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.
- Active traders
- Intermediate traders
- Advanced traders
- Commission-free trading in over 5,000 different stocks and ETFs
- No account maintenance fees or software platform fees
- No charges to open and maintain an account
- Leverage of 4:1 on margin trades made the same day and leverage of 2:1 on trades held overnight
- Intuitive trading platform with technical and fundamental analysis tools
- Does not support trading in options, mutual funds, bonds or OTC stocks
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Who’s Webull For?
Webull caters 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.
The Webull platform’s intuitive features and design could be considered advanced for novice traders but the platform can still be learned.
Webull offers a series of trading courses and a trading simulator or demo trading 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.
Webull’s Platform and Tools
The Webull trading platform is available as a mobile web-based and desktop app with features useful for experienced and intermediate traders. 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.
Webull’s Research 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, Webull 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.
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’s Commissions and Fees
Much like its major competitors, Webull does not 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 Range||Margin Rate|
|$0 – $25,000||6.99%|
|$25,000.01 – $100,000||6.49%|
|$100,000.01 – $250,000||5.99%|
|$250,000 – $500,000||5.49%|
|$500,000.01 – $1,000,000||4.99%|
|$1,000,000.01 – 3,000,000||4.49%|
Webull offers a free stock promotion in which you and someone you refer to Webull could receive one 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’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 one 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’s Customer Support
Webull’s customer support can be accessed through email, which is the only method mentioned on its website where no online web chat option or phone number was found. However, Webull’s customer service does reply within one hour of a query.
Only Webull’s Help page offered any type of customer support, and then only in the form of a FAQ.
Webull’s FAQ page does give you detailed information on opening an account and the funding and transfers of cash and stocks. It also has a “Trading on Webull” section, which can give you information about commissions and fees, tradable assets and order types.
The FAQ sections found on the help page answer most questions you may have on the topics mentioned above. Email Webull for more details or to speak with a Webull agent
Webull’s Tradable Asset Classes
Webull currently offers trading on more than 5,000 U.S. stocks and ETFs in the United States. The broker currently does not support trading in stock options, over-the-counter stocks, mutual funds, bonds or cryptocurrencies, which is somewhat limiting.
On the brighter side, Webull allows you to trade the stocks available during extended trading hours, including pre-market and after-hours. Times for extended trading are:
- Pre-market trading hours – from 4:00 a.m. to 9:30 a.m. EST
- After-hours trading hours – from 4:00 p.m. to 8:00 p.m. EST
Another important feature is that you can margin short sales and leverage the sale up to 4 times the 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 having your position liquidated to make up for your 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.
Webull’s Ease of Use
From the ease of downloading the Webull app to the simplicity of making your first 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.
Final Thoughts on Webull
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 with the touch of a screen or click of a mouse.
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.
Finally, Webull’s commission-free structure gives short term and day traders a considerable cost advantage. Another significant advantage is Webull’s 4x leverage on margin day trades or 2x leverage for overnight positions.