Note for auto Subscription

Note for Auto Subscription

The auto Subscription and Redemption cut-off daily.

The automatic subscription/redemption function of Moneybull cut-off at 9:00 am in each Hong Kong business day, otherwise, it will be processed on the next business day. The instruction will not be placed during holidays in Hong Kong and United States.

*The financing interest charges incurred due to HKD or USD overdraft in the client's account when using purchasing power of automatic subscription/redemption function to execute orders in HK or US stock market during holidays. (applicable to cash account type and margin account type)

Auto Subscription

The minimum idle cash in the stock account must be at least HKD 1 or USD 1, while the maximum amount is HKD 800,000 or USD 100,000, that means the subscription order will be executed automatically when client's remaining amount exceeds the retained amount. That amount will be used to subscribe MMFs automatically from the latest Hong Kong business day. Webull HK will receive the allocation units at around 8pm on the same day. (The receiving time might be different according to the settlement time of the fund) Please note that the minimum subscription subject to change from time to time, without prior notice.

*Retained Amount: The clients can modify the retained amount of auto Subscription at any time, The modified and saved reserved amount will take effect in the latest auto Redemption initiated. For example: clients changed the retained amount from the original $400 to $800, if the clients have $900 idle cash, since the system took effect last time after the modification of the automatic subscription, the clients will initiate an automatic subscription of $800.

Auto Redemption

After you activated the Moneybull service, market value of your Money Market Funds (“MMFs”) would be included in the unified purchasing power, which can be directly used for your purchase of other financial products, subscription of other funds, immediate fund withdrawal and currency exchange, no manual redemption in advance is required, because the system will automatically redeem the corresponding market value of your MMFs based on the account arrears at 9:00 am on every Hong Kong business day.

Redemption proceeds will be credited to the your account after 8:00 pm in Hong Kong time. (According to the settlement time of the fund).***Please note that if your account is overdrawn before the MMFs are successfully redeemed, interest will be incurred (applicable to cash account type and margin account type).

Please noted that if there is insufficient cash balance for settlement in your account before completion of the MMF redemption, there will be interest charged on the negative cash balance (Applied to all types of trading accounts).

As MMF was counted as part of your unified purchasing power in your client, if there is negative cash balance occurred, redemption of MMF will be automatically proceeded to cover the negative cash balance of the client’s account. Examples of interest charged due to negative balance include, but are not limited to:

1) Currency exchange: Convert HKD or USD fund to other currencies (e.g. Hong Kong dollars or RMB)

2) Public Holidays: The redemption of MMF denominated in HKD or USD is delay due to public holidays which result in insufficient cash balance for settlement

The minimum idle cash in the stock account must be at least HKD 1 or USD 1, while the maximum subscription amount is HKD 800,000 or USD 100,000. (minimum subscription subject to change from time to time, without prior notice)

For further enquiries, please refer to Webull Website -> Help Center -> Wealth Management -> Cash Management