Webull Australia offers 5.4% yield on uninvested cash

Rick Steves

“US dollar money market funds are heavily regulated, meaning client funds are managed in a safe, reliable and trusted environment, which is of critical importance to us, and continues to remain top-of-mind for our clients.”

Webull Securities Australia, a subsidiary of Webull Corporation, has launched Moneybull in Australia.

This new cash management tool offers Australian users a 5.4% yield on uninvested cash. Notably, Moneybull requires no sign-up costs, no management fees, and accepts a minimum deposit of just US$1.00.

Moneybull is designed to provide competitive returns on US dollar deposits through a USD money market trust fund. This offering is set to match or surpass the returns of many existing cash products from traditional brokers and banks. The returns from Moneybull are accrued daily and paid out monthly.

“A broker-integrated cash product with superior yields”

A unique feature of Moneybull is its auto-sweep function. This feature maintains the users’ purchasing power on the Webull platform. It allows for seamless settlement of trades using funds from the money market, eliminating the need for manual transfers. Additionally, this auto-sweep function can automatically invest idle cash into the money market fund, enhancing overall returns and asset growth.

Rob Talevski, CEO of Webull Securities Australia, highlighted the significance of Moneybull. “Webull Australia’s new Moneybull offering is a game changer in terms of creating a broker-integrated cash product that meets or even beats many of the traditional high-yield cash accounts currently available to the Australian consumer.

“This is especially relevant right now, as markets struggle to find upward momentum and portfolio yields become more important. In the current higher-interest-rate environment, we felt it was the right thing to do to seek out and pass on great cash returns, while allowing traders to use that collateral to trade. This is the result we’ve managed to achieve with our new Moneybull offering.

“Finally, US dollar money market funds are heavily regulated, meaning client funds are managed in a safe, reliable and trusted environment, which is of critical importance to us, and continues to remain top-of-mind for our clients.”

  • Read this next

    Retail FX

    Weekly Roundup: FX prop firms switch to cTrader, who moved $1.35B BTC?

    The foreign exchange and cryptocurrency markets are always active, and this past week was no exception. Stay ahead with a selection of essential stories and updates that matter most to market participants.

    Digital Assets

    Bitcoin breaks all records with a massive $1.347 billion transaction

    This transaction has surpassed previous records, setting a new benchmark for Bitcoin trades. Before this event, the largest Bitcoin transactions included a $1.1 billion trade in April 2020 involving 161,500 BTC, and other significant transactions ranging from $491 million to $1.033 billion throughout 2019 and 2020.

    Digital Assets

    Uniswap debuts Ethereum ‘uni.eth’ subdomains

    Decentralized exchange platform Uniswap has integrated Ethereum Name Service (ENS), allowing users to create human-readable domain names and cryptocurrency wallet addresses using .eth endings.


    Magic Square Expands with TruePNL Acquisition

    Binance’s web3 app store, Magic Square, acquired token platform TruePNL in a cash deal this week for an undisclosed sum. The deal brings TruePNL’s infrastructure (excluding branding & token) under Magic Square’s wing. Initially seeking a partnership, Magic Square opted for a full acquisition.

    Crypto Insider

    The Future of Prediction Markets? Zeitgeist Launches Decentralized Court System

    Polkadot-powered prediction market protocol Zeitgeist has announced the launch of its latest innovation: a decentralized court system.

    Digital Assets

    Crypto exchange Kraken fires back at SEC lawsuit, claiming overreach

    Crypto exchange Kraken is pushing back against the U.S. Securities and Exchange Commission (SEC), seeking to toss out a lawsuit that accused the platform of operating without proper registration.

    Industry News

    Exness Named a Best Place to Work in 2024

     Global leader Exness, tops in retail trading volume, earns 2024 “Best Place to Work” award, cementing its employee-centric culture after three prior years of winning the Cyprus national title.

    Digital Assets

    Swan Bitcoin taps Bakkt for crypto offering in the US

    “We are thrilled to be taking this exciting step forward in our partnership with Swan. This is just the beginning of our collaboration, as we intend to explore further growth opportunities together in the future, including expansion into international markets.”

    Digital Assets

    Polkadot Awards Bifrost a 500,000 DOT Loan to Enhance Liquid Staking Adoption

    Bifrost, a leader in liquid staking solutions, has secured a 500,000 DOT loan from Polkadot’s treasury to expand the reach and utility of its vDOT product within the ecosystem.