Webull

Webull offers an online platform for commission-free, real-time trading of stocks, ETFs, options, American Depositary Receipts (ADRs), and cryptocurrency, with no minimum account balances or inactivity fees and margin trading for accounts with a minimum balance of USD 2,000. Users can trade over 5,000 US stocks and ETFs, as well as 11 cryptocurrencies, including Bitcoin, Ethereum, and Litecoin. Users can also invest in fractional shares with a minimum of USD 5. The platform also offers traditional, Roth, and rollover individual retirement accounts (IRAs) in addition to individual brokerage accounts. In June 2023, the company added over 4,000 stocks, ETFs, and ETNs listed on the Tokyo Stock Exchange (Prime, Standard, and Growth markets) onto its platform. In February 2024, WeBull launched in Brazil with plans to offer customized product offerings. In March 2024, the company launched futures and commodities trading in the US and cash management solution in Canada.

The platform is monetized through payments on order flow from market makers and exchanges; wire transfer fees between USD 8–40; charges of USD 2–5 on paper statements; and margin rates of 3.99–6.99% based on the account balance. Transferring stocks from Webull costs USD 75. Webull also generates revenue through its stock lending program and interest on cash balances in traders’ accounts. As of March 2024, WeBull had over 20 million registered users out of which 4.3 million were funded accounts. The platform also recorded nearly USD 8.2 billion in assets under management.

WeBull entered a definitive business combination agreement in February 2024 with SK Growth Opportunities Corporation (NASDAQ: SKGR), a publicly traded special purpose acquisition company, to be listed on Nasdaq under a new ticker symbol. The proposed transaction, subject to regulatory and shareholder approvals, has an implied pro forma enterprise value of approximately USD7.3 billion and the combined company will retain its name as "Webull Corporation."

In November 2023, Webull acquired Flink, a Mexico-based online trading platform, through an all-stock transaction. Webull planned to utilize Flink’s existing customer base and presence in Mexico to enter the Mexican market.

Key customers and partnerships

In July 2024, WeBull partnered with Apex Fintech, a financial technology provider for clearing, custody, and advisory services, and Moment, a fixed income trading technology provider, to allow retail investors to trade fixed income securities in the US with plans to expand globally.