Webull expands into APAC region via Singapore operation

Webull has previously expanded to Hong Kong, with a license from HK’s Securities and Futures Commission

Webull has announced the launch of its Singapore business as the US-based trading platform enters the Asia-Pacific region. Having introduced the app to local residents in May, the firm is now open to users in the APAC region.

The Singapore subsidiary of Webull offers access to U.S.-listed equities, ETFs, options, and fractional shares, as well as Hong Kong-listed equities and ETFs, through the Webull app.

Besides low commissions, Webull offers access to a news feed, industry data, and educational materials to provide investors with the tools needed to make informed investment decisions.

Having secured its capital markets services license from the Monetary Authority of Singapore in November 2021, Webull Singapore has been offering access to its platform to local residents since May.

Bernard Teo, the Chief Executive Officer of Webull Singapore, said: “We are excited to bring Webull’s platform to Singapore’s tech-savvy investment community. Webull has enjoyed considerable success in the United States and Hong Kong, and we plan to carry that momentum into Singapore and beyond. There is a significant opportunity in the Asia-Pacific region for mobile-first brokerages that have the advanced technology to meet the demands of a new generation of investors. Starting in Singapore, we plan to capture this market opportunity.”

The SEC-registered broker-dealer and FINRA member subsidiary of Webull was launched in the United States in 2018. The trading platform’s offering includes cryptocurrencies through an arrangement with Apex Crypto LLC.

Webull has previously expanded to Hong Kong, with a license from HK’s Securities and Futures Commission

The platform is now offering SPIKES Options, traded on the SPIKES Volatility Index, which is a measure of the expected 30-day volatility in the SPDR S&P 500 ETF (SPY). SPIKES Options are cash-settled with monthly expirations. By expanding its offering to include SPIKES Options, individual traders now have greater access to trading volatility.

Anthony Denier, CEO of Webull, said: “Diversification is important for our clients and we want to be able to offer a comprehensive suite of investment products across our platform. Providing access to SPIKES Options through the Webull platform is another example of how we are bringing innovative products to individual traders that have traditionally only been accessible to institutional market participants.”

Thomas P. Gallagher, Chairman and CEO of Miami International Holdings, said: “MIH is committed to providing innovative products and solutions to the derivatives marketplace. We are excited to be working with Webull to make volatility products more accessible to the end user. With the launch of SPIKES Options on Webull’s platform, Webull customers around the world now have a choice when it comes to trading U.S. equity volatility products, as SPIKES Options offer the ability to directly trade volatility on SPY, the largest ETF in the world.”