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Webull Singapore Review (2023): The investing platform to recharge your wealth journey?

Alevin Chan

Alevin Chan

Last updated 01 March, 2023

Was “Grow my Wealth” or “Start Investing” on your 2022 list of financial goals? No matter which stage of investing you’re at, Webull Singapore is here to help you get to the next level.

A new online brokerage has come charging onto the investing scene. Webull, a popular online broker in the US that has won several awards, has set its sights on Singapore and the region with its latest foray – Webull Singapore. 

The digital trading platform was registered with the Monetary Authority of Singapore in 2021 and holds a Capital Markets Services (CMS) Licence, which should assuage any concerns around legitimacy that you may have over its status as a new player on the market. 

The platform currently offers access to the US and Hong Kong markets, with more markets expected to be added in time. 

Is Webull the best new platform for your trading and investment needs? Read on to find out. 


SingSaver Exclusive Promotion: Get S$100 upsized cash via PayNow and a chance to win a Dyson Micro (worth S$599) when you open a Webull account and fund at least S$100 within 30 days of account opening. Valid till 31 May 2023. T&Cs apply.

Also, receive 5 free shares worth up to USD 500 and 0-commission trades, and a chance to win TSLA shares worth up to USD 888 and a Tesla Model 3 when you fund and maintain any amount in your Webull account. T&Cs apply.

Overview of Webull Singapore

Product Summary

  • What you can invest in: US-listed stocks, ETFs and options, HK-listed stocks and options
  • Minimum balance required: None, but at least S$2,000 needs to be deposited to qualify for welcome rewards*
  • Fees: zero commissions* and zero platform fees*, zero interest* for margin financing (up to USD50,000, HKD500,000)
  • Withdrawal fees: none
  • Deposit fees: none
  • Inactivity fee: none
  • Licence: Capital Markets Services (CMS) Licence – Monetary Authority of Singapore

Pros and cons of Webull Singapore



Zero commissions* and zero platform fees*

Only US and HK markets

Offers fractional shares trading on the US market from only USD5*

Limited range of products at present – stocks, ETFs and options only. More products such as Funds will be made available soon.

Near instantaneous account funding with FAST and eDDA

Can only short-sell US stock at the moment

Full extended hours trading, including pre-market and after hours


Why trade with Webull Singapore?

#1. Possibly Singapore’s lowest-cost online brokerage

Webull Singapore is determined to carve out a niche for itself in the crowded online brokerage space here.

To that end, it has done away with fees in three important ways – zero commissions*, zero platform fees*, and zero interest* for margin financing (up to stipulated limits).

As long as Webull continues to suppress these fees, they are the lowest-cost brokerage in Singapore – at least at face value. Investors should take note that charges may be adjusted and changed. For details, please check the official website.

To find out if they are absolutely the lowest-cost broker for you, do a test by executing the same trade across this and a few other platforms, and compare the results.

#2. Supports fractional shares trading from USD5*

Webull supports fractional shares trading from as low as USD5* per fractional share. Fractional shares trading is beneficial to traders and investors as it allows you to own high-priced shares even if you do not have a large capital. 

This feature is presently available for US-listed stocks and ETFs on the platform, but we expect this will be extended to other markets in time. 

Note that you can only purchase fractional shares using market orders and spot trades during trading hours. All other types of trades, as well as after-hours trades, are currently not supported for fractional shares trading.

#3. Trade leading stocks and ETFs from around the world

Webull’s selection of products and markets may not be as extensive as some of those of more established brokers, but this isn’t necessarily an issue. The platform allows access to United States and Hong Kong stock markets, which should offer plentiful choices for most regular investors. 

You will be able to access most of the  popular stocks and funds, including ETFs and REITs in the US and HK stock markets, which should serve you well in constructing a robust investment portfolio. 

Besides conventional buying and selling, Webull also offers options trading for those pursuing more advanced trading strategies. However, this feature is currently limited to selected markets only. 

For whom is Webull Singapore best suited?

Webull’s proposition is a straightforward one. Access one of the lowest-cost online brokers in the market, and trade popular stocks and funds (to be made available soon). If you are looking to trade in the US and HK markets, Webull Singapore might be a good option for those with more basic trading or investing needs. 

Having said that, do be aware that the current zero-fee structure is not set in stone. There is a strong possibility that the platform will start introducing fees sometime down the road; this is to be expected, as every brokerage needs to generate revenue in one way or another, whether this is through trading commissions, high spreads, or other channels. 

What charges or fees should you look out for?

At present, Webull is not charging any fees or commissions for trading on its platform. Nor are there any fees for deposits or withdrawals. Whether this structure will persist for the long term remains to be seen. 

However, trading on Webull isn’t completely free of charge. Your trades will be subject to prevailing fees levied by various regulatory bodies, including GST in Singapore. There may also be bank handling fees, depending on the method you choose for depositing or withdrawing your funds.

Of course, savvier traders will know to watch out for high spreads, which is how many zero-commission brokers make their money. However, zero-commission brokers are required to perform the best execution obligations to ensure that the transaction price is the best among multiple order endpoints.

Also read: Brokerage Fees And Other ‘Hidden Fees’ To Know When Investing In Singapore

What promotions are available for Webull Singapore?

627-627Welcome rewards up to USD150 cash voucher*

  • Fund and maintain your initial funding of at least S$2000, make at least 1 buy trade of US stocks or ETFs and 1 buy trade of Options in US market to receive a USD150 cash voucher.
  • The buy trades must be made within 30 days of funding your account.
  • Offer valid till 1 Dec 2022 15:59 SGT.

Commission-free trading

  • Zero-commission* trading on US and HK exchange-listed stocks, ETFs and options (however, fees by other regulatory agencies apply).


SingSaver Exclusive Promotion: Get S$100 upsized cash via PayNow and a chance to win a Dyson Micro (worth S$599) when you open a Webull account and fund at least S$100 within 30 days of account opening. Valid till 31 May 2023. T&Cs apply.

Also, receive 5 free shares worth up to USD 500 and 0-commission trades, and a chance to win TSLA shares worth up to USD 888 and a Tesla Model 3 when you fund and maintain any amount in your Webull account. T&Cs apply.

How do you open and fund your Webull Singapore account?

Opening your Webull account

Sign up to access exclusive Webull Singapore member events and promotions!

To open your Webull account, follow these steps:

  1. Go to Webull’s website and click “Sign Up” at the bottom of the page.
  2. Follow the on-screen instructions to register for a Webull account.
  3. If you have a Singpass account, remember to use it to shorten your registration process. 

Funding your Webull account

You may fund your Webull account using any one of the following methods:

Funding method

Crediting lead time



Within the same day


Electronic Direct Debit Authorisation (eDDA)

Within the same day


Telegraphic Transfer

1 to 3 working days

Bank fees may apply

In addition, take note of the following when funding your account:

  • Deposits must be from your own individual bank account. You may link your bank account using the Webull app.
  • Webull does not charge any deposit fees. However, any fees or charges related to your deposit (charged by banks or transfer agents) shall be borne by you. 

Webull Singapore vs other popular trading platforms

Commission fee

Webull Singapore: 

- USD$0* (US exchange-listed stocks, ETFs, options)

- HKD0* (HK exchange-listed stocks and options)

Tiger Brokers:

- SGX stocks: 0.06% (including platform fee)

- US stocks: US$0.01, min. US$1.99 per trade (including platform fee)

Interactive Brokers (IBKR)

- SGX stocks: 0.08% of trade value, min. S$2.50 per order

- US stocks: US$0.005 per share, min. US$1 per order

TD Ameritrade

- $0 (for US exchange-listed stocks, ETFs and option trades)

moo moo

- SGX stocks: 0.03% of the transaction amount, min. S$0.99

- US stocks: US$0.0049 per share, min. US$0.99 per order

Minimum deposit

Webull Singapore: none but min. S$2,000 is required to receive the welcome reward of up to USD150 cash vouchers.

Tiger Brokers: None, but min. S$2,000 is required to receive a free Starbucks share

Interactive Brokers (IBKR): none

TD Ameritrade: none

moo moo: None, but min. deposit of S$2,700 or US$2,000 or HK$16,000 required to be eligible for sign-up promotion

Maintenance fee

Webull Singapore: none

Tiger Brokers: none

Interactive Brokers (IBKR): none

TD Ameritrade: none

moo moo

- US market: US$0.005 per share, min US$1 per order

- SGX: 0.03% of the transaction amount, min S$1.50

Learning how to trade well can change your life. Growing your wealth independently can lead you to financial independence and even early retirement. 

In short, if you are a fan of US stocks, options trading and high-frequency trading, Webull will be a good choice. If you also like a platform with simple operation and clear functions, a user-friendly app like Webull is just right for you.

*Terms and Conditions apply. For detailed terms and conditions and full disclaimer, please refer to Webull’s website at This advertisement has not been reviewed by the Monetary Authority of Singapore.

 This article is written in collaboration with SingSaver.

An ex-Financial Planner with a curiosity about what makes people tick, Alevin’s mission is to help readers understand the psychology of money. He’s also on an ongoing quest to optimise happiness and enjoyment in his life.


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