Webull Review: Ultimate Investing Solution Commission-Free Trades

Webull may interest you if you’re seeking a mobile trading app with no required minimum investment, no trading commissions, and a wealth of technical analysis tools.

It does feature fewer trading possibilities because it is a new stock trading software. Yet, the trading interface is user-friendly and a fantastic option for seasoned investors.

Also, the business is providing a hefty advertising package, especially for more significant accounts. (Details are below.)

Webull: What about this app?

Webull is a mobile stock trading program established in New York City that was founded in 2017, released in 2018, and offers mobile, desktop, and online platforms for Google Chrome. The platform provides free trading in tens of thousands of stocks and ETFs, and it has ambitions to introduce options trading soon.

Given that it provides a multitude of technical analysis tools, Webull specifically targets more experienced traders, notably technical traders.

On Android and iOS devices, respectively, Google Play and The App Store are the places to get the mobile app. The platform is also accessible via Google Chrome on the web.

No money is needed to start an account; however, a margin account must have a minimum balance of $2,000 to access leverage and shorting and a minimum balance of $25,000 to engage in free-day trading.

The business is owned privately and is backed by venture money. Yet there are now over 10 million users.

What Webull Does?

Depending on the services and functionality you want access to, the minimum initial investment for a Margin Account ranges from $0 to $25,000 for a Cash Account.

Individual taxable accounts, regular, Roth, and rollover IRAs are the available account kinds.

Investment options include stocks and exchange-traded funds (ETFs). Webull predicts the onset of options trading. You can invest in overseas corporations through American Depositary Receipts, but you cannot trade foreign equities (ADRs).

Available geographically are all 50 US states and the US territories.

Trading hours: All timings are Eastern and include regular market trading hours, pre-market hours (4:00 am to 9:30 am), and after-hours (4:00 pm to 8:00 pm).

Accessible for both Android and iOS mobile devices is a mobile app.

Customer support is available by phone, email, and live help on the app.

Protection for up to $500,000 in securities and cash, including up to $250,000 in money, is offered by the Securities Investors Protection Corporation (SIPC). Additional insurance is provided by Apex Clearing for securities and cash up to a combined total of $150 million, subject to maximum limits of $37.5 million for securities and $900,000 for cash belonging to any one customer, respectively.

Accounts Webull

Cash Accounts and Margin Accounts are the two types of accounts that Webull offers. Although Cash Accounts are standard trading accounts, you cannot employ margins with them.

Margin Accounts let you borrow money for investment, as the name suggests. Concerning the amount of equity you have in a margin account, there are various restrictions and advantages:

For accounts with less than $2,000 in balance, you can only make three-day transactions in five business days. You cannot apply leverage or engage in short selling with this account balance.

You can also conduct up to three-day trades with a 4X leverage on day trades and a 2X overnight borrowing power for accounts with balances between $2,000 and $25,000. Short sales are also permitted for this account balance range.

Short sales and day trading are unlimited on accounts with over $25,000. Additionally, this account size offers up to 2X overnight borrowing power and 4X daytime leverage on transactions.

Webull provides both IRAs and individual taxable accounts. Unfortunately, they do not offer custodial accounts, trusts, or joint accounts.

Platform for Webull Trading

More than 5,000 US-listed stocks and ETFs are available for trading on Webull. Before the stock is launched, underwriters also give investors access to initial public offerings (IPOs).

The available investment types are severely constrained. Mutual funds, bonds, options, over-the-counter equities, foreign exchange, and futures are not provided by Webull. Yet that will be fine if you primarily trade individual stocks and ETFs.

The following minimum price restrictions apply to penny stock trading on the platform:

• $0.01 or less is not allowed.
• Price range: $0.01 to $0.099, 1,000 shares minimum.
• 100 shares minimum; $0.10 to $9.99 per share.
• More than $0.999, one share is the minimum quantity.

Market orders, limit orders, stop orders, stop limit orders, bracket orders, take profit, and one-cancels-other orders are all supported by the platform.

The trading platform offers stock screeners, watch lists, real-time stock quotes, market information, and stock quotes. They even included news and earnings reports on the stocks you were watching and an economic calendar with forthcoming IPO dates.

Bullinger Bands, MACD, RSI, money flow index, and exponential moving averages are examples of technical analysis tools. A custom watchlist, revenue statistics, insider positions and transactions, up-to-the-minute news and press releases, and historical earnings per share will all be available to you.

Before trading with real money, you may hone your investment skills on Webull’s paper trading platform. However, even though the platform is mostly intended for seasoned investors, they have training programs, including one for day traders.

Price & Costs for Webull

Regarding fees, the news is all positive. All trading commissions on Webull are $0. No costs are associated with deposits or withdrawals if your account is linked to a US bank account.

A fee of between $0.01 and $0.03 per share will be charged if you trade ADRs.

These are the current market interest rates:

• $0 to $25,000 – 6.99%
• $25,000.01 to $100,000 – 6.49%
• $100,000.01 to $250,000 – 5.99%
• $250,000.01 to $500,000 – 5.49%
• 500,001 to 1,000,000 – 4.99%
• $1,000,001 to $3,000,000 – 4.49 percent
• Over $3,000,000 – 3.99%

Upcoming Promotions

You can currently open a Webull account and deposit money to receive free stock as part of a campaign from Webull.

Promotion of Free Stock

To obtain your free stock, follow these steps.

Within 30 days of starting your account, fund it with $100 or more, and you’ll get a free stock worth up to $1,600.

For an initial account transfer of $2,000 or more, Webull will also cover transfer fees up to $100.

Opening A Webull Account: Steps

You need to fulfill the requirements listed below in order to open a Webull account:

• Be at least 18 years old.
• Get a Social Security number that is active.
• Possess a registered residence in the United States or one of its outlying regions.
• Possess a valid US visa, be an American citizen, or be a permanent resident.
• Signing up takes only a few minutes, and it can be authorized in less than an hour. You must connect a US-based bank account to make transfers into and out of your account.

Benefits and Disadvantages of Webull

Pros:

• Charge-free trading.
• Day trade leverage of up to 4X and overnight borrowing capacity of up to 2X.
• A sizeable welcome incentive that includes up to $1,600 in free stock.
• Specifically for seasoned traders who prefer technical analysis.
• Offers day trading, short sales, and margin trading.
• To assist you in mastering the Webull technique and honing your trading abilities, Webull offers a paper trading platform.

Cons:

• A relatively new trading app (approximately 1.5 years old) is constantly being improved and fresh investments are being made.
• Limited trading platform that excludes international equities, OTC stocks, mutual funds, bonds, options, futures, and forex. Moreover, Webull does not accept fractional shares.
• Individual taxable accounts and IRAs are the only acceptable account types. Custodial accounts, joint accounts, and trusts are not currently available.
• Non-US citizens cannot open Webull accounts.

Should You Create a Webull Account?

A self-directed, seasoned investor who particularly appreciates technical analysis should choose Webull. Also, it makes sense for anyone who partakes in day trading, short sales, or margin trading.

Currently, the site is primarily intended for trading equities and ETFs (though options are reportedly in the pipeline soon). It might be required to keep another trading or investing account besides Webull because it doesn’t provide other investments, including mutual funds, options, bonds, real estate investment trusts, and different popular investment kinds.

Webull is less suited to novice investors or those who want to consolidate their interests in one location.

Webull was introduced as a trading platform in the spring of 2018. Since its debut, the platform has advanced significantly, and it is expected to experience further improvements soon. Also read very helpful and informative stuff Top 15 Free Stock Companies: Get Free Shares in 2023