Everyone has heard of the free commission stock trading app known as Robinhood. Well, there’s another free trading platform that’s been gaining popularity and it’s called Webull.
Webull is a trading platform that has the best research and analysis tools of all the free brokers. It’s paper trading capability and real-time market data make it a stand from the competition. Webull is also growing at an incredible rate and is constantly unveiling new features.
Webull launched its commission-free trading app in May 2018. Before this, they were mostly used as a research platform giving real-time data on the stock market and providing some of the best tools for helping investors prepare for online stock trading.
Now they offer one of the most professional investment apps built for online stock trading and provide it free of charge with no membership costs, no commission fees, and no data fees.
After reading this comprehensive Webull Review, you’ll know what Webull can offer you in terms of trading stocks and have all the information necessary to determine if this is an app you’ll want to add to your trading arsenal.
Inside Webull – My Actual Account
What Platforms Does Webull Support
Currently, Webull can be downloaded on desktop and mobile devices. Webull supports Mac, Windows, and Android devices.
They also have a web application so you can access your account through your browser. at the iOS App Store and Android’s Google Play store. Their mobile apps are where you can utilize the majority of the features that I am reviewing below.
I have downloaded it on my iPhone and the platform works very smoothly.
Note: I’d love to hear the experience of someone that has the Android app. Please leave a comment below if you have downloaded the android app to share your experience with the group.
They also have apps for Windows, macOS, and the Web which I really enjoy for a trading platform. Trading, using technical analysis is very easy and intuitive on their desktop apps and I actually enjoy the larger charts for technical analysis better than using the mobile app when I am on my computer.
What Can Be Traded with Webull?
What makes Webull unique and stand out from the competition is its huge suite of research and analysis tools for the markets and stocks. I mean, I was blown away when I first saw how much data and information was provided on this app.
Securities that Can Be Traded
Currently, Webull supports the free trading of over 6500 Stocks and ETFs in the United States. Options and Crypto trading is also available. You can not trade mutual funds or bonds as of now.
They support the following order types:
- Market Orders
- Limit Orders
- Stop Orders
- Stop Limit Orders
Each order can be made with the option to have the trade expire at the end of the day (Day Order) or until canceled GTC) to ensure you get your trade to execute under your conditions.
This gives you the flexibility to ensure you never miss out on a trade and it also protects you from forgetting about orders you placed in the past if they would have taken several days or weeks to fill. You can program your trade to utilize a Stop Loss and Take Profit action.
This prevents you from losing more than you are prepared to lose if you are away from your app as well as ensures if your price target is met, the order closes and you don’t lose profits as well.
Does Webull Offer Extended Hours Trading?
Webull allows free extended hours trading otherwise known as pre-market and after-hours trading. This means that when the market is closed for the general public, you will be able to make trades. The normal market hours are 9:30 am – 4:00 pm EST. Below is the extended-hours trading schedule.
- Premarket 4:00 am – 9:30 am EST
- Aftermarket 4:00 pm – 8:00 pm EST
One huge benefit to Extended Hours Trading is that Earnings Reports and PR announcements generally happen when the market is closed and so this would give you the opportunity to react to news outside normal trading hours.
That’s a huge benefit and not all brokerages give access to this feature without a fee.
Does Webull Offer Day Trading?
You can make three day-trades within any 5 day consecutive business day period (including pre-market and after-market). This is the same for all brokerages and is regulated outside of Webull.
If you have an account with a balance of $25,000 or greater, you can day-trade unlimited on Webull. It has alll of the tools necessary and the charting on the desktop apps are very intuitive and easy to navigate with 25 indicators.
I have used TD Ameritrade’s Think or Swim Platform for trading as well as Webull and can say that they are both terrific platforms. Webull continues to update their platform with new features and is very active in catering their trading platform to the needs of their users.
Many popular traders that share their experience and live trades on YouTube also recommend and use Webull.
You Can Trade Options on Webull
If you are interested in trading options, Webull has you covered. They offer access to trading options based on your level of experience and risk tolerance. You can apply for it as soon as you open your account and only need to answer a series of questions regarding risk and experience to ensure you know what you’re doing. This is in your best interest since if you start trading Options without knowing what you are doing, you can quickly blow up your account.
That being said, even with a relatively small account, I was able to get access right away to trading spreads and muti-leg trades.
How much does Webull charge for option trades? Unlike other brokerages which charge you to open and close trades and charge additional fees for extra legs in an option trade, Webull charges NOTHING.
Webull Now Offers Cryptocurrency Trading
This is a pretty new feature for Webull and by far it’s not one of the best features. They offer to the ability to view the price action of almost 20 cryptocurrencies but as of right now, you can only trade 7 currencies. I expect this to change in the future but if you are considering Webull for Cryptos alone, you should probably head over to Coinbase or other Crypto trading apps.
Cryptocurrencies that you can trade on Webull include:
- Bitcoin (BTC)
- Ethereum (ETH)
- Litecoin (
- Bitcoin Cash
What Types of Accounts Can You Open in Webull?
Webull offers two account types: Cash Accounts and Margin Accounts. Cash accounts DO NOT require a minimum deposit. Margin accounts require a minimum deposit of $2,000.
Margin Accounts allow you trade on margin which means you can make trades without having the funds deposited in your account. This gives you more buying power but does come with risk. Webull loans you the capital to make trades as long as you pay the margin rate seen in the chart below:
Margin trading on Webull is very straightforward in regards to fees but I would caution beginner investors from trading on margin because you can find yourself owing Webull a lot of money if you make a bad trade and don?t have enough money in.
Even though Webull charges $0 commissions on all trades, it should be noted that standard SEC and FINRA fees may apply. These are fees that apply to all brokerages and come from outside entities. No brokerage can waive these fees although they are generally negligible and so small, you may not even notice them.
Webull Now Offers IRAs
One of the newest features Webull has introduced is the ability to open an IRA account. They offer an IRA account with Zero Commissions, no account opening fee, and no management fee.
You can sign up for a Traditional IRA, Roth IRA, or a Rollover IRA. IF you transfer a balance from another brokerage, Webull will reimburse the transfer fee up to $100.
Webull Research and Analysis Tools
This is the most exciting feature Webull offers in my opinion. What separates Webull from its competition, is its incredible resources and trading tools for investors. Webull offers a range of tools designed to help screen, analyze, and research stocks.
If you ever wanted to try an investing strategy but were afraid to put your money on the table, now you can! Webull offers paper trading, a trading simulator built into the app that allows you to trade stocks using fake money and still take advantage of real-time quotes.
Webull starts you out with $1,000,000 to invest. If you lose it all or want to start over, simply reset the account with the click of a button and try again.
This allows you to try various strategies risk-free and is an amazing resource. Then once you feel confident, you can try your strategy with real money and feel more confident when you trade stocks.
A lot of big stock brokerages offer this. The fact that a brokerage that offers zero-commissions put the money into building this kind of tool is a tribute to their commitment to being the best brokerage out there.
Use Screeners to Find the Perfect Stock
If you are a student of Fundamental Analysis, stock screeners are awesome. Stock Screeners allow you to build a filter based on the exact criteria you are looking for in a stock. You can sort stocks by regions (so you can track the Global Markets), exchanges, or market sectors such as NYSE technology stocks as one example.
You can also sort by Quote Indicators which will show you P/E ratio, Price, Volume, Market Cap, and more.
Sorting by EPS (earnings per share), dividends, and dividend yield is also available.
Do you want to buy stocks that meet a particular Technical Indicator? There’s a way to screen for that as well. Set a screener for RSI, MACD, Three White Soldiers, and many others.
Of course, you can even sort stocks based on Analyst Ratings if you want to leave the heavy lifting for someone else.
For example, if you want to find stocks on the NYSE that are in the financial sector and have a P/E ratio between 5 and 15 and also pay an annual dividend of at least 5%, it’s as easy as clicking a few squares. Once you hit save, all the stocks that meet the criteria you chose will be listed for you.
Browse Stocks Based on Broad Categories
You can also browse stocks by the Hottest Industries, Hottest Stocks, Hottest ETFs, Most Active, Top Gainers, and Top Losers.
By browsing these simple categories, you can identify stocks that have recently made big moves and you can look for opportunities to buy in or cash out profits!
These categories are easy to browse and are constantly updated. You are always receiving the latest and greatest in what’s trending now!
The option to see the latest and upcoming IPOs is available so you always know when new companies go public and can accept investors. At the Earnings Center, you can see which companies are about to report earnings so you never lose sight of when a company you own or are pursuing may take a swing in price as a result of their report.
Finding individual stock to invest in has never been easier. Webull just released its latest app update which means that you are getting the latest in their advanced platform.
Webull’s Charting Capability is Off the Charts!
With the latest update, their desktop and mobile trading platforms allow you to review market data, analyze graphs, and with the press of a single button, enter or exit a trade.
This means that if you are waiting for a specific signal to occur and it finally does, you won’t miss the trade. Simply click trade and submit the order in a matter of seconds.
This is a huge feature for technical traders that use candlesticks. Their charting features give you access to 25 indicators to give any experienced trader the ability to analyze stocks in accordance with their trading style.
Is My Money Secure and Safe?
In short, yes! Webull is regulated and transparent with its ability to ensure your cash.
Upon verification using FINRA’s Brokerage Checker, we see that they are registered and regulated by FINRA. FINRA? which is a private corporation that is government authorized to regulate brokers and protect investors.
Webull is a member of the (Securities Investor Protection Corp. (SIPC). The SIPC protects up to $500,000 in securities such as stocks and bonds ($250,000 limit on cash).
In addition to this though, Webull is protected by an additional insurance policy to ensure an aggregate amount of $150 million dollars (up to $37.5 million per customer for securities and up to $900,000 in cash).
Does Webull Have Any Incentives to Join?
They sure do!
When you download the app on your mobile device or join online, you will be given 4 free stocks at random (valued up to a total of $3,700.
You get the first 2 stocks just for signing up and the second 2 stocks when you deposit at least $100..
If you transfer your funds from another brokerage, Webull will reimburse the transfer fee up to $100.
Takeaways from this Webull Review
Before we show the scorecard below, let’s discuss the simple takeaways. Webull offers an incredible suite of research and analytic tools for investors to use in order to make the best trades.
Webull’s new interface makes trading lightning-fast and integrates seamlessly with the graphing charts.
The vision of Webull is simple: giving everyone the tools to trade with zero membership fees and zero commission fees.
The only downside is that you can not trade mutual funds, bonds, or cryptocurrencies at this time.
They have plans to continuously roll out new features in the upcoming months. In the meantime, if you are interested in trading cryptocurrency for free, check out our Robinhood Review or our Coinbase Review.
I think this is one of the best apps for trading stocks on the market today. In fact, I have recently begun moving more of my money into this platform.
Ever wonder what to invest in during a recession? Check out our article on 7 of the best investments for a recession.
As always, Let’s Start Investing!
Ease of Use9.0/10
- Zero-Commission Fee Trading
- Paper Trading available to practice without risking actual capital
- Intuitive and Extensive Screener Tool
- Excellent Analysis and Research Tools
- Great Referral Program to get Free Stocks
- Doesn't allow for trading mutual funds, options, crypto-currencies or bonds
- Limited Educational Resources