Zyane Tan is an editor at Finder. An experienced copywriter and content creator, Zyane enjoys writing on a wide array of subjects. When she’s not busy typing away, she’s reading and musing over a pint.
Quick verdict
Good for
Zero commission and transparent fee structure
Fractional share trading
Intuitive platform with advanced tools
Not so great for
Limited range of investment products
No access to digital assets
Thin educational support and resources
Ongoing promotions
Welcome rewards
New users or existing users without a previously funded account may enjoy the following welcome rewards from 1 August to 1 September 2022:
Reward
Eligibility criteria
Zero commission for US stocks, options and ETFs trading
None
3-month Level 2 US market data subscription
Register for a Webull account
USD60 worth of GOOG fractional shares
50% off FWD Travel Insurance Plans (first 500 subscribers)
Register a Webull account
Initial funding of minimum SGD1,965
Execute at least 1 buy trade of either Stock, ETFs or Options on the US market within the campaign period. Note that there is a minimum trade value of USD100 for Stocks and ETFs trades
Bonus: Additional USD40 worth of GOOG fractional shares
Register a Webull account
Initial funding of minimum SGD1,965
Execute at least 1 buy trade of either Stock, ETFs or Options on the US market within the campaign period. Note that there is a minimum trade value of USD100 for Stocks and ETFs trades
In addition, execute 5 buy trades of either Stock, ETFs or Options on the US market within the campaign period
Referral rewards
Benefit from the following rewards when you refer a friend to Webull (up to 10 referrals) from 1 August to 1 September 2022:
Reward
Eligibility criteria
Up to US$390 worth of AMZN fractional shares
Invitee must register for a Webull brokerage account using a unique referral link from the inviter; AND
Invitee must make an initial deposit of at least SGD1,965 during the campaign period via the Webull app
Note: Offer is subject to change without prior notification. Terms and conditions apply.
About Webull
Headquartered in New York, Webull Financial LLC is a Chinese-owned stockbroker that was originally founded in 2017. The mobile-first trading platform was subsequently launched in the United States in 2018 and entered Hong Kong in 2020.
As part of its global expansion plan, the firm announced in May 2022 that it was extending its services to Singapore under Webull Securities (Singapore) Pte Ltd.
Webull is regulated by the MAS
Webull Securities (Singapore) Pte. Ltd. (“Webull Securities”) is a Capital Markets Services Licence holder under the Securities and Futures Act 2001, licensed and regulated by the Monetary Authority of Singapore.
Key features of Webull App
Take a look at some of Webull’s features before deciding if this is the right broker for your trading needs:
Charting tools
Make better investment decisions with Webull’s 17 line chart options along with 60 technical indicators.
Real-time market data
Gain better insights into the market’s demand and supply with NASDAQ TotalView and NBBO quotes.
Fractional shares
Enjoy the flexibility to own shares based on the dollar amount you wish to invest instead of a whole share. Do note that you can only purchase fractional shares using market orders, spot trades and during trading hours.
Option trading
Minimise your risk with limit and market orders during regular trading hours. Simply submit an application through the Webull app to enable options trading on your account.
Margin trading
Leverage the value of your securities to magnify your gains. However, bear in mind that margin trading entails higher risk.
Which markets can I access with a Webull account?
Webull only supports trading in 2 markets:
Hong Kong
United States
With a Webull account, you’d be able to trade the following financial instruments:
Stocks
Options
Exchange traded funds (ETFs)
American depository receipts (ADRs)
What account types are available on the Webull app?
Webull only offers 2 account types:
Individual cash account
Individual margin account
Do note that while you’re only allowed to open 1 account, you can always choose to convert it to either a cash or margin account in the future. Account conversion typically takes 2 business days to be processed.
What fees are charged when using Webull?
While Webull doesn’t charge any commission when you trade the accessible products on its platform, do keep an eye out for various fees imposed by external authorities.
US stocks and ETFs
Items
Charges
Charged by
Commission
0
Webull
Platform fee
0
Webull
Regulatory transaction fee (sell trades only)
US$0.0000229 * total trade amount (minimum US$0.01)
US Securities and Exchange Commission (SEC)
Trading activity fee (sell trades only)
US$0.00013 * total trade volume (minimum US$0.01, maximum US$6.49 per trade)
US Financial Industry Regulatory Authority (FINRA)
Note: The information provided is accurate as of 26 July 2022. Subject to changes at Webull’s discretion and 7% GST as levied by the Singapore government.
Options
Items
Charges
Charged by
Commission
0
Webull
Platform fee
0
Webull
Transaction fee (sell trades only)
US$0.0000229 * total trade amount (minimum US$0.01)
US Securities and Exchange Commission (SEC)
Trading activity fee (sell trades only)
US$0.00218 * number of contracts (minimum US$0.01)
US Financial Industry Regulatory Authority (FINRA)
Options regulatory fee
US$0.02915 * number of contracts
Options Exchanges
Clearing fee
US$0.02 * number of contracts (maximum US$55 per trade)
Options Clearing Corporation (OCC)
Note: The information provided is accurate as of 26 July 2022. Subject to 7% GST as levied by the Singapore government.
Others
Items
Charges
Charged by
American depositary receipt (ADR) custody fee
US$0.01 to US$0.03/share
US Depository Trust Company (DTC)
Note: The information provided is accurate as of 26 July 2022. Subject to 7% GST as levied by the Singapore government.
Financing interest rate
Items
Tier
Annual interest rate
US$
0 to 50,000
0%*
US$
Above 50,000
3.50%
Note: The information provided is accurate as of 26 July 2022. Subject changes at Webull’s discretion and 7% GST as levied by the Singapore government.
HK stocks and ETFs
Items
Charges
Charged by
Commission
0
Webull
Platform fee
0
Webull
FRC levy
0.00015%
HK Financial Reporting Council (FRC)
Stamp duty
0.13% (minimum HK$1, rounded up to the nearest dollar) *ETFs exempted
HKSAR government
Transaction levy
0.0027% (minimum HK$0.01)
HK Securities and Futures Commission (SFC)
Settlement fee
0.002% (minimum HK$2, maximum HKS100)
HK Securities Clearing Company Limited (HKSCC)
Trading fee
0.005% (Minimum HKS0.01)
Stock Exchange of Hong Kong (SEHK)
Trading tariff
HK$0.50/transaction
Stock Exchange of Hong Kong (SEHK)
Note: The information provided is accurate as of 26 July 2022. Subject to changes at Webull’s discretion and 7% GST as levied by the Singapore government.
Financing interest rate
Items
Tier
Annual interest rate
HK$
0 to 500,000
0%
HK$
Above 500,000
4.50%
Note: The information provided is accurate as of 26 July 2022. Subject to changes at Webull’s discretion and 7% GST as levied by the Singapore government.
What are the pros and cons of using Webull?
Pros
Zero commission. Enjoy commission-free trading for US and HK-listed stocks, ETFs and options. Webull also doesn’t charge any commission, platform or membership fees.
Ability to trade fractional shares. Own shares based on the dollar amount you wish to invest instead of having to own an entire share.
Fast account opening process. Opening a Webull account with SingPass is quick and hassle-free. Accounts are typically approved and expected to be ready within 24 hours.
Cons
Limited financial products. Common asset classes such as mutual funds, futures, forex and bonds are not supported.
No cryptocurrency support. Webull does not offer any crypto trading services for users in Singapore.
Not-so-competitive exchange rates. Webull’s exchange rates are slightly lower compared to its competitors, making it less attractive for active traders with high volume trade.
How do I apply for a Webull account?
You can open a Webull account easily through the Webull app. If you have access to SingPass, simply select this option to retrieve all the required information quickly.
Alternatively, you may also complete an in-app application manually, which will require you to provide your identification documents and proof of residential address.
How to fund your account
Webull offers a number of ways to fund your stock trading account:
Electronic Direct Debit Authorisation (eDDA)
Fast And Secure Transfer (FAST)
Telegraphic Transfer (TT)
The registered name of the bank account holder and Webull account holder must be the same for all deposits and withdrawals. Be aware that due to anti-money laundering regulations, funding from joint accounts or third-party payment platforms will not be accepted by Webull.
How do I contact support?
Webull has a comprehensive help section on its website that features a long list of frequently asked questions and answers. However, if you need to speak to a representative, you may contact Webull directly through the following contact details:
Phone: +65 6013 3322
In-app support: Access Webull’s help centre directly from the Webull app
We update our data regularly, but information can change between updates. Confirm details with the provider you're interested in before making a decision.
Webull doesn’t have a web-based or desktop trading platform, so users are currently limited to the mobile app.
There is no minimum deposit required by Webull, making it an ideal broker for those looking to trade or invest with a smaller amount.
Unfortunately, Webull does not support any transfer-in or transfer-out of shares at the moment.
Disclaimer: This information should not be interpreted as an endorsement of futures, stocks, ETFs, CFDs, options or any specific provider, service or offering. It should not be relied upon as investment advice or construed as providing recommendations of any kind. Futures, stocks, ETFs and options trading involves substantial risk of loss and therefore are not appropriate for all investors. Trading CFDs and forex on leverage comes with a higher risk of losing money rapidly. Past performance is not an indication of future results. Consider your own circumstances, and obtain your own advice, before making any trades.
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