounts give you access to foreign currency markets, with the support of our Foreign Currency specialists who can answer questions about the national economies issuing the currencies. They range from the well-known currencies of all of the major economies to more aggressive developing country currencies such as the Chinese renminbi.
Certain currencies are only offered in a non-deliverable format, and Access accounts are money market deposit accounts, meaning transaction limitations apply. Many of the WorldCurrency CDs offer a yield based on the interest rates paid in the country issuing the currency. This interest can help offset some of the downside risk of price fluctuations. All are backed by FDIC insurance with the provisos mentioned earlier.
The performance of each CD is tied to a certain index, like foreign currencies or commodities, and they are all free of any associated principal risk. Past MarketSafe CDs have been tied to the price of gold, emerging market currencies, and even Japanese real estate.
These CDs typically carry a longer term, typically from 3 to 5 years, and they generally cannot be closed prior to maturity. We are also one of the only banks in the U. We offer two ways to hold metals in your portfolios: In an unallocated account, rather than buying actual coins or bars, your metals investment is pooled with that of other customers.
This gives your portfolio the benefits of precious metals ownership, but without the added costs often associated with buying individual coins or bars. With pooled metals, there are no storage, delivery or annual account fees. Should you ever wish to receive actual metal, you can convert your account into an allocated account for a fee. We also offer a Metals Automatic Purchase Plan for the unallocated metals account that allows you to take advantage of dollar-cost averaging to grow your metals holdings month by month.
With allocated accounts, you own specific, audited metal in your own name, including gold, silver, platinum and palladium. You can invest in a variety of coins or bars. You can even trade in the local currency. EverTrade customers can access easy-to-use online trading tools or work directly with a broker.
These products could be a good option for people right here in the U. For more details and important disclosures, please visit our website: EverTrade Direct Brokerage, Inc.
Are Not Bank or Government Guaranteed. Are Not Deposits of EverBank. Foreign investing involves special risks such as currency, economic, political and social instability in addition to varying accounting and disclosure standards.
Be sure you understand these risks prior to investing.