Webull Malaysia Review 2026: Zero-Commission Trading for MY, US & HK Stocks

What is Webull?

Webull is a modern stock trading platform originally founded in the United States by Webull Financial LLC in 2017. Built for a new generation of self-directed investors, Webull has expanded across multiple markets including the US, UK, Hong Kong, Japan, Indonesia, and — since May 2024 — Malaysia.

In Malaysia, Webull operates as Webull Securities (Malaysia) Sdn Bhd, holding a Capital Markets Services Licence (CMSL No. eCMSL/A0399/2024) from the Securities Commission Malaysia under the Capital Markets and Services Act 2007. This means your trades are executed through a locally licensed broker rather than an unregulated offshore intermediary. Eligible clients are also covered by Bursa Malaysia's Capital Market Compensation Fund up to RM100,000 per claim.

What makes Webull stand out in the Malaysian market is its combination of US$0 commission on US trades, multi-market access (US, Bursa Malaysia, Hong Kong/China stocks), advanced charting tools, and a mobile-first experience that feels more like a fintech app than a traditional stockbroker. For younger Malaysians who grew up on Grab and Touch 'n Go eWallet, the interface feels natural — clean, responsive, and built for smartphones. Webull has since added features like 24-hour US stock trading (launched July 2024) and a Moneybull cash-management feature for idle funds.

The platform is particularly strong for investors whose centre of gravity is US stocks. Its standout edge is zero-commission US trading with no platform fee, paired with deep charting and options tools. Per Webull's own pricing page it also lists Bursa Malaysia securities and Hong Kong/China shares, so in principle you can hold local blue chips and US tech giants in one app — but the US offering is clearly the most mature, and the exact menu of local and HK products can change, so confirm what is live in the app before relying on it.

Webull Malaysia at a Glance

Markets & Products Available

Webull Malaysia's offering is built around US markets, which is where it is strongest and most clearly priced. Per its own pricing page it also lists Bursa Malaysia securities, Hong Kong/China shares and futures from a single account — useful in principle, though the local and HK product menu is newer and can change, so confirm what is live in the app for your account.

How to Sign Up & Claim Welcome Rewards

Opening a Webull Malaysia account takes about 10 minutes of active effort, with verification typically completed within 1-2 business days. Here's the step-by-step process to ensure you qualify for the maximum welcome reward:

1. 1Download the Webull app from the App Store, Google Play, or webull.com.my
2. 2Sign up through the referral link to ensure you qualify for the maximum welcome reward. Register with your email or phone number and create a strong password
3. 3Complete KYC verification — upload your MyKad (front and back) and take a selfie. For foreigners: passport plus valid visa (Employment Pass, MM2H, etc.). Approval takes 1-2 business days
4. 4Open a CDS account — Webull facilitates the opening of your Central Depository System (CDS) account with Bursa Malaysia. This is required for holding Malaysian shares. If you already have a CDS from another broker, you can link it
5. 5Deposit funds via FPX or DuitNow — select your bank, approve the transfer. No minimum deposit required. Funds typically arrive within minutes
6. 6Make your first trade — search for a stock, tap Buy, enter quantity, confirm. Your welcome rewards (free shares and cash coupons) will be credited after you meet the qualifying conditions

Fees Breakdown: The Real Cost of Trading

Webull Malaysia's headline of "zero commission" applies most clearly to US stocks and ETFs — US$0 commission with no platform fee, and 12 months commission-free for new users from account activation. For Bursa Malaysia and Hong Kong/China trades, exchange and regulatory fees still apply and any local commission should be confirmed in-app. There are also currency-conversion costs on non-MYR markets. Here is the full picture.

Malaysian (Bursa) Stocks

US Stocks

Hong Kong Stocks

Webull vs Other Malaysian Brokers

Malaysia has a growing number of online brokers. Here's how Webull stacks up against the main alternatives — Moomoo, Rakuten Trade, M+ Global and Interactive Brokers (IBKR):

The short version: Webull and Moomoo are the two modern, low-cost apps competing for younger Malaysians who want US exposure with good tools. Webull edges ahead on charting, options-chain analysis and US trading hours; Moomoo has the more vibrant in-app community and a slightly earlier Malaysia entry. The two feel very similar day to day — pick the interface you prefer.

For Bursa-first investors, Rakuten Trade and M+ Global remain the natural homes. Both are SC-licensed local brokerages built around the Malaysian market, with transparent MYR pricing (Rakuten Trade and M+ Global both charge low minimum brokerage per trade, typically single-digit ringgit) and no currency-conversion drag. Their charting and global access are more limited than Webull's, but if your portfolio is mostly local counters and REITs, that may not matter.

Interactive Brokers (IBKR) is the heavyweight for serious global investors: the widest market access (US, HK, China, Europe and more), the lowest FX conversion costs (near-interbank), and professional-grade tools. The trade-offs are a steeper learning curve, a denser interface, and the fact that it is a foreign-regulated broker rather than SC Malaysia-licensed — so you rely on US/Irish investor-protection regimes rather than Malaysia's. If you mostly trade US stocks, want a clean app and a local licence, Webull is the easier fit; if you trade many markets and care most about FX cost and breadth, IBKR is hard to beat.

Key Features: Charting, Options & Extended Hours

Paper Trading: Practice Without Risk

One of Webull's most underappreciated features — especially for beginners — is its paper trading simulator. Paper trading gives you a virtual account with simulated money (typically USD 1,000,000) that you can use to practice buying and selling stocks, ETFs, and options without risking a single ringgit of real money.

The paper trading environment mirrors the real market in real time. Prices update live, order execution follows the same logic as real trades, and your virtual portfolio tracks gains and losses accurately. You can place market orders, limit orders, stop-loss orders, and even trade options in paper mode.

Why this matters: The number one reason beginner traders lose money is not understanding how order types work, not having a strategy, and making emotional decisions. Paper trading lets you make all of these mistakes — without financial consequences. You can test a strategy for weeks or months, see how it performs, and only switch to real money once you are consistently profitable in paper mode.

Our Real-World Experience

We have been testing Webull Malaysia since its launch and actively using it for both Bursa and US stock trades. Here are our honest observations from months of hands-on experience:

Common Mistakes New Traders Make

After using Webull and helping others get started, these are the most common mistakes we see among new Malaysian users — and how to avoid each one.

Pros and Cons

Is Webull Right for You? (By Investor Type)

"Best broker" depends entirely on what kind of investor you are. Here's an honest take on how Webull fits five common Malaysian cohorts — including where it is not the right tool.

Who is Webull Best For?

• US-stock investors: Webull's strongest use case. US$0 commission, no platform fee, fractional shares and 12 months free for new users make it a cost-effective way to buy US equities and ETFs from Malaysia.
• Multi-market investors: If you want to own Malaysian and US (and HK/China) stocks in one app, Webull is one of the options worth considering — just verify the live local/HK menu, since the US side is more mature.
• Technical analysis enthusiasts: Webull's charting tools are among the most advanced of Malaysian retail brokers. If you use RSI, MACD, Bollinger Bands, or candlestick patterns, you will appreciate the depth of tools available.
• Options traders: The options chain interface, Greeks display, and multi-leg strategy builder make Webull a strong choice for Malaysians who want to trade US options — among local SC-licensed apps, few match this.
• Cost-conscious investors: US$0 brokerage means more of your money goes into shares, not fees. For frequent US traders, the savings versus traditional brokers add up — though the MYR-USD conversion spread is the cost to watch.
• Young, mobile-first investors: If you are in your 20s or 30s, grew up with apps, and want a modern trading experience rather than a legacy web portal, Webull's mobile app feels like it was built for you.
• Beginners willing to learn: Paper trading lets you practice without risk. The charting tools teach you technical analysis. The wide market access gives you global exposure. But be honest — if you just want to buy one or two Bursa stocks and hold forever, Rakuten Trade is simpler.

Frequently Asked Questions

Final Verdict: 4.3/5

Webull Malaysia is one of the most capable stock trading apps in the country, and it is at its best as a US-stock platform: US$0 commission, no platform fee, 12 months free for new users, deep charting, options tools and extended/24-hour US trading. Its pricing page also lists Bursa Malaysia and Hong Kong/China access, so globally minded Malaysians can keep more of their portfolio in one app — just verify the local and HK menu in-app, since it is newer than the US offering.

The 0.7-point deduction from a perfect score reflects three areas: the currency conversion spread that adds hidden cost to US and HK trades; the relatively short track record in Malaysia (launched May 2024) with a US-first product that is more mature than its local/HK side; and an interface that can overwhelm complete beginners, who may be better served by a simpler platform like Rakuten Trade for Bursa-only investing — or by IBKR if they need the broadest global access and lowest FX costs.

That said, for investors who want the best tools, multi-market access, and zero commissions — Webull delivers. The paper trading feature alone makes it worth downloading, even if you are not ready to invest real money yet.

Our advice: Sign up through the referral link to claim your welcome rewards (confirm the current promo terms in-app). Complete KYC, start with paper trading to learn the interface, deposit via FPX, and begin with a small amount in a US index ETF like VOO. Scale up gradually as you build confidence — and only invest money you can afford to leave untouched for several years.