US-Based Retail Trading Platforms Are Eyeing Expansion To The UK
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Online trading platforms based in the United States have been expanding their operations to the UK. Some of the most popular US-based platforms that have expanded to the UK include Webull Securities and Public. The two companies have a solid presence in the retail trading market.
Webull Securities expands operations to the UK
On July 12, Webull Corporation, which is behind the Webull trading platform, announced the release of retail brokerage services in the UK. Following this launch, traders based in the UK were able to access the US-listed equities and fractional shares on the platform.
At the time, the CEO of Webull US, Anthony Denier, said that the first expansion of the company into Europe comes after successful launches in the last two years in Australia, Hong Kong, Japan, and Europe. After expanding into these countries, the company was now looking to tap the potential offered by the UK market.
Denier said that the Webull trading platform has become increasingly popular in Hong Kong, Singapore, and the United States. As such, the company was optimistic that the powerful trading tools and mobile format would be attractive to the UK market, with the target clients having a chance to access technological innovations.
Webull UK obtained authorization from the FCA in October last year. The company has since hired an experienced team to head the UK operations. During the first days of this integration, the company’s offerings will be limited to securities listed in the US before expanding to create new global investment opportunities targeting retail investors.
The CEO of Webull UK, Nick Saunders, said, “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.”
Public expands retail brokerage services to the UK
Webull is not the only retail trading platform that has expanded to the UK. Public, a multi-asset investment platform, launched in the UK to mark its first venture outside the US market.
The expansion of the retail broker into the UK seeks to give it a preeminent place to invest in equities that have been listed in the US market. The platform will also provide access to more than 5000 stocks, insights, and deep data. Public will also offer access to a simple and transparent fee structure that does not charge any commissions on trading, with the FX fees being significantly low.
Those based in the UK can create a portfolio on the Public app that supports more than 5,000 equities that are listed in the US. The members can also access features that offer additional data and context, including the metrics of the company.
The co-founder of Public, Leif Abraham, said that London and the entire UK market were a financial hub in Europe, which made the location ideal for the company to start its global expansion.
