What Webull does

Webull is a publicly traded (NASDAQ: BULL) commission-free online brokerage founded in 2016 and headquartered in St. Petersburg, Florida after relocating from New York in March 2026. The platform offers self-directed trading in U.S. equities, ETFs, options, futures, cryptocurrencies, prediction markets (via Kalshi), corporate and U.S. Treasury fixed income, IRAs (including mutual funds as of June 2026), cash management products, and SPV-based private market access for accredited investors (via Monark Markets). Webull distributes its services through native iOS and Android apps, the browser-based WebTrade platform, and desktop applications for Windows, macOS, and Linux, with TradingView integration for chart-based execution.

The technology stack centers on a proprietary trading platform with real-time market data, Level 2 order books, 400+ technical indicators, and paper-trading capabilities. Webull has built AI-powered capabilities including the Model Context Protocol server for agentic natural-language trading, Vega AI for real-time decision support, Vega Analyst for generated stock research reports, voice trading, and Orderflow (TPO, Footprint, Volume Profile) for market microstructure analysis. The company integrates with Nasdaq TotalView, Cboe index options, CME Group futures, State Street SPDR ETFs, Coinbase Derivatives for crypto futures, Coinbase Crypto-as-a-Service for token infrastructure, and partners including Level2, Coinrule, and SnapTrade via its public OpenAPI.

The business model is freemium plus transaction economics. Commission-free trading in stocks, ETFs, and options is monetized primarily through payment for order flow, regulatory and exchange fees, and per-contract option fees ($0.10–$0.50). Interest income is earned on margin loans and customer cash balances (up to 3.35% APY on taxable accounts). Subscription revenue is generated from Webull Premium ($3.99/month), Level 2 Quotes ($2.99/month), Orderflow ($16.99/month or $169.99/year), and the credit-based Vega Analyst tier. Additional revenue comes from crypto spreads, prediction markets, fixed-income spreads, and Moneybull cash management in Malaysia. Webull serves 26.8 million registered users globally, with 5 million funded accounts and $24.6 billion in customer assets as of Q4 2025, operating across 15+ markets including the US, Canada, UK, Australia, Singapore, Malaysia, South Korea, Brazil, Hong Kong, and the EU.

Name

Webull

Legal name

Webull Financial LLC

Website

https://webull.com

Company type

Public

Founded year

2016

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Webull is a publicly traded commission-free online brokerage offering trading in stocks, ETFs, options, futures, and cryptocurrencies across mobile, web, and desktop platforms. The company serves 26.8 million registered users globally, with 5 million funded accounts spanning 15+ international markets.

Ownership category

akta.pro rank

Product category

Online Retail Brokerage

NAICS

Commodity Contracts Intermediation (52316), Securities and Commodity Exchanges (5232), Portfolio Management and Investment Advice (523940), Securities, Commodity Contracts, and Other Financial Investments and Related Activities (523)

SIC

Security Brokers, Dealers & Flotation Companies (6211), Security & Commodity Brokers, Dealers, Exchanges & Services (6200), Commodity Contracts Brokers & Dealers (6221), Investment Advice (6282)

akta.pro primary industry

Equities Trade Execution Platforms (ATS/MTF/ECN) (FSAFANAA)

akta.pro secondary industries

Liquidity Infrastructure (RFQ, order-book engines, matching, liquidity-as-a-service) (FSAPADAI), Prime Brokerage & Institutional Trading Services (FSAPADAF)

Keywords

• Online brokerage
• Commission-free trading
• Retail investing platform
• Cryptocurrency trading
• AI-powered trading tools

Headquarters

HQ city

New York

HQ country

United States

HQ region

North America

Offices10 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Technology or R&D, Marketing or Sales, Personnel, Operations, Infrastructure, Others

Revenue model

1. Trading-related revenue (Commissions and Transaction Fees): While Webull offers commission-free trading for stocks, ETFs, and options, the company generates revenue through payment for order flow (PFOF), where market makers pay for order flow execution. Additional revenue comes from regulatory fees, exchange fees, and option contract fees ($0.50 per contract for certain index options, $0.10 per contract for oversized option orders).
2. Interest Income: Interest earned on margin loans to customers and cash balances held in accounts. Webull's cash management program offers up to 3.35% APY on uninvested cash for taxable accounts and 0.10% for IRAs, with the spread contributing to revenue.
3. Subscription/Premium Services: Webull generates subscription revenue through premium tiers: Webull Premium at $3.99/month or $40.00/year, Level 2 Quotes at $2.99/month, Orderflow at $16.99/month, and Vega Analyst credit-based subscription. These premium services provide enhanced features including advanced data, AI analytics, and professional trading tools.
4. Cryptocurrency Trading: Revenue from cryptocurrency trading services, including spreads and fees on crypto transactions. Webull received CIRO approval in 2026 to launch cryptocurrency trading in Canada, offering Bitcoin, Ethereum, Solana, and Cardano among other digital assets.
5. Prediction Markets: Webull partnered with Kalshi (CFTC-regulated prediction market exchange) to offer zero-commission trading on prediction markets including sports events (Super Bowl 'Big Game'), economic indicators, and crypto. Revenue model based on transaction volume and market-making.
6. Corporate Bond Trading: Fixed income trading expansion offering corporate bonds including investment-grade and high-yield bonds for U.S. customers, generating revenue through transaction fees and spreads.

Pricing tiers

Go-to-market motion2 records

Distribution channels7 records

Marketing channels7 records

Core offering

Webull is an online brokerage platform that offers commission-free trading of stocks, ETFs, options, futures, cryptocurrency, prediction markets, fixed income, retirement accounts, and private market SPVs across mobile, web, and desktop applications. It monetizes through payment for order flow, interest on margin and idle cash, and premium subscriptions for advanced data, AI tools, and professional trading features. The platform also serves international markets in 15+ jurisdictions with localized entities and partnerships.

Product overview

Webull is a comprehensive online brokerage platform offering commission-free trading of stocks, ETFs, options, futures, and cryptocurrencies across mobile, web, and desktop platforms. The core platform operates on a freemium model with a premium subscription tier (Webull Premium) offering enhanced market data and features. The product portfolio centers around the main brokerage platform enhanced by AI-powered tools including Vega AI for market analysis and Vega Analyst for personalized research, plus the Model Context Protocol (MCP) for natural language trading. Additional modules include cryptocurrency trading and futures (powered by Coinbase and Coinbase Derivatives), prediction markets (via Kalshi), fixed income products, IRA accounts with mutual funds, cash management with up to 3.35% APY, and automated portfolio management through Webull Advisors. Advanced trading tools encompass Orderflow analysis, paper trading, Level2 no-code strategy automation, and comprehensive charting with 400+ technical indicators. International offerings include Webull Connect for Australian advisers and regional crypto launches in Canada and Australia.

Differentiator

Problem solved

Functional benefit

Brands

• Webull Financial LLC: The primary operating entity for Webull's brokerage services in the United States
• Webull Advisors
• Webull Futures LLC
• Webull Connect
• Webull UK
• Webull Korea/Webull South Korea

Products and services

• Stocks & Fractional Shares Commission-free trading of exchange-listed U.S. stocks, international stocks through ADRs, fractional shares starting from $1, and OTC stocks, available to retail investors across mobile, web, and desktop platforms.
• Options Trading Commission-free options trading with free real-time quotes, Greeks, and implied volatility data, including index options (SPX, VIX, XSP, DJX), available to active retail traders.
• ETFs Zero-commission ETF trading with screener, research tools, and access to State Street SPDR ETFs including SPY, DIA, and MDY for diversified portfolio exposure.
• Futures Trading Access to 60+ futures markets through CME Group, including Micro and Mini futures contracts (MES, MNQ, M2K), with free CME Group market data, low intraday margins, and advanced charting tools.
• Cryptocurrency Trading Buy and sell cryptocurrencies including Bitcoin, Ethereum, Solana, Cardano, and over 200 digital assets through the Webull platform, leveraging Coinbase's crypto brokerage, subcustody, and trade finance infrastructure.
• Crypto Futures Cryptocurrency futures contracts for Dogecoin, Solana, XRP, Litecoin, and other crypto assets available to U.S. users through Coinbase Derivatives, a CFTC-registered platform.
• Prediction Markets Zero-commission prediction market trading on sports events, economic indicators, and crypto-related outcomes through a partnership with Kalshi, a CFTC-regulated prediction market exchange.
• Fixed Income (Corporate & Treasury Bonds) Fixed income trading offering corporate bonds (investment-grade and high-yield) and U.S. Treasury bonds for diversified fixed-income portfolio allocation, generating revenue through transaction fees and spreads.
• IRA Accounts (Traditional, Roth, Rollover) Self-directed Individual Retirement Accounts (Traditional, Roth, and Rollover IRAs) with multiple investment options and an IRA contribution matching program (1% base, up to 3.5% bonus for premium subscribers).
• Mutual Funds (within IRAs) Professionally managed no-load mutual funds available within IRA accounts, enabling diversified long-term portfolio building with ACAT transfer support.
• Cash Management Earn up to 3.35% APY on uninvested cash (0.10% for IRAs) with no fees and immediate withdrawal access; the Malaysia Moneybull variant offers a 6% bonus rate for 90 days via AHAM Asset Management partnership.
• Webull Advisors Automated portfolio management and robo-advisory service providing personalized risk distribution, low minimum requirements, and hands-off portfolio monitoring through Webull Advisors LLC.
• Vega AI AI-powered decision support and analysis tool providing real-time personalized market insights, portfolio analysis, options statistics, natural language trading commands, and personalized alerts for retail traders.
• Vega Analyst AI-powered research tool generating customized stock analysis reports tailored to individual investor research priorities, offered as a premium credit-based subscription with 3,000 credits per billing cycle for approximately 30 reports monthly.
• Model Context Protocol (MCP) Server Natural language AI interface connecting clients to Webull's OpenAPI, enabling users to query real-time market data, view balances and positions, and place and modify orders through conversational prompts without programming knowledge.
• Orderflow (TPO, Footprint, Volume Profile) Advanced market microstructure analysis tool with three integrated modules: TPO for time-price opportunity analysis, Footprint for visualizing institutional buy/sell pressure, and Delta Volume Profile for cumulative volume distribution across price levels, priced at $16.99/month or $169.99/year.
• Webull Connect (Australian Adviser Platform) Portfolio management and execution platform for Australian financial advisers providing multi-currency trading access across Australian, U.S., and Hong Kong markets, with centralized dashboards, in-house execution and settlement, built-in FX functionality, and bulk portfolio transfer capabilities.
• SPV Investment Offering (Private Markets) Private markets solution enabling eligible accredited investors to access late-stage private companies through special purpose vehicles (SPVs) sponsored by Monark Capital Management LLC, with each SPV limited to no more than 99 eligible investors.
• Webull OpenAPI Public API enabling programmatic trading, real-time market data access, and account management for third-party developers, partners (e.g., Coinrule, SnapTrade, Level2), and AI agents via the MCP server.
• Webull Mobile App Native iOS and Android mobile applications providing the primary self-serve trading and account management interface for retail investors, with full platform capabilities for trading, charting, and portfolio management.

Quantifiable outcome

• Customer assets grew 90% year-over-year to $24 billion in Q1 2026
• +4 more outcomes

Named customers1 record

Segments4 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration12 records

AI capability11 records

Feature5 records

Partnerships

13 partnerships are on record, tiered core and minor.

• Monark Markets (Monark Capital Management LLC)coreStrategic or Co-development Partner · 23 June 2026Partnership to enable eligible accredited investors to access late-stage private companies through special purpose vehicles (SPVs) sponsored by Monark Capital Management LLC. Each SPV limited to no more than 99 eligible investors, with subscription and funding facilitated through Webull platform. Represents Webull's entry into private markets.
• CoinbasecoreTechnology or Integration · 11 March 2026Webull Pay partnered with Coinbase to leverage its Crypto-as-a-Service (CaaS) platform, integrating Coinbase's crypto brokerage, subcustody, and trade finance infrastructure. Partnership enables Webull to expand token offerings to over 200 assets while gaining operational flexibility and scalability for international expansion. Serves over 25 million registered users globally.
• XChargeminorGTM or Marketing Partner · 11 March 2026XCharge participated in Webull Corporate Connect Webinar Series for Clean Energy Sector on April 15, 2026. CFO Joel A. Gallo and COO Aatish Patel presented on financial performance and deployment strategy for high-power EV charging infrastructure. XCharge is listed on Nasdaq (XCHG Limited) with dual headquarters in Hamburg, Germany and Austin, Texas.
• Pineapple FinancialminorGTM or Marketing Partner · 11 March 2026Director Anthony Georgiades presented at Webull Crypto and Digital Asset Treasury Webinar on March 11, 2026. Pineapple Financial operates a digital asset treasury strategy focused on accumulating INJ tokens while running Canadian fintech and mortgage brokerage network.
• Solidus LabscoreTechnology or Integration · 5 March 2026Partnership to enhance digital asset trade surveillance across United States and Canada using Solidus Labs' HALO platform. HALO uses multidimensional data combining user behavior, social sentiment, and OSINT data with traditional trade and order flow analysis to detect market integrity issues across on-chain and off-chain data. Aims to provide institutional-grade oversight for Webull's high-volume digital asset trading operations.
• AHAM Asset ManagementminorStrategic or Co-development Partner · 21 November 2025Partnership for Moneybull cash management solution in Malaysia, enabling users to earn returns on idle cash by investing in Shariah-compliant money market fund. Promotional offer provides bonus returns of up to 6% per annum for 90 days on cash balances up to MYR 200,000 with no subscription, redemption, or platform fees.
• Meritz Financial GroupcoreStrategic or Co-development Partner · 12 November 2025Strategic partnership to expand access to U.S. equity markets for South Korean investors and mark Webull's entry into South Korea. Collaboration enables South Korean users streamlined market access through foreign omnibus accounts, part of South Korea's push for MSCI developed-market status. Seven local Korean brokers preparing to launch service following FSC abolition of restrictions in January.
• Coinbase DerivativescoreTechnology or Integration · 30 October 2025Ongoing partnership with Coinbase Derivatives enabling Webull to offer crypto futures contracts. U.S. users can trade futures contracts for Dogecoin, Nano XRP, Nano Solana, Litecoin, XRP, and Solana through Coinbase Derivatives, a registered CFTC platform reporting record volumes.
• State Street (SPDR ETFs)coreChannel Partner/ Reseller/ DistributorPartnership with State Street providing Webull clients direct access to SPDR ETFs, including SPY, DIA, and MDY. ETFs offer diversified exposure, cost efficiency, and institutional-grade performance tracking major indexes like S&P 500 and Dow Jones Industrial Average. Zero-commission trading on Webull platform.
• CME GroupcoreChannel Partner/ Reseller/ DistributorAccess to 60+ futures markets across all major asset classes including equity indices, energy, metals, FX, interest rates, and agricultural commodities. Webull offers micro and mini futures contracts including MES (Micro S&P 500), MNQ (Micro Nasdaq 100), and M2K (Micro Russell 2000) with free CME Group market data, low intraday margins, and advanced charting tools.
• CboecoreChannel Partner/ Reseller/ DistributorPartnership for index options trading including SPX, VIX, XSP, and DJX. Webull provides European-style index options with professional tools and advanced charting. Cboe provides expert insights, educational content, and free real-time data through Macro Volatility Digest and research publications.
• TradingViewcoreChannel Partner/ Reseller/ DistributorIntegration enables Webull trading from TradingView charts with commission-free trades. Users access TradingView's 15+ chart types, 110+ smart tools, 400+ technical indicators, 13 alert conditions, and 100+ financial ratios. 100% synchronization with browser version and expanded workspace capabilities.
• NasdaqcoreTechnology or IntegrationWebull offers Nasdaq TotalView providing full order book depth for Nasdaq, NYSE, NYSE American, and regional stocks. Every quote and order at each price level enhances market liquidity insights for smarter trading. Free 1-month subscription for new users; Level 2 data included in Premium subscription.

Scale indicators19 records

Recent moves9 records

Expansion highlights8 records

Direct peers

• eToro: Global multi-asset social trading platform offering stocks, ETFs, crypto, and CFDs across 75+ markets. Compares to Webull on community-driven investing, commission-free core trading, and broad international footprint.
• tastytrade: Options and futures-focused retail brokerage owned by IG Group, targeting the same active-trader niche as Webull. Comparable on professional-grade derivatives tooling and educational content.
• Moomoo: Mobile-first retail brokerage owned by Futu, offering commission-free global trading, advanced charting, and AI tools. Named as a direct Webull competitor in promotional comparisons, particularly in the U.S., Singapore, and Australia.
• Robinhood Markets: Direct commission-free retail brokerage competitor. Robinhood targets the same active self-directed retail trader segment with mobile-first trading, options, crypto, and similar PFOF-driven economics — making it the closest comparable.
• Public.com: Mobile-first retail brokerage with social and community features, fractional shares, and expanding crypto/private-markets access. Targets a similar younger, self-directed demographic with overlapping product breadth.
• TradeStation: Online brokerage historically focused on active and professional traders with strong options/futures tooling. Competes with Webull in the active-trader segment via API access, advanced charting, and multi-asset trading.
• SoFi Technologies: Digital-first financial platform offering SoFi Invest brokerage alongside lending and banking. Competes with Webull on zero-commission trading, IRAs, and integrated financial product breadth for younger retail investors.
• Interactive Brokers: Multi-asset online brokerage serving retail and professional traders globally. Comparable across product breadth (stocks, options, futures, fixed income, global market access) and is increasingly competing for the same retail active-trader customer.
• E*TRADE (Morgan Stanley): Established online brokerage now under Morgan Stanley, serving active retail traders and stock-plan participants. Directly overlaps Webull on options, futures, and professional-grade tools; offers deeper capital backing and brand trust.

Broad incumbents

• Charles Schwab: Large incumbent brokerage with zero-commission trading, a deep retail and advisor platform, and significant balance-sheet funding. Competes with Webull across active traders, IRAs, and increasingly crypto offerings.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/webullfinancialllc
• Xx.com/WebullGlobal

Compliance7 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Subsidiaries7 records

Funding overview

Funding rounds1 record

Investors5 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Webull