Webull is a discount brokerage that offers zero commission trading, professional charts and many tools for investors. They also have a fully loaded app which is making it a popular alternative to Robinhood.
In this review, you will learn everything you need to know about Webull and how it compares to the other brokerage apps.
Overall Rating:
4.5
About Webull
Webull is an online brokerage founded in 2017. Their main focus is commission free trading and offering a tech-savvy platform with lots of features.
They’re relatively new in the brokerage world. However, Webull is already making a splash in the investing industry.
Webull App and Features
Investments – Webull specializes in stocks, options and ETFs in the USA. They also have cryptocurrencies coming soon. They do not offer mutual funds, bonds or OTC stocks.
Advanced Order Types – Market orders, limit orders, stop loss orders, stop limit orders. With these tools, you can place automatic trades at your desired prices.
Extended Hours Trading – Webull offers free pre-market and post-market trading. So you can trade from 4:00am EST to 8:00pm EST (Normally, market hours are 9:30am EST to 4:00pm EST).
Paper Trading Account – If you’re a beginner, you can practice with virtual money until you’re confident in your skills.
Margin Trading – A margin account lets you borrow money to invest. Webull offers financing rates from 3.99%-6.99%. You need to deposit $2000 to open a margin account. I only recommend this for advanced traders.
Data and Research Tools
Webull has professional and advanced tools to help you watch the market. Other brokerages charge money for advanced tools but Webull gives it to you for free:
- Price alerts and watchlists
- Real-time market data
- News and press releases
- 50 technical indicators
- Analyst ratings
- Stock screeners
- Financial calendars
Webull Fees
Webull charges NO commissions for trading stocks, ETFs and options and there’s no account maintenance fees.
There’s also no minimum investment required to open an account. However, if you want the 1 free stock, you need to deposit at least $100 when you sign up.
All of that makes Webull one of the best low fee brokerages. However, as with any trading platform there are small fees from regulatory agencies. These fees are minimal (usually a couple cents per trade):
Trading Type | Regulatory Agency | Fee | Applies To |
|---|---|---|---|
Stocks/ETFs and Options | SEC | $0.0000221 * Trade Amount (Min $0.01) | Sells |
Stocks/ETFs | FINRA | $0.000119 * Trade Volume (Min $0.01 - max $5.95 per) | Sells |
Options | FINRA | $0.002 * Number of Contracts (Min $0.01) | Sells |
Options | Options Exchanges | $0.0388 * Number of Contracts | Buys and Sells |
Options | Options Clearing Corp. | $0.055 * Number of Contracts (Max $55 per trade) | Buys and Sells |
Who Is Webull For?
- Beginner investors – Webull has no account minimums so you can get started with any budget. They also have paper trading, so if you want, you can practice with virtual money first
- Short-term and active investors – $0 trades and professional research tools makes Webull a good option for day traders and active investors
- Techies – If you like charts, analytics and cool features Webull is a great platform to watch your investments
Who Shouldn’t Use Webull?
- International traders – Webull specializes is USA stocks and ETFs. If you’re looking for global investments it’s not ideal
- Investors who want management – Webull is self-directed so you build your own portfolio. If you want a robo-advisor or someone to manage your portfolio, Webull is not that
Pros:
Cons:
Webull Free Stock Bonus: Get 3 Free Stocks
- Open a new Webull account
- Make an initial deposit of $100 or more within 30 days of signing up
- Receive 3 free stocks valued up to $3,450 total which you can keep or sell for quick cash!
Keep Reading: How to Get Webull Free Stocks
Webull vs. Robinhood
These two are often compared so the main difference is Webull gives you more technical features, charts, data, and research tools. Robinhood is more simple and easy to use, especially for beginners. Other than that they have many similarities:
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It comes down to what are your preferences as an investor? Do you want lots of extensive features (Webull), or fo you want an easy to use and minimal experience (Robinhood)? Both are great choices at the end of the day.
Frequently Asked Questions
Is Webull Safe?
Webull is registered with the SEC. They are also regulated by FINRA and have SIPC insurance in case they fail. As for the app itself, it encrypts your personal information so that is secure as well. They are just as legitimate as Fidelity and any of the other alternatives out there.
How Do I Sign Up For Webull?
Opening a brokerage account is similar to opening a bank account online. It takes 5-10 minutes and you need your ID and and social security number with you. Once your Webull account is verified and funded you can buy/sell stocks instantly. Click here to sign up.
Final Thoughts
Webull has become of the top choices for American investors right now who want low fees and a sophisticated mobile app experience. If you want a brokerage with zero commissions, free professional charts and endless features, Webull is a great choice for you.
Keep Reading:
Get 3 free stocks for your portfolio! All you need to do is open an account and deposit $100