A look at Webull, a Chinese-owned no-fee stock trading app whose userbase in the US has grown tenfold this year to over 2M
Even in a year full of surprises on Wall Street, this one stands out: A Chinese-owned brokerage has quietly built one of the fastest-growing retail trading platforms in the U.S. Tweets: @bw , @thestalwart , @miamicohen , and @jessefelder Tweets: @bw : Even in a year full of surprises on Wall Street, this one stands out: A Chinese-owned brokerage has quietly built one of the fastest-growing retail trading platforms in the U.S. https://www.bloomberg.com/... Joe Weisenthal / @thestalwart : A Chinese-owned online trading app called WeBull has been quietly syphoning thousands of users a day away from Robinhood https://www.bloomberg.com/... Cohen / @miamicohen : WeBull is giving away 4 stocks per new account. very expensive client acquisition. And there is always a likelihood users use both. If WeBull really wanted to take on RH's market share they'd offer higher incentive for moving 1k-5k over... this is RH's average account size. https://twitter.com/... Jesse Felder / @jessefelder : ‘The typical Webull client is in their late 20s or early 30s and has about $3,200 in their account. The firm sees 850 transfers from other U.S. brokerage accounts every day, on average, roughly half of which are coming from Robinhood.’ https://www.bloomberg.com/...