From timeline to trade. There’s crypto on Webull too. https://t.co/puWLB4KCtf
Webull
Retail brokerage and trading platform regulated by the SEC and FINRA with over 4.3M funded accounts
3.5/ 5
Our score
Good
Maker fee
0%
Taker fee
0%
KYC required
Yes
Accepts US customers
Yes
What is Webull?
Webull is a multi-asset electronic trading platform and brokerage founded in 2016, providing commission-free trading across equities, options, and ETFs. Cryptocurrency trading is accessible to users through integration with the dedicated Webull Pay application.
Corporate background and ownership
Webull Corporation is headquartered in St. Petersburg, Florida, and is publicly listed on NASDAQ under the ticker BULL following an April 2025 SPAC merger. The firm was founded by Chairman and CEO Wang Anquan, a former engineer at Alibaba Group and Xiaomi. Its early institutional backers include Xiaomi, Shunwei Capital, Lightspeed Venture Partners, General Atlantic, and Coatue Management. As of December 2025, Webull subsidiary Hunan Weibu Information Technology employed 863 people in China, representing approximately 62% of the company's global staff.
Trading mechanics and asset access
Trading operates primarily through Webull Financial LLC, a registered US broker-dealer clearing through Apex Clearing Corp. Users execute orders via mobile, desktop, or web applications, as well as an automated developer API suite. Crypto trading is handled through dedicated accounts linked to Webull Pay. Standard brokerage accounts have up to $500,000 in SIPC protection, and Apex Clearing has purchased additional insurance with aggregate coverage up to $150 million.
Fees and global availability
Webull offers zero-commission trading on standard US equities and options, though regulatory and exchange fees still apply where relevant. Full identity verification through KYC documentation is mandatory before opening an account. Brokerage operations span several jurisdictions, supported by regulatory authorizations from the SEC and FINRA in the United States, the Financial Conduct Authority in the United Kingdom, and the AFM in the Netherlands.
Regulatory track record and past incidents
Webull recorded $8.2B in customer assets across 4.3 million funded accounts as of December 2023. In January 2021, Webull temporarily restricted buy orders on selected equities during the GameStop short squeeze following directives from its clearing house. FINRA fined Webull Financial $3 million in March 2023 over customer approval processes for options accounts and complaint handling, followed by a $500,000 fine from Massachusetts regulators in November 2023. In December 2025, litigation emerged regarding unauthorized third-party account takeovers tied to penny stock market manipulation.
Founders
Wang AnquanFounder, Chairman and CEO
Former engineer at Alibaba Group and Xiaomi.
Best for:US multi-asset retail tradersActive options and equity investorsAlgorithmic traders needing broker APIs
Pros and cons
Pros
- Zero-commission trading for US stocks, exchange-traded funds, and options
- Regulated by the SEC and FINRA with SIPC-insured securities accounts
- Extended-hours trading available across pre-market and after-hours sessions
- Includes paper trading and direct API access for automated orders
Cons
- Cryptocurrency trades require a separate Webull Pay account
- Fined $3 million by FINRA in March 2023 regarding options compliance
- Mandatory KYC identity verification for all account holders
Our review
3.5/5
Good
Webull delivers commission-free trading and advanced technical charting across traditional securities, but routes crypto through a separate Webull Pay app through a separate Webull Pay app.
Webull Corporation operates an electronic retail brokerage founded in 2016 by Wang Anquan, an engineer formerly with Alibaba and Xiaomi. Headquartered in St. Petersburg, Florida, the holding company trades publicly on NASDAQ under the ticker BULL following an April 2025 SPAC transaction. Brokerage activity in the United States runs through Webull Financial LLC, which is registered with the SEC and FINRA, with securities cleared via Apex Clearing Corp. In June 2023, Webull split off its digital asset trading from the core brokerage interface into a dedicated Webull Pay application, requiring users to hold separate accounts for token transactions.
The platform offers advanced charting, Level 2 market quotes, extended-hours equities and options execution, and zero-commission trading on standard stocks and ETFs. It also offers paper trading and IRA retirement accounts. However, Webull is fundamentally a regulated multi-asset brokerage rather than a native crypto exchange. Traders looking for pure crypto infrastructure face critical trade-offs:
- Crypto trades run through Webull Pay rather than the main brokerage interface.
- Regulators have penalized the firm for oversight gaps, including a $3 million FINRA fine in March 2023 over options approvals and a $500,000 Massachusetts penalty in November 2023.
- Law firms alleged in late 2025 that unauthorized third parties accessed customer accounts and used liquidated balances to buy shares of Ten-League International Holdings.
Webull combines traditional securities trading with crypto access through Webull Pay.
Sources (6)
- Invest Confidently with Webull - Stocks, Options, ETFs
- Get Answers Fast - Online Service Support & Solutions - Webull Help
- Webull Developers - Build with One API AI-Native Trading
- Learn How to Invest: Webull Financial Education
- About Webull - Innovating Finance with Technology & Trust
- Tax Document Availability - Webull
Specs
| Markets | Spot, Futures, Options, Margin · unverified |
|---|---|
| Maker fee | 0% · unverified |
| Taker fee | 0% · unverified |
| Fiat deposit methods | Bank transfer, Card, ACH · unverified |
| KYC required ⓘ | Yes · unverified |
| Accepts US customers | Yes · unverified |
| Mobile app | Yes · unverified |
| Licenses & registrations | SEC, FINRA, SIPC, FCA, AFM · unverified |
| Security features | 2FA, SIPC insurance, FDIC sweep program · unverified |
| Futures & perpetuals | Yes · unverified |
| P2P market | No · unverified |
| User protection fund | Yes · unverified |
| Referral program | Yes · unverified |
Not disclosed by the provider: Coins listed, Proof of reserves, Staking / earn, Max leverage (x), Copy trading, Earn / savings products.
Data from the provider's website and public sources. Fees and availability change; confirm on the official site before you sign up.
Key features
Webull Pay crypto link
Executes digital asset transactions through linked Webull Pay accounts integrated directly with the platform interface.
Extended market hours
Enables order execution in pre-market from 4:00 AM to 9:30 AM ET and after-hours from 4:00 PM to 8:00 PM ET.
Level 2 market quotes
Provides depth-of-book data and real-time quotes using NASDAQ Last Sale and NBBO data feeds.
Paper trading environment
Simulates real-time market trading without financial capital to test multi-asset strategies.
Developer and AI API
Connects automated quant strategies using SDKs, CLI tools, Local MCP, and Cloud MCP integrations.
Inside Webull
Stocks
Supports zero-commission trading for exchange-listed U.S. stocks, international equities via ADRs, OTC listings, and fractional shares.
Options
Provides multi-leg options execution with real-time Greeks, implied volatility metrics, and extended-hours trading sessions.
ETFs
Offers exchange-traded fund screening and research tools for portfolio diversification with commission-free order execution.
Webull Pay
Dedicated application for digital asset trading through linked accounts.
Retirement
Houses Traditional, Roth, and Rollover individual retirement accounts (IRAs) for long-term tax-advantaged investing.
Paper Trading
Simulated practice environment that uses real-time market quotes to test order types and strategies without financial risk.
Webull Developers
API ecosystem providing trading, market data, and AI-native integrations like Cloud MCP, Local MCP, SDKs, and CLI tools.
Webull screenshots
What users say about Webull
Webull features a detailed trading interface alongside in-depth charting and educational tools. However, user reviews frequently point to slow customer support responses and friction surrounding fund deposits and withdrawals.
Top goods
In their own words
“Best investing app interface IMO! I just love the layout and functionality of the Webull iOS app. The way you can move your limit orders up or down on the chart is a very nice feature. Just so much visibility on your portfolio right in the app.”
“Newbie’s perspective The platform is designed to be pretty easy and alot of tutorials to explain trading terms”
“Can't take active trading at Fidelity anymore...Webull move in day has arrived So, I've been an active Trader for about 2 years (retired). I've done well for myself while at Fidelity but I keep having issues with their trading platform (desktop, mobile and web).”
“Horrible customer service take forever to reply and give you bot answers Horrible customer service take forever to reply and give you bot answers, on the phone for hours, waiting for an answer emailed and waiting days for a reply also via the app just to get a bot to reply a copy and paste from…”
“Bad service It has been my experience that Webull freezes my account every time I remove money and demands documentation from where the money came from and where it’s going. It’s ridiculous”
“Delayed Market Order I’ve been using Webull for over 6 years now, tried a few other brokerages but at this point I’m finally moving to IBKR.”
Based on 100 Reddit posts and comments, 48 App Store reviews from the last 12 months, checked Oct 23, 2026. These are posts by users on other sites, not reviews submitted on CryptoReview.
User reviews
No user reviews yet. Have you used Webull? Share your experience below.
Funding and investors
$30MTotal raised
2Rounds
5Investors
-
Series B Jan 2018 $30MSource
-
Funding round Amount undisclosedCM Coatue ManagementVenture capital GA General AtlanticVenture capital LV Lightspeed Venture PartnersVenture capitalSource
FAQ
Who founded Webull?
Webull was founded in 2016 by Wang Anquan, a former engineer at Alibaba Group and Xiaomi who serves as chairman and CEO. Anthony Denier was hired to lead the U.S. brokerage operations.
How does Webull handle crypto trading?
Webull routes digital asset trading through its dedicated Webull Pay application, which separated from the main brokerage interface in June 2023. Users must set up and link a Webull Pay account to buy and sell cryptocurrencies.
What fees does Webull charge?
Webull charges zero commissions on U.S. stocks, exchange-traded funds, and options contracts, alongside zero margin interest for intraday trading.
Is Webull regulated and licensed?
Webull Financial LLC is a broker-dealer registered with the SEC and a member of FINRA and SIPC in the United States. Internally, Webull holds licenses in international jurisdictions, including the FCA in the United Kingdom and the AFM in the Netherlands.
Has Webull experienced any security incidents or regulatory fines?
FINRA fined Webull $3 million in March 2023 for improper customer approval procedures, and Massachusetts fined the firm $500,000 in November 2023. In late 2025, investigations began into third parties accessing customer accounts to execute unauthorized penny stock purchases.
Latest from Webull on X
Happy Halloween from Webull https://t.co/XjurLtlAQL
Kicked off The Fall Classic games in Tampa Bay with a Webull Watch Party...ready for Game 5!
Invested in every moment. https://t.co/8CFyN4hL93
Invested in every moment. https://t.co/8CFyN4hL93
Just In: The Federal Reserve holds interest rates steady at 3.75-4.00%.
What does this mean for your portfolio? Tell us below.
What does this mean for your portfolio? Tell us below.
Game 3 in St. Pete.
Thank you to everyone who packed Ferg’s for The Fall Classic Watch Party, presented by Webull.
Legends, prizes, blue carpet, and a packed crowd. https://t.co/hiOfKVuzXR
Thank you to everyone who packed Ferg’s for The Fall Classic Watch Party, presented by Webull.
Legends, prizes, blue carpet, and a packed crowd. https://t.co/hiOfKVuzXR
Recent public posts from @WebullGlobal, shown as published. Not reviewed or endorsed by CryptoReview.
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