Webull began offering eligible customers nano-sized S&P 500 and Nasdaq-100 futures on Sept. 14. Second-quarter revenue rose 51% year over year to $198.8 million and trading revenue climbed 66%, but the company has not disclosed futures’ revenue contribution.
Each nano contract is one-tenth the size of a Micro E-mini. Customers need an approved futures account, and trading is subject to margin, risk and jurisdictional limits. Webull also launched in Spain, Argentina and Colombia and is licensed in 35 markets. For the quarter ended June 30, options volume reached 213 million contracts, up 34% from the prior quarter; customer assets rose 79% year over year to $28.5 billion.
Registered users rose 13% to 28.2 million, compared with 8% growth in funded accounts to 5.13 million and 7% growth in net deposits. The article argues this gap suggests revenue gains leaned more on existing customers’ trading activity. Adjusted operating expenses rose 26% to $136.2 million, while pretax income was $34.7 million, versus a $21.4 million loss a year earlier.
