A Month With Moneybull: Returns and Thoughts

This article is brought to you by Webull. All views expressed in the article are the independent opinions of Sethisfy.com. Investing involves risk and you should do your due diligence. Read Sethisfy.com’s editorial policy.

Time flies and it’s been a month since I placed funds in to Webull’s cash management account, Moneybull. Here’re some of the numbers and thoughts I’ve to share some 31 days later.

Returns

Moneybull uses Fullerton USD Cash Fund for money you deposit in USD and Fullerton SGD Cash Fund for Singapore dollars. I chose the SGD version since I prefer not to have forex risk for this sum of savings.

I placed S$138,647.34 on 16th October 2023 and the returns over the past 31 days are as such:

For a product that calls itself “cash management”, returns and the stability of returns are of upmost importance. In this regard, I think Fullerton SGD Cash Fund has done pretty well, delivering S$461.12 of returns over a period of a month. On my initial deposit, that’s roughly 3.86% p.a. returns and very in line with the interest rate environment we’re in.

After all, Fullerton cash funds place money into deposits with financial institutions like banks so one would expect the returns to be competitive with things like bank deposits. Fun fact: from February 2024, Fullerton cash funds will also be able to invest in things like government t-bills. A little slow to hop on government bonds, but better late than never.

I’ve mentioned previously that it was quite pleasant having the thought that one’s lunch and perhaps even dinner expenses are settled by the returns from my Moneybull money. This is because the app displays the daily returns earned which is a fun thing to check every now and then for that little dopamine hit of seeing your funds grow. No breakdown of interest over weekends, however, and returns accrued on Saturdays and Sundays are lumped together with Monday’s returns.

These are decent returns, but it is made much sweeter that I can expect thousands of dollars (in USD!) once I finish my holding period with Moneybull because of an ongoing promo (see below for more details).

Promo

New users get two incredible welcome offers. Each would be attractive enough on their own, but you can enjoy both.

The first is getting 10 free shares worth at least US$100 and could go all the way up to US$5,000 if you are lucky. The requirements are very straightforward and fuss-free: simply apply with the link below and fund any amount (yes, even a dollar works) for at least 30 days. Sign up for a Margin account if you wish to participate in the Moneybull promo.

After signing up, you can also proceed to participate in the Moneybull promo and deposit funds to enjoy up to US$2,000 of further rewards.

Webull

Bonus Gifts until end of 30th June 2024

RequirementReward
Sign up and fund minimum initial of US$2,000 by end of 12th June 2024 and maintain until at least 30th June 2024S$150 vouchers or S$120 cash
Sign up and fund minimum initial of US$10,000 by end of 12th June 2024 and maintain until at least 30th June 2024S$270 vouchers or S$250 cash
First 40 applicantsAdditional
S$150 cash
via PayNow
Terms and conditions apply. ⚠️ Fill up SingSaver Rewards Redemption Form in email to qualify. No form = no reward!

Plus current Webull offer until 3.59PM 1st July 2024

ItemReward
 Register and open account with this link 0 commission trades for US Stocks and ETFs for 31 days
0 subscription fees for mutual funds
Welcome Promo (New Users)A) Deposit ≥US$2,000, complete 3 US buy trades and maintain until 31st July 2024; or

B) Deposit ≥US$10,000, complete 5 US buy trades and maintain until 31st July 2024
A) Get US$80 cash vouchers

B) Get US$400 cash vouchers
Moneybull Interest Booster (New Users) Deposit ≥US$100,0001.8% USD p.a. MoneyBull Interest Booster* for 180 days – up to US$3,500!
Transfer-in Promo
(New and Existing Users)
Participate in Transfer-in Promo and fill out Share Transfer Form

First transfer of shares and maintain for 90 days
a) Transfer US$5,000 worth: get US$50

b) Transfer US$10,000 worth: get US$200

c) Transfer US$50,000 worth: get US$500

b) Transfer US$150,000 worth: get US$1,500

Also get up to US$150 transfer fee subsidy
You can fund the equivalent in Singapore dollars using the rate SGD$1 = US$0.7297

Get 0 platform fee, and trade fractional shares from as low as US$5 per trade. Great for dollar-cost averaging small amounts!

^&*T&Cs Apply. ^Figures shown are based on a 5.2% 7-Day Yield (P.A.) of the USD Cash Fund in Moneybull as of 24 May 2024 plus a 1.8% Moneybull Interest Booster P.A. . Principal is not guaranteed. Returns are not guaranteed and not an indication of future performance. All investments involve risks and are not suitable for every investor. This advertisement has not been reviewed by the Monetary Authority of Singapore.

Terms and conditions:

Last updated: 11th June 2024

How to participate in Moneybull promo

To participate in the Moneybull promo, follow these steps:

StepRemarks
1Open Webull app → Menu → Find promo under Promotion CenterAccount must be opened
2Tap Participate NowOnly available for new Webull users
3Activate Moneybull Margin account required; convert your account to Margin if you opened a cash account (takes 1-2 days)
4Deposit at least US$3,000 (or SGD equivalent) before 30th November 2023 4PMSee below for deposit amount and rewards.
Funds are auto-swept into Moneybull funds every weekday around 10AM.
5Hold the funds until 29th February 2024 11.59PM⚠️ Do not make withdrawals until 1st March 2024!
Optional: convert funds to USD for USD fundIf you convert your funds to USD, your money will be placed in Fullerton USD with higher projected returns but subject to forex risks and currency conversion costs
Optional: set retained amount to keep funds in cashYou may set any amount to be left as cash in your Webull account instead of being invested in the Fullerton cash funds (no returns, but will meet promo requirements)
Please read the terms and conditions for exact details.

You must have a Margin account to qualify so if you did not sign up for a Margin account, you need to convert it from within the app.

There are three different deposit tiers:

TierDeposit AmountBonus RewardsAnnualised Returns*
1US$3,000 or S$4,111.28US$10013.89% p.a.
2US$20,000 or S$27,408.53US$75015.73% p.a.
3US$100,000 or S$137,042.62US$2,0008.17% p.a.
Please read the terms and conditions for exact details.
*assumes deposit is done 30th November 2023 and withdrawal on 1st March 2024

When all requirements are met, the rewards are credited by 5th March 2024. Note that these rewards are on top of your Moneybull returns! Just for fun, I calculated the reward amount as a return on the deposit amount, and you can get as much as 15.73% p.a. bonus return on top of the Moneybull’s performance. The promo is very generous indeed and not to be missed if you have yet to sign up for a Webull account.

Parting thoughts

With good returns from the underlying funds to a generous lump sum reward, this promo might be one of the best deals we’ve seen in 2023 – not an easy feat because there were so many great deals this year! It’s been extended once, and there’s really no telling if it will end soon so I suggest not waiting until the last minute as you might need some time to get everything up and running before the 30th November deadline.

I’ve been logging in to the Webull app a lot more since using Moneybull, and I suppose that’s the point – to get more usage from users to promote their trading platform. Moneybull’s funds can be used to invest, and that’s something I intend to explore so stay subscribed to the Telegram to get updates on such things and so you don’t miss great deals coming really soon.

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