Customers will now earn passive income on cash balances
TORONTO, March 18, 2024 /CNW/ -- Webull Canada, a leading digital investment platform, today announced the launch of a cash management solution for Canadian investors. With the new offering all Webull Canada customers will now earn 4% CDN interest or 3% USD interest on uninvested cash.*
Amid ongoing volatility, Webull Canada is giving back to its users by providing a competitive rate to earn money on uninvested cash at no additional cost. Interest will be accrued monthly, and there are no account minimums, lockups or limitations.
"Earning passive income on interest is a huge benefit for Canadian investors which is not very prevalent in today's market," said Michael Constantino, CEO of Webull Securities (Canada) Limited. "Webull saw initial success with its cash management tool following its launch in the United States, and we are excited to bring the same benefits to our Canadian customers."
*Interest rates applied on settled net credit cash balances in your Webull Securities (Canada) Limited account are subject to change without notice.
About Webull
Webull is a leading digital investment platform built on next-generation global infrastructure. The Webull Group is headquartered in St. Petersburg, Florida and backed by private equity investors located in the United States, Europe, and Asia. Webull serves tens of millions of users from over 180 countries, providing retail investors with 24/7 access to financial markets worldwide. Users can put investment strategies to work by trading global stocks, ETFs, options, and fractional shares, through Webull's trading platform, which is currently available in the United States, United Kingdom, Hong Kong, Singapore, Australia, South Africa, Japan, Mexico, and Canada.
SOURCE Webull Securities (Canada) Limited
Media Contact: Catherine Toor, [email protected]
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