Webull Launches Cash Account With Up To 5.8% APY

US-regulated Webull is offering a cash management account with an APY booster coupon. On top of the 4.1% APY base, which is 12x the national deposit rate, qualifying users will receive an additional 1.7% APY for 30 days. There is also no minimum balance requirement and zero fees.

How It Works

The offer is available to new clients of Webull Financial LLC that open a cash account by 31 May 2023. Users can opt into the offer in the ‘My Rewards’ section of the Webull app.

Customers must fund their accounts with supported payment solutions, such as wire transfers, ACH transfers, or automated customer account transfers.

Upon receipt of the deposit, clients will receive an additional 1.7% APY coupon that applies to balances up to $10,000 for 30 days.

In total, users will receive 5.8% APY.

Fees & Withdrawals

There is no charge to open a Webull cash management account. There are also no ongoing fees.

Our team were also pleased to see there are no restrictions on withdrawals – clients can withdraw their balance at any time.

And with no minimum deposit, even those with a limited bankroll can benefit from the deal.

About Webull

Webull is an award-winning broker founded in 2017 and registered with the US Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA).

We rate the beginner-friendly app which offers opportunities on over 2000 stocks and ETFs, from big firms like Meta to major indices like the S&P 500. US investors can also speculate on foreign stocks, alongside currencies and crypto.

The brand’s commission-free trading model has proven popular with retail investors. Instead of a flat transaction fee, Webull takes its cut from margin interest, which starts at 6.99% on accounts with a balance of <$25,000.

Online traders can also make use of the suite of extra tools and market insights. This includes a News Centre for stock updates, as well as an IPO hub and an active YouTube channel.

With an intuitive trading environment and a competitive new cash management account, Webull is well-positioned to attract aspiring investors.

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Review

Webull is a multi-regulated trading app that offers stocks, options, forex, cryptos, ETFs, fractional shares and more. The firm is authorized by the SEC, FINRA and FCA and continues to uphold a strong trust rating. Low fees, no minimum investment and generous welcome bonuses have made the discount broker popular with online investors.