Webull launches FCA-regulated brokerage in UK led by Nick Saunders
“The investment market has changed in the last 10 years. The British public is now actively seeking low-cost investment opportunities domestically and in markets outside the UK.”
Webull Corporation has announced the launch of its retail brokerage services in the United Kingdom via Webull Securities (UK) Ltd., an FCA-regulated subsidiary of Webull.
Webull UK allows residents of the UK to trade U.S.-listed equities and fractional shares at low commissions through the Webull app, which also features news, industry data, and educational materials to provide investors with the tools needed to make informed investment decisions.
The authorization from the Financial Conduct Authority was secured in October 2022 as the brokerage firm was getting ready for the UK launch, including spending the last six months hiring a team with local experience.
Webull UK’s offering will initially be limited to U.S.-listed securities, but it has plans to expand the product range and open new global investment opportunities for retail investors. As an example, Webull opened in Japan in April 2023 with a US stocks offering, but two months later announced the launch of Japanese securities.
Nick Saunders at the helm of Webull UK
FX & CFD industry veteran Nick Saunders leads the UK operation of Webull. The executive was appointed in September 2021 to get the broker ready for the 2023 launch, including securing an FCA license and the hiring process.
Webull UK snatched Nick Saunders from Gain Capital, where he was Head of Cash Equities for only six months. Prior to that, he led Trading 212 to prominence as CEO (UK) for over six years.
He was responsible for the launch of deliverable equities with zero commission at Trading 212. The Bulgarian retail FX brokerage generated a stir in London, hot on the heels of the launch of its physically deliverable equities product range.
At the time, UK mainstream news outlets reported that “for the first time in the UK’s history, anyone wanting to dabble in shares can trade away without having to pay commission as Trading 212 launches its share trading platform today.”
From 2005 to 2011, he played a number of roles at IG, including Managing Director of Singapore and Head of International Operations. He’s been with Webull UK for nearly two years now.
Nick Saunders, Chief Executive Officer of Webull UK, stated: “The investment market has changed in the last 10 years. The British public is now actively seeking low-cost investment opportunities domestically and in markets outside the UK. Webull’s strength is in our global network and innovative mindset; we look at the right solution for our clients, and seek to build on the existing, sustainable foundations to give our customers the product they want. As a pure broker, our interests are aligned with our clients. We provide the tools to help them make informed, global investment decisions.”
Anthony Denier, Webull US CEO and responsible for operations in America and Europe, commented: “Our first step into Europe follows on the heels of successful launches over the past two years in Singapore, Australia, Japan, and Hong Kong. While each country has very different requirements and expectations, we believe there is great potential in the UK and look forward to rapidly expanding our product range to cater to our British clients. Webull’s trading platform has become very popular in the United States, Hong Kong, and Singapore, and we are confident that the powerful trading tools and simple mobile format will prove equally attractive in the UK. We are sure our new clients will enjoy tech and enjoy investing.”
Webull UK follows broker launch in Singapore, Australia, Japan, Hong Kong, South Africa
The Webull trading platform launched in the United States in 2018 through its SEC-registered broker-dealer and FINRA member subsidiary. In 2021, Webull was the second most downloaded app among pure-play brokerages in the U.S., according to mobile and data analytics firm App Annie.
Webull serves tens of millions of users from over 180 countries, providing retail investors with 24/7 access to financial markets worldwide. Users can put investment strategies to work by trading global stocks, ETFs, options, and fractional shares, through Webull’s trading platform, which is currently available in the United States, Hong Kong, Singapore, Australia, South Africa, and Japan.