- Webull does not charge any commission, platform, membership and settlement fees. As for withdrawal fees, Webull does not charge any withdrawal fees only for SGD withdrawals to receiving banks within Singapore, but for USD and HKD withdrawals, there will be a handling fee of SGD20 charged by the remitting bank.
You can open an account with Webull in 4 simple steps.
- 1. Apply via MoneySmart’s page and click on "Apply Now", and you’ll be directed to Webull Singapore's online application page.
- 2. Select the “Get started” button to register for a Webull account.
- 3. Fund your Webull account with an initial funding of at least SGD2,000 and maintain this amount in your account.
- 4. Begin trading with your Webull account and earn bonus rewards.
- Yes. However, due to Webull’s regulatory restrictions, its cryptocurrency trading products are only available to New York state residents and not available to Singapore citizens and residents.
- No, you do not need to own a Singapore SGD bank account in order to trade via Webull’s platform as you may do an international wire transfer. Do note that there may be international wire transfer fees as Webull’s clearing firm charges $12.50 for each deposit. You may be subject to pay extra fees according to the policy of your remitting bank and the intermediary bank.
- In fractional trading, you’ll be able to own a fraction of a share, so you can invest in your preferred company regardless of its share price. Thus, you have the choice to either invest in less than a whole unit of a share of your preferred company or a whole number of shares.
- Yes. Currently, this feature is available on Webull only for transfers from/to brokerages who support ACATS (Automated Customer Account Transfer Service) transfers, such as Robinhood, Fidelity, Charles Schwab, TD Ameritrade, Scottrade, E*trade, Interactive Brokers, Merrill Lynch, Vanguard, Firstrade, and SogoTrade. It will take about 7 working days to transfer from other brokers to your Webull account.
- Yes, it is relatively safe as Webull is licensed by the Monetary Authority of Singapore (MAS), and Webull is a partner of the globally renowned NASDAQ stock exchange.
- Yes. However, there’s a net account value range that starts from $0 to more than $25,000 for a margin account, so your net account value will determine how many times you can do a day trade or overnight trade, and whether you can carry out short selling or not.
- All Webull accounts holders’ securities are kept in either a cash or margin account.
- No. No separate brokerage or CDP account is required.
- Yes, Webull’s bonus options trading features include real-time data such as those on Options Price Reporting Authority (OPRA) and Cboe Streaming Market Indices (CSMI), and multiple order types (LIMIT, MARKET, STOP, STOP LIMIT). What’s more, there’s no minimum deposit required and there are no contract fees, commission fees, assignment fees, and exercise fees.
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