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eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs.
Although Webull holding company is Chinese, Webull is a U.S. company, registered in New York and, as such, operates in terms of the laws of the United States.
When you want to start trading stocks, there are a lot of brokers and platforms you can choose from. To choose the right one, you’ll have to look at what they offer, what their fees are, and how easy their platform is to use. It's also important that you look into the background of these brokers in more detail to make sure that they’re not a fly-by-night operation that will disappear with your money.
But here's the problem. There's so much information out there that it's often difficult to distinguish between fact and fiction. Fortunately, we’re here to help, and, in this post, we'll look at Webull in more detail.
So, who owns Webull today? Is Webull a US or Chinese company? Let's take a look.
Webull Financial LLC was founded in New York as a Delaware limited liability company in 2017 to offer an electronic trading platform and it launched its mobile apps for iOS and Android in May 2018. By August 2020, the platform already had over 11 million registered users.
Who Established Webull?
Webull was created by Wang Anquan, a former employee of the Alibaba Group and smartphone manufacturer Xiaomi.
What is Webull’s Mission?
Webull believes that individuals are an important part of the market. As such, they should not be ignored. It also believes that technology has a role to play for investors because it expands human trading capabilities in respect of time, scale, and technique. In simple terms, it can make trading easier, quicker, and less complex.
As a result, Webull’s mission is to offer an investment platform that provides its users with an excellent user experience while also providing advanced and intelligent tools and services.
Who Owns Webull Today?
The Webull platform is owned by Webull Financial LLC which is headquartered in New York. Its parent company is Fumi Technology, a Chinese holding company of which Anquan owns 35%. The other stakeholders in Fumi Technology include Xiaomi, Shunwei Capital, Hongdao Capital, Bojiang Capital, and Gopher Asset Management.
Is Webull a US or Chinese Company?
Although its holding company is Chinese, Webull is a US company, registered in New York and, as such, operates in terms of the laws of the United States.
In Which Country Is Webull Regulated?
Webull Financial LLC is registered with the Securities and Exchange Commission (SEC) and it’s also a member of the Financial Industry Regulatory Authority (FINRA), Securities Investor Protection Corporation (SIPC), the New York Stock Exchange (NYSE), NASDAQ, and the Cboe EDGX Exchange (CBOE EDGX).
Who Is the CEO of Webull?
Webull’s current CEO is Anthony Denier. Its chief operating officer is Shen Lu.
Is Webull Safe? Can I Trust Webull?
You can definitely trust Webull as it’s regulated in the US by the SEC. Also, because it's a member of SIPC, Webull’s customers’ securities are protected for an amount of up to $500,000 which includes $250,000 for claims for cash.
In addition, Webull’s clearing firm, Apex Clearing Corp has purchased additional insurance to protect traders. This insurance provides protection for securities and cash up to an amount of $150 million, subject to the maximum limits of $37.5 million for a single customer’s securities and $900,000 for a single customer’s cash.
As a result, you can accept that Webull is safe and that your money is protected.
Summary
When you're choosing the right broker to trade stocks, there are many things you should consider. One of the most important things here is to make sure that your money is safe.
Considering that Webull is incorporated and regulated in the United States and that it has implemented the necessary safeguards to protect your money, it’s definitely worth considering when you're looking for a platform to trade stocks.
The Webull broker is characterized by low-quality execution of transactions. Transactions revolve within the company. If you compare trading here with trading in other companies, the difference will be very noticeable. I do not advise.
I have been cooperating with Webull for the third month. It seems to me that this is a sufficient period to see all the obvious advantages and disadvantages of the company. First, about the cons, which, perhaps, only catch me. I don't like their terminal from the word "generally". It lacks tools for analysis, and performance leaves much to be desired. Another disadvantage is that access to margin trading is opened from $2,000 in the account balance. But still, I lingered here, because there are pluses: trading without spreads, increased leverage on intraday trading and a demo account for testing strategies. I don’t see a worthy replacement among competitors yet, I stay with Webull until better times.
I won’t complain about Webull either. My homie advised me to cooperate with this broker and I immediately checked its legal documents. It’s as clear as day, the company operates in the legal field. Trust my experience, there are a lot of scammers these days but Webull is not one of them. The broker's terminal is rock-solid, and after the last update, it became even more convenient to use it compared to before. Everything is smooth with payments and the company strives to make the process even better.
I opened an account with Webull a year ago, the company's experts helped to develop a strategy and decide on financial instruments. I cannot say that I am very impressed with the results, but there is an indisputable plus from our cooperation. Transactions are well protected, there is no commission for withdrawing funds from the account.
Lads, I trade on the Webull platform consistently and I am not complaining. To be honest, I didn't even think one moment about writing a review about this broker. I heard from a friend that he considers this company to be fraudulent as he saw many negative reviews.
Fair enough, the company is young, but you can’t nitpick about its conditions and regulation, especially in the United States. And most importantly, it pays money hassle-free. Intelligent support tries to help and resolve your issues.
FAQs
To give you more information about Webull, we’ve compiled a list of frequently asked questions that traders often have.
Is Webull a Chinese owned company?
The Webull platform is owned by Webull Financial LLC which is headquartered in New York. Its parent company is Fumi Technology, a Chinese holding company of which Anquan owns 35%.
Who is behind Webull?
Webull was created by Wang Anquan, a former employee of the Alibaba Group and smartphone manufacturer Xiaomi.
Do I need to be a US citizen to use Webull?
At www.webull.com/cryptocurrency you can see a list of digital assets for trading. Only residents of the United States can make transactions with cryptocurrencies.
Is Webull free?
Yes, Webull is free and it doesn’t charge any commissions for any trading.
How does Webull make money?
Although it doesn't charge any commissions, Webull makes money through payments for order flows, stock loans, interest on free credit balances, and margin interest.
How can I open a Webull Account?
To open a Webull account, you need to be at least 18 years old, live in the United States, have US citizenship, and have a valid Social Security number.
Does Webull offer free stocks?
Yes, Webull does offer free stocks from time to time. You could, for instance, get one free for stock when you open an account when such a promotion is running.
A broker is a legal entity or individual that performs as an intermediary when making trades in the financial markets. Private investors cannot trade without a broker, since only brokers can execute trades on the exchanges.
Trading involves the act of buying and selling financial assets like stocks, currencies, or commodities with the intention of profiting from market price fluctuations. Traders employ various strategies, analysis techniques, and risk management practices to make informed decisions and optimize their chances of success in the financial markets.
An investor is an individual, who invests money in an asset with the expectation that its value would appreciate in the future. The asset can be anything, including a bond, debenture, mutual fund, equity, gold, silver, exchange-traded funds (ETFs), and real-estate property.
Cryptocurrency is a type of digital or virtual currency that relies on cryptography for security. Unlike traditional currencies issued by governments (fiat currencies), cryptocurrencies operate on decentralized networks, typically based on blockchain technology.
Oleg Tkachenko is an economic analyst and risk manager having more than 14 years of experience in working with systemically important banks, investment companies, and analytical platforms. He has been a Traders Union analyst since 2018. His primary specialties are analysis and prediction of price tendencies in the Forex, stock, commodity, and cryptocurrency markets, as well as the development of trading strategies and individual risk management systems. He also analyzes nonstandard investing markets and studies trading psychology.
Dr. BJ Johnson is a PhD in English Language and an editor with over 15 years of experience. He earned his degree in English Language in the U.S and the UK. In 2020, Dr. Johnson joined the Traders Union team. Since then, he has created over 100 exclusive articles and edited over 300 articles of other authors.
Mirjan Hipolito is a journalist and news editor at Traders Union. She is an expert crypto writer with five years of experience in the financial markets. Her specialties are daily market news, price predictions, and Initial Coin Offerings (ICO).
