Webull Enters the UK after Launching in Three Major APAC Jurisdictions

<p>The US-based
Webull platform targeting retail traders has set its sights on the United
Kingdom after launching branches in Singapore, Hong Kong and Australia. <a href="https://www.financemagnates.com/tag/webull/" target="_blank" rel="follow">Webull
Corporation</a> has officially started its retail brokerage services under Financial
Conduct Authority's (FCA) supervision. </p><p>British
residents can now trade US-listed <a href="https://www.financemagnates.com/terms/e/equities/">equities</a> and fractional shares via Webull's
app. However, for the broker, it may be an opportunity to gain
customers in a market that is larger than the US one in several respects.</p><p>Webull Extends Its Global
Expansion into Europe</p><p>The
introduction of Webull's services in the UK represents the company's first
venture into Europe, building on its track record of successful launches in the
APAC region over the past two years. The entry into the UK comes seven months
after Webull <a href="https://www.financemagnates.com/fintech/webull-expands-into-australia-in-third-apac-launch/" target="_blank" rel="follow">launched its branch in Australia</a>. Earlier in 2022, the US company appeared
in Singapore, and in 2021 it began offering its services to customers in Hong Kong.</p><p>Anthony
Denier, the US CEO of Webull who is overseeing operations in America and Europe,
expressed confidence in the UK market's potential and anticipated expanding
their product offerings to cater for British clients. </p><p>"We
are confident that the powerful trading tools and simple mobile format will
prove attractive in the UK. We are sure our new clients will enjoy tech and
enjoy investing," Denier commented.</p><p>Webull UK
received authorization from the FCA in October 2022 and has spent the last months
recruiting a team with local experience. The company will offer US-listed
securities, but it plans to extend this offering by opening up new investment
opportunities for regional retail investors.</p><p>Several
months ago, the platform's popularity drew the attention of fraudsters who
attempted to <a href="https://www.financemagnates.com/terms/c/clone/">clone</a> it. The Belgian supervisory commission <a href="https://www.financemagnates.com/forex/fsma-warns-against-webull-clone-and-20-other-unlicensed-platforms/" target="_blank" rel="follow">issued a warning
about this in February</a>.</p><p>UK Has More Retail Traders than US?</p><p>Webull's move may not be a coincidence. According to recent <a href="https://www.financemagnates.com/forex/uaes-fx-and-cfds-trader-population-reaches-record-49000-in-2023/" target="_blank" rel="follow">data from
Investment Trends</a>, the number of active retail investors in major jurisdictions
has been falling recently. In the United States, the decline was 24%. Despite the slump in the number of active investors in the UK was greater than in the US (25% vs 24%), the overall US active clients base in the contracts for
difference (CFDs) and forex (FX) markets is still visibly bigger.</p><p>
Investment Trends reports that 205,000 people in the UK were actively trading in these
markets in May 2022, while there were only 175,000 people in the United States. The UK is one
of the most developed financial markets in the world, so an appearance there
could allow Webull to expand its existing user base significantly.</p><p>

Analyzing
the other jurisdictions in which Webull operates, we note that they are
also large concentrations of active FX/CFD traders. There were 43,000 traders in
Singapore in September 2022, and in Australia 81,000 was present in November 2022. <a href="https://www.financemagnates.com/forex/analysis/forex-in-hong-kong-cfds-are-banned-but-traders-seek-other-options/" target="_blank" rel="follow">In Hong
Kong</a>, the figure reached 185,000 in 2021.</p><p>CEO Talks about
Revolutionizing the Investment Market</p><p>Nick
Saunders, the CEO of the newly launched Webull UK, acknowledged the evolving
nature of the investment market. </p><p>"The
British public is now actively seeking low-cost investment opportunities
domestically and in markets outside the UK. Webull's strength is in our global
network and innovative mindset," he added.</p><p>Saunders
assures that Webull is dedicated to finding the right solution for its clients,
promising to build on sustainable foundations to meet customer needs.</p><p>However,
this does not change the fact that the company <a href="https://www.financemagnates.com/forex/finra-hits-webull-with-3m-fine-for-permitting-unqualified-options-traders/" target="_blank" rel="follow">has a few minor sins against its
name</a>. In March, the Financial Industry Regulatory Authority (FINRA) imposed a fine of $3 million on the securities broker for onboarding unqualified options
traders between December 2019 and July 2021. Webull Corporation failed to
perform reasonable due diligence prior to accepting these options traders and
did not maintain an appropriately designed supervisory system to register and
respond to customer complaints.</p>

This article was written by Damian Chmiel at www.financemagnates.com.