“Earning passive income on interest is a huge benefit for Canadian investors which is not very prevalent in today’s market. 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.”
Webull Canada has introduced a cash management solution for Canadian investors, offering 4% CDN interest or 3% USD interest on uninvested cash.
The low-cost digital investment platform aims to provide Canadian users with a means to earn passive income amid market volatility, at no extra charge.
No minimums, lockups, or limitations
Interest accrues monthly without the need for account minimums, lockups, or limitations. It is important to note that interest rates on settled net credit cash balances in Webull Securities (Canada) Limited accounts are subject to change without notice.
Webull, based in St. Petersburg, Florida, and supported by private equity investors from the United States, Europe, and Asia, operates globally. It serves millions of users across over 180 countries, offering 24/7 access to financial markets and allowing for a variety of investment strategies through its platform. Webull’s services are available in multiple countries, including the United States, United Kingdom, Hong Kong, Singapore, Australia, South Africa, Japan, Mexico, and now Canada.
Michael Constantino, CEO of Webull Securities (Canada) Limited, said: “Earning passive income on interest is a huge benefit for Canadian investors which is not very prevalent in today’s market. 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.”
Webull Canada opened for business in January of this year, with its brokerage services now available to Canadian residents, which means access to both Canadian- and US-listed equities through the Webull app.
The goal of Webull is to disrupt a traditionally expensive brokerage system in Canada via its low-cost business model. The firm an app, market data, tools, analytics, and education for free.
Authorized in November 2023, Webull Canada launched order execution-only brokerage functions, offering features such as real-time quotes, comprehensive market data, 20+ charting widgets, 60+ indicators, paper trading, and educational tools.
