If you are looking for a broker for active trading with low costs and excellent experience for mobile devices, you should know about Webull. Webull has quickly emerged as a recent favorite in 2017 for active traders looking for a low-cost experience.
Webull targets its platform to tech-savvy traders who can handle most of their trading needs on their own. If this sounds good to you, read more to find out how Webull may be suitable for your investment and trading needs.
0% commission on stocks
Trade Stocks, Forex, Crypto and more.
Only $200 minimum deposit
67% of private investor accounts lose money trading CFDs with this provider. You should consider whether you can afford to risk losing your money.
What is Webull?
Webull is a free broker which allows you to trade shares, ETFs and options absolutely free of charge. It supports both tax and pension IRA accounts on a platform designed for active traders. It is ideal for experienced traders who are confident in their research and analysis and want a cost-free platform with full buy and sell functionality.
Webull - the first trading platform for mobile devices, optimized for iPhone and Android phones. It also has a platform for trading on the Internet. And it offers its own desktop platform for Windows and Mac. Webull adds features faster than any competitor. Recently it has added options trading and works with cryptocurrency trading.
Nowadays it is the best for trading stocks and options. It does not support such a wide range of investments and types of transactions as the larger brokerage firms do. But for what it does, it does a very good job.
Webull is an online brokerage firm which has mobile, desktop and web-based platforms for trading. It can be used free of charge and without commissions to buy or sell stocks, exchange-traded funds (ETFs) and options. This platform was free of charge before all the big investment firms did.
The main competitor of Webull is Robinhood. Robinhood also offers cost-free trading, but with less hostile active trading capabilities. If you're deciding between Robinhood and Webool, Webool is certainly the better choice today.
The brokerage company has over 9 million customers around the world. It does not disclose the assets under management, but one estimate puts them at approximately $4 billion on all client accounts.
Webull has offices in China and New York. Technology comes from offices in Hunan, China, and client operations are conducted from New York. It is also a subsidiary of the large Chinese company Fumi Technology.
Features of Webull
|Minimum investment||of $0|
|Trade in shares||$0|
|Additional brokerage trading||Not used|
|Unit Investment Deposits||are not used|
|Types of investments Shares||Types of funds|
|mutual funds||Traditional IRA|
Customer service Electronic mail
Free stock trading - Flagship feature of Webull is free stock trading. Shares are mostly stocked on the main markets. You will not see any shares on Webull.
Free Options Trading - Webull recently added options trading. Be sure you know what you're doing when you enter these waters as options trading can be risky. Check out our options trading guide to learn more.
Multi platform support - log in and manage your account on iOS, Android, Windows, Mac and the Internet.
Tier 2 Option Trading - Webull supports both Tier 1 and Tier 2 options trading and Tier 3 is planned for the future.
Level 1 allows for the introduction of covered calls and cash on the basis of the state.
Level 2, which requires additional approval, allows you to make long calls and long trips.
Level 3 allows you to bet on a wider spread, and it will appear later in 2020.
Real Market Data - Even if you don't want to buy or sell, you can log in to receive market and price updates. You can set up a market home page for data from several countries and regions, including the U.S., world markets, cryptocurrencies and others.
Extended Quotations - Get more and faster detailed offerings through extended payment. Most markets are available for less than $10 per month. You will pay three times more for the advanced data of the London Stock Exchange and the Hong Kong Stock Exchange and the Toronto Stock Exchange, as well as the Nasdaq stock market.
Trading Pair - Trade on the stock exchange with Pair Trading. Paper Trading uses virtual dollars on your account so you can test different strategies without risking real money.
How does Webull work?
Sign up for Webull to manage all of your account needs. This includes money transfers, basic account management, and reviewing key details about your account.
Account types on Webull
Money accounts are regular trading accounts where you can only trade using available funds in your accounts.
For example, if you only have $100 in your account, your total amount of trades can be no more than $100. There is no minimum deposit required for a money account. Traders also do not incur the cost of opening an account.
Using a margin account, you can receive a loan of up to 50% of the purchase price of securities. These securities can be bought on margin, allowing you to leverage your position and earn higher profits than your holdings would normally allow.
You can trade futures, short stocks and options in this account. The minimum deposit for the account with short selling and limited day trading is $2,000. On the other hand, to get access to both short selling and unlimited trading, you will need to invest $25,000.
Both account types can have up to 2: 1 leverage for overnight positions and up to 4: 1 for day trading. Short positions are also allowed for both. In the former, you can make a maximum of 3 day trades per week.
Free trading is easy to enter and control on any of the Webull platforms. Once you have funded your account, simply open the page with the shares you wish to trade and tap the large blue "Trade" button at the bottom to enter the number of shares.
The stock trading screen will offer you a number of popular options for how to enter your trade. This includes lime, market, zooping and even the OTO (one of the triggers). Webull technology allows even sophisticated investors to enter into highly complex contracts.
You can take part in a trade, which lasts longer. Either add stock performance conditions or a stop loss. Some stocks are not available, such as Rye Leaf and Post-Brexit stocks. But for most stocks, ETFs and American Depositary Receipts (ADRs) on the main markets you can view and trade on your Webull account.
To trade options on Webull, enter the value you wish to trade when you intend to buy or sell shares. But instead of entering order details and clicking the "Buy or Sell" button, tap on the menu option called "Parameters".
Trading options require a short order, which is common among all brokerage companies. According to Webull, the approval usually takes one business day.
The options screen displays a stock options lancet as well as a number of important details. You can view the calls and paths, rate / note rotations, prices of the forwarding and a group of useful data points. Click on the menu on the mountain and choose between Straddle View and ListView. And sort the strike prices by increasing or decreasing.
There are not as many advanced graphical functions as some of the bigger brokers for active trading, but it works well for the majority of users.
Webull announced that in the future cryptocurrency will be available, including bitcoins, litecoins and other digital currencies. You can already check out the prices of cryptocurrency in Webull. And at this time Webull allows you to subscribe to the newsletter, when the cryptocurrency is trading.
Is it risky to use Webull?
Some people may be nervous about registering and transferring money to an Internet broker, which is only a few years old. Although commonplace problems, Webull has developed creative measures to protect your assets and investments on their platform.
Trading is handled by Apex Clearing, the main player in the management of investment accounts. Webull is SEC listed and is a member of FINRA and SIPC. They are insured by SIPC up to $500,000 ($250,000 gross). Apex Clearing provides additional coverage up to $37.5 million per customer. If you do not have tens of millions of dollars on the platform, you must be pretty well insured for the value of your entire account.
Some investors may request to open an account with a brokerage company, which is a subsidiary of the company based in China. Webull's headquarters are legally located in the United States, but you must decide if you are comfortable cooperating with an international company for your brokerage needs.
How does Webull earn money?
Since you can sign up and trade for free, you may be interested in how Webull generates money. In fact, they are not a charitable organization. Here are a few ways in which Webull receives income from you or your account record:
Signing up for paid data: Signing up prices range from $2.99 per month to as much as $60 per month for some data sources.
Cash surplus deductions: Unavailable funds on your Webull account earn Webull deductions, similar to your savings account.
Margin charges: Trading nations pay a fee to Webull for the use of valuables. This is common among brokers offering margin accounts.
Manage the order flow: This part is particularly challenging and at times cumbersome. When you enter an order, Webull and Apex Clearing can charge a very small fee (in many cases a hundredfold) for routing the order through a certain market maker. Parts in the hundreds of millions of times stacked, as in Superman 3 and Office Space.
Web Trading Platform
The web platform is well designed with a user-friendly layout. The tools are well organized in an intuitive interface.
Webull also provides a two-step login that must be activated. To do this, enter the advanced security settings, go to the settings menu, and configure things to your liking. You'll receive security codes every time you log in to your Webull account; this feature ensures that your account is protected from unauthorized access. Users are advised to activate two-step verification to improve account security.
Its search functions are excellent. You can search the site by entering a company name and also by selecting an asset. When you enter characters, the automatic suggestion will give relevant results, thereby reducing the number of tasks to search for an item.
On the Webull web platform, you can access different types of orders. These are:
- Stop Limit
- Order brackets
Order limits that can be used on Webull platforms:
- Good until cancelled (GTC)
Mobile Trading Platform
Webull's mobile platform is one of the best on the market. It offers a user-friendly interface and access to most of the important features of the web platform.
It also has two-step login and price alerts. The mobile platform is available on both Android and iOS devices. You'll also find a great search function here, allowing you to find tradable assets using a company name or ticker.
Desktop Trading Platform
The Webull desktop platform is fully equipped with the same features as the web platform. It is just as user-friendly, and the charts and workspaces are fully customizable.
Investors using the desktop trading platform can get different types of orders. The design is seamless and allows you to set up news alerts as well as price alerts. You can use the advanced control panel to customize the interface for easy navigation. Basic data and charts are easily accessible here.
Alerts and notifications
You can set up alerts and/or notifications for the stock you want. To accomplish this task, you will need to search for each stock and then click the bell function to set price and other alerts for financial information.
On the sidebar of the Webull web platform, you can access commission reports as well as your portfolio.
Webull's virtual portfolio services
Webull offers virtual trading services so you can view the services in the app. By using your trading you can hone your investment skills without the risk of loss.
To get started in the app, click the paper trading icon. The demo account has a $1 million trading simulation. In the app, you can buy and sell stocks just like in real life.
Webull discussion boards
Webull discussion boards give you more information about trading and investing. This feature allows you to benefit from the know-how of more experienced traders and improve your strategies. You can also initiate discussions and get information on various topics from other account holders.
One of the key points is the fact that it currently does not charge commissions for trading across the board. If you have a U.S. bank account associated with your account, you will not pay a commission for depositing or withdrawing funds.
However, when trading ADRs, you will pay a fee of $0.01 to $0.03 per share. These are currently market rates:
Dollar amount ARD interest rate in %
|Debit Balance||Annual Margin Rate|
|0 - 25,000||6.99|
|25,000.01 - 100,000||6.49|
|100,000.01 - 250,000||5.99|
|250,000.01 - 500,000||5.49|
|500,000.01 - 1,000,000||4.99|
|1,000,000.01 - 3,000,000||4.49|
Is Webull really free
This broker does not charge any commissions. Opening and maintaining an account is also free.
Deposits, Withdrawals and Supported Payment Methods
Your main currency for deposits and withdrawals is US dollars only, and Webull only supports the use of bank wire transfers for these transactions.
If you choose a bank transfer, be prepared to pay a high fee, but you will not incur a fee for ACH transactions, whether deposits or withdrawals. If you're outside of the U.S., your only option is a bank transfer.
ACH does not charge a deposit fee with Webull. However, you will need to pay an $8 fee if using a domestic wire transfer, and an international wire transfer carries a $12.5 fee.
Domestic withdrawals cost $25, while international transfers cost almost double that at $45.
Pros and cons of Webull.
- Free shopping.
- Webull offers no-commission trading in stocks, ETFs and options.
- No minimum investment required to get started.
- Regularly updated with new features.
- Webull continually adds new features to their platforms.
- Limited investment choices
- You cannot invest in mutual funds or shares of stock.
- Little research and educational resources.
- In contrast to many other mediators, there are not many resources for training.
Webull does not try to be everything to every investor. But if you're the type of investor who enjoys a low-cost, technology-driven brokerage experience, you'll probably be very pleased with Webull.
This broker is best suited for people who can independently serve clients and have some investment knowledge and experience. If this sounds like you, don't hesitate to try Webull.