Webull, a digital investment platform, has reported a 100% year-over-year growth in assets under management in the APAC region as of 31 July 2024.
This growth reflects the company’s steady expansion, starting with its entry into Hong Kong in 2020, followed by Singapore and Australia in 2022, and later Japan, Indonesia, Malaysia, and Thailand.
The company attributes its growth to its accessible trading tools and wide range of investment options across U.S. and APAC markets.
Since launching in the U.S. in 2018, Webull has expanded to over 13 markets, with 40 million downloads and 20 million registered users globally.
In 2023, customer assets increased by 38%, reaching US$8.2 billion.
In Singapore, Webull has experienced strong growth since its launch in 2022.
The platform introduced key features for local investors, including overnight U.S. stock trading, allowing users to trade U.S. stocks and ETFs around the clock.
Additionally, the company expanded its offerings to include more than 1,000 SGX-listed products, such as stocks, REITs, DLCs, and ETFs, catering to investors seeking diversified portfolios.
Webull also provides access to 430 mutual funds from various fund houses, alongside wealth management tools like Moneybull, a cash management product, and a Regular Savings Plan to help investors manage their wealth effectively.
The platform offers low commission fees with no platform fees for U.S., Hong Kong, and A-shares trading.
For Singapore-listed stocks and ETFs, the platform charges a commission of 0.025% (minimum SGD 0.80), with a current campaign providing a 3-year period of commission-free trading.
Webull said that its focus on low fees and investor tools has helped build its presence in the region.
“Since we entered APAC in 2020, we have seen a steady increase in our user base, with investors leveraging Webull’s trading tools to develop comprehensive and diversified investment portfolios across the U.S. and APAC markets.
In the next two years, Webull aims to be a top broker-dealer in every region, and we remain committed to developing innovative solutions that will allow us to grow significantly while ensuring trading remains accessible and affordable for all retail investors,”
said Anthony Denier, Group President of Webull Corporation.
“Since we entered the Singapore market in 2022, we have witnessed a strong uptrend in our user base within a short two-year span.
Investors in Singapore continue to seek attractive yields for their investments and Webull Singapore will strive to develop better, more innovative products and tools that will cater to the evolving needs of Singapore investors,”
said Jonathan Man, Chief Executive Officer of Webull Singapore.
Featured image credit: Edited from Freepik
