Webull

Webull (NASDAQ: BULL) is a St. Petersburg, Florida-based digital multi-asset broker founded in 2017. Licensed by the SEC, FINRA, FCA, ASIC, MAS, JFSA, and SFC across 14 markets, it runs proprietary platforms with cash, margin, IRA, and futures accounts. The broker serves retail clients trading US, Hong Kong, UK, Japanese, and Australian equities, plus ETFs, options, futures, and cryptocurrencies.

Webull's FINRA registration shows as active under CRD 289063 on the public BrokerCheck register as of May 2026. Customer accounts at the US entity carry Securities Investor Protection Corporation (SIPC) coverage up to $500,000 (with a $250,000 cash sublimit). The broker requires no minimum deposit to open a US account. US margin accounts apply standard regulator-set ratios: 4:1 day-trading buying power and 2:1 overnight. Webull's parent corporation completed a NASDAQ listing on April 11, 2025, through a merger with SK Growth Opportunities Corporation. Reported customer assets reached $24.6 billion at year-end 2025, per the Form 20-F filing. The broker now serves 25 million registered users across 14 licensed markets.

What is Webull?

Webull is a digital broker operated by Webull Financial LLC, a Delaware-registered broker-dealer established on May 24, 2017. The platform launched retail trading in May 2018 after gaining FINRA membership in January 2018. Webull Financial sits inside Webull Corporation, a Cayman Islands holding company that listed on NASDAQ under ticker BULL on April 11, 2025. The group operates licensed brokerages in 14 markets including the US, UK, Australia, Singapore, Hong Kong, Japan, and South Africa. Anthony Denier serves as Group President and US CEO, with Wang Anquan as founder and chair. The corporate office is at 200 Carillon Parkway, St. Petersburg, FL 33716, with a secondary office at 44 Wall Street, New York.

Which regulators license Webull?

Webull operates through eight licensed regulatory entities across major financial jurisdictions. The US arm, Webull Financial LLC, is registered with the SEC as a broker-dealer and joined FINRA in January 2018 (CRD 289063). The firm holds memberships at NYSE, NASDAQ, Cboe EDGX Exchange, and SIPC. In the UK, Webull Securities (UK) Limited has been authorized by the FCA (Financial Conduct Authority) since October 25, 2022 under FRN 961286. In Australia, Webull Securities (Australia) Pty Ltd holds an Australian Financial Services Licence (AFSL) 536980 issued by the ASIC (Australian Securities and Investments Commission). Webull Securities (Singapore) Pte Ltd holds a Capital Markets Services Licence under the MAS (Monetary Authority of Singapore) with UEN 202116981M. Webull Securities Limited operates in Hong Kong under the SFC (Securities and Futures Commission) with CE No. BNG700, covering Type 1, 2, and 4 regulated activities. Webull Securities (Japan) Co Ltd is registered with the JFSA (Japan Financial Services Agency) as Kanto Local Finance Bureau (Kinsho) No. 48. Webull's South African entity is licensed by the FSCA (Financial Sector Conduct Authority).

Public records show four disclosed regulatory events involving Webull Financial. In February 2023, FINRA imposed a $3 million fine for due-diligence failures in options-trading approval (source: FINRA AWC No. 2021070581401). In November 2023, the Massachusetts Securities Division ordered a censure plus $500,000 settlement. In November 2024, the SEC imposed a $125,000 civil penalty over deficient suspicious activity reports filed between 2018 and 2022 (source: SEC press release, November 22, 2024). In May 2025, FINRA fined the firm $1.6 million for inadequate supervision of paid social-media influencers and Form CRS delivery failures (source: FINRA, May 9, 2025). The firm's licenses remain active across all eight jurisdictions, and no regulator has revoked or suspended its registration.

What trading platforms does Webull offer?

Webull runs three connected proprietary platforms instead of MT4 or MT5. The Webull Desktop is a customizable Windows and macOS application built for active multi-monitor trading. Webull Web works in a browser without download. The Webull mobile app supports iOS and Android with full charting, order entry, and account management. The platform integrates with TradingView for chart-based order routing on US futures contracts. Free unlimited paper trading is available across all three surfaces, with no time or balance cap. The broker does not support MT4, MT5, or cTrader.

What account types does Webull offer?

Webull's US entity offers ten account types covering active trading and retirement. Cash and Margin accounts handle stocks, ETFs, and options. Retirement options include Traditional IRA, Roth IRA, and Rollover IRA, all with no annual fees. The broker added a separate Futures account in April 2024. Webull Smart Advisor is the firm's robo-advisory service, managed in partnership with State Street Global Advisors. Cash Management offers an FDIC pass-through interest sweep. Webull does not currently offer trust accounts, custodial accounts (UTMA/UGMA), 529 plans, or SEP IRAs. The UK entity launched a flexible Stocks and Shares ISA in early 2026.

What is Webull's minimum deposit?

Webull's US accounts have no minimum deposit. Margin accounts require a $2,000 equity floor to enable margin lending under Regulation T. Pattern Day Trading, defined by FINRA as four or more day trades in five business days, requires a $25,000 equity floor. The Webull Smart Advisor robo-account opens at $5. Futures accounts require $2,000 to start trading. International entities follow local rules: Webull UK and Webull Singapore both open accounts with no minimum.

Deposit and withdrawal methods

Webull's US accounts accept ACH transfer (free), domestic wire ($8 deposit, $25 withdrawal), and check deposit. International wire transfers cost $12.50 to deposit and $45 to withdraw. ACH funds typically settle in 1 to 5 business days. Webull does not accept credit cards, PayPal, Skrill, Neteller, or cryptocurrency deposits. Account transfers to other brokers via the Automated Customer Account Transfer Service (ACATS) carry a $75 fee for full or partial transfers. Webull UK uses Faster Payments; Webull Singapore uses FAST and eDDA; Webull Australia accepts PayTo for instant deposits.

Tradeable instruments

Webull is not a forex broker; it offers no spot forex pairs. The US platform covers stocks, ETFs, equity options, US Treasury bonds, futures (added April 2024), and cryptocurrencies (relaunched in 2025 with Bitcoin, Ethereum, and four others). The Australian entity adds CHESS-sponsored ASX equities, Hong Kong equities, and China A-shares. The Hong Kong entity offers SEHK-listed securities and futures contracts. Webull Singapore covers SGX-listed equities, REITs, ETFs, warrants, and DLCs. The UK entity offers US-listed equities, fractional shares, and London Stock Exchange-listed shares. Mutual funds and individual non-Treasury bonds are not offered.

Spread and commission structure

Webull operates on a commission-free model for most US instruments rather than a spread-based forex pricing scheme. Stocks, ETFs, and equity options carry $0 commission per trade. Index options (such as SPX, NDX, RUT) charge $0.55 per contract plus pass-through exchange fees. Futures cost $1.25 per contract per side, plus exchange and clearing fees. Treasury bonds carry a 0.10% markup per bond. Cryptocurrency trades include a built-in spread, with the specific markup not publicly disclosed. The broker also earns through payment for order flow (PFOF), margin interest, securities lending, and interest on uninvested cash.

Leverage and margin requirements

Webull's US margin accounts follow Regulation T, which sets initial margin at 50% (giving 2:1 overnight buying power). Day-trading accounts get 4:1 intraday buying power, subject to FINRA's Pattern Day Trading rule. Futures use exchange-set margin schedules, with intraday rates below overnight rates. Webull does not offer high-leverage forex or Contracts for Difference (CFD). Offshore retail caps such as 1:30 or 1:500 do not apply because the broker does not run those product categories. Margin interest rates run from 4.65% to 9.74%, scaling down by debit-balance size.

How does Webull's customer support work?

Webull's US customer support runs through phone (+1 888 828 0618), email (support@webull.com), and in-app chat. Phone support operates Monday to Friday during US market hours. Reported phone hold times have drawn consistent complaints, reflected in a 1.3/5 user-aggregate rating from 365 reviews (scan date 2026-05-08). International entities run separate support channels in local hours. The 24/7 in-app help center handles FAQs and basic account issues without a live agent. Webull does not offer chat with a dedicated account manager unless the client meets institutional thresholds.

Webull mobile app and trading experience

Webull's mobile app handles full account onboarding, order entry, charting, and market data on iOS and Android. Apple App Store ratings sit near 4.7/5; Google Play near 4.4/5. The app supports more than 50 technical indicators and customizable charts. Real-time Level 1 quotes are free for funded accounts. Level 2 (Nasdaq TotalView) and OPRA real-time data require a Webull Premium subscription at $40 per year. Push notifications cover price alerts, earnings releases, and order fills. The mobile, web, and desktop platforms share state in real time, so trades sync across devices.

Who is Webull best for?

Webull's profile suits self-directed retail traders who prioritize cost over breadth. The zero-commission model on US stocks and equity options matches the cost floor in the discount-broker tier. Margin rates from 4.65% sit among the lowest available to retail accounts. Multi-jurisdictional licensing through eight regulators places the broker in the upper Tier-1 band. Recent enforcement history reflects four settlement actions in five years totaling roughly $5.2 million, all resolved without admitting findings and without license action. Traders who require mutual funds, comprehensive forex, or full international stock-market access will hit product gaps. Active US options and futures traders, IRA savers, and mobile-first investors fit the broker's product depth.

Forex and derivative products carry high leverage, and some or all invested capital may be lost. This content is for information only, not investment advice. Verify Webull's current regulation status with the relevant authority's official site before any investment decision.