Webull custodial account opening cost and fees (maintenance, inactivity, management), investments assets options for minors (children).

Custodial Accounts with Webull

Webull does not offer custodial accounts (UTMA/UGMA). As an alternative, we suggest a brokerage firm called Ally Invest that offers UTMA/UGMA custodial accounts as well as $0 commission on stocks, ETF's and other investment classes. There are no account fees whatsoever. Learn more...

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Open Ally Invest Account

Webull: The Pros

A big positive that sets Webull apart from the others is its virtual trading tool, which would be especially attractive to new investors. This feature allows you to place practice trades in a virtual section of your account without involving actual money. This is helpful for newbies who want to get a feel for what the “market experience” is like without actually risking their money until they feel they are ready.

Other Webull pros include a sharp-looking app with a surprising level of chart functionality for a mobile trading app and a solid amount of stock-specific information to help with your research. Each stock’s profile page shows a company overview, relevant news headlines, press releases, financials, and analyst ratings.

Webull: The Cons

Where to begin… Webull’s investment offerings are extremely limited, even for a free brokerage. Currently you can only trade U.S.-listed stocks, options, and ETFs on the Webull platform. Foreign stocks, penny stocks, futures, bonds, and mutual funds are all off limits.

Other cons include Webull’s bare bones customer service and the lack of automated investing options. Their website has a helpful Q&A section and you can send messages via the mobile app.


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