Webull

Webull Financial LLC, commonly known as Webull, is a financial services company that was established in 2017,[4][5] with headquarters on Wall Street in New York City.[6] Being mobile-first, Webull offers commission-free[7] trading of stocks, ETFs and options.[8]

Webull
TypePrivate
Founded2017
FoundersWang Anquan[1]
Headquarters
New York, USA
Key people
Anthony Denier(CEO)[2]
ProductsWebull app
ServicesStockbroker, trading platform
ParentAlibaba Group[3]
Websitewww.webull.com

Webull is a member of SIPC and a registered brokerage dealer with the Securities and Exchange Commission.[9] Additionally Webull is a member of the Financial Industry Regulatory Authority, the NYSE, and NASDAQ.[10]

By the end of August 2020, its total registered users exceeded 11 million.[11] In November 2020, Webull began supporting cryptocurrency transactions.[12]

On January 28, 2021, Webull halted buy orders for stocks affected by the GameStop short squeeze,[13] and soon thereafter allowed orders to continue.[14]

History

In 2017, Webull was founded as a Chinese-owned enterprise by Wang Anquan,[15] a former employee of Alibaba Group.[16] In May 2020, it received SEC approval to launch a robo-advisor.[17]

As of October 2020, it approximately had 750,000 daily active users. [18] Throughout 2020, Webull increased its roster of brokerage users about tenfold, to over 2 million. [19]

References
  1. Massa, Annie (December 10, 2020). "Webull is winning over traders from US rival". Australian Financial Review.
  2. Anthony Noto (August 22, 2019). "NO BULL! Broker-dealer Webull says commission-free is the way to be". New York Business Journal.
  3. Massa, Annie (December 8, 2020). "Robinhood Is Losing Thousands of Traders to a China-Owned Rival". Bloomberg News.
  4. "GameStop, AMC Trades to Resume at Chinese Online Brokers". Bloomberg.com. January 29, 2021. Retrieved January 31, 2021.
  5. "Does Robinhood Make It Too Easy to Trade? From Free Stocks to Confetti". The Wall Street Journal. August 20, 2020.
  6. Ellen Chang (August 19, 2020). "Why Investors Could Add Some Active Investing to a Portfolio". WTOP News. Originally appeared on U.S. News & World Report.
  7. Chris Dier-Scalise (October 4, 2019). "Got A Portfolio That Can't Be Beat? Webull Will Give You A Tesla Or Pay Down Your Student Loans If You Prove It". Yahoo Finance.
  8. Matt Frankel (December 1, 2020). "Investing Apps That Let You Invest For Free". The Motley Fool.
  9. "SIPC - List of Members: WEBULL FINANCIAL LLC". www.sipc.org. Retrieved January 31, 2021.
  10. "WEBULL FINANCIAL LLC CRD#: 289063". brokercheck.finra.org. Retrieved January 31, 2021.
  11. Michael Graw."Commission-free brokerage Webull launches desktop platform". TechRadar. August 20, 2020.
  12. Paul Vigna."Bitcoin Tops $20,000 for First Time - WSJ". The Wall Street Journal. Dec 16, 2020.
  13. Crowley, James (January 28, 2021). "Webull follows Robinhood in blocking GameStop, AMC trades after being suggested as alternate trading platform". Newsweek.
  14. "UPDATE: GME, AMC, and KOSS are no longer restricted". Twitter. January 28, 2020.
  15. Sarah Perez (December 12, 2020). "This Week in Apps: Apple scolds adtech, Facebook hit with antitrust suits, Twitter buys Squad". TechCrunch.
  16. Massa, Annie (December 8, 2020). "Robinhood Is Losing Thousands of Traders to a China-Owned Rival". Bloomberg News.
  17. Renato Capelj (May 6, 2020). "Webull Leverages Crisis To Spur Innovation, Financial Wellness". MarketWatch.
  18. Alexander Osipovich (October 16, 2020). "Individual-Investing Boom Fuels Trading in Low-Price Stocks". The Wall Street Journal.
  19. "Robinhood's Unexpected New Rival". Magzter. August 19, 2020. Originally appeared on Bloomberg Businessweek.


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