Company Description
Webull Corporation (NASDAQ: BULL) owns and operates Webull, a digital investment platform in the Software - Application industry within the technology sector. According to the company, Webull is built on next-generation global infrastructure and is designed for retail investors who want around-the-clock access to global financial markets through a mobile and desktop trading experience.
Webull states that it serves more than tens of millions of registered users globally and provides investment services through a global network of licensed brokerages in multiple markets across North America, Asia Pacific, Europe, and Latin America. Through this network, the Webull platform offers access to global stocks, exchange-traded funds (ETFs), options, futures, fractional shares, and digital assets. The platform integrates market data and information, a user community, and investor education resources to support what the company describes as informed, self-directed investing.
Business model and platform focus
Webull describes itself as an online brokerage and digital investment platform focused on self-directed investors. Through Webull’s online brokerage, users can trade a range of assets, including securities, options, and futures, and can also access wealth management services. The company highlights low-cost trading and advanced charting tools, real-time market data, and technology-driven features as core elements of its offering.
The company indicates that a significant portion of its revenue is trading-related and that it tracks metrics such as customer assets, funded accounts, options contracts volume, equity notional volume, and registered users to assess engagement and platform usage. Webull’s disclosures explain that growth in customer assets and funded accounts is correlated with trading volumes and revenue, reflecting the importance of active trading and user engagement to its business model.
Global footprint and regulatory framework
Webull states that it offers investment services in 14 markets across North America, Asia Pacific, Europe, and Latin America through its global network of licensed brokerages. In the Asia-Pacific region, subsidiaries such as Webull Securities (Singapore) Pte. Ltd., Webull Securities Limited (Hong Kong), and Webull Securities (Malaysia) Sdn. Bhd. operate under local regulatory regimes, including licenses from the Monetary Authority of Singapore, the Securities and Futures Commission of Hong Kong, and the Securities Commission Malaysia, respectively.
In the United States, Webull Financial LLC is registered as a broker-dealer with the Securities and Exchange Commission (SEC) and as a futures commission merchant with the Commodity Futures Trading Commission (CFTC). It is a member of the Financial Industry Regulatory Authority (FINRA), the National Futures Association (NFA), and the Securities Investor Protection Corporation (SIPC). Advisory accounts and services are provided by Webull Advisors LLC, an investment adviser registered with the SEC. These registrations and memberships frame Webull’s operations within established securities and derivatives regulatory structures.
Product coverage and asset classes
Across its markets, Webull’s trading platform allows users to put investment strategies to work by trading global stocks, ETFs, options, futures, fractional shares, and digital assets. The company has highlighted the launch and expansion of several product areas, including:
- Futures and commodities trading, including crypto futures, through partnerships such as its relationship with Coinbase Derivatives.
- Fixed income offerings, including U.S. government bonds and corporate bond trading for U.S. customers, with bonds subject to liquidity and credit quality criteria.
- Digital asset trading, including the relaunch and expansion of cryptocurrency trading in various markets.
Webull also notes that it has introduced features related to event-based prediction markets through partnerships with regulated exchanges, reflecting its focus on providing access to additional trading instruments where permitted.
Technology, automation, and AI features
Technology is central to Webull’s positioning as a software-driven investment platform. The company emphasizes advanced charting tools, real-time market data, and a mobile-first experience. It has also introduced AI-powered tools, such as Vega, which Webull describes as an AI-powered decision partner that delivers real-time, personalized insights and analysis for investors. Vega’s features include options statistics insights, data summaries, portfolio review, plain-language order entry, and personalized alerts based on watchlists and portfolios.
In addition, Webull has integrated third-party technology such as Level2, a visual, no-code strategy automation platform, directly into the Webull platform. This integration allows traders to create, test, and execute automated strategies using a drag-and-drop interface and real-time backtesting, and to access community-powered insights from strategies shared by other users. In Singapore and other Asia-Pacific markets, Webull has partnered with CQG to provide trading infrastructure and order routing for its futures offering.
User community and education
Webull highlights the role of its user community and investor education resources as part of its platform. The company states that its trading platform integrates market data and information with a user community and education tools to help retail investors understand markets and develop as informed investors. Webull has also engaged in partnerships that emphasize financial literacy, such as its sponsorship of Young Investors Society and its role as that organization’s official online broker, with a focus on educational materials and programs for high school students.
Growth, scale, and key operating metrics
In its public communications and SEC filings, Webull reports on metrics such as total revenues, trading-related revenue, customer assets, funded accounts, registered users, options contracts volume, and equity notional volume. The company has noted periods of growth in revenues and customer assets, as well as increases in funded accounts and registered users. It also discusses adjusted non-GAAP measures such as adjusted operating profit, adjusted net income, and adjusted operating expenses, which it uses internally to evaluate operating performance and underlying trends.
Webull’s management commentary links growth in customer assets and trading volumes to market conditions, product expansion, and user engagement. The company has also described its strategy of investing in geographic expansion, AI tools, and new product offerings while maintaining a focus on profitability and long-term shareholder value.
Risk factors and regulatory considerations
In its Form 6-K and other SEC filings, Webull outlines a range of risk factors that could affect its business. These include the ability to grow and manage growth, reliance on third-party technology and market makers, exposure to changes in interest rates and market volatility, regulatory risks related to practices such as payment for order flow, and the complexity of operating across multiple jurisdictions with evolving political and regulatory environments. The company also notes risks related to cybersecurity, data privacy, cryptocurrency markets, capital requirements, stock exchange listing standards, and potential regulatory inquiries.
Webull’s filings emphasize that forward-looking statements are subject to uncertainties and that actual results may differ from expectations due to these and other factors described in its risk factor disclosures.
Position within the technology and brokerage landscape
Within the broader technology sector, Webull is classified in the Software - Application industry and operates as a digital investment and trading platform. Its focus on self-directed retail investors, mobile and desktop trading, multi-asset access, and integrated data and education tools places it among technology-driven brokerage platforms that seek to combine software, market access, and financial services.
Webull’s global network of licensed brokerages, partnerships with technology and financial institutions, and emphasis on AI-driven tools and automation reflect its approach to building a software-centric investment platform. Investors researching BULL stock can review the company’s SEC filings, earnings releases, and other disclosures for detailed financial and risk information related to Webull’s operations.
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Upcoming Events
Q4 2025 results release
Q4 2025 earnings call
Short Interest History
Short interest in Webull (BULL) currently stands at 19.2 million shares, up 60.3% from the previous reporting period, representing 5.1% of the float. Over the past 12 months, short interest has increased by 4301.7%.
Days to Cover History
Days to cover for Webull (BULL) currently stands at 1.2 days, up 22% from the previous period. This low days-to-cover ratio indicates high liquidity, allowing short sellers to quickly exit positions if needed. The days to cover has increased 22% over the past year, indicating either rising short interest or declining trading volume.