Webull Singapore Referral Promotion + Review

Enjoy Tech. Enjoy Investing.

Promotion period: till 1 Feb 2023 15:59 SGT

Sign up with Webull Singapore and stand to receive ‘Welcome Rewards’. Notable benefits include:

  • Up to US$150 cash vouchers
  • 1-month of Level 2 US market data subscription (Nasdaq TotalView)
  • 1-year Cboe Global Indices Feed (CGIF) subscription
    • claim via the Webull App under “Promotion Center”. The 1-year period for the complimentary CGIF subscription starts from the day of claim.
  • 1-month complimentary Options Price Reporting Authority (“OPRA”) subscription
    • only for accounts approved to trade options

Terms and conditions apply.

PDF guide: How to Open an Webull Account and and deposit money

Note: The referral link shared here is only for Singapore based clients signing up with Webull Singapore.


1. Disable pop-up and ad blockers

After you click on “Sign Up” from the Webull sign up page, you should see a form to sign up with your mobile number. If you do not see it, try using a different web browser or disable your pop-up and ad blockers.

register for a Webull account with your mobile number
Register for a Webull account with your mobile number

2. Terms and conditions for ‘Welcome Rewards’

To avoid missing out on the welcome gifts, please take note of the following:

To receive the first $50 trading voucher, you need to:

  • successfully make an initial minimum deposit of SGD2,000 (this refers to your first ever funds deposit) within the Campaign Period and maintain a Net Cumulative Deposit of at least SGD2,000 for a holding period of at least 30 calendar days.
    • Net Cumulative Deposit = Accumulated deposit amount – Accumulated withdrawal amount, capital gains & losses are excluded.
  • execute at least 1 Stocks or ETFs buy trade with a minimum Trade Value of USD100 within the 30-day holding period
  • execute at least 1 confirmed Mutual Funds subscription within the 30-day holding period

After fulfilling the above, you can receive another $100 trading voucher if you:

  • execute an additional 1 Options buy trade with no minimum Trade Value on the US market, within the same 30 calendar days from the date the initial deposit is settled

See complete Terms and conditions.

Table of Contents

About Webull

Webull is a fast-growing global FinTech online brokerage with over 20 million app downloads! Enjoy real-time free market data, 0 commissions, 0 platform fees and 0 membership fees for US stock trading.

Founded in 2017, Webull Financial LLC is a Chinese-owned stockbroker headquartered in New York. It is owned by Fumi Technology, a Chinese holding company that has received backing from Xiaomi, Shunwei Capital, and other private equity investors in China.

In May 2022, Webull launched in Singapore and operates under Webull Securities (Singapore) Pte. Ltd. (“Webull”) (UEN: 202116981M), a Capital Markets Services Licence holder under the Securities and Futures Act 2001, licensed and regulated by the Monetary Authority of Singapore.

Webull aims to expand and serve the Asia Pacific (APAC) region, starting with Singapore as their APAC Regional Headquarters.


Webull options poster

  • Investopedia: Best Broker for Low-Cost Options Trading (2022)
    • “Webull has offered some of the lowest cost options strategies in the industry, alongside a robust set of tools at no cost to its customers. As one of the lowest-cost brokers around, Webull stands out for extending affordability into the options market.”

Need reasons to choose Webull?

All-in-one self-directed investment platform

The Webull investment platform provides a quality user experience with advanced tools and services.

Key features include:

  • true zero commission
  • free real-time quotes
    • NASDAQ TotalView and NBBO quotes to help investors better understand the market’s demand and supply
  • full extended hours trading
    • 16 hours of trading in US market hours
  • 24/7 in-app help centre
  • analysis and trading tools
    • intuitive charting tools on the Webull App allow investors to analyse and tap into investment opportunities.

Licensed by MAS

Webull Securities (Singapore) Pte. Ltd is regulated by the Monetary Authority of Singapore (MAS).

True zero commission trading

Webull commission poster

For US market, Webull offers true zero commission trading, unlike its competitors, this means:

  • No commission fees
  • No platform fees
  • No settlement fees
  • No membership fees
  • No contract fees
  • US Stocks, ETFs and Options related fees charged by regulators, exchanges and third-party institutions may still apply.
Pricing comparison table between Webull and its competitors
Pricing comparison table between Webull and its competitors [Jun 2022]
Complete and latest pricing information can be found here.

Webull Community

Webull Singapore will create a community for like-minded investors, educating and empowering them with the best-in-class tools and information to make better investment decisions.

Trading Features

Fractional shares trading

Webull fractional shares trading poster

Fractional shares trading is a useful feature not every brokerage offers. It allows investors to invest in expensive stocks without being overweight on the particular ticker.

Webull supports fraction shares trading from as low as 5 USD.

Index Options

Index Options allow investors to trade options on an entire market index to seek either profit or protection from price movements in that market. Learn more about Index Options from Webull’s education micro-site.

Mutual funds trading

Mutual funds trading was added to Webull in December 2022. The offering is broadly categorised into:

  • Cash Funds
  • Equity Funds
  • Fixed Income Funds
  • Multi Asset Funds
What are Mutual Funds?

A mutual fund is a professionally managed investment vehicle, and the portfolio can consist of various asset classes like stocks, bonds and/or other financial assets.

Mutual funds allow individual investors to access a portfolio of various assets without actually owning all the securities in the portfolio the fund invests in.

It also provides investors with diversification and is usually categorised into different themes or investment objectives.

Learn more about Mutual Funds from Webull’s education micro-site.

Take-Profit/Stop-Loss Orders

A new feature added to the Webull trading platform in January 2023.

A Take-Profit/Stop-Loss order is used to exit an existing position and can only be placed during regular trading hours.

  • A Take-Profit order is used to protect profit on an existing position once the stock reaches a specified price. It is filled as a limit order when triggered.
  • A Stop-Loss order is designed to prevent further losses on the existing position once the stock reaches a specified price and is filled as a market order.


  • It is possible that a Stop-Loss order may be filled at a price much different from the pre-determined price, especially in a volatile market
  • A target price should be set in both Take-Profit Orders and Stop-Loss Orders. When one of them is filled, the other is automatically cancelled.

Learn more about Take-Profit/Stop-Loss Orders from Webull’s education micro-site.

Experience sharing

How to register and open a Webull account

Step 1: Clicking on the referral link will open the Webull registration page in a browser window.

Webull sign up page
Webull sign up page

After you click on “Sign Up” from the Webull sign up page, you should see a form to sign up with your mobile number. If you do not see it, try using a different web browser or disable your pop-up and ad blockers.

register for a Webull account with your mobile number
register for a Webull account with your mobile number

Proceed to register for a Webull account using your mobile number.

Registering simply provides you with login capabilities to the Webull app platform. Your trading account is not opened yet at this point of time.

Step 2: Download the Webull app and login with the account created in the previous step.

Step 3: Within the Webull app, select “Open Account” (middle tab at the bottom of the screen), and follow the steps.

  • I logged into SingPass MyInfo to autofill some parts of the forms.
  • the entire process of filling up the forms took about 10 minutes.
  • I tried to omit my company name and occupation details but those fields were mandatory.

After completing the above steps, Webull will review the account opening application.

How long does account opening approval take?

I submitted my account opening request on 20 May 2022 (Sat) @ 23:00 PM, and my account was approved on 21 May 2022 (Sun) @ 1:40 PM.

Webull instant account approval

Funding your Webull account

After your account is approved, the middle tab at the bottom of the screen will be replaced by a Webull logo. Tap on it and follow the instructions to set a trading password. The trading password is a 6 digit PIN.

Webull funding steps

After setting your trading password, you will be able to fund your account.

Funding options are:

  • eDDA Deposit (recommended)
    • for SGD (zero charges)
    • links your Webull account to a bank account to allow direct debit via eGiro. Banks supported are:
      • Bank of China
      • DBS
      • ICBC
      • Maybank
      • OCBC
      • Standard Chartered
      • UOB
  • FAST
    • for SGD
  • Telegraphic Transfer (TT)
    • for SGD, USD, HKD

I used the recommended option of eDDA. Following the on-screen instructions, I logged in to my DBS internet banking to set up the eGiro arrangement.

After the eGiro was set up, I managed to fund my Webull account within seconds.

Clarifications on ‘Welcome Rewards’ promotion mechanics

Are fractional share trades eligible to qualify for the welcome rewards?

[25 May 2022]: I asked Webull via the in-app ‘Help Center’ and they confirmed that fractional share trades are considered qualifying trades to meet the requirements to receive the welcome rewards.

“Trading in fractional shares counts as a qualified transaction. You need to meet the requirement of the holding amount over SGD 2000 in the holding period of 30 days at the same time. You also need to make 5 qualified transactions in total during the holding period.”

Do I qualify for welcome rewards if I deposited S$2000, bought some shares, and my portfolio subsequently fell below S$2000?

[25 May 2022]: I asked Webull via the in-app ‘Help Center’ and they confirmed that the ’total deposit amount’ minus the ’total withdrawal amount’ needs to be not less than S$2000 during the holding period of 30 days.

So you do not have to be worried if you deposited exactly S$2000 and the price of the shares you bought fell, causing your portfolio value to dip below S$2000.


NBA Brooklyn Nets sponsor

Did you know that Webull is the official jersey patch partner for the Brooklyn Nets beginning with the 2021-2022 NBA season?

Webull sponsors Brooklyn Nets
Image source: webull.com

No trading support for Singapore market (SGX)

As of launch date in May 2022, Webull does not support trading in the Singapore market (SGX). Hopefully they will add this capability soon.

Responsive ‘Help Center’

From my experiences in May 2022, the ‘Help Center’ responded to my queries within an hour which I feel is pretty good.

Webull Desktop App

In September 2022, Webull launched its Webull Desktop App. As an alternative to the mobile app for users who prefer the big screen, it offers:

  • A fully customisable trading experience
  • Powerful, easy-to-use trading widgets
  • Flexible charting tools

Educate yourself on investing

I would strongly recommend you register a FREE account with SGX’s Online Education Programme and complete the basic courses first if you are new to investing.

Staying safe from scammers

Be wary of scams that can take place in the form of online stock recommendations from unofficial sources or informal chat groups.

Scammers might impersonate real people from genuine financial services firms to tempt you into investing in any recommended stocks/investment products. Some scammers might use spoofed or unofficial social media accounts to spread and disseminate false information.

You can protect yourself and others by observing the following:

  • Change your privacy setting in your messaging apps to prevent others from adding you to random investment chat groups.
  • Be wary of stock tips/ recommendations from unofficial sources (e.g. Social Media platforms/Messaging App)
  • Do your research before investing in any investment product
  • Check the credentials of the supposed company or representatives using sources such as MAS Financial Institutions Directory, Register of representatives and Investor Alert List.


All investments involve risks and are not suitable for every investor. The value of securities may fluctuate and as a result, clients may lose more than their original investment.

Margin trading increases the risk of loss and clients’ losses may exceed the deposits placed. The past performance of a security or financial product does not guarantee future results or returns.

Keep in mind that while diversification may help spread risk it does not assure a profit, or protect against the loss, in a down market.

There is always the potential of losing money when you invest in securities or other financial products. Investors should consider their investment objectives and risks carefully before investing.

Any reward including shares, fractional or otherwise, which are received via any promotion campaign does not constitute as an invitation, inducement, recommendation, suggestion, or solicitation to investing.

Web Administrator

While we do our best to maintain up to date information on the available referral promotions, their terms and conditions do change frequently. We do not warrant, endorse, guarantee, or assume any responsibility for any loss caused by content on this website. Content may contains affiliate links, and at no cost to you, we may earn a commission when you click on them.