Webull Securities has launched its retail brorkerage service which offers fractional shares in more than 5,000 US-listed equities via its online app.
,“We believe there is great potential in the UK and look forward to rapidly expanding our product range to cater to our customers in the region,” said Webull CEO Anthony Denier.
,It is joined by multi-asset investment platform Public whose UK launch is its first venture outside the US market. The app offers trading in US equities as well as data analysis and zero-commission trading.
,“London and the broader UK market has always been the financial epicenter of Europe, so it’s a natural place for Public to start our international expansion,” said Leif Abraham, co-CEO and co-founder of Public.
,The online, retail stock trading market was boosted considerably during the lockdown caused by Covid-19 and platforms such as RobinHood saw a massive upturn in users and volumes.
,This has consequently led to a rise in the number of online platforms and apps offering commission-free trading.
,The potential of the UK online investment market was highlighted when asset manager Abrdn paid £1.5bn to acquire platform interactive investor back in 2022.
,It remains to be seen whether new entrants can compete in the congested UK marketplace which includes well-established offerings from brokerages such as AJ Bell and Hargreaves Lansdown as well as fintech challengers like Revolut.
