Webull, a US stock trading platform with a global presence, has expanded its offerings to traders in Australia by offering 24-hour trading services. However, the service will be limited to trading US stocks and ETFs.
Compatibility with US market hours
According to today's (Friday) announcement, the platform will initially support 24-hour trading of more than 60 popular US stocks and ETFs. This includes well-known stocks like Tesla, Nvidia, Microsoft, Amazon, and Google, as well as sought-after ETFs like SPY and QQQ.
“Traditionally, US market hours have made trading on the world's largest capital market a difficult task for us here in Australia, which has acted as a deterrent for those seeking exposure to international equities,” Webull Australia CEO Rob Talewski said.
“Now, Webull clients can participate and participate as fully as if they were trading local stocks and even take advantage of trading events arising outside of U.S. business hours, such as important market developments, macro events, or important company news.”
At the same time, Webull is seeking expansion and has recently entered several international markets. It is also in discussions with South Korean regulatory bodies to obtain approval to become the first foreign company in the country's stock trading industry.
Trade demand throughout the day
24-hour trading provides traders with the opportunity to execute trades outside the stock exchanges' working hours. With this, traders can benefit from pre- and post-market volatility.
Webull has indicated that its 24-hour trading in Australia will be available from 10:00 to 17:58 AEST, Monday to Friday. This will allow Australian traders and investors to execute orders during the Australian business day, outside of normal and extended US trading hours, within a new trading session – US overnight business hours. It will also guarantee settlement the next day, regardless of the execution time.
“We designed the Webull Australia platform to improve the online trading experience, both for experienced investors and those new to the market, and the launch of 24-hour trading is just an extension of these efforts,” added Talewski.
Around the clock trading has become the norm in all markets. Recently, Interactive Brokers extended trading hours for US Treasuries to 22 hours per day, up from the previous nine hours.
This article was written by Arnab Shomi at www.financemagnates.com.