Short of Freetrade releasing a USD currency account (if I only want to trade US stocks), in scenarios where I want to be in cash but not in sterling, would Freetrade put USD money market funds as an option?
Not sure what ETFs Freetrade are lining up but you could possibly get similar exposure through some super short duration UST bill ETFs or for a bit of yield pick up, a super short duration US IG ETF. Probably cheaper than getting a mutual fund to do it more you!
Agree with Justin. That’s an easy way to do it with existing infrastructure. I would check out JPST LN as a viable option.
Some money market investors also choose funds that are denominated in historically strong currencies like the Japanese Yen or US dollar so they’re not just holding any cash equivalent, they’re holding a very secure one. We’re adding a $ Ultrashort fund very soon.
In fact, it’s in the app right now
You should see it at the top of the list in the Discover tab.