Webull Launches Moneybull, Offering Interest on Idle Funds in Australia

by Damian Chmiel
  • The company is offering a yield of 5.4% on idle cash.
  • Moneybull aims for returns with no fees, boosting passive investment options.
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As part of the growing trend of offering clients passive forms of capital accumulation, the Australian branch of the popular trading platform Webull announced the launch of Moneybull today (Monday).

Moneybull is an inbuilt cash management tool that currently offers eligible Australian users a yield of 5.4% on idle cash deposits in US dollars. Compared to competitive offers from other trading companies and brokers, this appears to be one of the higher interest rates offered.

Webull Launches High-Yield Cash Management Tool in Australia

Moneybull aims to provide an "ultra-competitive return" compared to cash products from traditional brokers and banks. According to the official press release, the new product is free of management fees and account opening charges, and the minimum deposit is $1. Interest is paid out automatically each month, and the auto-sweep function allows for its use to settle transactions conducted on real markets.

Rob Talevski, the CEO of Webull Securities Australia, said Moneybull allows the company to offer a cash product that meets many high-yield accounts available to consumers. He added that with struggling markets and the increasing importance of portfolio yields, it is “the right thing to do to seek out and pass on great cash returns, while allowing traders to use that collateral to trade.”

The launch of Moneybull came at a time when interest rates were high and investors were looking for places to park their cash. More and more companies from the retail trading and cryptocurrency sectors are taking advantage of this by offering their clients interest on idle funds.

In the meantime, the company realized the acquisition of shares in Flink and the Mexican brokerage Vifaru Casa de Bolsa, allowing it to expand its operations in the Latin American markets.

Trend Toward Passive Investing

A month ago, Finance Magnates exclusively reported that XTB, a publicly traded Polish FX/CFD broker, offered its clients up to 5% interest on idle deposits.

"We are fully aware that our clients are looking for additional ways to put their money to work while waiting for market opportunities to start investing actively," Omar Arnaout, the CEO of XTB, commented.

Previously, many other trading firms had presented similar offers. In April, for instance, Swissquote announced this in response to strong interest rate hikes in Switzerland. In September, Amsterdam-based BUX introduced a similar offer; in the meantime, Robinhood has also introduced it.

As part of the growing trend of offering clients passive forms of capital accumulation, the Australian branch of the popular trading platform Webull announced the launch of Moneybull today (Monday).

Moneybull is an inbuilt cash management tool that currently offers eligible Australian users a yield of 5.4% on idle cash deposits in US dollars. Compared to competitive offers from other trading companies and brokers, this appears to be one of the higher interest rates offered.

Webull Launches High-Yield Cash Management Tool in Australia

Moneybull aims to provide an "ultra-competitive return" compared to cash products from traditional brokers and banks. According to the official press release, the new product is free of management fees and account opening charges, and the minimum deposit is $1. Interest is paid out automatically each month, and the auto-sweep function allows for its use to settle transactions conducted on real markets.

Rob Talevski, the CEO of Webull Securities Australia, said Moneybull allows the company to offer a cash product that meets many high-yield accounts available to consumers. He added that with struggling markets and the increasing importance of portfolio yields, it is “the right thing to do to seek out and pass on great cash returns, while allowing traders to use that collateral to trade.”

The launch of Moneybull came at a time when interest rates were high and investors were looking for places to park their cash. More and more companies from the retail trading and cryptocurrency sectors are taking advantage of this by offering their clients interest on idle funds.

In the meantime, the company realized the acquisition of shares in Flink and the Mexican brokerage Vifaru Casa de Bolsa, allowing it to expand its operations in the Latin American markets.

Trend Toward Passive Investing

A month ago, Finance Magnates exclusively reported that XTB, a publicly traded Polish FX/CFD broker, offered its clients up to 5% interest on idle deposits.

"We are fully aware that our clients are looking for additional ways to put their money to work while waiting for market opportunities to start investing actively," Omar Arnaout, the CEO of XTB, commented.

Previously, many other trading firms had presented similar offers. In April, for instance, Swissquote announced this in response to strong interest rate hikes in Switzerland. In September, Amsterdam-based BUX introduced a similar offer; in the meantime, Robinhood has also introduced it.

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