The share trading platform is now offering a 1 per cent deposited value (cash and/or shares) match for SMSF, trust and company accounts, up to $1 million.
Rob Talevski, CEO of Webull Securities Australia, said this effectively meant an additional 1 per cent improvement in performance gain over 12 months.
“This is something we offer in some of the biggest capital markets in the world, like the US and UK as part of the Webull group and our view was that we should be able to offer and investment solution for global investors in Australia,” Talevski said.
“US investors are really spoiled for choice in terms of the products they can access and the way we see it is that we should offer investors in any country in which we do business the same things that we afford to our other clients globally.”
The offering would see a 1 per cent cash reward on every dollar deposited or any shares transferred into eligible SMSF, trust, and company accounts with a $1 minimum deposit and up to any contribution amount up to $1 million.
Users would retain the full benefit while actively investing matched funds in any securities and the reward is distributed in two equal instalments, paid every six months after the promotional period concludes.
Webull has already seen a rise in the number of SMSF investors moving onto its platform, especially in the under 35 years demographic, who Talevski said are seeking out opportunities to build and control their own wealth.
“There’s a lot of younger people now that are managing their own super fund and maybe they don’t have hundred of thousands of dollars to bring over, but they may have $20,000,” he said.
“This 1 per cent offering will make a difference to them. If you look at your performance for a fund over the year, I think anyone will happily take an extra 1 per cent without having to work for it.”
Talevski said in the SMSF space particularly, there are a large number of high-value accounts and with this offering Webull will match the 1 per cent not just on cash deposits, but on total assets.
“You bring existing shares you might hold and Webull will match it to that 1 per cent.”
“We’re not going to say you can’t do anything with it. We absolutely want you to invest it, whether you put it in a yielding facility with Webull or whether you actually buy stock with.
“The only thing we ask is you maintain those assets on our platform for 12 months, and then we will contribute the 1 per cent in two instalments.”
