Webull is a mobile-first digital brokerage platform targeting active retail investors, primarily working professionals who want institutional-grade tools in a consumer app. Webull offers self-directed trading across equities, options, ETFs, futures, digital assets, and prediction market contracts, alongside real-time market data, charting tools, and AI-powered analytics. As of year-end 2025, Webull had 26.8 million registered users and 5.0 million funded accounts globally. Revenue falls into two buckets: trading-related and interest-related. In the U.S., Webull charges zero commissions on equities and options, instead earning payment for order flow (PFOF) by routing customer orders to wholesale market makers like Citadel and Jane Street. Outside the U.S., Webull charges direct commissions. Interest income comes from customer cash sweep programs, margin lending, and securities lending. Webull's economics scale with trading activity and customer asset growth — more active traders drive PFOF and commission revenue, while larger asset balances drive interest income. Customer assets reached $24.6B at year-end 2025. Webull Premium subscribers, though a small fraction of funded accounts, are disproportionately profitable, representing 30% of AUM and 60% of margin balances. Webull is licensed in 14 markets and is expanding internationally by exporting the U.S. retail trading experience to markets where those products are otherwise inaccessible. Webull is also building a B2B business, providing its trading infrastructure to third-party firms, with a partnership with South Korea's Meritz Financial Group as its first announced deal.