Digital investment platform Webull reported that as of July 31, 2024, its assets under management in the Asia-Pacific region grew 100% year-on-year.
This growth reflects the company’s steady expansion, beginning with its expansion into Hong Kong in 2020, followed by Singapore and Australia in 2022, followed by Japan, Indonesia, Malaysia and Thailand.
The company attributes its growth to accessible trading tools and a wide range of investment options across the U.S. and Asia-Pacific markets.
Since its launch in the United States in 2018, Webull It has expanded to over 13 markets, with 40 million downloads and 20 million registered users worldwide.
Client assets will grow by 38% to reach US$8.2 billion in 2023.
In Singapore, Webull has seen strong growth since its 2022 launch.
The platform introduced key features for local investors, such as overnight US stock trading, allowing users to trade US stocks and ETFs around the clock.
Additionally, the company has expanded its offerings to include over 1,000 SGX-listed products, including stocks, REITs, DLCs and ETFs, to cater to investors’ needs for a diversified portfolio.
Webull also provides access to 430 mutual funds from various fund companies and offers wealth management tools such as Moneybull, a cash management product, and fixed savings plans that help investors manage their assets effectively.
The platform offers zero platform fees and low commissions for trading US stocks, Hong Kong stocks and A-shares.
For Singapore-listed stocks and ETFs, the platform charges a fee of 0.025% (with a minimum of SGD 0.80), but is currently running a promotion offering a three-year fee-free trading period.
Webull said its focus on low fees and investor tools has helped it grow its presence in the region.
“Since entering the Asia-Pacific region in 2020, our user base has grown steadily, with investors leveraging Webull’s trading tools to develop comprehensive and diversified investment portfolios across the US and Asia-Pacific markets.
Over the next two years, Webull aims to become the top broker-dealer in every region and will continue to work on developing innovative solutions that enable significant growth while ensuring trading remains accessible and affordable for all retail investors.”
“Webull is excited to partner with Salesforce to bring our customers the best of both worlds,” said Anthony Denier, group president, Webull Corporation.
“Since entering the Singapore market in 2022, we have seen a significant increase in our user base in just two years.
As Singapore investors continue to seek attractive investment yields, Webull Singapore strives to develop better and more innovative products and tools to cater to the evolving needs of Singapore investors.”
“Webull Singapore is a game-changer for the digital age,” said Jonathan Man, CEO of Webull Singapore.
Featured Image Credit: Free Pick
