Looking for a low-cost broker?
From our last review, the broker scene in Singapore has gotten even more competitive – which is great news for investors.
Webull is still one of the very few brokers in Singapore in 2025 that lets you:
- Trade SGX first-year commission-free (thereafter, commission 0.025%, min SGD0.80); and
- Trade US stocks from as low as US$0.50 / US$0.90 with no platform fee.
In 2025, Webull has also beefed up its cash management offerings (Moneybull, cash funds).
Additionally, its parent company is now listed on Nasdaq as BULL after its SPAC with SK Growth.
Is Webull the best low-cost broker for Singapore investors? Don’t forget to check out the attractive sign-up offers below.
Disclosures: This post is sponsored by Webull. All views and opinions expressed in this post are from Financial Horse.
What is Webull? (2025)
Webull Singapore is a mobile-first, MAS-licensed , custodian broker that gives Singapore users access to US, SGX, HK and China markets, plus in-app cash management tools.
Some of Webull’s key features and advantages:
- User-friendly app
- Competitive fees (first year commission-free for SGX, and zero platform fee for US)
- MAS-licensed
- Custodian model for SGX
- Multi-market: US, SGX, HK, northbound China
- In-app cash management tool (Moneybull)
- Public group: in April 2025, Webull Corporation completed its business combination with SK Growth Opportunities Corp and began trading on Nasdaq under BULL / BULLW / BULLZ.
TLDR: low-fees, multi-market, MAS-licensed, listed parent, custodian SGX.
Fees – Why Webull is extremely competitive
Webull’s current fees for SGX trades are as follows:
| Item | Charge |
| Commission | 0.025% of trade, min S$0.80 (first year commission-free for new SG clients) |
| Platform fee | 0.025% of trade, min S$0.80 |
| SGX clearing | 0.0325% of trade |
| SGX trading | 0.0075% of trade |
| SGX SI fee | S$0.35 per trade |
| GST | 9% on applicable items |
Example – S$5,000 SGX buy (after the free period), all-in fees works out to be about S$5.30.
This is still lower than the effective minimums at Moomoo/Tiger for similar trades in 2025.
US stock fees
- 0.025% (min US$0.50) or US$0.90/order
- Note: Fees charged depends on the selected plan. Plans cannot be changed once selected.
- Platform fee: US$0
- Overnight US trading: 0.03% (min US$0.89) or US$0.90/order.
- US trading activity fees apply on sells. US consolidated audit trail (CAT) fees apply on buys and sells.
So a US$2,000 buy during regular hours can still be US$0.50 before regs and GST.
How it compares
| Broker | SGX (2025) | US Stocks (2025) |
| Webull | 0.025% (min. $0.80) + 0.025% (min. $0.80) + SGX fees + S$0.35 SI; 1-year SG commission-free for new clients | 0.025% (min US$0.50) or US$0.90/order; no US platform fee |
| Moomoo SG | 0.03% + 0.03%, min ~S$0.99 each | 0 commission but US$0.99 platform fee |
| Tiger | 0.03% + 0.03%, min ~S$1 | US$0.005/share, min US$0.99 |
Data as of 6 November 2025.
What can you invest in with Webull?
| You want… | Webull offers… | Notes |
| US stocks / ETFs | ✅ | Extended/overnight, fractional. |
| US options | ✅ | Advanced options rolled out in 2025 (availability can differ). |
| SGX stocks / REITs / ETFs | ✅ | Custodian, not CDP. |
| HK stocks / ETFs | ✅ | Standard HK charges. |
| Northbound China A-shares | ✅ | For CN exposure. |
| Cash / Moneybull | ✅ | Up to 3.92% p.a. 7-day USD yield (Yield as of 5 Nov 2025; principal and returns not guaranteed) |
| Funds / Bonds | ✅ | Funds: 200+ mutual funds available Bonds: 2025 rollout |
Multi-market trading + tools
Webull lets you trade US, HK, and SG stocks/ETFs all in one app.
US options are also supported via level-based permissions.
The platform’s charts are robust (dozens of indicators and drawings) and pair with a capable stock/ETF screener, price alerts, earnings/IPO calendars, and basic options analytics (Greeks and IV).
You can practice via paper trading with live quotes, and subscribe to richer market data like Nasdaq TotalView for full order-book depth.
For idle cash, Moneybull sweeps balances into underlying cash funds and displays a variable 7-day annualised yield.
Moneybull is Webull Singapore’s cash-management tool that auto-invests idle cash into low-risk cash funds (USD or SGD) to earn a 7-day yield while keeping funds tradable.
There’s no Webull platform fee (subscription or redemption fee). Note: yields change with underlying funds and are not guaranteed.
Licensed and regulated
Webull Singapore operates through Webull Securities (Singapore) Pte. Ltd., which is a broker-dealer licensed by MAS.
At the group level, Webull Corporation completed its business combination with SK Growth Opportunities Corp and the combined company began trading on Nasdaq under the ticker BULL (and related tickers BULLW/BULLZ) in April 2025. As a result, Webull Corporation is now a US-listed company, which means it is subject to US public-company disclosure rules.
For Singapore-listed securities, Webull uses a custodian model — shares do not settle into the investor’s CDP account but are held under Webull’s custody arrangement.
For cash/yield products such as Moneybull, note that principal and returns are not guaranteed. This means the rate is indicative and may change.
Funding, Withdrawals, Transfers
Funding and withdrawals with Webull are generally a super quick and efficient process.
Funding is via FAST or eDDA from Singapore banks.
SGD deposits via eDDA/FAST arrive in ~5–10 min after verification.
SGD withdrawals are free locally (USD/HKD withdrawals incur a bank handling fee).
Share transfer-in is free; transfer-out is chargeable (e.g., US: USD150 per symbol + 9% GST).
Webull doesn’t state an explicit conversion fee, FX rate updates frequently and is subject to market movement. Effective cost is the spread.
The 2025 pricing page does not show an inactivity fee.
Why choose Webull?
| Pros | Things to note |
| Very low SGX floor (≈S$5.30 all-in for a S$5k trade) | SGX is custodian-only, not CDP |
| US stock trades from US$0.50 / US$0.90, no US platform fee (currently) | |
| MAS-licensed Singapore entity, and its parent company is now Nasdaq-listed (BULL) | |
| Access to multiple markets | Trade US, Singapore (SGX), Hong Kong (HKEX), and China A-shares (via Stock Connect) |
| In-app cash management solutions | Moneybull is Webull Singapore’s cash-management tool that auto-invests idle cash into low-risk cash funds (USD or SGD) to earn a 7-day yield while keeping funds tradable. |
Concluding comments
For most Singapore retail investors, Webull remains a very sensible broker to open in 2025.
Webull is regulated by MAS and the SGX/US fee floor is very hard to beat.
Most investors today maintain 2–3 brokers.
- A low-cost, user-friendly broker like Webull for day-to-day trades; and
- if required, a separate CDP broker for SGX holdings; and/or
- a global multi-asset broker.
For the Singapore investors who primarily trade SGX, US stocks and China markets, Webull is a great choice with its competitive fees and the user-friendly app makes trading efficient and easy.
Webull Promotions – Don’t miss out on the great offers!
If you’re interested in signing up for Webull, don’t miss out on Webull’s current promotions (from now until 31 Dec 2025)*:
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you can earn up to ~3.5%* p.a. on the daily net deposit (rate depends on amount deposited).
Don’t miss out on the latest promotions here!
PLUS! Additional bonus for FH readers from now until 31 December 2025, get an extra S$30 in AAPL*
*Terms and Conditions apply. For detailed terms and conditions, please refer to Webull’s website at https://www.webull.com.sg/, Webull’s App or the Campaign’s Terms and Conditions. This advertisement has not been reviewed by the Monetary Authority of Singapore.
Disclosures: This post is sponsored by Webull. All views and opinions expressed in this post are from Financial Horse.
The content here is for informational purposes only and should NOT be taken as legal, business, tax, or investment advice. It does NOT constitute an offer or solicitation to purchase any investment or a recommendation to buy or sell a security. In fact, the content is not directed to any investor or potential investor and may not be used to evaluate or make any investment. Do note that this is not financial advice. If you are in doubt as to the action you should take, please consult your stock broker or financial advisor.