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Webull is a new online stock broker in Singapore that allows investors and traders to access the stock market in US and Hong Kong. it is regulated by the Monetary Authority of Singapore (MAS).
Webull offers zero commission fee and zero platform fee for US stocks, exchange traded funds (ETFs) and Options. This certainly stands out among the popular Singapore online brokers such as moomoo, Tiger Brokers, and even ThinkOrSwim (TD Ameritrade), which makes me wonder how sustainable it is for the long run. More to this in the later part.
Thu Jul 7, 2022
In order to compete with other Singapore online brokers, Webull is currently offering USD 100 worth of Apple (AAPL) fractional shares when you open a Webull account. Click the link below and follow the 3 steps as shown to qualify for the Apple free stock promotion by Webull.
Do check out the link above for the detail of Webull promotion as it might change from time to time.
In terms of the fee structure, Webull is certainly the go to broker in Singapore as it does not charge commission or platform fee for US stocks, ETF and even options and also in the Hong Kong market.
You might be wondering how Webull survive without charging. I am curious too so I dig out more information from the its website (US version). It spells out clearly that Webull makes money via stock loans, interest on the deposit balances and order flow. It also implies these are typical in the broking industry.
So far, Webull offers stocks, ETFs, American Depositary Receipts (ADRs) and Options. Mutual funds are coming soon. One thing I love about is the option to own fractional shares in company stocks and ETFs. This is definitely a great news to traders and investors who love to start with a small account.
Imagine if you are new to trade and invest in the US market, it makes perfect sense to start with a small account until you are comfortable.
With fractional shares option, you don’t have to compromise the risk management in a small portfolio to own high price stocks like Alphabet (Google), Tesla (TSLA), Visa (V) or ETFs like SPY, QQQ, etc…
Being able to own fractional shares with Webull stands out among other online brokers in Singapore. This is a huge advantage for trader and investor who would like to start with a small account to experience the US market.
However, futures are not available on Webull. If you are a futures trader like myself, Webull won’t suite your need in terms of futures trading.
Also, crypto currencies trading is not available in Webull Singapore.
So far traders and investors can only access Webull Singapore via the mobile app while a desktop version is not available yet. This is certainly a con for conventional active traders (like myself) who need a desktop to place the orders.
If you are comfortable with placing orders on a mobile app, you are good to go. In fact, Webull mobile app is faster and easier to navigate compared to other online brokers in Singapore.
Since Webull only offers a mobile app, charting capability is limited. For me I always stick to TradingView for analysing the chart no matter what brokers I am using.
Webull offers free Level 1 real-time streaming quotes for shares and a 3-month free subscription to Level 2 quotes. For Option trading, you will only get the free OPRA subscription if you execute at least 1 Options trade every 30 days in your Webull account.
Webull offers pre-market trading and extended hour trading, which is a great advantage if you are outside US because of the different time zone. For example, I can start trading at 4pm in Singapore (GMT +8) instead of waiting for the regular trading hours at 9:30pm.
The account opening process only takes a few minutes once you connect via Singpass. The account opening experience is similar to moomoo and Tiger Brokers, which certainly beats ThinkOrSwim.
In terms of funding, once you connect with your bank account, the transfer is almost instant and is free.
If you are a beginner who are new to the US market, Webull fractional shares will allow you to start small without compromising proper risk management and still maintain a balance portfolio. This is a user-friendly trading platform to start trading or investing in the US market.
If you are an active option trader, you can certainly save some money as you never need to pay commission when trading option. This beats the rest of the online brokers in Singapore.
If you are an active trader, Webull Singapore could be a good fit especially it offers zero commission and zero platform fee, which certainly beats moomoo and Tiger Brokers.
Disclosure: If you click the links in this article and make a purchase or open & deposit the required amount into the recommended broker accounts, we earn a commission at no extra cost to you.