Webull – the China-based fintech firm – is the latest entry in the commission-free trading space along with Robinhood, Square and Fidelity to name several.
These zero commission stock trading apps have enabled the equity bubble in part. A key element of these platforms is fractional share trading which enables retail equity traders to buy slices of stocks rather than purchase full shares. This is significant when you consider young speculators that may not have the capital to purchase a single share of Amazon yet are capable of purchasing a fractional share (i.e. an equity “slice”).
Webull was founded by former Alibaba employee Anquan Wang, (Webull’s U.S. CEO is Anthony Denier). Webull reportedly has more than 2 million brokerage clients compared to Robinhood’s 13 million-plus clients.