Webull Hong Kong review: who can open an account, fees and protection

Overview

This review covers Webull’s Hong Kong broker, Webull Securities Limited (微牛證券有限公司), and its website webull.hk. The company is a licensed corporation of Hong Kong’s Securities and Futures Commission (SFC) for dealing in securities, dealing in futures contracts and advising on securities, with Central No. BNG700. It is also a participant of the Hong Kong stock exchange (No. 2175) and a direct clearing participant of HKSCC (B02175). The home page says it is a subsidiary of Webull Corporation, which is listed on Nasdaq (ticker BULL). Webull’s companies in other countries are not covered here. The site is only in Traditional Chinese. All facts in this review were checked on 28 October 2026.

Who can open an account

Webull’s account-opening FAQ names three groups: residents of Hong Kong, residents of Macau, and residents of “other regions”, with US residents excluded. Everyone needs a Hong Kong bank account in their own name and must make a first transfer of at least HKD 10,000 (or RMB 10,000 or USD 1,300) to Webull to confirm their identity. Applicants from other regions use an identity card in English or a passport, plus a proof of address issued within three months. Deposits are accepted only from Hong Kong bank accounts.

Mainland China and Taiwan

The FAQ does not name mainland China or Taiwan, so both fall under “other regions”. The client agreement’s rules for Stock Connect say that a client is a Hong Kong or international investor and not a mainland resident, and that a mainland resident must use lawfully owned money held outside mainland China. We found no statement that Webull stopped taking mainland clients. The case that China’s securities regulator (CSRC) opened in May 2026 against foreign brokers names Tiger, Futu and Longbridge companies, not Webull.

Products and markets

You can trade US stocks and ETFs, Hong Kong stocks, ETFs, warrants and CBBCs, China A-shares in Shanghai and Shenzhen through Stock Connect, and Japanese stocks (the market page names the Tokyo Stock Exchange). Webull also offers options, futures, US Treasuries, mutual funds and fractional shares of US stocks and ETFs from USD 1.

Costs

For US stocks and ETFs ordered online in regular sessions, the price list shows a commission of 0 and a platform fee of 0. Orders placed by phone or forced liquidations cost 0.25% (at least USD 15). For the overnight session the platform fee is listed as USD 0.0065 per share (at least USD 0.89) and currently shown as 0. US regulatory fees apply to sales. Hong Kong stocks also show no commission and no platform fee; Japanese stocks cost 0.05% per order, at least JPY 80.

Webull says it charges no fee to convert currencies, but the rate comes from the bank in real time and any margin in it is not published. We found no inactivity or custody fee on the pages we read.

Protection

Clients of Webull Securities Limited are covered by Hong Kong’s Investor Compensation Fund, which pays up to HKD 500,000 per claimant for each default of a licensed intermediary, for products traded on the Hong Kong exchange and, since 2020, Northbound Stock Connect securities. US shares are held through Apex Clearing in an account in Webull Securities Limited’s name; the site names no US protection scheme. Client money is kept separately at Citibank, CMB Wing Lung Bank and HSBC.

Deposits and withdrawals

You can deposit Hong Kong dollars, renminbi or US dollars by bank transfer, by FPS (free and instant, 24 hours a day) or by eDDA direct debit (Hong Kong dollars only, about five minutes, free). Webull charges nothing for deposits, but the receiving bank takes about HKD 15–80 per remittance. Withdrawals go to a bank account in your own name and cost nothing from Webull unless they go to an overseas account; banks charge about HKD 55–150 for local CHATS/RTGS transfers and HKD 125–200 for telegraphic transfers. Money usually reaches a Hong Kong bank account in 1–3 working days.

What we could not confirm

• The licence in the SFC’s own register (it does not allow automated access); the number comes from Webull’s pages.
• The fee tables in the help centre, which are images.
• When Webull Securities Limited was founded and where its head office is.
• Whether Webull accepts new clients living in mainland China: the published rules neither name nor exclude them.

We have not tested this platform with our own account yet; this review will be updated when we do.