Webull Review

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Webull, founded in 2017, is a mobile app-based brokerage that features commission-free stock and exchange-traded fund (ETF) trading. It’s regulated by the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA).

Webull offers active traders technical indicators, economic calendars, ratings from research agencies, margin trading and short-selling. Webull’s trading platform is designed for intermediate and experienced traders, although beginning traders can also benefit.

Webull is widely considered one of the best Robinhood alternatives.

Best For

  • Active traders
  • Intermediate traders
  • Advanced traders

Pros

  • No account maintenance fees or software platform fees
  • No charges to open and maintain an account
  • Intuitive trading platform with technical and fundamental analysis tools

Cons

  • Does not support trading in mutual funds, bonds or OTC stocks
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Current Promotion: Open a new Webull account and get a FREE stock valued between $3-$300! Make an initial deposit and get two FREE stocks valued between $7-$3000! Claim Now.

Winner of Benzinga’s 2021 FinTech Awards for Best Investment App

What is Webull?

Webull and the Webull app cater to intermediate and experienced self-directed investors and traders. Its commission-free structure is for short-term and active traders who would save a considerable amount on commissions compared to other online brokers.

Webull is a diverse platform that works well for both beginners and advanced users. While the platform is more involved than some of its competitors, its intuitive layout makes it easy to get used to. More likely than not, you’ll find the features on Webull well worth learning.

Webull offers a series of trading courses and a trading simulator account with real-time data and advanced charting capabilities for U.S. listed stocks. These features can suit beginning traders who want to learn more about the market and develop a trading plan.

As you continue through this Webull review, remember that investments are a risk. This is a fantastic platform, but it cannot manage your money for you. This being said, you can mitigate the risk of investing as best as you can by using the platform properly.

Webull User Benefits

The Webull trading platform is available as a mobile web-based and desktop app with features useful for experienced and intermediate traders. More importantly, the Webull desktop and mobile app mirror one another. The tools incorporated in the platform provide information and insights to help you make more profitable trades.

The platform features tools to help you perform both fundamental and technical analysis.

With respect to fundamental analysis, the platform lets you access analyst recommendations, revenue and historical earnings per share data, as well as key statistics, insider trades, stock information such as earnings, dividends and stock splits and news feeds so you can keep track of news that could affect your stocks.

On the technical side, the app provides a real-time bar, candlestick and line charts that have time frames ranging from 1 minute to 60 minutes and a set of historical data that goes back over the past 5 years. Additional technical resources include popular indicators such as Bollinger Bands, MACD, oscillators and more.

Sign up with Webull and get a free 3-month subscription to Webull’s Level 2 Advance (Nasdaq TotalView service) for a deeper view of the markets and orders, with opening, closing, IPO and halt crosses. One of the perks is the NOII, which provides increased transparency and insight into the true supply and demand in the marketplace.

In addition, crypto on Webull is now available. Here’s why you want to access this brand-new feature on Webull:

  • $0 commission
  • Can trade from one account
  • Can trade crypto 24/7
  • Requires just a $1 minimum deposit.
  • Free real-time data
  • 8 charts and 50+ indicators to help analyze the market
  • Highly customizable layout
  • Accessible on mobile, desktop and web platforms
  • Interact with others in the community tab
  • Timely customer service
  • 24/7 help center
  • Two-factor authentication
  • Safe and secure

Webull Offerings

Webull’s research gets our highest rating for ease of use, filtering capabilities and overall informational value. Research is found on 4 different pages on the mobile app, with markets, news, an individual stock page and a screeners page.

The screeners page gives you the option of which stocks to track and what technical parameters to watch and set smart alerts.

The feature includes an economic calendar with upcoming IPO dates, earnings and other news pertaining to the stocks you’re watching. You can set up your own watchlists and receive alerts through email or SMS on the app.

In addition to U.S.-based stocks, the platform can track Canadian stocks, ETFs, cryptocurrencies, futures, options, commodities and indices. Stocks you can track in real-time through the app include 5 categories in more than 90 countries/regions with over 25,000 stocks.

Other assets you can track include 100,000 funds, 1,000 currency pairs and 3,000 commodities. All in all, Webll day trading is simpler because you have resources to lean on. There’s no need to leave several windows open to review all the information required to make a trade.

Webull also offers trade ideas and trading courses, such as day trading courses for beginners. One of the best features of the platform is its trading simulator, which is basically a demo account that you can use to try out the platform and simulate trading ideas.

Webull Pricing

Is Webull free? Yes and no.

Webull fees are not only reasonable, but they are affordable to the point that you never need to worry about overhead. Much like its major competitors, Webull doesn’t charge a commission on U.S. stock trades or to open and maintain an account. Nevertheless, SEC and FINRA fees do apply.

  • SEC fees. A $13 charge for a total of $1,000,000 of principal on stock sales only, with a $0.01 minimum.
  • FINRA fees. A trading activity fee (TAF) of $0.000119 per share on stock sales only with a minimum of $0.01 and no more than $5.95.   

You’re required to have a minimum of $2,000 in your account to trade on margin. The applicable margin rates for a set of dollar account balances are shown in the table below.

Dollar RangeMargin Rate
$0 to $25,0006.99%
$25,000.01 to $100,0006.49%
$100,000.01 to $250,0005.99%
$250,000 to $500,0005.49%
$500,000.01 to $1,000,0004.99%
$1,000,000.01 to 3,000,0004.49%
>$3,000,000 3.99%

Webull offers a free stock promotion in which you and someone you refer to Webull could receive 1 share of stock worth up to $1,000. If you have a lot of friends who like to invest and are new to Webull, it could really add up.

Webull Security

Webull’s parent company Webull Financial LLC is a member of the Securities Investor Protection Corp. (SIPC). Webull protects the securities of its members up to $500,000, which includes $250,000 for cash claims.

The company’s clearing corporation Apex Clearing Corp. has also purchased an additional insurance policy. The policy covers protection for securities and cash up to an aggregate of $150 million. $37.5 million is the maximum limit for any 1 customer’s securities and $900,000 of that can be in cash.

Both the SIPC protection and the extra insurance policy held by Apex Clearing Corp. do not cover Webull members from a loss of the market value of their securities.

Webull v6

Webull 7.0 Update

On May 13, 2021 Webull released another update to their platform, Webull 7.0. The updates include:

  • Learning Tools: You can access information to provide additional insights into investment decisions.
  • New Account Homepage Design: The new account page makes it easier to read and access information including the newly added daily P/L and realized P/l screens.
  • Integrated Message Center: You can now customize messages into various categories to better organize information..
  • Financial Report Analysis: In-depth financial data is now available in a visualized analysis form to help you make fast and informed investment decisions.
  • Depth Market Quote: You can now see advanced Market By Order and MPID on both bid and ask transactions.
  • 3 More Cryptos: Dogecoin (DOGE), Stellar Lumen (XLM) and Zcash (ZEC) are now available to trade via Webull Crypto.

Webull Customer Service

Webull’s customer support team is available at:

  • Customerservices@webull.us
  • 888-828-0618
  • Facebook, Twitter and Instagram

Webull’s FAQ page gives you detailed information on opening an account along with the funding and transfers of cash or stocks. It also has a Trading on Webull section with information about commissions and fees, tradable assets and order types.

The FAQ sections found on the help page can answer your basic questions. Email or call Webull for more details or to speak with a Webull agent for more information or further assistance.

Tradable Asset Classes on Webull

Webull currently offers trading on more than 5,000 U.S. stocks and ETFs in the United States. Webull options for over-the-counter stocks, mutual funds, and bonds or cryptocurrencies are not yet available, which is somewhat limiting.

Another important feature is the ability to margin short sales and leverage the sale up to 4 times that amount in the account for trades made the same day and 2 times the amount for trades held overnight. Keep in mind that your net account balance when trading with margin is $2,000.

If the balance falls below that amount and you have open positions, you run the risk of the broker liquidating your position to make up for the margin shortfall.

With a balance of $25,000 or more in equity, you gain access to unlimited day trades. Day trading in a cash account can only be funded with settled funds. For example, if you only have $500 settled in a cash account, then you can only use up to that amount for day trading in that account.

Trading Outside Market Hours With Webull

Additionally, Webull‘s premarket hours and after-hours trading options allow you to work the market when everyone else is asleep. Premarket hours give you a chance to react to overnight news affecting one of your holdings. After-hours trading is similar, but remember that liquidity drops during this period, institutional investors often trade during this time and you may want to wait until premarket hours to make your move.

Webull’s extended trading hours are:

  • Premarket trading hours start at 4 a.m. and end at 9:30 a.m. EST
  • After-hours trading begins at 4 p.m. and ends at 8:00 p.m. EST

Webull Ease of Use

From the ease of downloading the Webull app to the simplicity of making your 1st live trade, Webull appeals to traders at all experience levels. The Webull trading platform has an intuitive, easy-to-use interface on both the mobile app and desktop version that can be learned by trading in the demo account.

Changing your account from a normal account to a margin account can be done directly on the platform as long as you’ve sufficiently funded the account. Another advantage of the Webull platform is its customizability. From making watchlists to setting alerts, traders of any level can take advantage of Webull.  

Webull vs Competitors

Here are some other platforms where you can trade stocks and cryptocurrency. How does Webull compare?

get started securely through Webull’s website
Best For
Intermediate Traders and Investors
N/A
1 Minute Review

Webull, founded in 2017, is a mobile app-based brokerage that features commission-free stock and exchange-traded fund (ETF) trading. It’s regulated by the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA).

Webull offers active traders technical indicators, economic calendars, ratings from research agencies, margin trading and short-selling. Webull’s trading platform is designed for intermediate and experienced traders, although beginning traders can also benefit.

Webull is widely considered one of the best Robinhood alternatives.

Best For
  • Active traders
  • Intermediate traders
  • Advanced traders
Pros
  • No account maintenance fees or software platform fees
  • No charges to open and maintain an account
  • Intuitive trading platform with technical and fundamental analysis tools
Cons
  • Does not support trading in mutual funds, bonds or OTC stocks
get started securely through Robinhood’s website
Best For
Buying & selling Dogecoin
N/A
1 Minute Review

Robinhood is the broker for traders who want a simple, easy-to-understand layout without all the bells and whistles other brokers offer. Though its trading options and account types are limited, even an absolute beginner can quickly master Robinhood’s intuitive and streamlined platform. On the other hand, more advanced traders might be frustrated by Robinhood’s lack of technical analysis tools, a feature that’s now nearly universal across other platforms.

Best For
  • Fee-free trading
  • Beginner crypto investors
  • Doge day traders
Pros
  • Commision-free trading
  • Access to Dogecoin
Cons
  • Limited altcoin selection
  • No wallet capabilities
get started securely through eToro’s website
Disclosure: eToro USA LLC; Investments are subject to market risk, including the possible loss of principal.
Best For
Copy Trading
N/A
1 Minute Review

eToro, headquartered in Cyprus, England and Israel, has provided forex products and other CFD derivatives to retail clients since 2007. A major eToro plus is its social trading operations, including OpenBook, which allows new clients to copy trade the platform’s best performers. Its social trading features are top notch, but eToro loses points for its lack of tradable currency pairs and underwhelming research and customer service features

Best For
  • U.S. based cryptocurrency traders
  • Investors looking to CopyTrade other traders
  • Simple user interface
Pros
  • Several major cryptocurrencies and altcoins
  • Expansive network of social trading features
  • Large client base for new traders to imitate
Cons
  • Only 29 coins available
get started securely through Interactive Broker’s website
Best For
Stocks & ETFs
N/A
1 Minute Review

Interactive Brokers is a comprehensive trading platform that gives you access to a massive range of securities at affordable prices. You can buy assets from all around the world from the comfort of your home or office with access to over 135 global markets. Options, futures, forex and fund trading are also available, and most traders won’t pay a commission on any purchase or sale.  

IBKR is geared primarily toward experienced traders and investors but now with the availability of free trades with IBKR Lite, casual traders can also acclimate to IBKR’s offerings.

Best For
  • Access to international markets
  • Active traders
  • Sophisticated investors
  • Detailed mobile app that makes trading simple
  • Wide range of available account types and tradeable assets
Pros
  • IB SmartRouting provides significant price improvement vs. industry
  • Fractional trading allows investing regardless of share price
  • Industry’s lowest margin rates
  • Earn more by lending your fuly-paid shares
Cons
  • Beginner investors might prefer a broker that offers a bit more hand-holding and educational resources

Webull Overall

If you’re a U.S. citizen and only trade U.S. stocks and ETFs, Webull could be an excellent choice for you. You can access the stock and many other markets in the Webull app or on the website.

Though the platform currently only allows trading in stocks and ETFs, you can watch a number of different markets worldwide, including cryptocurrencies, forex and commodities. As the company grows, access to trading in other assets and markets should become possible over time.

The platform’s charting capabilities are more than adequate for many traders using technical analysis, with over 22 technical indicators. The platform’s news feeds and analyst evaluations will also give you considerable fundamental information for both investment and trading analysis.

Frequently Asked Questions

Q

Is Webull a good brokerage firm for novices?

1
Is Webull a good brokerage firm for novices?
asked
A
1

Webull caters to intermediate and experienced traders but new traders can learn a lot from the platform.

answered
Q

Can I trade on Webull before settlement day?

1
Can I trade on Webull before settlement day?
asked
A
1

 If you have a margin account, you can trade your funds before settlement day.

answered
Q

Where can I learn more about the basics of trading and investing?

1
Where can I learn more about the basics of trading and investing?
asked
A
1

Benzinga can get you started. We’ve got lists of the top stock trading schoolsonline stock trading courses and self-paced modules to teach you about forex.

Visit Benzinga daily to stay on top of all the latest market happenings. Or subscribe to Benzinga Pro to get faster stock market news and research.

answered
Q

How do you buy fractional shares on Webull?

1
How do you buy fractional shares on Webull?
asked
A
1

Webull doesn’t allow you to buy fractional shares on any stocks or ETFs. You can trade from over 5 thousand U.S.based stocks, options and ETFs between 4 a.m. and 8 p.m. EST. It does not permit trading in bonds, mutual funds or OTC stocks.

answered
Q

How can you buy crypto on Webull?

1
How can you buy crypto on Webull?
asked
A
1

You can buy select cryptocurrencies on Webull such as Bitcoin, Ethereum, Litecoin and Bitcoin Cash. You must receive approval to trade cryptocurrencies and update your trading application to the 6.31 version. After approval, go to the “Cryptos” link under the “Markets” tab.  Select what you want to buy or sell by pressing the “Trade” icon at the bottom left corner

answered
Q

What is the Webull crypto wallet like?

1
What is the Webull crypto wallet like?
asked
A
1

Webull doesn’t have crypto wallets.  You can hold crypto assets only in margin and cash accounts. They won’t allow you to transfer them to other brokerage firms. Plus, Webull crypto fees only include the standard spreads that represent the difference between the call and the ask price.

answered
Q

Is Webull legit?

1
Is Webull legit?
asked
A
1

Webull is regulated by top financial entities, including the SEC, FINRA and SIPC.

answered

How do you like Webull?




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