History of Webull in Timeline

By Popular Timelines Editorial Team · Updated: May 12, 2025

Webull Corporation is a financial services company headquartered in St. Petersburg, Florida, offering an electronic trading platform accessible via mobile app and desktop. The platform provides commission-free and low-cost trading for a variety of financial instruments including stocks, ETFs, options, margins, fixed income, cryptocurrency, and futures. Webull's key feature is its accessibility and affordability for retail investors, making it a popular choice for those looking to actively manage their investments.

2016: Webull Founded

In 2016, Webull was founded by Wang Anquan under Hunan Fumi Information Technology, a Chinese holding company. That year, Anthony Denier was hired as CEO of the U.S. Webull brokerage. Hunan Fumi Information Technology also received backing from Xiaomi, Shunwei Capital, and other private equity investors in China during 2016.

May 2017: Webull Financial LLC Established

In May 2017, Webull Financial LLC was established.

May 24, 2017: Webull Financial LLC Established

On May 24, 2017, Webull Financial LLC was established as a Delaware limited liability company.

January 2018: Webull Registered as Broker-Dealer

In January 2018, Webull Financial LLC became a broker-dealer registered with the U.S. Securities and Exchange Commission (SEC), FINRA, and all 53 states and territories within the United States.

January 2018: Webull Licensed as Securities Company

In January 2018, Webull became a licensed securities company in the U.S., licensed with the SEC and FINRA.

September 2019: Webull Corporation Established in Cayman Islands

In September 2019, Webull Corporation was established in the Cayman Islands to serve as the parent company of Hunan Fumi Information Technology, the Webull platform, and all Webull subsidiaries.

2019: Webull Corporation Incorporated in Cayman Islands

In 2019, Webull Corporation was incorporated in the Cayman Islands to be the ultimate parent company of all Webull entities.

2019: Controversy Over Chinese Ties

In 2019, Webull received controversy owing to its ties to Chinese companies, with Anthony Denier, Webull's U.S. CEO, describing Webull as "both a U.S. and Chinese company".

May 2020: SEC Approval for Robo-Advisor Launch

In May 2020, Webull received SEC approval to launch a robo-advisor on its platform.

August 2020: Platform User Growth

By August 2020, the Webull platform had over 11 million registered users.

October 2020: Daily Active User Milestone

In October 2020, Webull had 750,000 daily active users.

November 2020: Cryptocurrency Transaction Support

In November 2020, Webull began supporting cryptocurrency transactions.

December 2020: Webull Launched in Hong Kong

In December 2020, Webull launched in Hong Kong.

January 27, 2021: Record High Active Daily Users and App Downloads

On January 27, 2021, Webull recorded its highest-ever number of active daily users, at 952,000, primarily due to events related to the GameStop short squeeze. The Webull app was downloaded across the Apple App and Google Play stores an estimated 100,000 times. Approximately 1.2 million people downloaded the Webull mobile app that week, a 1,548% week-over-week increase.

January 28, 2021: Temporary Halt of Buy Orders

On January 28, 2021, Webull was directed by its clearing house to temporarily halt buy orders for stocks affected by the GameStop short squeeze.

June 2021: Initial Public Offering Talks

In June 2021, Webull began talks of an initial public offering to raise up to $400 million.

September 2021: Partnership with BSE Global

In September 2021, BSE Global, the parent company of the Brooklyn Nets and New York Liberty, entered into a global multi-year agreement with Webull, and the company became the official jersey patch partner for both teams.

2022: Congressional Concerns About Webull

In 2022, Senator Tommy Tuberville led a bipartisan coalition of U.S. senators in introducing legislation to prevent Webull and other Chinese-owned companies from owning crypto exchange platforms.

2022: Restructuring and International Expansion

In 2022, Webull Corporation restructured to move Hunan Fumi Information Technology outside of the Webull group. That same year, Webull launched in Singapore, Australia and South Africa.

2022: Webull Reorganization

In 2022, Webull reorganized to move Hunan Fumi Information Technology outside of the group.

June 2023: Cryptocurrency Trading Moved to Webull Pay

In June 2023, Webull moved cryptocurrency trading to a separate app called Webull Pay.

2023: FINRA Fines Webull $3 Million

In 2023, the Financial Industry Regulatory Authority (FINRA) fined Webull $3 million over the company's response to customer's complaints as well as its failure to conduct due diligence when allowing users to trade options.

January 2024: Anthony Denier Promoted

In January 2024, Anthony Denier was promoted to group president of Webull Corporation.

February 2024: User Base Announcement

As of February 2024, the company has stated it has approximately 20 million users worldwide. Anthony Denier, the company's CEO, claimed that Webull's userbase attracted more advanced and experienced investors than competing platforms, such as Robinhood.

February 28, 2024: Agreement to Publicly List on Nasdaq

On February 28, 2024, Webull announced that it had signed an agreement to publicly list on the Nasdaq through a special-purpose acquisition company deal with SK Growth Opportunities Corporation (NASDAQ: SKGR).

April 2024: Multi-State Inquiry into Webull's Data Handling

In April 2024, attorneys general from 14 U.S. states launched a probe into Webull centered on data privacy concerns and its potential ties to the Chinese Communist Party. Also in April 2024, the Indiana Attorney General initiated a multi-state inquiry into how Webull handles U.S. customer data, given the company's historical ownership and activity within China.

June 2024: Tennessee Bans Webull on Government Devices

In June 2024, the state of Tennessee banned Webull on all government-issued devices.

November 2024: Launch of Extended-Hours Trading

In November 2024, Webull launched overnight, or extended-hours, trading, expanding the trading window of U.S. stocks for its users both inside and outside of the United States.

December 2024: House Committee Raises Concerns Over Webull's Ownership

In December 2024, the United States House Select Committee on Strategic Competition between the United States and the Chinese Communist Party raised concerns over Webull's ownership structure and operation ties to China.

2024: Probe into Webull Over User Privacy

In 2024, a coalition of state attorneys general launched a probe into Webull over user privacy issues and concerns about the company's links to Chinese Communist Party (CCP) interests.

March 2025: Operational Locations

As of March 2025, Webull Corporation operated in Hong Kong, Singapore, Australia, South Africa, Japan, the United Kingdom, the United States, Indonesia, Canada, Brazil, Thailand, Malaysia, and Mexico.

April 11, 2025: Merger Completion and Public Trading

On April 11, 2025, Webull completed its merger with SK Growth Opportunities Corporation and began publicly trading (NASDAQ: BULL).

April 2025: Partnership with Tampa Bay Rays and Tampa Bay Rowdies

In April 2025, Webull announced a 2025 season partnership with the Tampa Bay Rays and the Tampa Bay Rowdies. The partnership includes community initiatives such as hurricane relief fundraisers, financial literacy events with local schools and volunteering.