As of 31st July 2024, Webull has achieved a remarkable year-over-year (YoY) growth rate of 100% in its assets under management (AUM) within the APAC region, the US-headquartered global discount broker announced.
To mark this achievement, Webull President Anthony Denier visited the company’s Asia Pacific offices to celebrate the success and underscore its ongoing commitment to expanding its footprint in the region.
Building on Webull’s success in the U.S. market, Webull entered Hong Kong SAR in 2020, followed by expansions into Singapore and Australia in 2022. In 2023, Webull entered Japan and Indonesia, and most recently in 2024, Malaysia and Thailand.
“We are incredibly proud of Webull’s rapid expansion in the APAC region”
“We are incredibly proud of Webull’s rapid expansion in the APAC region. Since we entered APAC in 2020, we have seen a steady increase in our user base, with investors leveraging Webull’s trading tools to develop comprehensive and diversified investment portfolios across the U.S. and APAC markets. In the next two years, Webull aims to be a top broker-dealer in every region, and we remain committed to developing innovative solutions that will allow us to grow significantly while ensuring trading remains accessible and affordable for all retail investors,” said Webull President Anthony Denier.
Jonathan Man, Chief Executive Officer of Webull Singapore, commented: “Since we entered the Singapore market in 2022, we have witnessed a strong uptrend in our user base within a short two-year span. Investors in Singapore continue to seek attractive yields for their investments and Webull Singapore will strive to develop better, more innovative products and tools that will cater to the evolving needs of Singapore investors.”
Webull boasts over 20 million registered users globally
Launched in the U.S. in 2018, Webull has expanded to the APAC region, Europe, Africa, and Latin America, with over 40 million downloads and more than 20 million registered users globally.
In 2023, customer assets grew by 38% year-over-year, reaching US$8.2 billion. The platform saw US$371 billion in U.S. equity notional trading volume and 430 million options contracts traded during the year. Webull’s user retention rate hit 98% in Q4 2023, reflecting a strong user experience and trust in the platform.
As one of the leading digital brokerages in the U.S., Webull is expanding its presence across 13 global markets. Its U.S. foundation serves as a gateway for investors in APAC to access the U.S. market. Webull aims to empower investors with the tools and knowledge to navigate the financial markets, making it a trusted choice for local investors.
Since its 2022 launch, Webull Singapore has seen a surge in user signups, reflecting its growing popularity. Webull introduced overnight U.S. stock trading, allowing Singapore-based investors to trade U.S. stocks and ETFs regardless of time zones. In January, Webull Singapore added SGX-listed stocks, REITs, DLCs, and ETFs, offering local investors access to over 1,000 securities. For risk-averse investors, Webull Singapore provides 430 mutual funds and wealth management tools like Moneybull and a Regular Savings Plan.
Webull continues to lead in Singapore’s digital brokerage space by offering low commission fees with no platform fees for U.S., Hong Kong, and A-shares trading. For Singapore stocks and ETFs, it charges a commission of 0.025% with a minimum of SGD 0.80, alongside a 3-year commission-free campaign for local stock trading. Webull also provides advanced trading tools and level 2 U.S. market data to help investors make informed decisions.
