Webull UK has launched a new feature that integrates savings and investment capabilities into a single platform. This offering, dubbed Webull Savings, aims to allow users to diversify their funds and earn from their savings without the need for multiple bank accounts.
Unified Saving and Investments Platform
According to the official statement, customers can compare interest rates, deposit money into various bank accounts, and move funds between trading and banking utilizing a single Webull account. This integration reportedly simplifies the process of asset diversification and ensures that users can make the most of their investments.
Commenting about the new offering, Nick Saunders, the CEO of Webull UK, said: "Our top priority at Webull is to empower our clients to make informed investment decisions with the help of technology. Being able to compare savings accounts and diversify cash holdings will help Webull users make the most of their assets. Our clients can keep their money in regulated bank accounts and earn interest, ready for investment or as part of a diverse portfolio."
Additionally, the new platform allows users to spread funds across multiple bank accounts to mitigate risk and ensure their savings are secure. Within the Webull platform, users can reportedly compare interest rates and choose the savings accounts that best suit their needs.
Webull Expands Offerings
In May, Webull introduced a new version of its trading app branded Webull Lite. This platform provides users access to the same tools and educational resources as the traditional Webull platform. It provides four main capabilities: investing, saving, goal planning, and personalized settings.
Elsewhere, Webull Canada rolled out a cash management solution in March. This offering enables clients to earn interest rates of 4% on the Canadian dollar or 3% on the US dollar for uninvested cash. Webull mentioned that this step responds to the heightened demand for investment platforms with more benefits besides traditional trading options.
The digital investment giant also launched futures and commodities trading services on its platform. This initiative seeks to provide the online retail trading platform's clients the opportunity to diversify their investment portfolios.
