Webull: the only independent overseas personal bank that can provide customers with
The root cause of this phenomenon is of course foreign exchange control, but one of the detailed reasons is that the United States or Hong Kong has not established a three-party depository and bank-securities transfer system. Dealing with the company bank account of an overseas securities firm, that is:
Client’s domestic personal bank account “Withdrawal – Deposit” Corporate bank account of an overseas brokerage
According to the domestic foreign exchange control regulations, domestic individuals cannot remit money to the company accounts of overseas brokers, resulting in many domestic US stock investors unable to deposit money; Domestic banks do not allow the account to be processed, and can only be returned. . . All these have wasted the energy and time of many domestic US stock investors.
How to solve this problem? That is to open a personal bank account of your own abroad, such as opening a personal bank account in Hong Kong, so that it can be used as a transit channel, avoiding foreign exchange control to a certain extent, and the flow of funds in and out becomes :
Client's domestic personal bank account "transfer out - transfer in" Overseas personal bank account "withdrawal - deposit" the corporate bank account of the overseas securities firm
But now it has become very difficult to open an overseas personal bank account in China. With the strengthening of foreign exchange control, many Hong Kong banks have raised the threshold for opening an account, or have delayed the processing time for a long time. . .
Webull : The only US stock brokerage that can provide customers with independent overseas personal bank accounts
Webull has cooperated with an investment bank in Denmark to become the only US stock brokerage in the market that can provide customers with independent overseas personal bank accounts.
The trading software of Webull Securities is developed by Fumi Technology. Fumi Technology is a Xiaomi financial ecological chain company, focusing on overseas technology financial business. In 2016, Xiaomi Technology and Shunwei Fund jointly invested 50 million yuan in Fumi Technology.
2018 Update: On January 30, WEBULL FINANCIAL officially settled at 44 Wall Street.
WEBULL FINANCIAL US brokerage license inquiry address: https://brokercheck.finra.org/firm/summary/289063
It is understood that Webull Securities is a subsidiary of Fumi Technology, a financial technology company in the securities field. Fumi Technology was established in February 2016, focusing on providing securities market transactions and data services for global individual investors.
The reporter learned that as early as June 2017, Anthony M., a Wall Street executive with more than 20 years of experience in financial business, compliance and trading, worked for Credit Suisse, LXM Group, Fidelity, UBS, Goldman Sachs, KCG and other financial companies. Denier and Lu Sheng joined Fumi Technology as CEO and COO of Webull Securities.
How to open a Webull Securities account (including a Danish personal bank account)?
You only need to submit an account opening application at Webull Securities, and after completing the account opening review, you will be able to obtain an independent personal bank account provided by a Danish licensed bank under your own name; It is much smoother, because you are sending money or withdrawing money to an overseas personal account, rather than an institution's corporate bank account.
The process of applying for a Webull account of Webull Securities (also equipped with a Danish personal bank account) is very simple. For the specific account opening process, you can refer to this tutorial: Webull Securities Webull Account Opening Tutorial (PDF format document, right-click "Save As" and save it to your local computer open later)
To put it simply, first verify the mobile phone number on the Webull official website:
It should be noted that the work unit information must be filled in completely, and it is best not to fill in financial or government-related work, and do not fill in freelance or unemployed. Whether you currently live at the changed address.
After completing the account opening process and submitting it, it usually takes 1 to 2 working days to pass the review. Webuu Securities will send you an account opening email, which contains the specific information of the personal bank account in Denmark, and prompts you to go to Set the login password of this personal bank account in Denmark, and after the modification is completed, you can deposit money.