Webull Referral Link: https://www.webull.com.sg/i/refersg

​

Webull Promotion: Sign up with Webull referral code: REFER.SG to get rewards worth up to USD 600 Apple (AAPL) shares for NEW USERS! Webull Singapore T&Cs apply.

​

More details at: https://refer.sg/webull-promotion/

​

Terms and ConditionsBy participating in this Welcome Promotion (the “Campaign”), each Applicant is deemed to have read, understood and agree to be bounded by the following Terms and Conditions of the Campaign and the terms and conditions of any other agreement(s) that you may have entered into with Webull Securities (Singapore) Pte. Ltd. (“Webull”).Definitions1. In this Terms and Conditions, unless the context otherwise requires:
1.1. “Campaign Period” means the duration in which the campaign is active, as may beamended by Webull from time to time; and
1.2. “Account” refers to a Webull brokerage account.
1.3. “Participant” refers to an individual who is eligible to participate in this Campaign;The Campaign Period
2. This Campaign is organised by Webull and is valid from 31/03/2025 16:00 SGT – 30/04/202515:59 SGT (both dates inclusive) (the “Campaign Period”).Campaign Eligibility
This Campaign is applicable to members of the public (the “Applicants”) who:3.1. have not successfully funded their Account prior to the Campaign Period; and3.2. must not have previously opened an Account which was subsequently closed.
Webull employees, representatives and agents are not eligible for this Campaign.
Unless otherwise stated, Participants of this Campaign may also concurrently take part inother campaigns and promotions organised by Webull.Campaign MechanicsRegistration Rewards
Applicants that have successfully registered for an Account via the Webull App or Webull website (https://www.webull.com.sg/) will receive a complimentary 1-month subscription to Level 2 US market data, also known as Nasdaq TotalView and a 1-year subscription to Cboe Global Indices Feed (“CGIF”).
Applicants will automatically receive the Nasdaq TotalView market data when they have successfully registered. The 1-month period for this complimentary subscription starts from the day they are successfully registered and remains valid for 30 days.
7.1.  For example, an applicant successfully registered on 10/01/2025. The applicant willgain access to the complimentary 1-month Nasdaq TotalView subscription on10/01/2025 and the last day of complimentary access will be on 08/02/2025.
7.2.  Once the complimentary 1-month Nasdaq TotalView subscription ends, theapplicant’s access will be switched to Nasdaq Basic subscription, a permanent free subscription, unless the applicant chooses to continue the Nasdaq TotalView subscription on the Webull App at SGD3.98/month.
Applicants can extend their complimentary subscription to Level 2 US market data, also known as Nasdaq TotalView, for another 30 days if they execute at least 1 US Stock trade every calendar month. The complimentary subscription will be terminated once the applicant fails to execute at least 1 US Stock trade within the calendar month.8.1. For example, if the applicant’s complimentary subscription terminates on 08/02/2025, the applicant must execute at least 1 US Stock trade before 08/02/2025 to extend the

complimentary Nasdaq TotalView subscription.
8.2. Within a calendar month, Applicants can only extend the complimentary subscription

once for an additional 30 days by completing at least 1 US Stock trade.
8.2.1. For example, if the applicant’s complimentary Nasdaq TotalView subscription is set to expire on 08/02/2025, and they execute 1 US Stock trade on 05/02/2025 and

another US Stock trade on 07/02/2025, the applicant will successfully extend their Nasdaq TotalView subscription for an additional 30 days. In this case, their subscription will be extended for another 30 days after the additional Nasdaq TotalView is successfully issued to the applicant. The additional Nasdaq TotalView will be issued to the applicant within 2 calendar days after they complete the requirement in a calendar month.

9. The complimentary Nasdaq TotalView subscription will be reactivated if the applicant executes at least 1 new US Stock trade in a calendar month.
9.1. For example, if the applicant’s complimentary Nasdaq TotalView subscription was

terminated on 08/02/2025. If the applicant executes 1 US Stock trade on 11/02/2025, the applicant’s complimentary Nasdaq TotalView subscription will be reactivated for another 30-day period. The Nasdaq TotalView subscription will be issued within 2 calendar days.

10. Applicants can claim their complimentary CGIF subscription via the Webull App under “Promotion Center”. The 1-year period for the complimentary CGIF subscription starts from the day the applicant claims their complimentary CGIF subscription.
10.1. Once the complimentary 1-year CGIF subscription ends, the applicant’s

access to CGIF will be removed unless the applicant chooses to continue the CGIF

subscription.
11. Applicants who have tapped on the “Claim Now” button under My Rewards in the Webull

App during the Campaign Period will also receive a complimentary 1-month Singapore Stock Exchange Real-Time Level 1 Market Data (“SGX Level 1 Market Data”) subscription. 11.1. Applicants will automatically receive the complimentary 1-month SGX

Level 1 Market Data when they have successfully tapped on the “Claim Now” button. 11.2. The 1-month period for this complimentary subscription starts from the

day the applicant successfully taps the “Claim Now” button to participate in the

Campaign.
11.3. For example, if the applicant tapped on the “Claim Now” button to claim

their 1-month complimentary SGX Level 1 Market Data subscription on 23/01/2025, the applicant will gain access to this complimentary SGX Level 1 Market Data subscription from 23/01/2025 and the last day of complimentary access will be 22/02/2025.

11.4. Once the complimentary 1-month SGX Level 1 Market Data subscription ends, the applicant’s access will be switched to SGX Delayed Quotes.

12. Applicants can extend their complimentary SGX real-time level 1 market data subscription if they execute at least 1 SG Stock trade every 30 calendar days. The complimentary subscription will be terminated once the applicant fails to execute at least 1 SG Stock trade within a 30-day period.

12.1. For example, if the applicant’s complimentary subscription terminates on 22/02/2025, the applicant must execute at least 1 SG Stock trade before 22/02/2025 to extend the complimentary SGX Level 1 Market Data subscription.

12.2. Within a period of 30 calendar days, Applicants can only extend the complimentary subscription once for an additional 30 days by completing at least 1 SG Stock trade.

12.2.1. For example, if the applicant’s complimentary SGX Level 1 Market Data subscription is set to expire on 21/02/2025, and they execute 1 SG Stock trade on

18/02/2025 and another SG Stock trade on 20/02/2025, the applicant will successfully extend their SGX Level 1 Market Data subscription for an additional 30 days. In this case, their subscription will be extended until 21/03/2025, which is 30 days beyond the current expiration date.12.3. The complimentary SGX Level 1 Market Data subscription will be reactivated if the applicant executes at least 1 new SG Stock trade.12.3.1. For example, the applicant’s complimentary SGX Level 1 Market Data subscription was terminated on 22/02/2025. If the applicant executes 1 SG Stock trade on 25/02/2025, the applicant’s complimentary SGX Level 1 Market Data subscription will be reactivated for another 30-day period by 26/02/2025.Account Opening Rewards13. Applicants that successfully open an Account during the Campaign Period will enjoy commission-free trades for Stocks and Exchange-Traded Funds (“ETFs”) listed in the United States of America (“US”) markets on the Webull trading platform for a period of 31 days from the date of account approval.
13.1. Commission-free trades means that Applicants can trade Stocks and ETFson the US markets at 0 commission.
13.2. Additionally, Applicants can trade on the US markets at 0 platform fee, 0membership fee and 0 contract fee until further notice.
13.3. US Stocks and ETFs related fees charged by regulators, exchanges andthird-party institutions may still apply.
13.4. After 31 days, all US commission fees will be effective without furthernotice.
13.5. For more details, please go to our pricing page athttps://www.webull.com.sg/pricing.**14. Applicants that successfully open an Account during the Campaign Period will enjoy commission-free trades for Stocks, Exchange-Traded Funds (“ETFs”), Real Estate Investment Trusts (“REITs”) , Warrants and Daily Leveraged Certificates (“DLCs”) listed in the Singapore (“SG”) markets on the Webull trading platform for a period of 365 days from the date of account approval.14.1. Commission-free trades mean that Applicants can trade Stocks, ETFs, REITs, Warrants and DLCs on the SG markets at 0 commission.14.1.1. The commission-free trades will be automatically activated, requiring no action from the Applicant’s side.14.2. SG Stocks, ETFs, REITs, Warrants and DLCs related fees charged by regulators, exchanges, and third-party institutions may still apply.
14.3.  Platform fees still apply.
14.4.  After 365 days, all SG commission fees will be effective without further notice.
14.5.  For more details, please go to our pricing page athttps://www.webull.com.sg/pricing
15. Applicants will enjoy 0 fees for subscriptions/redemptions of Mutual Funds on the Webulltrading platform until further notice.
15.1. Additionally, Applicants can subscribe/redeem Mutual Funds at 0 platform feeuntil further notice. Management Fees charged by Fund houses may still apply. 15.2. Webull reserves the right to set or adjust the ending date of the 0subscriptions/redemptions fees and trades promotion for Applicants, and any suchchanges will be announced in advance.
16. **Applicants who enable Options trading after successfully opening an Account during the

Campaign Period, will also receive a complimentary 1-month Options Price Reporting Authority (“OPRA”) real-time data subscription.
16.1. Within 1 calendar day after the applicant successfully opens an Account,eligible Applicants can claim their complimentary OPRA subscription via the WebullApp under “Promotion Center”.
16.2. The 1-month period for the complimentary OPRA subscription starts from theday the applicant claims their complimentary OPRA subscription.
16.2.1. For example, if the applicant claims their 1-month complimentary OPRAsubscription on 11/01/2025, the applicant will gain access to this complimentary OPRA subscription from 11/01/2025 and the last day of complimentary access will be on to 10/02/2025.16.3. Applicants can extend their complimentary OPRA real-time data subscription if they execute at least 1 Options trade every 30 calendar days. The complimentary subscription will be terminated once the applicant fails to execute at least 1 Options trade within a 30-day period.16.3.1. For example, the applicant’s complimentary OPRA subscription terminates on 10/02/2025, the applicant must execute at least 1 Options trade before 10/02/2025 to extend the complimentary OPRA subscription.16.4. The complimentary OPRA subscription will be reactivated if the applicant executes at least 1 new Options trade.16.4.1. For example, the applicant’s complimentary OPRA subscription terminated on 10/02/2024. If the applicant executes 1 Options trade on 13/02/2025, the applicant’s complimentary OPRA subscription will be reactivated for another 30- day period by 14/02/2025.Basic Reward17. For the Participant to qualify for and receive AAPL fractional shares worth USD60, the Participant must complete the following requirements during the Campaign Period: 17.1. The Participant must sign up to be a Webull registered user, download theWebull App and open an Account;
17.2. The Participant must have a Net Cumulative Deposit I (“NCD I”) betweenUSD2,000 and USD9,999.99on 30/04/2025 15:59 SGT.
17.2.1. NCD I = Accumulated deposit amount – Accumulated withdrawal amount –Accumulated shares transfer-out amount from 31/03/2025 16:00 SGT to 30/05/2025 23:59 SGT. Capital gains and losses are excluded. Inbound Shares Transfers (i.e., Shares Transfer-ins) are excluded.17.2.2. If the Participant deposits a currency other than USD, it will be converted to the equivalent USD amount at the exchange rate of SGD1 = USD0.7297 and HKD1 = USD0.1274; and17.2.3. Any transfer fees incurred, including but not limited to handling commissions, cable charges, and agent bank charges relating to the fund deposit, shall be borne by the Participant.17.3. The Participant must maintain a Net Cumulative Deposit I (“NCD I”) of USD2,000 or more till 30/05/2025 23:59 SGT.17.3.1. Once the daily NCD I falls below the requirement during the holding period, the Participant will not receive any rewards.17.4. The Participant must successfully execute at least 3 US stocks or US Exchange- Traded Funds (“ETFs”) or US options buy trades before 30/05/2025 23:59 SGT.17.5. There is no minimum trade value for US stocks, US ETFs, or US options buy trades.

18. Each Participant can only receive a maximum of AAPL fractional shares worth USD60 from the Basic Reward and the AAPL fractional shares must be claimed under the “My Rewards” page in the Webull App within 30 calendar days.
18.1. After the Participant completes all the requirements stated in Clause 17 above,the fractional shares will appear under the “My Rewards” page within 7 business days. 18.2. The quantity of shares awarded is computed based on the previous day’s closing price of the security after the Participant claims the reward. Please note the price of theshares obtained is based on the previous day’s closing price, after the reward isclaimed by the Participant.
18.3. The stock price for the fractional share rewards is subject to fluctuation at anytime, and Webull will not provide compensation for any losses caused by pricevolatility.
18.4. The reward receivable from the Basic Reward is as follows:Quantity Reward Value 1 AAPL fractional shares USD6019. Upon claiming the reward, the Participant will receive the fractional shares within 15 business days.Upgraded Reward20. For the Participant to qualify for and receive AAPL fractional shares worth USD300, the Participant must complete the following requirements during the Campaign Period: 20.1. The Participant must sign up to be a Webull registered user, download theWebull App and open an Account;
20.2. The Participant must have a Net Cumulative Deposit II (“NCD II”) betweenUSD10,000 and USD99,999.99 on 30/04/2025 15:59 SGT.
20.2.1. NCD II = Accumulated deposit amount – Accumulated withdrawal amount –Accumulated shares transfer-out amount from 31/03/2025 16:00 SGT to 29/06/2025 23:59 SGT. Capital gains and losses are excluded. Inbound Shares Transfers (i.e., Shares Transfer-ins) are excluded.20.2.2. If the Participant deposits a currency other than USD, it will be converted to the equivalent USD amount at the exchange rate of SGD1 = USD0.7297 and HKD1 = USD0.1274; and20.2.3. Any transfer fees incurred, including but not limited to handling commissions, cable charges, and agent bank charges relating to the fund deposit, shall be borne by the Participant.20.3. The Participant must maintain a Net Cumulative Deposit II (“NCD II”) of USD10,000 or more till 29/06/2025 23:59 SGT.20.3.1. Once the daily NCD II falls below the requirement during the holding period, the Participant will not receive any rewards.20.4. The Participant must successfully execute at least 5 US stocks or US Exchange- Traded Funds (“ETFs”) or US options buy trades before 29/06/2025 23:59 SGT.20.5. There is no minimum trade value for US stocks, US ETFs, or US options buy trades.21. Each Participant can only receive a maximum of AAPL fractional shares worth USD300 from the Upgraded Reward and the AAPL fractional shares must be claimed under the “My Rewards” page in the Webull App within 30 calendar days.
21.1. After the Participant completes all the requirements stated in Clause 20 above,

the fractional shares will appear under the “My Rewards” page within 7 business days. 21.2. The quantity of shares awarded is computed based on the previous day’s closing price of the security after the Participant claims the reward. Please note the price of theshares obtained is based on the previous day’s closing price, after the reward isclaimed by the Participant.
21.3. The stock price for the fractional share rewards is subject to fluctuation at anytime, and Webull will not provide compensation for any losses caused by pricevolatility.
21.4. The reward receivable from the Upgraded Reward is as follows:Quantity Reward Value
1 AAPL fractional shares USD30022. Upon claiming the reward, the Participant will receive the fractional shares within 15 business days.Premium Reward23. For the Participant to qualify for and receive AAPL fractional shares worth USD600, the Participant must complete the following requirements during the Campaign Period: 23.1. The Participant must sign up to be a Webull registered user, download theWebull App and open an Account;
23.2. The Participant must have a Net Cumulative Deposit II (“NCD II”) of at leastUSD100,000 on 30/04/2025 15:59 SGT.
23.2.1. NCD II = Accumulated deposit amount – Accumulated withdrawal amount –Accumulated shares transfer-out amount from 31/03/2025 16:00 SGT to 29/06/2025 23:59 SGT. Capital gains and losses are excluded. Inbound Shares Transfers (i.e., Shares Transfer-ins) are excluded.23.2.2. If the Participant deposits a currency other than USD, it will be converted to the equivalent USD amount at the exchange rate of SGD1 = USD0.7297 and HKD1 = USD0.1274; and23.2.3. Any transfer fees incurred, including but not limited to handling commissions, cable charges, and agent bank charges relating to the fund deposit, shall be borne by the Participant.23.3. The Participant must maintain a Net Cumulative Deposit II (“NCD II”) of USD100,000 or more till 29/06/2025 23:59 SGT.23.3.1. Once the daily NCD II falls below the requirement during the holding period, the Participant will not receive any rewards.23.4. The Participant must successfully execute at least 8 US stocks or US Exchange- Traded Funds (“ETFs”) or US options buy trades before 29/06/2025 23:59 SGT.23.5. There is no minimum trade value for US stocks, US ETFs, or US options buy trades.24. Each Participant can only receive a maximum of AAPL fractional shares worth USD600 from the Premium Reward and the AAPL fractional shares must be claimed under the “My Rewards” page in the Webull App within 30 calendar days.
24.1. After the Participant completes all the requirements stated in Clause 23 above,the fractional shares will appear under the “My Rewards” page within 7 business days. 24.2. The quantity of shares awarded is computed based on the previous day’s closing price of the security after the Participant claims the reward. Please note the price of theshares obtained is based on the previous day’s closing price, after the reward is claimed by the Participant.

24.3. The stock price for the fractional share rewards is subject to fluctuation at any time, and Webull will not provide compensation for any losses caused by price volatility.24.4. The reward receivable from the Premium Reward is as follows:Quantity Reward Value1 AAPL fractional shares USD600
Upon claiming the reward, the Participant will receive the fractional shares within 15 business days.
It is important to note that Basic Reward, Upgraded Reward, and Premium Reward are mutually exclusive and cannot be combined.
The rewards are limited to one redemption per new account and cannot be transferred, with no more than one Account registered per person. If your Webull account shows any sign of fraud, abuse, or suspicious activity, Webull reserves the right, in its sole discretion, to forfeit your rewards and limit your chance to participate in future promotions.27.1. This includes activities such as using multiple Accounts to receive multiple rewards and immediate account closing upon receiving the rewards.Indemnities
Not a Recommendation: Any reward including shares, fractional or otherwise, which arereceived via this Campaign does not constitute as an invitation, inducement,recommendation, suggestion, or solicitation to investing.
Not Investment Advice: For the avoidance of doubt, Webull is not offering investmentadvice via this Campaign. The content presented herein may contain advertisements. However, it should not be construed as investment advice or recommendation, nor as an offer or solicitation, to deal in any investment product.
Force Majeure: Webull cannot guarantee or be responsible for any reward whose distribution may no longer be possible due to factors beyond Webull’s control, i.e., force majeure factors. Non-exhaustive examples include:
30.1.  Suspension of the security from the exchange;
30.2.  Delisting of the security from the exchange; or
30.3.  The security failing to list on the exchange.
Right to Amend/Terminate: Webull reserves the right to terminate or amend the terms of theCampaign at any time without notice, including the right to change the rewards. Webullreserves the final decision with respect to the reward including a change of the value.
Although Webull shall endeavour to distribute the reward promptly, this is subject toavailability and accordingly, Webull shall not be responsible for any delays whatsoever, nor shall there be any compensation payable in respect of any such delays.Additional Terms
Party to the Agreement: These Terms and Conditions form part of the Client Agreement (the"Agreement”) with Webull Securities (Singapore) Pte. Ltd. (UEN: 202116981M) (“Webull Securities”), a private limited company incorporated under the law of Singapore, having its registered address at 182 Cecil Street, #31-02, Frasers Tower, Singapore 069547. Webull Securities is a Capital Market Services Licence holder under the Securities and Futures Act 2001, licensed and regulated by the Monetary Authority of Singapore.
Independent Assessment of Risk: All investors should independently consider if the relevant investment products are suitable for their own risk appetite. If they are uncertain of the investment products suitable for them, Investors are advised to seek advice from a

professional financial adviser. Options trading involves significant risk and is not suitable

for all investors as investors may be exposed to potentially rapid and substantial losses.

1. Past Performance not Indicative: Past performance of any investment products is notindicative of future performance. The value of the investment products and the income from them may fluctuate periodically. Investing contains risks and investors may lose all their investments.
2. Webull’s decision on all matters relating to this Campaign will be at its discretion and will be final and binding on all participants.
3. Right to Terminate: Webull reserves the right to terminate or cancel a party’s participation in this Campaign if they are suspected to or are found to have used inappropriate methods to acquire rewards. Non-exhaustive examples include:
   37.1.  Unintended stock claim conducts;
   37.2.  Fabrication or submission of false data;
   37.3.  Exploiting a bug in the system.
4. Webull reserves the right in its absolute discretion to terminate, vary, delete or add to any ofthe Campaign’s terms and conditions herein, at any time without prior notice and without having to disclose any reason therefore and without any payment or compensation whatsoever to the participant.
5. Dispute Resolution: Webull reserves the right to resolve any disputes incurred.
6. The decision of Webull on all matters relating to or arising from this Campaign (including theeligibility of any trade to be considered within the scope of this Campaign and the eligibility of any person to participate in this Campaign) is absolute, final and binding and no correspondence and/or requests to retract and/or to modify any such decisions shall be considered. In the event of any inconsistency between these terms and conditions and any marketing material relating to this Campaign, these Terms and Conditions shall prevail.
7. Webull, its affiliates, its and their respective employees, directors, officers, representatives and agents shall not be liable to any person for any loss, damage, injury, costs or expenses incurred, suffered, borne or arising from this Campaign.
8. These Terms and Conditions are governed by and interpreted according to the laws of Singapore and the participants in this Campaign agree to submit to the exclusive jurisdiction of the courts of Singapore.
9. Exclusion Of Third-Party Rights: Except as otherwise expressly provided, no person who is not a party to this Agreement shall be entitled to enforce any terms of this Agreement solely by virtue of the Contracts (Rights of Third Parties) Act 2001.
10. English Version Shall Prevail: The advertisement or Campaign content may be translated into other languages. This English version shall be referred to where such a translation is made. Should there be any discrepancies between the English version and any version of the content in another language, the English version shall prevail.
11. This advertisement has not been reviewed by the Monetary Authority of Singapore.