Webull Welcomes Global Investors and Minimizes Fraud With Online Verification

In order to fulfill their mission to create an equal opportunity for everyone to control their financial future, Webull needed to build a product that was free and accessible while providing a smooth and secure onboarding for their customers. This is where Trulioo entered to help support Webull’s goals.

Fast and Reliable Customer Identification

Like any other financial entity, Webull needed to implement a Customer Identification Program (CIP) into its account opening process. This was done to comply with regulations such as Know Your Customer (KYC) and Anti-Money Laundering (AML).

Regulated entities will testify that identity verification, the core component of the CIP, can often delay customer onboarding; users grow impatient with the elongated wait times and abandon the onboarding process altogether. According to Webull CEO Anthony Denier, “a fast and reliable Customer Identification Process during the account opening process was crucial for us.” This is where the Trulioo solution comes into the picture. After incorporating Trulioo Identity Verification into the account opening process, Webull was able to verify and onboard users quickly: “Trulioo helped us onboard 100,000 accounts in just the first six months — all while providing a seamless user experience.”

Fraud Prevention

Trulioo played a major role in identifying potentially fraudulent users while they were trying to open accounts with Webull. “We utilize Trulioo to flag applicants who have previously been involved in any fraudulent, conspirator, and/or trafficking infractions. These applicants are not onboarded as Webull clients,” says Denier.

International Expansion

The Trulioo API lets clients access over 450 data sources across 195 countries. Clients can verify the identity of 5 billion people using a single touchpoint. According to Denier, “We are currently onboarding U.S. and international clients onto our brokerage platform. Trulioo’s streamlined API access to international databases allows us to almost instantly pass or fail applicants on a mass scale.”


From the very beginning, Webull wanted its customer identification program to be highly reliable. According to Denier, one of the tangible benefits of using Trulioo is that Webull is now able to keep “a thoroughly researched and compliant brokerage client list.”

Trulioo helped us onboard 100,000 accounts in just the first six months, all while providing a seamless user experience.
Anthony Denier, CEO of Webull
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Affordability, Superior Technology and a Great Team

Before choosing Trulioo, Webull did a comprehensive search and assessment of all the available solutions in the market. “Trulioo’s technology and flexible pricing options were the key determinant factors in its selection. Top-notch responsiveness by the customer success and sales team, along with strong implementation were the other factors,” says Denier.

Like Webull, the world’s biggest tech companies, banks, payment processors, and money transfer companies, along with major online marketplaces, financial institutions, gaming companies and financial services, use Trulioo to prevent fraud, mitigate risk and meet their compliance requirements.

About Webull Financial LLC

Webull Financial is a zero-commission, online broker-dealer with no minimum deposit requirements to open an account. These incentives, combined with a host of compelling features, such as real-time market data and financial news, make Webull Financial the preferred solution for experienced and novice investors alike.

The Webull app is currently being used across the world by over 9 million people. Meanwhile, the brokerage portion is being used in the U.S. and some select non-U.S. locations.