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Is Webull available in the UK? Review and Free Shares (2024)

Franklin Silva| Updated February 29th, 2024

You have probably heard about the Webull app on YouTube and want to know if it’s available in the UK, right?

Webull is a modern and easy-to-use investment app from the US which has introduced the concept of commission-free trading in financial products such as stocks and ETFs, alongside its biggest rivals, Robinhood, E*TRADE, and TD Ameritrade.

Want to know if Webull is available in the UK, the company’s expansion plans, and the alternatives available for British investors? We’ve got you covered!

Is Webull Available in the United Kingdom?

Yes, Webull is available in the UK through the subsidiary “Webull Securities (UK) Ltd”. Until now, Webull could only be used in Australia, Hong Kong, Japan, Singapore, South Africa and the United States.

Webull UK CEO Linkedin announcement | July 12th, 2023

The launch in the UK occurred on the 12th of July 2023, but it is still limited in terms of product offering: it only allows you to invest in US stocks and with fractional shares – no access to ETFs, Options and over-the-counter (OTC) securities.

Besides that, Webull is not commission-free in the UK: a 2.5 basis points commission applies in each trade you make.

Below, we dive into Webull alternatives in the UK that offer a wider range of investment products, already regulated by the Financial Conduct Authority (FCA) for several years and with 0% to low commissions.

In October 2022, Webull UK secured its authorisation from the FCA. So, it was a matter of time until it launched in the UK (the company has spent the last months hiring a team with local experience). While its offering will initially be limited to US-listed securities, the Webull UK CEO expects to expand this rapidly, opening new global investment opportunities for retail investors.

Does Webull offer a free share signup bonus in the UK?

No, Webull does not offer a free share promotion for UK users anymore.

The current promotion is as follows:

  • 30 days of commission-free trading for the US market;

For more brokerage offers, check our article on free share offers available in the UK.

Webull App Alternatives in the UK

To help you find a Webull UK equivalent, we focused on low-cost online brokers available in the UK. Here are our suggestions:

eToro

With over 30 million users, eToro is the leading social investing platform (copy and follow other traders/investors). It offers commission-free stock and ETF trading (other fees apply).
Disclaimer: eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.

Interactive Brokers

Founded in 1978, IBKR is one of the world’s most trustworthy brokers. It offers an enormous range of financial products (stocks, ETFs, Options,…), and low currency conversion fees (FX fees).
💡 Interactive Brokers also launched IBKR GlobalTrader, a modern mobile trading app to trade Stocks, Options and ETFs, ideal for novice investors.

Plus500

Plus500 is one of the leading CFD brokers. It offers no commissions when trading CFDs in Indices, Forex, Commodities, Cryptocurrencies, Shares, Options and ETFs. It also recently launched Plus500 Invest for those who want to invest in real shares.
Disclaimer: 82% of retail CFD accounts lose money.

InvestEngine

InvestEngine is a UK-based robo-advisor and investment platform focused on ETFs. It is a great solution for buy-and-hold investors looking to only invest in ETFs for the long term.

Freetrade

The UK equivalent to Robinhood, Freetrade lets you invest in more than 6,000 stocks (from the US, the UK, German, Finland and the Netherlands) and ETFs for free. Offers SIPP and ISA accounts.

All the companies mentioned above are regulated and/or registered with the Financial Conduct Authority (FCA) in the UK.

1# eToro

etoro logo
Visit eToroIs Webull available in the UK? Review and Free Shares (2024) 1

51% of retail CFD accounts lose money.

eToro at a glance

0% Commission(Only on Stocks and ETFs)
Mobile App
ProductsStocks, ETFs and CFDs on Stocks, Commodities, Forex, and Cryptocurrencies
Minimum Deposit$100
RegulatorsFCA, CySEC and ASIC

Founded in 2006, eToro is a well-known worldwide fintech startup and leader in the social trading field (following other people’s trades), with over 30 million users worldwide. You can also invest in other products such as CFDs, ETFs, stocks, commodities, Forex, and cryptocurrencies through its platform, which is intuitive and simple to use, making it a good choice for beginners. It has also started offering commission-free stock and ETF trading in the UK (not all ETFs are commission-free).

Opening an account and depositing is easy, and you can even try it out with virtual money. On the downside, withdrawing money is slow, and spreads can be high for some products, like cryptocurrencies.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 51% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

2# Interactive Brokers

interactive brokers logo
Visit Interactive BrokersIs Webull available in the UK? Review and Free Shares (2024) 1

Interactive Brokers at a glance

0% Commissions
Mobile App
ProductsStocks, ETFs, Bonds, Forex, Funds, Commodities, Options, Futures and CFDs
Minimum deposit£0
RegulatorsFCA, FINRA, SIPC, SEC, CFTC, IIROC, CBI, AFSL, SFC, SEBI, MAS, MNB

Founded in 1978 and publicly listed in NASDAQ (ticker: IBKR), Interactive Brokers is a global online broker which surpassed major financial crises, showing resilience and a rigorous risk management process.

Interactive Brokers offers an advanced investment platform that includes a wide range of products (stocks, options, mutual funds, ETFs, futures, bonds, and currencies) from 150 markets, solid trade execution (IB SmartRouting), and a set of technical and fundamental tools to help you in your investment decisions.

Beginners and intermediate investors have educational tools to explore, but the learning curve will be steep. That´s why we mainly endorse it to more advanced traders. Besides, the customer service gives crystal clear answers to your doubts, so there is no need to go back and forth.

On the downside, Interactive Brokers’ fee structure is quite complex, the registration process is lengthy but fully online, and the broker doesn’t offer commission-free trading. However, when considering FX fees, narrower spreads, and the stock loan program, Interactive Brokers’ clients still get significant savings compared to most brokers.

Interactive Brokers also launched IBKR GlobalTrader, a modern mobile trading app to trade Stocks, Options and ETFs, ideal for beginner investors. Some of the features of IBKR GlobalTrader include automatic currency conversions, fractional shares, demo account, and more.

Want to know more about Interactive Brokers? Check our Interactive Brokers Review.

3# Plus500

Is Webull available in the UK? Review and Free Shares (2024) 3
Visit Plus500Is Webull available in the UK? Review and Free Shares (2024) 1

80% of retail CFD accounts lose money.

Plus500 at a glance

0% Commissions(only in Plus500 CFD)
Mobile App
ProductsCFDs and, on Plus500 Invest, Real Shares
Minimum Deposit£100
RegulatorsFCA, CySEC, MAS, ASIC, FMA

Founded in 2008, Plus500 is an online broker offering a wide range of financial products, including real shares and CFDs on forex, indices, shares, commodities, options, ETFs, and cryptocurrencies. It is available in over 50 countries and is listed on the London Stock Exchange.

There are two distinct account types:

  • Plus500 CFD: It only focuses on CFD products;
  • Plus500 Invest: Where you can trade stocks (real shares);

The web platform you will use is the WebTrader, Plus500’s proprietary platform, offering a stable trading experience and reliable access from multiple devices, including a mobile app. All platforms are accessible and responsive, and you can start testing the features by opening a demo account.

Their customer support is helpful and readily assessed through a chat that is always shown on the trading platform. Their spreads are low, offering accounts in sixteen currencies, including USD, EUR, and GBP. Still, they charge a 0.70% currency conversion fee and a $10 monthly fee following three months with no activity. On Plus500 Invest, they only charge a small commission per trade (US market: $0.006/share).

Finally, it is regulated by financial regulators like the FCA and CySEC, meaning that Plus500 is appropriately supervised and that there is an investor protection scheme under the entity you open an account. For instance, If you open an account as a European investor through Plus500CY Ltd, you are protected up to €20,000. Additionally, Plus500 provides negative balance protection for CFD trading on a per-account basis.

Want to know more about Interactive Brokers? Check our Plus500 Review.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 80% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

4# InvestEngine

investengine logo
Visit InvestEngineIs Webull available in the UK? Review and Free Shares (2024) 1

When investing your capital is at risk.

InvestEngine at a glance

0% Commission(on ETFs)
Mobile App
ProductsOnly ETFs
Minimum Deposit£100
RegulatorsFCA

InvestEngine is a UK-based broker and robo-advisor launched in 2020. It provides users with access to low-cost, diversified portfolios of exchange-traded funds (ETFs) designed to meet their investment goals and risk tolerance. InvestEngine offers both managed portfolios and a do-it-yourself (DIY) option for investors who prefer to build and manage their own portfolios.

Pros:

  1. Low-cost investing: InvestEngine provides a low-cost solution for investing, with competitive fees for both managed portfolios and the DIY option.
  2. Diversification: The platform offers a range of ETFs, enabling investors to create a diversified portfolio tailored to their risk tolerance and investment objectives.
  3. Auto-rebalancing: For managed portfolios, InvestEngine periodically rebalances the portfolio to maintain the desired level of risk and diversification.
  4. User-friendly interface: The platform is easy to navigate and provides helpful tools, such as risk assessment questionnaires and educational resources.

Cons:

  1. Limited investment options: Compared to some other platforms, InvestEngine offers a smaller selection of ETFs. Investors looking for a wider range of investment options might find this limiting.
  2. No individual stocks or bonds: InvestEngine focuses exclusively on ETFs, which might not be suitable for investors who wish to invest in individual stocks, bonds, or other types of instruments.

All in all, it is a great solution for buy-and-hold investors looking to only invest in ETFs for the long term.

Want to know more about InvestEngine? Check our InvestEngine review.

5# Freetrade

Freetrade Review - Freetrade Logo
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Freetrade at a glance

0% Commission
Mobile App
ISA
ProductsStocks and ETFs
Minimum Deposit£1
RegulatorsFCA

Freetrade is a mobile-only commission-free UK stockbroker founded in 2016 that lets you invest in more than 6,000 stocks (US, UK, German, Finnish and Dutch), as well as ETFs, for free.

Freetrade came to revolutionize the traditional brokerage industry. A lot of brokers still present high complexity over their platforms and product offer. Freetrade is on a mission to help customers achieve better long-term financial outcomes and, for that purpose, it wants to be as transparent and trustworthy as possible. Ultimately, their goal is to allow everyone to benefit from wealth creation.

In the Freetrade app, you will not find CFDs and other related complex products; it does not promote day trading and has no hidden fees. The accounting opening process is quick and smooth. The mobile app is remarkably user-friendly. The main drawback is the limited product offering (no options, Forex, CFDs, Commodities or Cryptocurrencies).

As displayed on their website, Freetrade makes money through 3 revenue streams: ISA, £3/month, their premium service (£9,9/month), a fee of 0.45% of the Base FX rate on each US order placed, and a small amount of interest earned from banks on customers’ cash.

They operate under a freemium (free+premium) business model. For £9,9/month, users get extra features, such as limit orders, the ability to set stop loss, more stocks, etc. If you’re interested, you can also read our full Freetrade Review.

Which platform should you choose?

Some factors you should be aware of when choosing an online broker are the fees charged if it is regulated by top-tier institutions such as the FCA in the UK and the range of products it allows you to trade (not all platforms allow you to trade cryptocurrencies or stocks listed on the London Stock Exchange, for instance), among other factors.

The best online broker in your specific case will depend on your profile, preference, and objectives. Explore the websites above and decide for yourself!

A reminder that the above should not be construed as investment advice and should be considered information only. Investors should do their own research and due diligence about the services and opportunities best suited for their risk, returns, and impact strategy.

Happy investing!

Franklin Silva
Co-Founder & Fintech Analyst

Franklin is a CFA Level III Candidate with 3 years of experience in Wealth Management as a Fund Research Analyst and the Host of the "Edge Over Hedge" YouTube Channel.

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