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Key Takeways
- Webull Corp. on Monday said it expanded its offerings to include futures and commodities trading, allowing users to diversify their investment portfolios.
- Webull said investing customers also will gain exposure to asset classes such as currencies and indexes.
- The company aims to go public in the second half of the year via a $7.3 billion special purpose acquisition company, or SPAC, deal.
Webull an online trading platform, said Monday it plans to expand into commodities and futures trading, ahead of a planned listing later this year.
The new offerings will focus on highly liquid futures markets with features including market, limit, stop market, and stop-limit orders. Webull said customers will also gain exposure to underlying asset classes such as commodities, currencies, and indexes.
This diversification comes as Webull prepares to go public in a $7.3 billion listing via a special purpose acquisition company, or SPAC, on the Nasdaq exchange later this year.
Expanding into commodities will also give its retail investors access to products like gold, which has hit record highs in the past week.
Webull Group President Anthony Denier said introducing futures trading would give its clients access to “advanced financial products that are typically reserved for institutional investors.”
The U.S. stock market has been hitting new highs this year, rising as have gold prices (GOLD), which touched a new high of $2,185 an ounce at 12 p.m. ET.