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Trading Critique conducted a rigorous evaluation process to assess Webull and offers an in-depth analysis about it. We hope our extensive review aid you in making an informed decision about whether Webull is right for you.
Webull is one of the newest online brokers, having been founded in 2017 and debuted in May 2018 with only a mobile app. Webull’s most significant target demographic, millennials, were reflected in this mobile-first launch. Webull has positioned itself to cater to novice and more active traders, as well as those who are drawn to a platform that offers a wide range of free services, such as no-account minimums, commission-free stock/ETF, options trading, and numerous cryptocurrencies.
Image 1: Home page in Webull website
Image Copyrights reserved to Webull
Webull Financial LLC is a New York City-based company that was created in 2017. Anthony Denier is the Company’s CEO, and its parent company is Fumi Technology of China. Fumi Technology, a Chinese holding company backed by smartphone maker Xiaomi, owns Webull. Wang Anquan, a Chinese executive with previous positions at Alibaba and Xiaomi, launched the firm. According to Bloomberg, Anquan holds a 35 percent stake in Fumi Technology.
Webull Financial LLC, a broker-dealer licensed by the Securities and Exchange Commission (SEC), provides securities trading to self-directed consumers. New York City is where the company’s headquarters are located. Webull Financial LLC is a member of the Financial Industry Regulatory Authority (FINRA), Securities Investor Protection Corporation (SIPC), The New York Stock Exchange (NYSE), NASDAQ, and Choe EDGX Exchange, Inc. (CBOE EDGX).
Webull Financial LLC is a SIPC member, which protects its members’ securities customers for up to $500,000 (including $250,000 for cash claims). Apex Clearing Corp, its clearinghouse, has obtained new insurance coverage. The coverage limits give protection for assets and cash up to a total of $150 million, with maximum limits of $37.5 million for securities and $900,000 for cash for each client. This extra insurance, like SIPC protection, doesn’t cover such a loss in the market value of assets.
Image 2: Regulation of Webull by SEC & FINRA
Image Copyrights reserved to Webull
The only base currency available on Webull is the US dollar.
You can trade the market when everyone else is sleeping with Webull‘s premarket and after-hours trading options. Webull offers complete pre-market (4:00 AM Until 9:30 AM ET) and after-hours (4:00 PM Until 8:00 PM ET) trading hours.
Image 3: Trading hours of Webull website
Image Copyrights reserved to Webull
Webull‘s trading platform enables a mobile, web-based, and desktop app, and it includes features that are beneficial to both professional and intermediate traders. The platform’s features offer you knowledge and insight to assist you in making more lucrative transactions. You may use the platform’s capabilities to undertake either technical or fundamental analysis. The platforms are available in English and Chinese languages.
Webull is one of the most advanced web trading systems available. With numerous complex features, it’s simple to use and suited both for beginners and experts. Webull trading does not require any downloads. On the Web platform, you may get free real-time stock quotations, research and analysis tools, and trade functionalities. Chrome, Safari, Firefox, as well as other major browsers, are all supported.
Image 4: Web Trading Platform of Webull
Image Copyrights reserved to Webull
Webull’s Desktop Trading interface is similar to the online trading platform in terms of functionality and design. Traders may create custom buttons and hotkeys for their order preferences, allowing them to place orders with a single click. They may readily adjust or cancel orders on charts to react quickly to market changes. The Price Ladder widget is a powerful tool that allows you to actively trade on the price ladder. Equity orders, single & group orders, options orders, and single or multi strategies can all be placed using the Order Entry widget. Create your trading terminal by modifying widgets and layouts. With multi-screen capability and outstanding performance, it supports cross-platform for Windows, Mac, & Linux.
Image 5: Desktop Trading Platform of Webull
Image Copyrights reserved to Webull
Webull’s mobile app is well-designed and user-friendly. This platform has an advanced order panel, price notifications, and a two-step login process, among other features. You may manage trades & risks based on price movement using a variety of advanced orders. Webull investors can get real-time market information from Nasdaq Levels 1 and 2 quotations. Place orders and checkup tickers on Webull just using your voice and simple speech phrases like “buy,” “sell,” or “search.”
Image 6: Mobile trading platform of Zerodha website
Image Copyrights reserved to Webull
Webull, like some other smaller investment brokerage apps, offers a limited selection of assets, but most basic or intermediate investors would be able to find what they’re looking for.
Image 7: Assets of Webull
Image Copyrights reserved to Webull
Webull allows you to pick from thousands of companies if you’re interested in stocks. One thing to keep in mind is that they’re all based in the United States. The platform does not allow you to trade international stocks. There are no penny stocks here, either.
Webull gain exposure to market sectors via ETF trading. You may also invest in ETFs with Webull. Because they’re all listed on the NYSE or NASDAQ, there’s no way to diversify internationally. ETFs can be purchased for as little as $1 per trade. By investing in a collection of equities rather than a single firm, ETFs give rapid diversity to your portfolio. They’re especially good for long-term investments in your portfolio or IRA.
If you’re looking to trade options, Webull is one of the best options brokers in terms of expenses. Webull provides the most affordable option for trading fees. Webull offers no commissions, contract fees, or assignment or exercise costs while trading options. Options are a strong investing instrument that allows you to leverage the high risks associated with trading the markets.
Webull claims to provide access to foreign-listed corporations in the form of an American Depositary Receipt (ADR).
In this Platform, clients may now apply to trade crypto assets. Bitcoin, Bitcoin Cash, Ethereum, Dogecoin, and lite coin may all be purchased by traders.
Various kinds of brokerage accounts are available on the Webull to meet various investing objectives.
An individual brokerage account is a general account that allows you to buy and sell securities and assets. Individual accounts are provided by Webull in 2 types: cash and margin.
Image 8: Account types of Webull
Image Copyrights reserved to Webull
A cash account is a form of brokerage account wherein the investor should pay the entire purchase price for the shares.
A brokerage account called a “margin account” enables users to use their existing funds and assets to buy more securities. It’s a great method to leverage your investment and increase your return. At the very same time, it raises the possibility of worsening your losses. Only leveraged trades maintained overnight are subject to margin interest.
With a Webull Traditional, Roth, or Rollover IRA, you may save for retirement. It has no opening, closing, or yearly fees. In IRA accounts, Webull allows you to trade U.S. market equities, exchange-traded funds (ETFs), and options. Leverage trading, shorting securities, or spread option methods are not permitted in the Webull IRA. In your IRA, you may trade stocks, ETFs, and options without paying commissions. Take advantage of any possible tax advantages.
A Traditional IRA allows you to contribute money that you may be eligible to deduct against your taxes. All earnings will grow tax-free until you take them out in retirement.
Contributions to a Roth IRA, unlike Traditional IRA contributions, are not tax-deductible. The main advantage of Roth IRAs seems to be that investment gains are tax-free.
Individuals who have changed jobs or retired and have money in a previous employer’s workplace savings plan may be eligible. Traditional IRA restrictions apply to rollover IRAs.
The free demo platform allows you to practice real-time trading with a brokerage firm.
Webull doesn’t charge commissions on stocks, ETFs, or options trading on US exchanges. Regulatory organizations such as the SEC, FINRA, and the OCC, however, continue to charge fees. These fees do not benefit Webull in any way.
Table 1: Trading fees of Stock, ETFs, and Options in Webull
 Trading Fees |
||
|---|---|---|
|
Fees Type |
Stocks & ETF |
Options |
|
Commission |
0% |
0% |
|
Regulatory Transaction Fee |
$0.0000051 * Total $ Trade Amount (Min $0.01) Sells only |
$0.0000051* Total $ Trade Amount (Min $0.01) - (Sells Only) |
|
FINRA Trading Fee |
$0.000130 * Total Trade Volume (Min $0.01 per trade - Max $6.49 per trade) - Sells only |
$0.00218 * No. of Contracts (Min $0.01)- (Sells Only) $0.02135* No. of Contracts - (Buys & sells) |
|
Clearing Fee |
NA |
$0.02 * No. of Contracts (Max $55 per trade) (Buys & sells) |
You can use an ACH or US domestic wire transfer if you have a US bank account. The non-US bank account users can use an international wire transfer only. There are no fee-free or ACH options available. You can only deposit $50,000 per day from your bank account to your Webull account.
Table 2: Deposit & Withdrawal methods fees and processing time in Webull
 Deposit Method |
Depositing Fees |
Withdrawal Fees |
 Processing Time |
|---|---|---|---|
|
Wire transfer (U.S. Domestic) Wire transfer (International) |
$8/per $12.5/per |
$25/per $45/per |
2 Business days 5 Business days |
|
ACH |
Free |
Free |
5 Business days |
You can get up to 4x day-trade & 2x overnight purchasing power with a Webull margin account. To be eligible, you should have at least $2,000 in your bank account. The interest earned from margin trading is computed daily and paid monthly. This margin rate is influenced by the size of a margin loan and is changeable.
Table 3: Margin loan and its annual margin rate of Webull
|
Margin Loan [USD] |
 Annual Margin Rate |
|---|---|
|
0 - 25,000.00 |
6.99% |
|
25,000.01 - 100,000.00 |
6.49% |
|
100,000.01 - 250,000.00 |
5.99% |
|
250,000.01 - 500,000.00 |
5.49% |
|
500,000.01 - 1,000,000.00 |
4.99% |
|
1,000,000.01 - 3,000,000.00 |
4.49% |
|
>3,000,000.00 |
3.99% |
Webull allows you to borrow certain stocks from your account, allowing you to earn additional income on fully-paid shares in your account during this Stock Lending Income Program. You would be paid an income that is collected daily and deposited to the account every month when the shares are on loan.
In July 2021, Webull joined the list of brokers who provide fractional shares. Investors may buy fractional shares in stocks and ETFs for as little as $5. But, according to Webull, be sure the companies you’re fascinated with are still available so because the list of possible assets is prone to change. Fractional shares are only accessible for new purchases and not on dividends reinvested, which is a flaw in the offering.
Image 9: Fractional shares of Webull
Image Copyrights reserved to Webull
Using a sophisticated paper trading platform, Webull hosts daily and monthly competitions with cash rewards. It demonstrates their commitment to the aspiring trader even more.
The most beneficial tool is Webull’s stock screener. You may use the filters to find the best stock trends by using financial measures like PE ratios or EPS. You may quickly and simply filter through the market with Webull’s stock screener and build a varied investment portfolio that suits your investing objectives.
Customers that invest a little amount receive free stocks from Webull. If you establish a Webull brokerage account, you will receive one free stock worth between $3 and $300. Second, if you direct deposit at least $5, you can obtain another free stock worth $8 to $2,000. The value of these equities ranges from around $2.50 to $1,600 a share. For the greatest bonus, only $100 is necessary right now.
Webull’s trading platform includes several research as well as investing tools, as well as basic analysis tools that can assist you in better understanding the financial performance of the company. Stock screeners are useful for examining individual stocks in greater depth. A constantly updated news feed that keeps you informed about what’s going on in the markets. There are no educational articles, instructional videos, interactive online courses, or webinars available on the site, even though it has a news blog with many sources.
Image 10: Blog of Webull
Image Copyrights reserved to Webull
Webull’s FAQ page has detailed information on how to establish an account, as well as how to fund and transfer cash or stocks. Your fundamental queries can be answered in the FAQ sections on the assistance website. For further information or to speak with a Webull representative, kindly get in touch with Webull by phone or email.
Table 4 : Customer support of Webull
 Customer support of Webull |
|
|---|---|
|
|
|
|
|
|
 Instagram |
|
 Email |
|
|
|
|
 Phone |
+1 (888) 828-0618 |
|
|
44 Wall Street, 2nd Floor, New York, 10005 United States. |
Image 11: FAQ Section of Webull
Image Copyrights reserved to Webull
Webull has both advantages and disadvantages which are listed in table 5.
Table 5 : Rewards and Risk of the Webull
 Pros |
 Cons |
|---|---|
|
There are no costs for account maintenance or software platform usage.
There are no fees to establish or maintain an account.
A trading platform featuring technical & fundamental analysis tools that are easy to use. |
Doesn't allow you to trade mutual funds, bonds, or over-the-counter stocks. Live chat is not available, and phone support is poor. There aren't many educational resources accessible. There are limited research tools than at other top brokerages. |
At tradingcritique.com, we’ve broken down the different account options, platforms, and research tools offered by Webull. If you’re looking for other broker reviews, we’ve got you covered. Trading critique’s goal is to empower investors to make informed choices about their investment tools.
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