House Committee Report Finds Webull's China Ties Pose National Security Risk
Published Oct 7, 2026
Updated Oct 9, 2026On October 7, 2026, the House Select Committee on China released a report finding that Webull's ties to China pose a national security risk. Webull has responded that the report is “disappointing that the Select Committee published a report containing significant inaccuracies and unsupported conclusions
What the Report Found
The bipartisan House Select Committee on China shared its report with CNBC, concluding that Webull is "tied in structural ways" to China's government, posing a national security threat to U.S. finance.
The committee also found a significant gap between how Webull markets itself as an American company and who actually controls the St. Petersburg, Florida-based firm. The report identifies Webull's ownership, technical workforce, technology infrastructure, cross-border data routing, corporate financing, and compliance frameworks as areas tied to the People's Republic of China.
Market Reaction
Webull stock (BULL) fell about 20% by midday October 7, on pace for its worst day since April 17, 2025. The stock had already fallen 40% over the prior month.
Why It Matters to Traders
The report focuses on customer cash custody and the handling of customer data. It is a congressional finding, not an SEC or FINRA enforcement action, and no regulatory action has been announced. Traders can review any broker's regulatory record through FINRA BrokerCheck.
How to Transfer From Webull to tastytrade
tastytrade is a U.S.-based broker headquartered in Chicago and a member of FINRA, NFA and SIPC.
Accounts move between U.S. brokers through ACATS, initiated by the receiving broker. See tastytrade's ACAT transfer guide for full details.
- Open a tastytrade account matching the Webull account type, title, and tax ID exactly.
- Download a recent Webull statement showing the account number and holdings.
- Submit a full or partial ACATS request from tastytrade.
- Confirm what transfers, Stocks, ETFs, listed options, and cash generally transfer. Futures and cryptocurrency do not. Open options remain subject to market movement and assignment during the transfer.
- Check Webull's outgoing transfer fee.
After the transfer, tastytrade's pricing applies: $0 stock commissions, $1.00 per contract to open options and $0 to close. Applicable regulatory, exchange, and clearing fees still apply to all opening and closing trades. Review commissions & fees before trading. tastytrade does not offer international markets, bond trading, or advisory services.
Make The Move To tastytrade
Earn up to $2k when you open and fund a new account and receive up to a $75 reimbursement for incoming ACATS transfers.
About tastytrade
tastytrade is an award-winning brokerage firm established in 2017 to change the way people invest. tastytrade empowers investors seeking to actively manage their own money with a powerful platform and access to educational content for stocks, options, and futures trading. tastytrade is a subsidiary of IG US Holdings, Inc., parent to tastylive, the financial content and education platform; tastyfx, the fastest-growing forex broker in the United States; tasty Software Solutions, LLC; and a subsidiary of IG Group Holdings plc (LON:IGG), a global fintech company that provides award-winning products, platforms, and access to ~21,000 financial markets to investors around the world. Learn more at www.tastytrade.com.
tastytrade, Inc. (“tastytrade”) is a registered broker-dealer and member of FINRA, NFA, and SIPC. tastytrade offers self-directed brokerage accounts to its customers, and does not give financial or investment advice, nor does it make trade recommendations. You alone are responsible for making your own investment and trading decisions and for evaluating the merits and risks associated with the use of tastytrade’s systems, services, or products.