Webull Security Brokerage Review

Webull has been around in Singapore for some time now and is the cheapest brokerage firm to use at the moment because it is Free to trade with them. No commission fees and zero platform fees. Of course, normal fees still apply (such as GST, clearing fee, individual country’s fees and other miscellaneous fees) – Usually, quite a small amount.

There have been a number of brokerages to date and all of them are funded by big names. Most likely to get people onboard.

Who is Webull

Webull Securities (Singapore) Pte. Ltd. is regulated by MAS and holds a Capital Markets Services (CMS) Licence to operate here.

In terms of its background, Webull was founded by ex-Alibaba employee Wang Anquan, and its parent company is Fumi Technology – a Chinese holding company with financial backing from Xiaomi, Shunwei Capital, and other private equity investors in China

Welcome Offer

As part of their sign-up offer, you can now get up to USD 130 worth of Tesla shares when you register and trade with Webull.

Keep in mind that the welcome offers change periodically, so be sure to check for their latest promotion before you sign up. (I believe this will end by 14 October 2022 so fastest fingers first)

Now, you have to do the following:

  1. Register for a Webull account first here: Webull sign-up link You will receive a 1-month level 2 US Market Data Subscription
  2. You need to make initial funding of SGD 2000 and execute 1 stock or ETF buy Trade on the USD Market within 30 days. You will receive USD 100 of Tesla fractional shares
  3. If you execute at least 1 option buy trade on the USD market within the same 30 days, you get an additional USD 30 of Tesla fractional shares.

Why Webull

More of a reason to use Webull is their ability to do fractional trading at a minimum about of USD 5. Fractional trading is fractional share is a portion of an equity stock that is less than one full share. As I have always preached about starting to invest early. This is probably the fastest and easiest way to do so by trading in small sums if you are not so confident or if you do not have a lot to start with.

Of course, you still need to do your own diligence but if you have a strategy to collect certain counters, you can certainly do so at a lower quantum now.

Additional Perks

A little additional perk is that you can now open and grab your GRAB Vouchers (S$10) once you sign up. I believe this is probably an additional bonus perk just for signing up.

To sign up, please use my referral code here at Webull sign-up link.

It is just to keep lights running for my blog and domain if you like reading content from me. Do comment below on any stuff or topic that you would like to know more about and I will try my best to bring it to you.

Thank you in advance!

Please note that this is affiliate marketing and I do get a referral from recommending this product. However, I have used this and I quite like their platform which is easy to use. So this is a quick and easy way to make about SGD 140 – USD 190 just simply taking about 30 mins or an hour to do the following steps.

Grab Rewards Points Nerfed

It is pretty sad to see the grab reward items slowly cutting away the perks and double dipping. Understandably, all good things must come to an end and all business have to be concern about their bottom line.

From 14 Oct 2022, everything will change. In short, there’s nothing much to look forward to except:

Using the Amex Cashback Card, UOB Absolut Card and Singapore Airlines Business Credit Card to top up your grab wallet and using the funds to pay for items that does not usually give you any rewards in the first instance. Better than nothing I suppose but even if you don’t do it, I don’t think you will miss out much on the small “rebate”.

What are the changes?

  • From 14 October 2022, you will only get up to 1.2 per cent back in GrabRewards points for every $1 spent on:

Online GrabPay Wallet transactions at Grab’s merchant partners and Grab services or Paylater transactions by Grab.

  • You will no longer get the rate of 1.2 per cent back per dollar spent. Instead, each in-store GrabPay Wallet transaction at Grab’s merchant partners will grant you a chance to win up to 25,000 GrabRewards points. So much for a lottery chance.

  • Then to put the icing on the cake, you will get 0.3% back in GrabRewards points for every $1 spent on GrabPay Card Food & Beverages (F&B) transactions with the following MCC:

  • 5811 – Caterers
  • 5451- Dairy Product Stores
  • 5814 – Fast Food Restaurants
  • 5812 – Eating Places and Restaurants
  • 5462 – Bakeries
  • 5813 – Drinking Places (Alcoholic Beverages), Bars, Taverns, Cocktail lounges, Nightclubs and Discotheques
  • 5441 – Candy, Nut and Confectionery Stores.


It is not unexpected but I must say I have been spoilt by what could be done during the initial phases where Grab was trying out. Now that they met the targeted crowd, it is time to tighten their belts. Someone has got to tell them that if they expect some form of stickiness after a long time of being entrenched into the ecosystem, they are probably not getting it.

Perhaps their data tells a different story but I’m not tell them how to run a business.