Webull Review (Commission Free Trading)

Webull Review

As investors, we demand cheap, convenient, and intuitive online brokerages.

Buying and selling stock investments used to require calling a stockbroker who would charge you absurd amounts for a simple stock trade.

These days, you can do almost anything on your phone – including investing your money.

The fact is, times have changed, and the increased competition between brokerages has investors (like yourself) coming out on the winning side.

Today there are apps like Stash, Stockpile, Acorns, and many more.

And each of these brokerages offer their own unique value proposition.

For example,

  • Stash is great for beginner investors that need articles and tips.
  • Stockpile lets you buy and sell fractional shares of stock.
  • Acorns will “round up” your spare change and invest it in the stock market.

In fact, many investors opt for more than one investing app because of these different features.

That is right – we all have different goals, amounts to invest, risk tolerance, and knowledge about investing.

Therefore, certain apps are great for some investors and not-so-great for others.

There are investment apps for all kinds of investors, from beginner to the elite.

So, for the purposes of today’s article, let us examine what your needs are:

  • Are you looking for commission-free stock trades?
  • Are you looking for a stock brokerage with no account minimum?
  • Are you a fundamental or technical investor? Both?
  • Are you looking to trade on margin?

If you answered yes to 3 out of 4 of these question…

Webull may be the investment app to suit your needs!


The broker-dealer Webull offers:

  • 100% commission-free trading;
  • No account minimum;
  • Tools for fundamental and technical investors; and
  • Easy access to margin.

If this sounds good to you, stay tuned for the rundown on this investment app.

Webull Review Overview

Webull Financial LLC is a registered broker-dealer with the Securities and Exchange Commission (SEC), and a member of FINRA and SIPC.

The company was founded in 2018 and currently resides on 44 Wall Street, New York City, New York (the heart of Wall Street!)

And most recently, in 2018, Webull announced its app in a press release.

Nowadays, the company is a mobile app-based brokerage with many different benefits.

So, what does Webull bring to the table?

The company prides itself on bringing new and useful tools to enable investors to make smarter decisions.

Webull believes that everyone should be able to control their own financial future…

…and, this is why Webull provides commission-free trading to all users.

According to Webull CEO Anthony Denier:

“This is why we have created a professional-level trading platform that previously was only available to professionals or the super wealthy.”

This statement comes straight from Denier who brings 15-years of professional global brokerage service experience to the table.

In addition to commission-free trades, the app contains numerous technical research that helps you execute better trades.

These resources include:

  • In-depth news;
  • Real-time market data; and
  • Analysis tools.

And if that is not enough, the company prides itself on continually improving its platform and creating new and useful tools for users.

Webull Platform and Tools

The Webull trading platform is offered in a mobile web-based app and desktop app.

Both options provide an intuitive and easy-to-use user interface.

The platform is excellent for both fundamental and technical stock analysis.

Overall, I think the common theme for Webull is FREE.

If you do not catch my drift, please allow me to explain…

You can access features that most brokerages charge for, but the same features are 100% free with Webull.

The free features include news, real-time market data, analysis tools, and trading commissions.

The real-time market data is available for all U.S. markets.

Having access to timely and accurate data ensures that you are seeing consistent, real prices in real-time.

If you are an active trader, the real-time market data will be an invaluable resource.

The news stream offers real-time financial news.

The news stream section provides articles from sources like Reuters and Bloomberg.

This feature gives you a single location to view financial news and provides a mixed collection of content to provide you with diverse views on specific topics.

The agency rating feature gives you the ability to track and see expert analyst ratings on specific stocks.

Smart alerts give you the ability to set numerous alerts that will notify you if a stock hits a fixed price, moves a set percentage, or has reached a specific volume level.

You can use smart alerts to notify you at a certain price level or after specific changes occur.

In terms of fundamental analysis, the platform enables you to access revenue data, and historical earnings per share.

There are also key statistics, insider trades, stock information, including earnings, dividends, and stocks splits.

And, as promised, there are tools for fundamental and technical analysis.

Smart tools of Webull include:

  • News
  • Press releases
  • Analyst recommendations
  • Historical EPS
  • Revenue data
  • Insider holdings and transactions
  • Financial calendars
  • Stock screeners
  • Watchlist and alerts

Webull news

For technical analysis, the app gives users a real-time bar, candlestick, and line charts.

Technical analysis indicators include:

  • Exponential moving averages
  • Bollinger Bands
  • Money Flow Index
  • MACD
  • RSI

One of the primary reasons Webull is one of the top researchers is the fact the company provides research and tracking for stocks, ETFs, indices, futures, cryptocurrencies, options, and commodities.

The app also comes with real-time quotes.

webull stocks

Other useful features include:

  • Margin trading
  • Extended-hours trading
  • Customer service (email, chat phone)
  • Short-selling

The best part is that these features are held at your fingertips with the use of your mobile device.

Webull Education and Research

Webull offers top-notch education and research tools that are easy to use, navigate, and access information.

The research includes markets, news, individual stocks, and a screeners page.

webull stock screener

The screeners’ page allows users to choose:

  • Which stocks to track; and
  • Which technical parameters to watch

You can use these tools to uncover new investment ideas. For instance, you can use the stock screeners to find things like “Biggest movers in the last 5 minutes.”

Additionally, you can use this feature to view an economic calendar with upcoming Initial Public Offering (IPO) dates, earnings, and other news relevant to your stocks of interest.

And finally, one of my favorite features is the stock trading simulator.

webull paper trade

The trading simulator enables you to trade with “paper money” (i.e., fake money) so you can test the waters without any risk.

This feature is valuable for new investors to learn the ropes, as well as for seasoned investors testing new trading strategies.

I began my investing education by using StockTrak’s portfolio simulations and trading room software.

However, you can use this in-app tool to gain valuable experience without the risk of losing money.

The tool also comes with real-time data and advanced charting for U.S.-listed securities.

So, there are plenty of research and educational tools at your disposal, as well.

Webull Customer Service

Webull customer services can be reached through chat, email, and phone.

The customer service response time is prompt, and users typically get a response in a matter of minutes.

Other trading platforms can take up to 24-hours, if not multiple days before answering your query.

Additionally, Webull’s Help page offers an extensive FAQ section that covers many of the basic questions.

The company’s FAQ page offers information on topics like opening an account, funding an account, and transfers of cash and stocks.

You can find answers to questions like (via Webull’s website):

  • I am at the step where I verify my email, but I can’t find the verification code in my inbox. What should I do?
  • I have a U.S. bank account. How do I make a deposit into my Webull brokerage account?
  • How do I transfer stocks to my Webull account?

So, the FAQ section covers many of the questions you may encounter while using the service.

You can also view the “Trading on Webull” section, which contains information about commissions, fees, tradeable assets, and order types.

Can’t find an answer? Make sure to email Webull for more details or to speak to an agent directly.

Overall, the customer service offered at Webull is on point for any query you may have.

webull faq

Webull Commissions and Fees

Webull offers commission-free U.S. stock trades and it is free to open and maintain an account.

Additionally, you can open a regular trading account without a deposit minimum.

However, there are some fee-based activities that you should know.

For starters, the SEC and FINRA charge minor fees on all trades (this is standard industry practice).

The SEC fees are $13 for a total of $1,000,000 of principal on stock sales only.

The FINRA fees are a trading activity fee of 0.000119 per share on stock sales only, with a minimum of $0.01 and a maximum of $5.95.

In addition to that, there are fees related to margin accounts.

To open a margin account, you are required to have a minimum of $2,000 in your account.

There are also margin interests that range from 3.99% to 6.99%. The margin interest breakdown as follows:

  • $0 – $25,000 = 6.99%
  • $25,000.01 – $100,000 = 6.49%
  • $100,000.01 – $250,000 = 5.99%
  • $250,000 – $500,000 = 5.49%
  • $500,000.01 – $1,000,000 = 4.99%
  • $1,000,000.01 – $3,000,000 = 4.49%
  • $3,000,000 = 3.99%

As you can see in the table – the larger the spend – the lower the interest.

You can make transfers for free via Webull; however, your bank may charge an additional fee.

Lastly, wire transfers are $25 for domestic and $45 for international.

After the initial wire transfer, the domestic wire transfer costs $8 per transaction, and the international costs $14 per transaction.

To summarize, here are the fees you should remember:

  • Margin fees:99% to 6.99%
  • Wire transfers: $25 domestic, $45 international

We found that Webull fees are significantly lower than other brokerages.

Webull Asset Classes and Account Types

Webull provides trading on over 5,000 U.S. stocks and electronically-traded funds (ETFs) in the United States.

You can trade with Webull during extended trading hours which includes pre-market and after-hours trading.

You can use these extended trading hours at the following times:

  • Pre-market trading hours: 4:00 a.m. to 9:30 a.m. EST
  • After-hours trading hours: 4:00 p.m. to 8:00 p.m. EST

In addition to these features, you can also leverage the sale up to four times the amount.

If you have over $25,000 in equity, you gain access to unlimited day trades.

However, the company does not support the trading of stock options, over-the-counter stocks, mutual funds, bonds, or cryptocurrencies.

For account types, you can open an individual taxable account and a margin account.

Webull does not offer retirement accounts.

Ideally, we would like to see more asset class and account types offered, but the app is great for stock trading.

Webull Security

One thing you should always look for is whether your brokerage is a member of the Securities Investor Protection Corporation (SIPC).

Why is this important?

The SIPC protects the securities of its members’ customers up to $500,000 (and up to $250,000 for cash).

Additionally, Apex Clearing Corporation provides an insurance policy.

The coverage limits protect you for securities and cash up to an aggregate of $150 million, subject to a maximum limit of $37.5 million for any one customer’s securities.

With that said, you can rest easy knowing that your money is safe and sound.

But remember, this insurance DOES NOT protect you against loss in the market value of securities.

What We Love about Webull

Commission-free trades.

You can execute unlimited trades without paying a cent in commission fees.

No account minimum.

You can put as much, or as little, as you would like to start investing.

Intuitive trading platform.

The platform is very well-designed, includes tons of features, and is surprisingly easy to navigate.

Leverage of 4 to 1 on margin trades.

Leverage up to 4 times the amount in the account for trades occurring on the same day.

Free trading simulator.

Use the free trading simulator to simulate new trading strategies or make your first few trades.

What We Don’t Love about Webull

Supports limited asset types.

Webull does not support trading options, mutual funds, bonds, and other assets.

However, you can access many different markets, including cryptocurrency, forex, and commodities.

Are You Ready Open a Webull Account?

If you are ready to get started on Webull, follow these steps to get set-up:

  • Start by downloading Webull App.
  • Sign up for Webull.
  • Select the button which says Open Account Select your account type.
  • Provide your basic information.
  • Accept the Terms and Conditions.

Once your application is in the system, Webull will send you a notification email in about an hour.

But as soon as you get your notification e-mail you can start trading!

Webull Review Summary

If you are looking to trade U.S. stocks and ETFs, Webull may be the right choice for you.

Webull is like Robinhood because each app offers zero-commission trades. However, each app has a variety of different features.

In terms of user experience, Webull is better than Robinhood because the app offers a robust platform, excellent tools, and after/pre-market trading.

But when it comes to free apps, there is no harm in trying them all and deciding for yourself.

We like Webull for ALL traders because of the wide-range of features and tools the app has to offer.

The primary benefits for beginner traders are commission-free trades, no minimum account balance, and free stock trading simulator.

These factors being present means:

  • You can keep more money in your pocket;
  • You do not need much money to get started; and
  • You can practice with the app before using real money.

For intermediate to advanced investors, the primary benefits are commission-free trades and fundamental and technical analysis tools.

These factors being present means:

  • You can keep more money in your pocket; and
  • You can perform your analysis entirely on Webull.

However, if you are looking to save for long-term goals (i.e., retirement), Webull may not be the ideal option.

Whether beginner or advanced, Webull caters primarily to active stock traders.

The lack of asset classes and account types are limiting for the long-term “buy-and-hold” type investor.

However, your long-term investment strategy does not need to interfere with your short-term and active stock trading goals.

All-in-all we highly recommend giving Webull a shot because you have NOTHING to lose!

The app will not cost you a dime, and you can gain access to great tools and resources.

So, what do you say? Is Webull the next big investment app? What is your favorite investment app?

Let us know with a comment below!

P.S. Webull is currently running a promotion where you will get 2 FREE stocks if you sign-up today! Click here to claim your free stocks.

Webull

9.4

Overall Service

10.0/10

Commissions & Fees

10.0/10

Platform & Tools

8.5/10

Investment options

8.7/10

Customer Service

10.0/10

Pros

  • Commission-free trading
  • No minimum account balances
  • Excellent trading platform
  • Leverage 4 to 1 on margin trades
  • Free trading simulator

Cons

  • Supports limited asset types