Webull is expanding into commodities and futures trading before going public later this year

Key insights

• Webull Corp. announced Monday that it has expanded its offerings to include futures and commodities trading, allowing users to diversify their investment portfolios.
• Webull said investing clients would also gain access to asset classes such as currencies and indices.
• The company plans to go public in the second half of the year via a $7.3 billion special purpose acquisition company (SPAC) deal.

Webull, an online trading platform, said Monday it plans to expand into commodities and futures trading ahead of a planned stock market listing later this year.

​​The new offerings focus on highly liquid futures markets with features such as market, limit, stop market and stop limit orders. Webull said clients would also gain access to underlying asset classes such as commodities, currencies and indices.

This diversification comes as Webull prepares to go public through a special purpose acquisition company (SPAC) on the Nasdaq stock exchange in a $7.3 billion initial public offering later this year.

The expansion into commodities will also give its retail investors access to products such as gold, which hit record highs last week.

Anthony Denier, president of Webull Group, said the launch of futures trading would give its clients access to “advanced financial products normally reserved for institutional investors.”

The U.S. stock market has hit new highs this year, rising as did gold prices (GOLD), which hit a new high of $2,185 an ounce at 12 p.m. ET.