A Webull review comes down to one headline and a few footnotes. As at November 2026, Webull Singapore lists US$0 commission and US$0 platform fee on US stocks and ETFs, and a standard commission of 0.025% (minimum S$0.80 an order) on Singapore stocks. It is licensed by MAS as a Capital Markets Services licence holder.
Investing can lose money. Low fees do not reduce market risk, and you can end up with less than you put in. We explain the platform here and do not suggest any investment.
What Webull Is
Webull is a self-directed trading app. The Singapore entity, Webull Securities (Singapore) Pte. Ltd., offers US stocks and ETFs, Singapore stocks, Hong Kong shares, China A-shares, mutual funds, bonds, a regular savings plan and a cash management product. It also offers US options, futures, margin trading and short selling.
It is one of the four app brokers that Singapore comparison sites and creators promote most, with moomoo, Tiger Brokers and Longbridge.
MAS Licence and How Your Assets Are Held
The MAS Financial Institutions Directory lists Webull Securities (Singapore) Pte. Ltd. as a Capital Markets Services licensee. Its licence covers dealing in securities, collective investment schemes and exchange-traded derivatives, product financing and providing custodial services. It is also an exempt financial adviser. Webull states on its site that it holds no licence outside Singapore for regulated activities.
Webull acts as custodian for what you buy. Your SGX shares are not placed in a CDP account in your own name, and we found no CDP-linked option on its site. If holding shares at CDP matters to you, confirm this with Webull before you open an account.
Investments held with a broker are not SDIC-insured. Deposit insurance applies to eligible bank deposits, not to shares, ETFs or funds.
Webull Review of Fees (as at November 2026)
These figures are from Webull Singapore’s pricing page and help centre. GST of 9% applies to its fees.
| Item | Fee |
|---|---|
| US stocks and ETFs: commission | US$0 |
| US stocks and ETFs: platform fee | US$0 |
| Singapore stocks and ETFs: commission | 0.025% of trade amount, minimum S$0.80 per order |
| SGX trading and clearing fees | Charged in addition (SGX sets these at 0.0075% and 0.0325%) |
| Regulatory and exchange fees, other markets | “May apply”, per Webull’s fee schedule |
| Currency exchange | No exchange or conversion fee, per Webull’s help page |
| Market data | US Level 2 and SGX Level 1 listed as free, with conditions |
Webull offers a period of commission-free SGX trading to new clients. We compare on the standard 0.025% rate, because that is what you pay once any introductory period ends.
Several items we could not verify on Webull’s public pages: Hong Kong and China A-share commissions, withdrawal fees, any custody fee and any inactivity fee. The pricing page shows these in sections that did not display for us. Check Webull’s fee schedule under “Others” before relying on a figure from anywhere else.
On currency: “no conversion fee” is not the same as converting at the mid-market rate. Webull says its rates move with the market. The honest check is to compare the rate offered in the app with a live reference rate at the same moment.
The short version: on published fees, Webull is the lowest-cost of the big app brokers for buying US stocks, and its SGX minimum of S$0.80 is low. The trade-offs are custody rather than CDP, and no CPF or SRS route that we could find.
What a Year of Monthly Buying Costs
Our example investor buys US$2,000 of a US-listed ETF and S$2,000 of an SGX-listed share each month for 12 months. Illustration of fees only, using Webull’s published rates.
US order: US$0 commission and US$0 platform fee. Twelve purchases cost US$0 in broker fees. Sales attract small US regulatory fees.
SGX order: 0.025% of S$2,000 is S$0.50, which is below the S$0.80 minimum, so you pay S$0.80. SGX trading and clearing fees add S$0.80. With 9% GST the order costs about S$1.74, or roughly S$20.90 for the year.
At S$2,000 an order, the minimum is what you pay. The 0.025% rate only takes over above S$3,200 an order.
What the example leaves out is the exchange rate on S$ to US$ conversions. If you convert S$2,600 a month, a rate that is 0.2% worse than the market rate costs S$5.20 a month, or about S$62 a year. That figure is a what-if, not Webull’s rate. It shows why the rate deserves a look even when the fee is zero.
Funding, CPF and SRS
You fund a Webull account in Singapore dollars by bank transfer and convert in the app when you buy foreign shares.
We found no facility on Webull’s site to invest CPF or SRS money. If you want to use those, compare brokers that publish a CPF or SRS route, and read our CPF Investment Scheme explainer and SRS guide first.
Drawbacks and Alternatives
- No CDP option that we could find. All holdings sit in custody with the broker.
- Parts of the fee schedule are hard to read from outside. We could verify the US and Singapore stock rates, but not every other charge.
- Zero commission can encourage overtrading. When each trade looks free, it is easy to trade more often. Frequent trading has its own costs, in spreads and in mistakes.
- Leveraged products are promoted in the app menu. Webull’s own risk notice says margin trading losses may exceed your deposits and that options carry significant risk. They are not for money you cannot afford to lose.
Who Webull does not suit
Webull is a weak fit if you want SGX shares in your own CDP account, if you plan to invest CPF or SRS savings, or if you would rather hand over portfolio decisions. Someone who wants a branch or a named trading representative will not find that here either.
Alternatives to compare
- Interactive Brokers publishes its FX cost and charges no custody fee.
- Longbridge lists full fee tables for each market, including third-party charges.
- POEMS has a CDP-linked account and trading representatives.
- StashAway and other robo-advisers manage a portfolio for a yearly fee.
For how these fit together, see our guide to the best investment platforms in Singapore and the best brokers for US stocks.
What To Do Next
- Confirm the licence in the MAS Financial Institutions Directory.
- Read Webull’s full fee schedule in the app or on its pricing page, including the sections we could not verify.
- Before your first conversion, compare the app’s exchange rate with a reference rate.
- Keep emergency cash somewhere stable, such as the options in our T-bills, Savings Bonds and fixed deposits comparison.
