Webull Review: My likes and dislikes of this trading platform

What happened?

With so many brokerage platforms available these days, it can be hard to tell which ones are actually worth your time (and money).

Webull Singapore has been synonymous with trading US stocks. Since launching in Singapore in 2022, Webull has become a strong contender for investors who want access to global markets without high fees.

I’ve been using Webull Singapore to trade US and Hong Kong stocks for some time now, testing out the app and its features.

In this review, I’ll walk you through what I like and dislike about the Webull Singapore platform, from fees and features to the overall user experience.

If you’re looking for a low-cost way to invest in overseas markets and want a platform that feels intuitive yet powerful, read on to find out more.

What I like about Webull Singapore:

• Competitive fees for trading US, Singapore, Hong Kong and China stocks, and US options
• Advanced charting tools that appeal to active and options traders

What I would llke to see on Webull Singapore:

• Access to more markets like the London Stock Exchange

Webull Singapore at a Glance

• Webull Singapore is a low-cost digital stock-trading platform that gives users access to US, Hong Kong, and Singapore stocks and ETFs, as well as US options

• Fees for US stocks: 0.025% commission fee (minimum US$0.50). Free for first month.

• Fees for Singapore stocks: 0.025% commission fee, minimum S$0.80; 0.025% platform fee, minimum S$0.80

What is Webull Singapore?

Webull Singapore entered the local brokerage scene in 2022, building on its popularity in the US where it has become one of the most downloaded trading apps among pure-play brokerages.

Backed by Webull Financial LLC and registered with the Monetary Authority of Singapore, Webull Singapore holds a Capital Markets Services (CMS) Licence. 

Since its launch, Webull Singapore has positioned itself as a digital trading platform aimed at tech-savvy investors who want low-cost access to global markets. 

The platform offers trading in US-listed stocks, ETFs, ADRs, and options; Hong Kong-listed stocks and options; Singapore stocks, REITs, and DLCs; as well as China A-shares.

Webull also stands out for its commission-free trading for US stocks during a promotional period, advanced charting tools, and no minimum deposit requirements, making it appealing to both active traders and beginners looking for a modern interface.

What I like about Webull

#1 – Low cost

One of the biggest draws of Webull Singapore is its low-cost structure, which, for the cost-conscious investors like me, is appealing. 

For US stocks, Webull charges just 0.025% of the total trade amount (minimum US$0.50) and new users can enjoy zero commissions and platform fees for their first month. 

Trading Singapore stocks? You’ll get 1 year of commission-free trades as part of the Welcome promotion. Thereafter, Webull charges a total fee of 0.05% per trade, with a total minimum of S$1.60. The fee for Singapore stocks breaks down to:

• Commission: 0.025% (minimum S$0.80)
• Platform fee: 0.025% (minimum S$0.80)

There are no account maintenance charges, and no minimum funding required to open an account. 

While there are still regulatory fees on sell trades (imposed by the SEC and FINRA), and SGX imposed fees such as clearing, trading and settlement fees, these apply across most brokers and aren’t unique to Webull.

Currency exchange spreads are something to keep in mind. Webull’s FX spread was around 0.3% (as at September 2022). but overall, its pricing remains one of the most competitive in the market. 

#2 – Advanced charting features

It’s always insightful to hear what a company’s leadership believes sets its product apart. 

In an interview, Webull US CEO Anthony Denier shared that Webull users “tend to use sophisticated analytical tools such as charting and backtesting to decide when to enter and exit their trades.”

If you're someone who relies heavily on technical analysis, Webull Singapore could be a strong fit. 

The platform offers a suite of advanced yet intuitive charting tools designed for active traders. 

As part of its welcome promotion, Webull also provides free access to Level 2 market data for US stocks and Level 1 data for Singapore stocks.

#3 – Options trading

When we checked some of the reviews on Reddit, most the comments revolved around how users in the US liked the options trading function. 

It’s no wonder that Webull was awarded the best broker by Investopedia for low-cost options trading.

You’d be able to customize the option chain as well as get single leg option charts and real time charts. 

By combining competitive commission* and charting features, Webull has won fans amongst option traders. 

What did the option traders not like about Webull? It does not have a screener to identify specific option trade opportunities. It doesn’t support certain option strategies if you are using the cash account. 

Here’s a warning though - Options trading involves significant risk and is not suitable for all investors as you may be exposed to potentially rapid and substantial losses. 

#4 – Offers US fractional shares from just US$5

Webull Singapore makes it easier for investors to get started in the US market with fractional shares trading, available from as little as US$5. 

This means you can own a slice of high-priced stocks like Amazon or Tesla without needing to buy a full share.

Fractional trading is currently supported for selected US stocks and ETFs, which are marked with a green diamond icon in the app, making them easy to spot. 

The feature is mobile-exclusive and only available during US regular trading hours.

To place a fractional trade, simply select a supported stock, choose “Market – Fractional Shares Trading Enabled” as the order type, and enter the amount in either shares or USD.

While only market orders are allowed (and short selling isn’t supported), it’s a great option for investors looking to invest smaller amounts or build a diversified portfolio gradually.

#5 – Regular Savings Plan available

Webull Singapore offers Regular Savings Plans (RSPs), making it easy to invest consistently in US stocks, ETFs, and mutual funds—even with a small budget. 

Ideal for long-term investors and dollar-cost averaging strategies, this feature allows you to automate your investments based on your preferred schedule.

There are two types of RSPs available: Fixed Amount and Dynamic Amount. 

Fixed RSPs support US-listed stocks and ETFs, as well as SGD and USD-denominated mutual funds. 

Dynamic RSPs, on the other hand, support US-listed stocks and ETFs only.

You can set up an RSP for any stock or ETF available for fractional trading, which are clearly marked with a green diamond icon on the stock detail page. 

Each security within a portfolio must be eligible for recurring investment, and the green diamond makes them easy to identify.

The minimum investment amount depends on the type of plan and funding method. 

For Fixed RSPs, the minimum is US$5 when using Buying Power, or S$10 when funded via eDDA. 

For Dynamic RSPs, the minimum is US$10 via Buying Power or S$20 via eDDA. 

Mutual funds have varying minimum initial investment amounts, which will be shown at the point of subscription.

Webull also gives you flexibility in how often you want to invest. 

You can choose to invest every trading day (only available for fixed amount investments), weekly, every two weeks, or monthly by selecting your preferred date or day of the week.

Is Webull safe and legit? 

According to Webull, it serves more than 25 million users from over 180 countries. 

But I guess what you really care about, is whether your money is safe with Webull. 

Here, it might be useful to know that Webull Singapore and Webull US are two separate entities under the common ownership of Webull Corporation, a global holding company headquartered in St. Petersburg, Florida, and backed by large private equity funds such as General Atlantic and Coatue.

So while the US entity Webull Financial LLC is a member of the SIPC, which protects securities customers of its members up to $500,000 (including $250,000 for claims for cash), we were not able to verify if this is also offered to customers in Singapore who are clients of Webull Singapore. 

However, what might be helpful to know is that Webull Singapore secured its Capital Markets Services ("CMS") license from the Monetary Authority of Singapore in November 2021.

MAS takes into account the following factors when assessing an application for a CMS licence: 

• Fitness and propriety of the applicant, its shareholders and directors.
• Track record and management expertise of the applicant and its parent company or major shareholders.
• Ability to meet the minimum financial requirements prescribed under the Securities and Futures Act (SFA).
• Strength of internal risk management and compliance systems.
• Business model/ plans and projections and the associated risks.

What I would like to see on Webull Singapore

#1 – Access to more markets

While Webull Singapore already offers access to US, Hong Kong, Singapore, and China A-shares, one key market that’s currently missing is the London Stock Exchange (LSE).

This limits access to popular ETFs like CSPX and VWRA, which are widely favoured by long-term investors for their global exposure and tax efficiency. 

Given the growing demand among Singapore-based investors for these LSE-listed funds, it would be great to see Webull expand its market coverage to include them.

#2 – More educational content

As investors who like to perform analysis before buying into a stock, Webull does not offer us any research reports to help us make more informed decisions. 

It also does not offer advanced portfolio analysis tools.

Webull vs Moomoo Singapore vs Tiger Brokers: How do they compare?  

Webull stands out for having the lowest total fees for trading both US and Singapore stocks. 

For US trades, Webull charges just 0.025% of the order value as a commission fee, with a minimum of US$0.50 per trade. 

For small trades of below US$2,000, the total fees would be lower than Moomoo’s flat US$0.99 platform fee and Tiger Brokers’ US$0.01 per share fee, capped at 1% of order value, with a US$1.99 minimum. 

New users of Webull get 1 month free US trades by participating in the welcome promotion.

When it comes to Singapore-listed stocks, Webull also comes out ahead with a total fee of 0.05% of the order value, or a minimum of S$1.60. 

In comparison, Moomoo charges a total of 0.06% (0.03% commission + 0.03% platform fee), with a minimum of S$1.98 per trade, while Tiger charges a similar 0.06% (0.03% commission + 0.03% platform fee) with a slightly higher minimum of S$1.99.

What would Beansprout do?

Webull Singapore is one of our top choices if you’re looking for a low cost broker which gives you access to the US, Singapore, and Hong Kong stock market.

What I really like about Webull are the low commissions for US, Singapore, Hong Kong stocks, as well as US options. It also offers advanced charting tools for active and options traders. 

However, I would love to see Webull offer trading on the London Stock Exchange, as well as more educational resources. 

Webull offers an attractive sign-up promotion, which is a bonus for new users who are looking to try out the brokerage platform.

Step-by-step guide to signing up for a Webull Singapore account

Step 1: Register for a new Webull account

Click here to register a new account

After clicking “Get Rewards Now” you will be directed to registration page.

Here are what you'll need to do next

• Key in your phone number
• Select “Send Code” and you will receive a code via SMS
• Key in the code sent to you
• Read and agree to the Terms & Conditions & Privacy Policy

Step 2: Set up your new Webull account

Next, you can set up your account after successfully registering for a new account. 

• Download Webull App from the link provided

• Login using your mobile number and select “Open Account” 

• Fill in your personal particulars. You may select to link your Singpass account.

After submitting your details, you will have to wait for approval for your account to be set up. 

Step 3: Fund 

After your account is approved, it’s time to make a deposit. Inside Webull app, select “Webull” tab at the center bottom of the screen.

There are a few ways to make a deposit: eDDA, Fast or Telegraphic Transfer. 

Webull recommends the eDDA Deposit method, where you will authorise Webull to transfer money from your bank account into your Webull account. To use this method, you can select the “eDDA Deposit” option, log in to your internet banking account, and set the transfer limit. 

If you'd prefer to manually transfer funds from your bank account, then you can use the FAST method. However, do note that this option is applicable only for SGD deposits, and you'll need to remember to notify Webull that the transfer has been completed. 

 *Net Cumulative Deposit = Accumulated deposit amount – Accumulated withdrawal amount, capital gains & losses are excluded. 

*Terms & Conditions apply. 

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