# Webull

> Source: https://docs.barcoder.ai/docs/wallets/webull
> research date 2026-05-30 · extracted at 2026-10-07
> Publisher: Barcoder — encyclopedia of QR, barcode and payment-code standards

Specifications:
- [Webull — official](https://www.webull.com/)

## Overview

**Webull** is **US commission-free retail brokerage + Chinese fintech US brokerage** + **post-Apr 11 2025 NASDAQ SPAC listing (BULL ticker)** <sup>[1][1], [2][2], [United States report](https://docs.barcoder.ai/docs/payments/US)</sup>. **Q3 2025**: 25.9M Webull registered users (+17% YoY); Q2 2025: 24.9M registered users (+18% YoY); Q3 2025 total revenue +55% YoY + first net earnings positive (swing from loss to positive); 2024 Kalshi prediction markets partnership.

**Distinctive Webull positioning** <sup>[1][1], [2][2], [3][3], [4][4]</sup>:
- **US commission-free retail brokerage** + **Chinese fintech US brokerage** (Wang Anquan founder; Hunan native + ex-Alibaba + ex-Xiaomi + ex-Founder Group)
- **Q3 2025**: 25.9M Webull registered users (+17% YoY); Q2 2025: 24.9M (+18% YoY)
- **Apr 11 2025 NASDAQ SPAC listing**: completed merger with SK Growth Opportunities Corporation → publicly trading NASDAQ: BULL
- **2017 Webull founding by Wang Anquan** in New York City (Hunan province China heritage; founder ex-Alibaba + ex-Xiaomi + ex-Founder Group; Webull Chinese name 微牛 "tiny bull")
- **Webull International + 14+ markets**: US + JP + KR + GB + AU + SG + ZA + HK + IT + ES + MX + BR + ID + MY — distinctive US commission-free brokerage international expansion
- **2024 Kalshi prediction markets partnership** — distinctive Webull prediction markets entry
- **Q3 2025 total revenue +55% YoY + first net earnings positive**

## History

**2017 — Webull founded by Wang Anquan** in New York City — distinctive Chinese fintech US brokerage (Wang Anquan ex-Alibaba + ex-Xiaomi + ex-Founder Group; Webull Chinese name 微牛 "tiny bull").

**May 2018 — Webull mobile app launches** as US commission-free retail brokerage.

**Apr 11 2025 — Webull completes merger with SK Growth Opportunities Corporation → NASDAQ public listing** (BULL ticker) — distinctive Webull SPAC NASDAQ listing <sup>[3][3]</sup>.

**2024 — Kalshi prediction markets partnership** — distinctive Webull prediction markets entry.

**Q3 2025 — 25.9M Webull registered users (+17% YoY) + total revenue +55% YoY + first net earnings positive (swing from loss to positive)** <sup>[1][1], [2][2]</sup>.

## Ownership & operator

**Operating entity**: **Webull Corporation** (NASDAQ: BULL) — Cayman Islands incorporated; HQ in St. Petersburg, Florida (formerly New York City).

**Major shareholders**: **Wang Anquan (founder + CEO) + Fumi Technology + Xiaomi (Xiaomi-affiliated) + Founder Group (Founder Group-affiliated) + SK Group + Pacific Square Capital + post-Apr 11 2025 NASDAQ SPAC listing public float (BULL ticker)**.

**Regulators**: **SEC + FINRA + state-level securities regulators + multi-jurisdiction international (Japan + Korea + UK + Australia + Singapore + South Africa + Hong Kong + Italy + Spain + Mexico + Brazil + Indonesia + Malaysia regulators)**.

## Technical integration

Webull mobile app (iOS + Android) + webull.com web + Webull desktop app + Webull Pay (crypto subsidiary) + Webull Cash Card + Webull IRA (Roth + Traditional IRA + Rollover IRA) + Webull International multi-currency funding; **Webull Financial LLC (broker-dealer; NYSE trading participant)** + **Webull Pay LLC (crypto broker)** + **Webull Securities (HK + SG + AU + ZA + UK + JP + KR + IT + ES + MX + BR + ID + MY)**.

**Webull distinctive features**: Free real-time quotes + level 2 advanced market data + paper trading + extended hours trading + fractional shares + options + cryptocurrencies + futures + IPOs + Kalshi prediction markets partnership.

## Users & growth

**Q3 2025**: 25.9M Webull registered users (+17% YoY); **Q2 2025**: 24.9M (+18% YoY); **end-2024**: 23.3M; **end-2022**: 16.2M; **Q3 2025 total revenue +55% YoY + first net earnings positive**.

## Use cases

US (+ 14+ international markets) retail commission-free trading: stocks + ETFs + options + cryptocurrencies + futures + IPOs + Webull Cash Card + Webull IRA + Kalshi prediction markets; distinctive **Webull International expansion** to JP + KR + GB + AU + SG + ZA + HK + IT + ES + MX + BR + ID + MY.

## Implementations & partners

**Operator**: Webull Corporation (NASDAQ: BULL); Wang Anquan founder + CEO; Fumi Technology + Xiaomi-affiliated + Founder Group-affiliated + SK Group + Pacific Square Capital + public float.

**Subsidiaries**: **Webull Financial LLC (broker-dealer; NYSE trading participant)** + **Webull Pay LLC (crypto broker)** + **Webull Securities (HK + SG + AU + ZA + UK + JP + KR + IT + ES + MX + BR + ID + MY)**.

**Major partnerships**: **Kalshi prediction markets partnership (2024)**.

**Major US retail brokerage competitors**: [Robinhood](https://docs.barcoder.ai/docs/wallets/robinhood) (US #1 by app users; commission-free pioneer + crypto + Bitstamp) + [Fidelity Investments](https://docs.barcoder.ai/docs/wallets/fidelity-investments) (US #1 by AUM) + [Charles Schwab (Schwab Mobile + Charles Schwab Bank)](https://docs.barcoder.ai/docs/wallets/charles-schwab) (US #2 post-TD Ameritrade $26B acquisition) + [Interactive Brokers (IBKR)](https://docs.barcoder.ai/docs/wallets/interactive-brokers) (global professional broker) + [E-Trade (Morgan Stanley)](https://docs.barcoder.ai/docs/wallets/etrade) (Morgan Stanley subsidiary) + [eToro](https://docs.barcoder.ai/docs/wallets/etoro) (global social trading + 40M+ users + May 14 2025 NASDAQ IPO) + [M1 Finance](https://docs.barcoder.ai/docs/wallets/m1-finance) (US automated investing) + SoFi Invest ([SoFi](https://docs.barcoder.ai/docs/wallets/sofi) investment arm) + Public.com (US social investing).

**Regulators**: SEC + FINRA + state-level + multi-jurisdiction international.

## Fun facts

- **US commission-free retail brokerage** + **Chinese fintech US brokerage** (Wang Anquan founder; Hunan native + ex-Alibaba + ex-Xiaomi + ex-Founder Group; Webull Chinese name 微牛 "tiny bull").
- **Q3 2025**: 25.9M Webull registered users (+17% YoY); **Q2 2025**: 24.9M (+18% YoY).
- **Apr 11 2025 NASDAQ SPAC listing**: completed merger with SK Growth Opportunities Corporation → publicly trading NASDAQ: BULL.
- **Q3 2025 total revenue +55% YoY + first net earnings positive**.
- **2024 Kalshi prediction markets partnership** — distinctive Webull prediction markets entry.
- **Webull International + 14+ markets**: US + JP + KR + GB + AU + SG + ZA + HK + IT + ES + MX + BR + ID + MY.

## Comparison

| Feature | Webull | [Robinhood](https://docs.barcoder.ai/docs/wallets/robinhood) (US #1 by app users; commission-free pioneer rival) | [eToro](https://docs.barcoder.ai/docs/wallets/etoro) (global social trading + 40M+ users + May 14 2025 NASDAQ IPO rival) | [Fidelity Investments](https://docs.barcoder.ai/docs/wallets/fidelity-investments) (US #1 by AUM rival) | [Interactive Brokers (IBKR)](https://docs.barcoder.ai/docs/wallets/interactive-brokers) (IBKR global professional broker rival) |
|---|---|---|---|---|---|
| Operator | **Webull Corporation (NASDAQ: BULL; Cayman Islands; HQ St. Petersburg FL)** | Robinhood Markets Inc. (NASDAQ: HOOD) | eToro Group Ltd (NASDAQ: ETOR) | Fidelity Investments (FMR LLC; Johnson family-owned private) | Interactive Brokers Group Inc. (NASDAQ: IBKR; S&P 500 since Aug 28 2025) |
| Type | **US commission-free + Chinese fintech US brokerage + 25.9M registered users Q3 2025 + Apr 11 2025 NASDAQ SPAC listing + Webull International 14+ markets + Kalshi prediction markets partnership** | Most-used US stock trading app + 10.8M users + crypto + Bitstamp + UK + EU expansion | Global social trading + 40M+ users in 75+ countries + CopyTrader + multi-jurisdiction regulated | US #1 by AUM ($15+ trillion) + Fidelity Brokerage + Fidelity Crypto | Global professional broker + 170+ markets + 4,368,000 trades/day (DARTs) |
| Country | US + 14+ countries | US + GB + AU | IL + 75+ countries | US | US + 170+ markets |
| Distinctive | **2017 founding by Wang Anquan (Chinese fintech US brokerage; ex-Alibaba + ex-Xiaomi + ex-Founder Group); May 2018 mobile app launch; Apr 11 2025 NASDAQ SPAC listing via SK Growth Opportunities Corporation merger; 2024 Kalshi prediction markets partnership; Q3 2025 25.9M users + +55% YoY revenue + first net earnings positive** | 2013 founding by Vlad Tenev + Baiju Bhatt; Mar 2015 mobile app; 2018 Robinhood Crypto; Jul 29 2021 NASDAQ IPO; 2024 Bitstamp $200M acquisition | 2007 founding by Yoni Assia + Ronen Assia + David Ring in Tel Aviv; 2010 CopyTrader launch; May 14 2025 NASDAQ IPO at $52/share | 1946 founding by Edward C. Johnson II | 1978 founding by Thomas Peterffy; world's largest electronic broker by DARTs |

## Status

**Active, US commission-free retail brokerage + Chinese fintech US brokerage + post-Apr 11 2025 NASDAQ SPAC listing** <sup>[1][1], [2][2], [3][3], [4][4]</sup>:
- **Webull Corporation (NASDAQ: BULL)** since 2017 founding by Wang Anquan in New York City + May 2018 mobile app launch + Apr 11 2025 NASDAQ SPAC listing.
- **Q3 2025: 25.9M Webull registered users + total revenue +55% YoY + first net earnings positive**.
- **2024 Kalshi prediction markets partnership**.
- **SEC + FINRA + state-level + multi-jurisdiction international regulated**.

## Sources

[1]: https://en.wikipedia.org/wiki/Webull "Webull — Wikipedia"
[2]: https://investingintheweb.com/brokers/webull-statistics/ "Webull Statistics — Investing in the Web"
[3]: https://www.fintechfutures.com/stock-exchange-ipos/webull-goes-public-on-nasdaq-following-spac-merger "Webull goes public on Nasdaq following SPAC merger — FinTech Futures"
[4]: https://quartr.com/events/webull-corporation-bull-q3-2025_F6xigSqV "Webull (BULL) Q3 2025 Summary — Quartr"
[us-cro]: https://docs.barcoder.ai/docs/payments/US

- [1] [Webull — Wikipedia][1]
- [2] [Webull Statistics — Investing in the Web][2]
- [3] [Webull goes public on Nasdaq following SPAC merger — FinTech Futures][3]
- [4] [Webull (BULL) Q3 2025 Summary — Quartr][4]
- <sup>[United States report](https://docs.barcoder.ai/docs/payments/US)</sup> In-corpus: `reports/countries/US-united-states.md`

## Source

Biography extracted from [webull.md](https://docs.barcoder.ai/source/wallets/webull). See `matrix.md` for standards-support matrix if present.