Zero-commission trading with a suite of tools to help you invest.Webull is a trading platform that offers real-time market data. There are no initial deposit requirements or commissions, so you can trade at your own pace. But the platform doesn’t allow you to trade options, mutual funds, bonds or OTC stocks.
|Intro or bonus offer||For a limited time, get one free stock worth up to $250 when you sign up. Get another valued up to $1,000 with an initial deposit of $100 or more within 30 days of opening your account.|
|Minimum deposit to open||$0|
|Available asset types||Stocks|
|Stock trade fee||$0|
Who is Webull best for?Webull‘s platform and trading tools empower all types of investors to get the most out of their money, but it’s especially convenient for:
- Short-term investors. Zero-commission trades and advanced tools make Webull a strong choice for short-term investors and day traders.
- Mobile users. Webull‘s powerful mobile platform allows you to trade from anywhere.
- New investors. Helpful tools, $0 trades and the absence of initial deposit requirements make Webull useful for new investors.
What are the benefits of Webull?Webull makes it convenient to trade and manage portfolios from anywhere and features these benefits:
- Zero commissions. Webull won’t charge you anything to make trades.
- Powerful mobile app. Webull‘s mobile platform allows you to research, analyze, make trades, manage your portfolio and more.
- Tools. Get support for your trades with the help of a trading simulator, market data insights, stock screeners, charts and indicators and trading instruments.
- No minimum deposit. It’s free to open an account and there are no deposit requirements to trade stocks or ETFs.
- Two free stocks. For a limited time, get one free stock worth up to $250 when you sign up. Get another valued up to $1,000 with an initial deposit of $100 or more within 30 days of opening your account.
What to watch out forWebull‘s commission-free trades and powerful mobile platform give it an edge over some of its competitors, but it has a few potential pitfalls:
- Limited securities. Webull doesn’t allow you to trade options, mutual funds, bonds or OTC stocks. It also limits trading stocks less than $1 or more than $10 million.
- Few account options. Webull doesn’t offer retirement accounts and there’s no option to open a joint account.
- Margin requirements. To borrow money to trade, you’ll need to have at least $2,000 in your account and rates are as high as 6.99%.
- Third party fees. While Webull doesn’t charge fees to make trades, you’ll be responsible for mandatory SEC and FINRA fees.
Compare with other stock trading platforms
Webull customer reviews and complaintsWebull was launched in 2018, is registered with the SEC and is a member of both FINRA and SIPC. It offers investors zero-commission trades and free trading resources to help people control their financial future. Webull doesn’t have pages on the Better Business Bureau (BBB) or Trustpilot websites, but many review sites give it solid ratings for its low fees and useful tools. However, some customers have mentioned issues with app functionality, account verification, customer service and other technical issues.
How do FINRA and the SIPC protect your account?
FINRA is a regulatory organization that monitors the broker-dealer industry to protect investors.
The SIPC is a federally-mandated consumer protection nonprofit that insures up to $500,000 of your money in the event that the firm fails, which includes a $250,000 limit for cash.
How do I sign up?
You can sign up via desktop by downloading the desktop app, tapping the avatar on the bottom right, then clicking Sign Up. From there, the process is similar to signing up via mobile app:
- Visit your phone’s app store to download the Webull app.
- Open the app, click the Open Account tab, then click Open Account.
- Enter your personal information, employment information and investment information.
- Upload a photo of your ID to verify your identity.
- Answer questions about your affiliations.
- Agree to account terms and disclosures.
- Choose your account type.
- Verify your email and submit your application.
To open an account, you’ll need to meet a few eligibility requirements:
- Live in the US at a valid residential address
- 18 or older
- Valid state-issued ID
- Valid Social Security number
During your application, you’ll be asked to provide the following information:
- First and last name
- Address, phone number and email
- Social Security number
- Valid government photo ID
- Employment information
- Investment and financial information
How do I contact Webull customer service?
There are two ways you can get in touch with customer service:
- Secure message via its app
- Email: firstname.lastname@example.org
I’m ready to make my first trade with Webull. Now what?
Once your account is open and you’re ready to start trading, here’s how you can get the most out of this platform:
- Fund your account. Link your bank account and fund your brokerage account to start trading.
- Research. Access Webull‘s research and analysis resources to get more info on stocks before you trade them.
- Tools Take advantage of watch lists, stock screeners, indicators and other tools to get a better look at trends and other market data.
- Manage your portfolio. Use the mobile app to manage your portfolio while you buy, sell or hold stocks and ETFs.
- Understand tax implications. Look into your state’s tax laws and speak with a professional before tax season arrives.
- Try the desktop app. Download the desktop app to make trades and view watchlists.
Bottom lineWebull is a mobile-focused trading platform that caters to the needs of many types of investors. Its zero-commission trades and lack of deposit requirements make it useful for beginners, while its research and trading tools help investors trade smarter.
If you’re not sure if this is the platform for you, compare your trading options to see what else is out there.