Webull is one of the more recent online brokers, founded in 2017 and debuting with only a mobile app in May 2018.
Webull is a subsidiary of Fumi Technology, a Chinese fintech firm that provides real-time market data, analytical tools, and trading technology.
The technical team of Webull is situated in Hunan, China, while the customer-facing and brokerage activities are centered in New York City.
This mobile-first launch reflected Webull’s primary target market: millennials.
It positioned itself to serve newer and more active traders, as well as those lured to a platform that offers a wide range of free services, such as no account minimums, commission-free trading of stocks/ETFs and their options and several cryptocurrencies.
It is gearing toward self-directed investors, with a less extensive offering than full-service competitors.
However, Webull users receive a lot of bang for their buck: a beautiful platform with a plethora of valuable tools and features, as well as attractive profit rates.
|Regulated||SEC and SIPC|
|Trading Platforms||Web, Mobile, Market replay, quote data|
|Assets||Stocks, ETFs, Options, Cryptocurrencies|
|Penny Stock Fees (OTCCB)||N/A|
|ETF Trade Fee||$0.00|
|Options (Base Fee||$0.00|
|Options (Per Contract||$0.00|
|Futures (Per Contract)||N/A|
|Mutual Fund Trade Fee||N/A|
|Broker Assisted Trade Fee||N/A|
Webull supports the most popular order types: market, limit, stop, stop limit, and trailing stops.
There are also specialty orders such as one-cancels-the-other (OCO), one-triggers-an-OCO (OTOCO), and one-triggers-the-other (OTO), which allow traders to set up a conditional order in which a filled limit order establishes an OCO with both a stop loss and a profit taking level order attached once the initial position is established.
Webull does not provide market-if-touched, market-on-close, or any other comparable orders.
Webull does not provide traders with control over tax lots on sales to terminate a long stock position; instead, they employ the first-in, first-out (FIFO) system.
Webull also lacks automated trading, strategy backtesting, and order staging.
Webull Trading Technology
Webull’s trading system is simple, but it gets the job done. Webull reports a net price increase of 0.0056 cents per share and $1 per options contract.
There is no smart order routing, trading automation, backtesting, or the ability to route your orders.
However, this is consistent with the broker’s no-frills approach to cutting expenses.
Webull’s Learning Center does not offer investor education on portfolio management and trading.
Therefore Webull traders are on their own when it comes to learning how to maintain an account and trade.
Instead, Webull provides a set of educational materials utilizing Webull’s platforms and features, mainly in text and screenshots.
Some sections explain the workstation, discuss frequently used features, demonstrate how to alter layouts, and showcase the various trading tools.
Aside from the fun and unique community, Webull’s research tools fall well short of industry heavyweights TD Ameritrade, Fidelity, and Charles Schwab, which all provide $0 stock and ETF transactions.
Webull provides a screener, analyst ratings, price targets, corporate news, and a list of ETFs that own the stock for stock research.
Aside from that, there are no research papers, technical analysis insights, or in-house market commentary.
Webull does offer a blog. However, I found just one valuable item for research, which showed the top ten most active stock options from the previous week.
Another research tool and a unique way is the Webull community.
The Webull community, which functions as a private Twitter feed, is one of the service’s distinguishing features.
Users can react to price movements or remarks on specific stocks and news.
Users may also forecast whether a stock will climb or decline in value, earning Webull points for the right forecasts.
You can redeem Webull points for Webull goods such as paper trading competition entries, in which users can win real money by trading simulated portfolios.
It provides stocks, ETFs, options, fractional shares, and also the opportunity to sell shares short.
Mutual funds, futures contracts, and also bonds are not permitted. It also supports several major cryptocurrencies, including bitcoin, ethereum, and dogecoin.
Webull also gives traders access to IPOs without requiring a minimum account balance. It does not provide banking, automated portfolios, or advisory services.
Customer Service Of Webull
Webull’s restricted concentration on younger, tech-savvy, self-directed clients.
This was done because interest in the free trading possibility leads to a limited customer assistance provision.
It does not offer financial advisors, but consumers can chat with a live broker if they are ready to wait on the phone for more than two hours.
Security of Webull is pretty solid as they are a new brokerage, and they work digitally from the beginning;
They excelled at the security part.
- All platforms of Webull support two-factor authentication.
- Mobile provides the option of biometric login via fingerprint or face recognition.
- There is a second six-digit number password for trading access, which adds an extra degree of security.
- In 2020, there were no major platform disruptions on Webull.
- In the last four years, it has not had a data breach.
- It goes above and also beyond the Securities Investor Protection Corporation’s (SIPC) $500 thousand ($250 thousand in cash) protection by purchasing an additional insurance policy providing an aggregate amount of $150 million of protection, with maximum limits per individual of $37.5 million ($900 million in cash) for losses suffered unrelated to account losses related to the value of securities.
What differentiates It from others?
There are some of the things which make Webull different from others.
- It is very well-structured.
- It is user-friendly.
- You can go for fast and easy account opening.
Our experience with the product
Stock marketing is gaining a lot of popularity, so I wanted to try it as well. I started my journey in stock marketing with Webull.
It has provided me with all the features and benefits I was looking for. I did not face any kind of problem while opening the account.
I was also guided step by step by the professional staff of the company. I am one of the regular customers of the company, and it has treated me very well.
Let’s compare it with some other trading companies.
Webull vs. moomoo
If you are looking for zero Commission trading, you should go for moomoo. Here you do not have to pay any commission, and you can also focus on the market.
Webull will provide you with easy platforms, on the other hand, it is one of the most convenient companies for online trading.
Webull vs. Robinhood
If you are new to stock marketing, you can go for Robinhood. It will give you a smarter approach to focus on the US Stock Market.
Here you will learn many tips and techniques, and eventually, you will become one of the professionals in stock marketing.
It is recommended to start from RobinHood as a beginner.
Webull vs. SoFi Invest
SoFi Invest is also very convenient for beginners who are just coming into the stock market.
It is best for the US Stock Market, which is considered the best globally. You will not have to pay any commission, making it the same as Webull.
There are many things to learn from this company as a beginner. They will provide you necessary information on your concepts of the stock market.
It is an excellent option for the trader or active investor who does not want guidance.
It is also tempting to people who wish to attempt trading because there are no additional expenses.
There is no minimum account size, competitive margin rates, and also commissions on stocks, ETFs, options, and cryptocurrencies.
Furthermore, you will have free access to well-designed and easy trading platforms for desktop and mobile devices, as well as useful trading tools.
While full-service brokerage firms such as Charles Schwab now offer commission-free stock and ETF trading, Webull’s $0.65 commission per option contract and higher margin rates make it an appealing alternative for margin users and active options traders who may otherwise find Webull’s options trading tools lacking (but still functional).
Most traders will be happy with it since technology provides reasonable limits and other order types.
However, NASDAQ Level 2 quotations will not tempt sophisticated day traders who seek the greatest price execution or complete control over how their orders are routed.
How do I deposit Webull?
You can transfer payments to US bank accounts using ACH or wire transfer. ACH transfers are free and may be initiated using the Webull app. You may, however, only transfer up to $50,000 every business day. A wire transfer may be used to deposit funds into your account, but expenses are involved.
Can you trade in extended hours on Webu
Yes, you may trade after hours by setting limit orders with the option “Include after hours.” Pre-market trading hours are 4:00 AM – 9:30 AM EST, while after-hours trading hours are 4:00 PM – 8:00 PM EST. Please ensure that “Yes” for “Ext-Hours” is selected for extended-hours trading.