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
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:
- Register for a Webull account first here: Webull sign-up link You will receive a 1-month level 2 US Market Data Subscription
- 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
- 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.
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.
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.
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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.