In the event you thought the identify Webull sounded acquainted, you most likely learn it in passing in 2021; within the aftermath of the Gamestop saga on Robinhood the place many US retail buyers flocked to Webull as a substitute.
The excellent news is, Webull has lastly launched in Singapore and is formally the most cost-effective brokerage you should use, as a result of it’s FREE^ to commerce with them. No fee charges and nil platform charges^!
The dangerous information is, you solely get entry to the US and Hong Kong markets – for now.
No commissions or platform charges^
Webull isn’t the primary low-cost, digital brokerage in Singapore.
However they’re actually disrupting the market with their entry, since you don’t must pay something for Webull’s companies. No fee charges, and no platform charges both^.
In the event you’re on the lookout for the most affordable dealer to purchase US shares / US choices / HK shares in Singapore, there’s no competitors for now – Webull wins, arms down.
In fact, the explanation why I can’t say it’s utterly free is as a result of the same old charges which are payable to regulatory authorities and clearing homes apply – these are fairly commonplace throughout each dealer you employ, so there’s no escaping that. Even should you use one other dealer, you’ll nonetheless be incurring these kind of charges.
Most of the different platforms have since moved to providing zero commissions on US shares, however their platform charges stay. Webull, alternatively, fees nothing for his or her platform, and has prolonged the zero commissions for not simply US shares, but additionally US choices and ETFs as nicely^!
Apart from being the most affordable brokerage in the intervening time, there are additionally different options to love:
- Simple and intuitive consumer interface
- Fractional shares for many US shares and ETFs – from as little as US$5
- Inventory screener – filter primarily based on monetary metrics comparable to PE ratios or EPS to get inventory concepts
- Technical charting instruments – the app offers you 17-line chart choices and 60 technical indicators so that you’ll be spoilt for selection.
- Get real-time quotes with entry* to NASDAQ TotalView and NBBO quotes, and OPRA information subscription
- Aggressive overseas foreign money conversion charges – solely a small unfold over the Interbank price
- Quick deposits – through digital DDA (virtually instantaneous), FAST or telegraphic transfers. (Tip: go for eDDA or FAST as a substitute, and keep away from TTs which comes with financial institution fees)
I fairly just like the Trade Heatmap, which offers me with a straightforward overview to get a way of which sectors is perhaps overbought or oversold in the intervening time. One other function that a few of you who’re extra into index investing could like can be the Standard ETFs web page, which may give you concepts on extra ETFs to discover to your personal portfolio.
Don’t simply take my phrase for it, obtain to attempt it out for your self and see how simple it’s to navigate the app!
And with regards to withdrawals, be aware of the dealing with payment; that is S$20 and charged by the remitting financial institution (not Webull).
*Complimentary entry to Stage 2 US market information (NASDAQ TotalView) for the primary month. Complimentary real-time information subscription to Choices Worth Reporting Authority (OPRA) for 1 month, which will be prolonged for an infinite variety of instances so long as you execute 1 choices commerce each 30 calendar days.
Least expensive for US / HK markets
In the event you’re primarily based in Singapore, Webull is undisputedly the most affordable brokerage you could find should you’re investing or buying and selling within the US or Hong Kong markets.
It doesn’t make a lot sense to make use of the native brokers for abroad shares, due to the hefty custodian charges (normally $2 per counter monthly!) and dividend dealing with charges that they cost. As a newbie, these charges can add up actual fast and restrict the strikes / shareholdings you may make! That’s why for abroad markets, I like to recommend going with a low-cost digital brokerage as a substitute.
You should buy or promote any US inventory, choice or ETF on Webull with zero fee or platform charges^. For Hong Kong, that is restricted to shares and ETFs solely.
Sadly, Webull at present doesn’t have entry to SGX shares, so I like to recommend that you simply pair it with one other brokerage that may give you low-cost entry.
For these of you adamant about proudly owning your SGX shares as a substitute of getting it in custody, I like to recommend DBS Vickers (Money Upfront) for its low $10 charges.
For newbies, I do assume you guys ought to positively think about using Webull as a result of:
- The interface is tremendous intuitive and simple to navigate, making it much less seemingly so that you can unintentionally make errors.
- Its fractional shares function will can help you construct your portfolio throughout a number of US shares and ETFs, even you probably have a smaller beginning capital.
- The charges are
tremendous lowthe most affordable.
Having mentioned that, should you’re a seasoned investor who’s gotten used to buying and selling on desktop, then Webull won’t be as interesting to you as they solely have a cell app for now.
For buyers who need entry to a number of markets inside a single dealer, observe that Webull solely has the US and HK markets for now. This may occasionally change sooner or later as they increase, although.
Is Webull secure to make use of?
In the event you have been questioning, Webull Securities (Singapore) Pte. Ltd. is regulated by the Financial Authority of Singapore (MAS) and holds a Capital Markets Companies (CMS) Licence to function right here.
By way of its background, Webull was based by ex-Alibaba worker Wang Anquan, and its father or mother firm is Fumi Expertise – a Chinese language holding firm with monetary backing from Xiaomi, Shunwei Capital, and different personal fairness buyers in China.
Their world Twitter account has over 117k followers, and so they’re fairly mainstream / well-liked within the US amongst retail buyers. So whereas they could be pretty new to the Singapore market, they’re positively not a beginner within the world scene in any respect.
By way of your belongings, they’re held in custody and any monies that you simply deposit with Webull are held in belief. These are the necessities as a MAS licensed custodian, and Webull is required to adjust to the Securities and Futures Act and all subsidiary legislations. Within the US, Webull has additionally constructed a powerful and safe identify for itself as it is usually regulated by the SEC and is a member of the Securities Investor Safety Company (SIPC), so I reckon there’s little incentive for them to jeopardize their enterprise in any approach.
And for these of you who’re tremendous nervous, even within the uncommon occasion of insolvency, liquidators could have no declare to your belongings held by Webull. You’ll be able to learn extra about these guidelines binding Webull right here.
Personally, all my Singapore shares undergo the native (financial institution) brokers and are owned immediately in my CDP account, whereas I exploit a mixture of low-cost brokers for my US and HK trades.
Now that Webull is providing FREE trades for US shares, choices and ETFs in addition to HK shares and ETFs^, I’ll be utilizing them as nicely.
As a part of their sign-up supply, now you can stand up to USD 100 price of TSLA fractional shares while you register and commerce with Webull^.
In brief, I do assume it’s price signing up with Webull, particularly given the way you get charged the bottom charges to your trades on the US and HK market.
Eager to get began?
Join an account right here at present.
Disclosure: I’ve included my very own affiliate hyperlinks within the article. This text is written in collaboration with the Webull Singapore staff, particularly for fact-checking! All opinions are unbiased and that of my very own.
^Phrases and Circumstances Apply. Please consult with https://www.Webull.com.sg/ for extra data.