Webull stock trading platform review
Webull is a broker with zero-commission trading and a suite of tools to help you invest.
finder.com’s rating: 4.6 / 5.0
Webull is a trading platform with no initial deposit requirements or commissions, making it very beginner-friendly. Access to real-time market data and advanced tools will also appeal to more active traders and options traders. However, the platform doesn’t allow you to trade mutual funds, bonds or over-the-counter stocks.
- Consider Webull if you want low fees but don’t want to compromise on advanced trading tools.
- Look elsewhere if you want access to mutual funds, futures or OTC stocks.
|Option trade fee||$0|
|Asset types||Stocks, Options, ETFs, Cryptocurrency|
|Account types||Brokerage, Retirement|
|Signup bonus||Get 6 free stocks valued between $3-$3000 when you open an account and make a deposit of any amount|
|It charges no commission fees, and account fees are on par with competitors.|
|Access stocks, ETFs, options and crypto.|
|Contact support in several ways, but we waited 20 minutes to speak to a rep.|
|The mobile app is well-reviewed on Google Play and the Apple App Store.|
|Research and tools|
|Reporting tools and charts are standout platform features.|
|We didn’t find any reports of service outages.|
|We awarded a bonus star for access to paper trading.|
To learn how our star ratings are calculated, read the methodology at the bottom of the page.
What we think about Webull
Webull has a bit of everything for every type of trader:
- Its commission-free trading and no minimum deposit requirements give beginners a platform to trade without an aggressive fee structure eating into their balances.
- Its fractional shares open the door to thousands of companies that may have otherwise been out of reach for traders without lots of liquid cash.
- Active traders should find its feature-rich trading platform of advanced charts, indicators, screeners and customizable tools attractive.
- Its traditional, Roth and rollover IRAs will appeal to long-term investors looking for a tax-advantaged account.
That said, Webull has mixed reviews regarding its customer service, with many of Webull’s negative reviews pointing to a lack of quality customer experience. And if you’re looking to invest in assets like mutual funds, futures or OTC stocks, look elsewhere.
In sum, Webull would be suitable for many types of traders and investors. Webull has accessibility, a highly rated mobile app and comprehensive research tools. These are a few reasons Webull is our most highly-rated online broker for trading stocks, based on our internal stock trading platform rating system.
What investments does Webull offer?
Webull has a solid lineup of investment products available to US and Hong Kong residents, including:
And you can choose either an individual brokerage account for general trading or save for retirement with a traditional or Roth individual retirement account (IRA).
Webull is best for beginner-to-intermediate investors who trade frequently
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 effectively from anywhere.
- New investors. Helpful tools, $0 trades and the absence of initial deposit requirements make Webull highly accessible for new investors.
Webull’s fees are among the lowest
Webull has some of the lowest fees in the industry, including no minimum deposits, zero commissions on option, stock, crypto and ETF trades, and no annual or inactivity fees. Margin accounts pay an annual rate of 3.99% to 6.99%, depending on your balance.
WATCH: Webull review + tutorial
How do I sign up?
Sign up via desktop by downloading the desktop app, selecting the avatar on the bottom right, then choosing Sign up. From there, the process is similar to signing up via mobile app:
- Download the Webull app for Android or iPhone.
- Open the app, select the Open account tab, then Open account.
- Enter your personal information, employment details and investment specifics.
- Upload a photo of your ID to verify your identity.
- Answer questions about your affiliations, then agree to account terms and disclosures.
- Choose your account type, verify your email and submit your application.
To open an account, you need to provide personal information such as your name, address and employment information, and you must:
- Live in the US at a valid residential address
- Be 18 or older
- Have a valid state-issued ID
- Have a valid Social Security number
Webull’s research tools are comprehensive and insightful
Webull traders have access to the platform’s comprehensive suite of research and analysis tools.
Review data for any stock on the platform with watchlists and a separate list for stocks you’re actively invested in. From your watchlist, monitor key metrics for stocks you select, including price, volume, market movement and more. Add stocks to your watchlist by symbol or name, and view your picks in a list or grid format.
Selecting a stock in your watchlist opens the stock chart. Set volume or price alerts and view data as a line, area, candle, hollow candle, base line, Heikin Ashi, bar or colored bar graph. Time intervals range from one minute up to a year. And the drawing tool offers access to trendlines, polylines, rays, parallels, Fibonacci retracement, Fibonacci extension and more.
Available indicators include:
- Pivot Point
Key statistics for your stock include highs, lows, dividend yields, financial forecasts and press releases. Add multiple stocks to compare your options and use the notes tool to attach noteworthy findings to your watch list.
Monitor data in four primary market tabs: global, US, Hong Kong and cryptos. Cryptos offers a list of 15 cryptocurrencies on the Bitfinex exchange, while the Global tab offers worldwide index and forex stats. The Hong Kong and US tabs provide index data as well as net inflow, rankings, trends and up-to-date market news.
Create your own screener by entering the data you’d most like to monitor, including market caps, prices, percent changes, volume, turnover rates and listing dates.
Practice trading online for free, without investing any money. But you won’t make money — it’s a demo account where you can practice hypothetical trades based on real market data. Buy and sell stocks, monitor your buying power and track daily profits and losses.
Pros and cons
Webull makes it convenient to trade and manage portfolios from anywhere and features these benefits:
- Zero commissions. No commission stock, ETF, option or crypto trading make it easier to profit off your trades.
- Powerful mobile app. Research, analyze, make trades, manage your portfolio and more, from anywhere.
- 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.
- Six free stocks. Through June 9, get two free stocks worth up to $300 when you sign up. Get another four stocks valued up to $3,000 when you deposit any amount.
Webull’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 offer mutual fund, bond or OTC stock trading. It also limits trading stocks less than $1 or more than $10 million.
- Margin requirements. To borrow money to trade, you need to have at least $2,000 in your account.
Is Webull legit?
Yes, Webull is a legit US-based fin-tech startup founded in 2017. It’s registered with the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA).
Webull is also a member of the Securities Investor Protection Corporation (SIPC), which insures brokerage customers up to $500,000 for securities and includes a $250,000 limit for cash.
How Webull makes money
Webull is transparent about how it can make money while still offering customers no-commission trading. It states clearly at the top of its pricing page that it generates revenue from payment for order flow (PFOF), stock loans, interest on free credit balances and margin interest.
Payment for order flow
Webull monetizes its order flow to earn revenue. Market makers — who provide market liquidity by offering to buy from retail investors at their bid price and sell to them at a slightly higher offer or ask price, hoping to make a profit on the bid-ask spread — pay Webull for its clients’ order flow.
PFOF is a common practice among discount brokers that offer commission-free trading, as it allows them to subsidize the lost revenue from trades. Robinhood, Ally Invest, Charles Schwab and Interactive Brokers are some of the brokers that rely on PFOF for generating revenue, according to data from research firm Alphacution.
Webull receives an average of $0.00026 per share for its order flow, according to a 2019 filing.
Webull offers a stock lending program that lets customers share the revenue generated from lending stocks to other customers or financial institutions. Interest rates vary and depend entirely on the market demand for your securities.
Customers receive about 15% of the total interest earned from lending their shares, while Webull receives the other 85%.
Interest on free credit balances
Another revenue stream for Webull is the money it earns from traders’ leaving cash in their accounts until they make their next trade. This cash is often swept into a bank deposit account, and the broker is paid interest on the money.
Webull makes a portion of its revenue from margin loans made to customers. This rate ranges from 3.99% to 6.99% and varies depending on the size of the margin loan.
Webull’s reviews are mixed but lean positive
Overall, Webull feedback is mostly positive. It depends on the review.
For instance, as of May 2022, it lacks Better Business Bureau (BBB) accreditation and receives an F rating for failing to respond to customer complaints. On the BBB, it has an average rating of 1.08 out of 5 stars based on 50 customer reviews and has received 186 complaints in the past three years.
Its Trustpilot feedback isn’t much better. The company is rated 1.4 out of 5 stars based on over 120 customer reviews. Roughly 85% of reviewers rated Webull as “bad.” Dissatisfied customers on both sites complained about poor customer service and a slow money transfer process.
But on Google Play and the Apple App Store, customer sentiment is completely different. Between both app stores, Webull has gathered over 440,000 reviews.
Most reviews are five stars, and satisfied customers highlight Webull’s user-friendly interface and superior stock charting capabilities. Negative reviews on these platforms still stress the lack of support and poor customer service.
|BBB customer rating||1.08/5 stars based on 50 customer reviews|
|TrustScore||1.4/5 stars based on 123 customer reviews|
|Google Play app reviews||4.4/5 stars based on 170,208 customer reviews|
|Apple App Store app reviews||4.7/5 stars based on 270,736 customer reviews|
|Data last updated||May 2022|
Contact Webull support by phone, in-app messaging and email
There are three ways you can get in touch with customer service:
- Call 1-888-828-0618
- Secure message via its app
- Email firstname.lastname@example.org
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*Signup bonus information updated weekly.
How we rate trading platforms
★★★★★ 5/5 — Excellent
★★★★★ 4/5 — Good
★★★★★ 3/5 — Average
★★★★★ 2/5 — Subpar
★★★★★ 1/5 — Poor
We analyze top online trading platforms and rate them one to five stars based on factors that are most important to you. These factors include fees, securities available for trade, customer support, customer feedback, platform resources and overall reliability.
For a complete breakdown of how we score each category, read the full methodology of how we rate trading platforms.