- Commissions and Fees
- Research Tools
- Mobile Trading Platform
- Customer Service
- Tools and Features
Webull is a relatively new stock broker offering zero commission trading. Webull is positioned as a viable alternative to Robinhood. The question is – how do they stack up? Read this in-depth review to see if Webull is a good fit for you.
- About Webull
- Webull Commissions and Fees
- Webull Platforms
- Webull Desktop App
- What Type of Trader is Webull Best For?
- Webull vs. Robinhood
- Common Questions About Webull
Webull.com is a mobile app-based brokerage offering an enhanced trading platform with commission-free trading. As part of the mobile fintech wave of zero-commission brokerage competitors to Robinhood, Webull stands out with its suite of innovative platform improvements which appeal to a broader spectrum of experienced traders and self-directed investors. The design of additional features certainly accommodates users looking for more depth in terms of tools and data.
Webull Financial LLC is a Finra registered broker-dealer located in New York and licensed to operate in 53 states. The entity was established in May 2017 and received SEC registration status approval in January 2018. CEO Anthony M. Denier brings his 15-years of professional global brokerage service experience derived from eight firms ranging from ING Financial to Credit Suisse.
There is no minimum deposit to open an account for regular trading. Margin trading requires a minimum account balance of $2,000. If balance/value falls under net value of $2,000, then forced liquidation will be implemented.
Webull Commissions and Fees
Webull offers commission-free trading for over 5,000 U.S. stocks and ETFs with no charges to open or maintain and account. Webull does not currently offer options trading. There are no account maintenance fees or software platform fees. However, SEC and FINRA fees along with margin rate fees will apply to trades.
U.S. market data is free and real-time. International markets data require fee-based data subscriptions accessible through the app.
Outgoing domestic wire transfers are $25-per transaction. Incoming domestic wire transfers cost $8-per transaction after the free initial transfer. Incoming wires over $25,000 are free of charge.
Outgoing international wire transfers are $45-per transaction. Incoming international wire transfers cost $14-per transaction after the free initial transfer. Incoming wires over $25,000 are free of charge.
The Webull trading platform is packed with tools designed to improve insights and decision-making for traders and investors. Both fundamental and technical analysis is supported through innovative features and intuitive design. The added convenience from the intuitive placement and consistent performance of the tools can’t be understated.
Webull is a purely mobile app-based platform for now. There is no web/online access to the platform. The platform won’t be as advanced as a desktop platform like DAS Trader, however the depth of features makes it a competition-killer compared to most of the simpler trading apps.
Charts and Indicators
The real-time candlestick, bar and line charts can be set from 1-minute up to 60-minue time frames going back over five-years. Price and momentum indicators ranging from exponential moving averages, Bollinger Bands to money flow index, MACD and RSI oscillators (through Advanced Charting mode) help improve price action interpretation. Level 2 Data is available for a data fee.
Webull is a fundamental analyst’s dream providing news streams with access to press releases, analyst recommendations, historical EPS and revenue data along with key statistics, insider holdings and transactions. This enables users to better understand the underlying company operations, catalysts, performance as well as what is moving the stock price. Users can also save articles and post comments on specific stocks.
These are very useful tools showing upcoming earnings reports, IPOs and financial events. While this information can be found through various sits online, it’s the convenience factor of having this information on a single mobile app.
For users searching for fresh trade ideas, the screener/scanner tools are surprisingly intuitive and in-depth. Webull has pre-built scans like “Biggest Movers in Past 5-minutes” or “MA 5 Cross Over 10” available in addition to the ability to configure your own scans quickly and easily. Again, the scanner options are intuitively designed and self-explanatory enabling both fundamental and/or technical analysis based filtering criteria.
Watch Lists and Alerts
Users can put together multiple watch lists (compared to just a single watch list). Additionally, Webull enables Smart Alerts to notify via SMS or e-mail when stocks trigger on any of the stocks on your watch lists. Users can configure trigger conditions based on price and/or indicators.
Free Demo Trading and Stock Promotion
Webull allows users to select demo/simulation trading to kick the tires and get acclimated to the tools with real-time quotes and charts for U.S. markets. Stop-limit orders are also accepted. All limit orders are Good-for-Today type, no GTC orders available.
Like Robinhood, Webull also has a free stock referral promotion where both the user and new referred customers receive a free single share of stock valued up to $100 upon successful registration.
Webull Desktop App
In 2019, Webull launched a desktop trading app for Windows, Mac, and ChromeOS. I’ll admit that I initially expected this software to be treated as an afterthought, however I was thoroughly impressed by the quality of the desktop platform. While the desktop platform is still in its beta phase, it’s clear that Webull is taking this project seriously.
The desktop platform tastefully integrates advanced features into a user-friendly interface.
The platform features advanced charting, screeners, and integrated trading. Traders can find, analyze, and trade stocks all in one easy-to-use platform.
The platform runs smoothly and most of the features are pretty intuitive. Traders can also use the platform for paper trading, meaning Webull may be giving ThinkorSwim a run for its money.
Webull Margin Accounts and Leverage
Unlike other platforms, Webull allows short-selling with up to four-times intra-day margin and two-times on overnights. This is a double-edged sword and caution must be taken with any short positions. Net account balances must remain above $2,000 to avoid automatic forced liquidation margin calls. This means they will sell your shares immediately intra-day to maintain the $2,000 minimum net account value. It’s imperative to check the maintenance margin requirements on stocks you consider shorting. Forced liquidations fuel the flames during short squeezes with market order buy covers accelerating and perpetuating extended price spikes.
Webull Trading Hours
Webull allows extended-hours trading pre-market from 4:00 am to 9:29 am EST and 4:01 pm to 8:00 pm EST. However, they don’t allow good-to-cancel (GTC) orders. All orders are closed out by the end of the trading session.
Access to customer service is available via e-mail, chat and phone. There is little wait time due to the relatively smaller but growing community of users. This is refreshing compared to the more established platforms that take days to get an e-mail response. Hopefully, Webull maintains the same consistency for prompt response times through its hypergrowth period.
Webull has the depth of tools and indicators conveniently integrated in a single mobile app platform. The ability to short-sell (4X margin) and true extended hours trading alone sets it apart from competitors. The scanner/screener is one of, if not, the best ones on an integrated mobile app trading platform. It’s amazing how much has been packed into this app.
What Type of Trader is Webull Best For?
Webull appears more complex than most of the simpler mobile app trading platforms on the market. The broker is often compared to Robinhood and Firstrade due to the free trade offerings. While more complex than other apps like Robinhood, Webull is still best for beginner traders who don’t require advanced platforms, desktop access and other features.
Webull vs. Robinhood
Webull is most often compared to Robinhood because they share a few main similarities:
- They were both built as mobile apps (initially, neither had a desktop platform)
- They both offer free trades
- They are both built with simplicity in mind
The question is, which mobile broker is better?
In my opinion, Webull takes the cake in almost every category. Both apps offer free trades, so there’s not much of a comparison to be made there.
Robinhood is slightly easier to use, but this simplicity comes at a cost.
Webull offers way better trading tools and a broader range of investing resources. Webull offers an easy-to-use app without sacrificing important features. Whereas Robinhood users are limited in the resources they have access to, Webull clients have access to a handful of powerful tools.
Webull definitely has the better mobile platform. The charts offer more customization, the research tools are far more comprehensive, and the built-in features are much more powerful. Webull also offers some advanced order types that can be helpful for traders who know how to use them.
Whereas Robinhood is ideal for casual investors, Webull provides an effective solution for both investors and beginner traders. Most active traders will quickly outgrow the Robinhood platform and seek out alternatives. Webull offers a range of beginner/intermediate features that will satiate the needs of beginner traders for a longer time.
Common Questions About Webull
Many investors are curious about what Webull has to offer. Here are a few of the most common questions we’ve seen. If you still have more questions, just leave a comment on the post.
Can you trade options at Webull?
Webull does not currently offer options trading. While we cannot definitively say that the company will add options trading, it does seem like the logical next step.
Is Webull really free?
Yes, Webull is really free. There are some limitations to the types of securities you can trade, but Webull does not charge commissions.
How is Webull free?
Most paid brokers don’t make the bulk of their revenue from commissions. Brokers can make money from interest on accounts, payment for order flow, and other sources. While we cannot say exactly how Webull generates revenues, those are the most common sources.
How does Webull compare to discount brokers like Etrade and TD Ameritrade?
Webull is a simplified version of brokers like Etrade and TD Ameritrade. You won’t get access to all of the same resources and tools, but you will also avoid paying commissions. That said, we have been impressed with Webull’s focus on trading technology, so they may soon bridge that gap.
- Free demo account trading and real-time U.S. stock and ETF quotes
- Powerful research tools including news streams, analyst guides, built-in and configurable stock screeners with Smart Alerts
- In-depth advanced charting with price and momentum indicators
- Short-selling available for margin accounts
- Zero-commission trades
- Multiple watch lists and article storage
- No options trading
- No Good-to-Cancel (GTC) limit orders