Any legal disputes not sent to arbitration must be handled in New York courts under New York law, regardless of where you live.
This analysis describes what Webull's agreement states, permits, or reserves. It does not constitute a legal determination about enforceability. Regulatory applicability and practical outcomes may vary by jurisdiction, enforcement context, and individual circumstances. Read our methodology
If you live outside New York and need to litigate a dispute that is exempt from arbitration, you would need to do so in New York, which adds cost and complexity for users in other states.
Interpretive note: Enforceability of the forum selection clause may be limited for consumers in states with statutory protections against mandatory out-of-state venue, particularly California.
The provision now includes explicit language clarifying that non-arbitrable claims must be filed in New York courts and users irrevocably consent to personal jurisdiction and venue.
View full change record →Non-New York residents who pursue a court action against Webull for matters outside arbitration's scope must do so in New York state or federal courts, which may be impractical and costly for most retail investors.
How other platforms handle this
These Terms shall be governed by the laws of the State of California, excluding its conflicts of law rules, and the federal laws of the United States. Any dispute arising from or relating to the subject matter of these Terms shall be finally settled by arbitration in San Francisco County, California...
These Terms of Service and any dispute or claim arising out of or in connection with them or their subject matter or formation (including non-contractual disputes or claims) shall be governed by and construed in accordance with the laws of the State of Delaware, without giving effect to any choice o...
These Terms are governed by the laws of the State of Minnesota, without giving effect to any choice of law or conflict of law provisions. Any disputes not subject to arbitration will be resolved in the state or federal courts located in Hennepin County, Minnesota.
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"These Terms shall be governed by the laws of the State of New York, without regard to its conflict of law provisions. You agree that any action at law or in equity arising out of or relating to these Terms that is not subject to arbitration shall be filed only in the state or federal courts located in New York County, New York, and you hereby irrevocably consent and submit to personal jurisdiction and venue of such courts for the purpose of litigating any such action.— Excerpt from Webull's Webull Customer Agreement
REGULATORY LANDSCAPE: New York governing law is standard for financial services firms headquartered or incorporated in New York. The choice of forum provision requires exclusive venue in New York County, which engages general principles of forum selection enforceability under federal and state law. In the financial services context, FINRA arbitration may independently govern the majority of disputes, making the court venue provision most relevant for the limited category of claims not subject to arbitration, such as IP injunctions. GOVERNANCE EXPOSURE: Low to Medium. Forum selection clauses favoring New York are standard for financial services entities and are generally enforced by US courts under the Supreme Court's precedent on forum selection. However, some states, including California, have statutory provisions (California Code of Civil Procedure Section 410.40) that may limit enforcement of mandatory out-of-state forum selection clauses in certain consumer contracts. JURISDICTION FLAGS: California residents may have additional protections under state statutes that limit forum selection clause enforceability in consumer contracts. EU and UK users may have mandatory jurisdiction rights under applicable regulations that would override a contractual New York forum selection clause. CONTRACT AND VENDOR IMPLICATIONS: Institutional clients and business partners outside New York should assess the practical implications of this forum selection clause for dispute resolution and whether their own commercial agreements with Webull replicate or modify this provision. COMPLIANCE CONSIDERATIONS: Legal teams should confirm that this governing law and forum selection clause is consistent with applicable state consumer protection statutes in key user markets, particularly California, and that it is appropriately disclosed at account opening.
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If you live outside New York and need to litigate a dispute that is exempt from arbitration, you would need to do so in New York, which adds cost and complexity for users in other states.
Non-New York residents who pursue a court action against Webull for matters outside arbitration's scope must do so in New York state or federal courts, which may be impractical and costly for most retail investors.
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