Last Updated: August 9, 2021
No fees or commissions on stock or ETF trades
Webull offers users stock trades with no commissions and is available on desktop as well as mobile. Its app gets praise as a genuinely decent one, and they have a lot of research and analytics to boot. This is a popular brokerage firm, and our Webull review will dive into just what makes it so great.
What Is Webull?
As it started as a research firm, Webull has access to vast amounts of data that helps it offer information- and knowledge-driven services to its users.
It’s a mobile-focused and community-driven online broker with unique social features. The app is easy to use and well-designed, while Webull itself offers impressive capabilities.
On the other hand, it lacks in terms of educational support, trading tools, and analysis. Still, it’s an affordable trading platform, ideal as an introduction to the trade market.
Stick around as we get to know the app a little bit better. This review of Webull will examine all the features and benefits that make it stand out in the crowd of online trading platforms.
How to Use Webull
Getting started with Webull isn’t overly complicated or difficult. The online stock broker does its best to make online trading as easy as possible.
Buying or selling your first stocks can be pretty overwhelming, but this platform actually makes it fairly simple. Whether you choose to use Webull brokerage on your desktop or mobile, it’s as straightforward as stock trading can be.
Both options are designed to be beginner-friendly but also feature-rich to please more advanced traders.
The interface is clean and easy to use, and you won’t likely get lost as you learn how to buy stocks.
You will also get a better sense of what online trading is all about as you explore the platform’s services and different features.
You start your journey on the platform by creating your own Webull account. Signing up is free, and you get two free stocks valued up to $1,850 when you first sign up.
Although Webull is mainly aimed at the United States and China, traders from Canada are welcome as well. It’s not available for citizens of other countries, unfortunately.
What Are the Account Requirements?
You must be at least 18 if you want to sell or buy stocks online. You will have to provide the platform with proof of residency as well as proof of identity.
You can prove your identity with your Social Security Number, driver’s license, ID card, or passport. You can do all this digitally and in the comfort of your home with the Webull desktop platform.
After registering your account, you can get familiar with the platform and its features. There is no minimum deposit requirement for regular trading, so if you’re really keen, you can begin trading right away.
However, for margin trading (we discuss this a bit later), you must have at least $2,000 in your account.
Although there isn’t much in the form of educational support, you can at least learn to trade with Webull paper trading.
It allows you to get into online stock trading without using real money. That way, you learn the basics with no risks involved.
What Can You Trade?
Webull lets you trade more than 5,000 American stocks and ETFs, as well as cryptocurrencies. It also offers the ability to sell shares short and access to IPOs.
How to Start Trading
When you have created your account and proven your identity, you are ready to start trading on Webull.
You can trade with a Webull margin account or a cash account. With the latter, you pay the full amount for securities you purchase.
On the other hand, a margin account allows you to leverage the funds and securities you already own to buy more securities.
Webull’s paper trading gives you $1 million to play around with. This is a lot more than most of us have available for stock trading, but it will help you get used to buying and selling stock online.
When you’re more comfortable with actual trading, you can make a watchlist. With this list, you can keep track of all the stocks you’d like to trade.
Other Webull reviews agree with our findings that this feature is ideal for beginners. It’s great for learning more about how stock prices fluctuate.
What Features Are Available?
You can set up alerts that will let you know if a stock hits a specific price. This is great for learning when to buy and sell your stocks.
The platform also has a unique feature: a market replay. With it, you can view video replays of stock chart time lapses. This feature gives you a perspective of the market you are unlikely to find on other stock market apps.
The Webull Community is like a private Twitter feed. You can join the community and share your thoughts or ask for advice. Users also like to share predictions.
Additional Webull options and features include a stock screener that comes with customization and filters and analysis tools. However, the latter aren’t very comprehensive or sophisticated. They provide info on trends in financial statements but not a whole lot more.
Webull disappoints in that it doesn’t offer banking services, assistance from experts, or a robo advisor option. With these features worked into the platform, it would provide a comprehensive service that would be hard to match.
Webull Client Portal
The client portal is reasonably easy to use and practical. The Webull app lets you monitor your investments and the stock market.
With the web-based tool, you can keep an eye on currency rates, market news, and your security data.
You have all the features you need to make informed choices when trading stock.
How Does the Platform Work?
You can keep track of the stock markets that matter to you with your watchlist and market replay.
Once you’ve chosen the stock you want to trade, you can dive right in and build your stock portfolio.
Can You Day Trade on Webull?
Day trading on Webull is possible, but there is a catch. You must have a margin account to qualify for this form of trading.
Additionally, your margin account needs to have more than $25,000 before you can make as many day trades as you wish.
With anything less than that $25,000 in your account, you can only make three trades in a span of five workdays.
For some investors, this will not matter; it might feel like an unnecessary inconvenience for others.
Next, in our Webull review, we will look at the fees involved in trading on this platform.
Thanks to Webull’s no-commissions approach, you don’t have to be loaded to start trading.
Here’s a look at the fees you can expect to pay when trading through Webull:
|Stocks and ETFs||$0|
|Local Wire Transfers||$8 deposit fee
$25 withdrawal feeNo fees for direct deposits
|International Wire Transfers||$14 deposit fee
$45 withdrawal fee
Webull Mobile App
Our brief Webull stock app review will look at how easy it is to use and offers the same features as the platform’s web and desktop versions.
Overall, the app is well-designed, user-friendly, and relatively sleek. The data and graphs are presented in an uncomplicated, easy-to-understand format.
All versions of the platform resemble each other, so it’s easy to navigate between them. It has more features than many of its competition, but it doesn’t have all the trading tools you’d expect.
The lack of tools puts Webull a bit behind most of its competition, but it’s still a great app.
Webull Customer Service
Sadly, Webull customer service doesn’t have a good reputation. You can reach the team through email, on the phone, and via the online message center.
Users have reported that phone call support is slow and unsatisfactory, and emails are often left unanswered.
The message center works perfectly, though, and this is your best bet if you need help or advice urgently. In addition, the Webull Community (found on the app) can also be useful as users are often willing to help each other out.
No Webull review could be complete without comparing the platform to its competition. So, let’s look at how Webull stacks up against other popular and trusted stock trading platforms.
Webull vs. Robinhood
Both of these stock trading apps offer low prices and a mobile-friendly approach. In general, Robinhood is better for beginners. It has more educational support and more diverse investment options.
However, Webull has a much better mobile trading app, which outshines Robinhood’s offer. For more details, check out our side-by-side comparison of Webull vs Robinhood.
Webull vs. E*TRADE
Many Webull reviews point out that Webull is tailored towards short-term traders while E*TRADE is better for high net-worth traders. Although traders with lots of money can go for short-term trading, E*TRADE offers them more feature-wise.
You don’t need to meet a minimum amount requirement with either platform, and you get commission-free options. But again, Webull’s mobile app is superior. It is more user-friendly and responsive.
Webull vs thinkorswim
There are no account minimums or commission fees with either Webull or thinkorswim.
Webull is user-friendly and suitable for beginner investors. In comparison, thinkorswim is better suited to traders with more experience.
They’re both ideal for active trading, and their apps are equally impressive. The Webull free stock offer makes it stand out, though.
Overall, Webull may not be the best stock trading platform available; it is certainly working towards that number one spot. It hasn’t been around that long (established in 2017) and still has much space for growth.
With zero commissions, no minimum account requirement, and a reliable mobile app, Webull has a lot of potential to become the best online brokerage.
- Free commissions
- Well-designed app
- Ease of use
- Low costs
- Cryptocurrency access
- Few tradable securities
- No mutual funds
- Limited educational support
Can you make money on Webull?
It is quite possible to make money via Webull once you’re used to trading. When you have more knowledge, you will make better investment choices and make more money. It just takes patience and determination.
Is Webull safe?
Webull is a safe online trading platform because it is regulated by the Securities Investor Protection Corporation's (SIPC) protection scheme. Users enjoy up to $500,000 investor protection ($250,000 cash). In addition, Apex Clearing insurance policy covers securities and cash up to $37.5 million per customer in securities or $900,000 in cash.
Is Webull free?
As we’ve discussed in this Webull review, using the platform is free — there are no commissions or hidden fees. The only thing you might have to pay for are wire transfers, but you won’t be surprised by any expenses coming from this platform.