Webull expands into futures trading while Public.com shuts down UK operation
“By introducing futures trading, we are extending Webull’s legacy of democratizing access to advanced financial products that are typically reserved for institutional investors.”
Webull has expanded its trading offerings to include futures and commodities trading, aiming to provide traders with the ability to diversify their portfolios or hedge against market moves through a low-cost and seamless trading experience.
The platform now offers access to a variety of futures contracts, covering commodities, equity indexes, cryptocurrencies, and more. This move allows traders to leverage extended trading hours, increase their leverage, and keep costs low.
Webull, a CFTC-regulated futures brokerage
Webull emphasizes its competitive edge with free access to leading market data, low margin requirements for popular contracts, competitive commission rates, and transparent costs without hidden execution fees. The platform assures its reliability and trustworthiness by being a registered Futures Commission Merchant with the Commodity Futures Trading Commission (CFTC) and a member of the National Futures Association (NFA).
Anthony Denier, Group President at Webull, said: “By introducing futures trading, we are extending Webull’s legacy of democratizing access to advanced financial products that are typically reserved for institutional investors. At Webull, we aim to provide diversified portfolio options and access to coveted products that exemplify commitment to our customer’s financial success in the dynamic world of trading and investment. We are excited about our expansion into futures trading and will continue to provide innovative, advanced, and cost-effective products to our valued customers.”
Arianne Adams, Chief Strategy Officer and Head of Derivatives at Webull, added: “Webull’s expansion into futures provides users with a cost-effective solution to a derivatives product that has been traditionally difficult to access, further establishing the company as a leader in retail investing. Understanding the significance of using futures is beneficial to all investors looking to diversify their portfolios, and Webull is proud to not only offer this opportunity, but also educational tools and resources for those unfamiliar with this market.”
Public.com shuts down UK operation to refocus on the US market
On the other side, Public.com, a direct competitor to Webull, has scaled back its operations within the UK only a few months after initiating its launch as part of a broader European expansion. This strategic retreat is part of a review of their wider European expansion plans, indicating a reevaluation of their international market strategies.
Unfortunately, specific details regarding Public.com’s decision to retreat from the UK and its implications on their European expansion plans were not found in the sources reviewed.
A Public.com spokesperson elaborated on the reasons behind this strategic pivot, citing the platform’s rapid growth in the US market, fueled by recent introductions such as a high-yield account offering five percent interest, corporate bonds, and options trading. This success led to the decision to refocus efforts and resources on the US market, the spokesperson claimed.
The international expansion of Public, now being reviewed, followed a $300 million funding round with investors including Accel, Greycroft, Lakestar, Maria Sharapova, and JJ Watt, the new owner of Burnley FC. The move raises questions about the future of Public.com’s London office and its employees. The company, which is based in New York, also has operations in Amsterdam and Copenhagen.
