Webull is one of the world's most famous trading apps, with millions of users. It has become a massive success due to two main reasons:
- Its low-cost structure (Webull offers commission-free trading);
- A referral program that incentivises users and influencers to share the platform.
If you follow famous financial Youtubers such as Graham Stephan or Meet Kevin, you've heard of Webull many times before.
Is Webull available in South Africa?
Unfortunately, Webull is currently not available in South Africa. The company is only available in the United States and Hong Kong and hasn't shared any plans to expand to other regions.
While South Africa is a vast market, it is highly regulated, and Webull already has some competitors operating in South Africa under a similar business model (which we cover below).
Can South Africans use a VNP to use Webull from South Africa?
No, South African investors cannot use a VPN to use Webull from South Africa. Upon account opening, Webull requires specific documentation as proof that you are a U.S. citizen.
Webull Alternatives in South Africa
- Interactive Brokers: One of the world's most reputable brokers. Recently launched IBKR Global Trader, a user-friendly mobile app that targets beginner investors.
- Nextmarkets. From Germany, Nextmarkets provides access to shares from 52 countries, including US stocks and ETFs, while charging €1 for trades below €250 and nothing for over €250. CFDs are also available. Like Webull, the minimum deposit required is €0.
If you want to open a Webull account, you're in bad luck: it doesn't work in South Africa. However, we believe that any of the brokers mentioned above will be good choices. Whether you value security and reputation or want a commission-free trading platform, the alternatives presented should be a good starting point. Explore their websites and decide for yourself!
Hope you found our breakdown helpful, and please let us know if you have any questions or feedback - we're happy to help!
A reminder that the above should not be construed as investment advice and should be considered information only. Investors should do their research and diligence about the services and opportunities best suited for their risk, returns, and impact strategy.