Webull Rating:  

Review of Webull investing app: brokerage fees and commissions, pros and cons, minimum requirements and promotion offer for opening a new online account or IRA with the discount stock broker.

Overview of Webull

Webull started as a simple mobile trading app. In a short period, it has grown into a major brokerage firm offering multiple trading platforms and many services. It’s definitely worth exploring.

Bulls Focus On...

Best pricing: No commissions or fees to worry about.

Lots of ongoing promotions: Easy to earn free stocks.

Multiple order tickets: Offers several order types.

Bears Focus On...

Limited product lineup: Some investments aren't available.

Limited retirement options: Few resources for retirement.

Investing and Trading

Webull offers investment services in many countries worldwide. It has separate websites for users in the United States, Indonesia, South Africa, Canada, Thailand, and other regions. Services available vary by country. This review focuses on Webull's U.S. services.

Webull USA has steadily expanded its range of tradable assets. Currently, the choices include:

• Index and stock options
• Money market funds
• Event contracts
• ETFs
• Stocks (including OTC stocks, ADRs, and REITs)
• Treasury securities
• Closed-end funds
• Futures

Webull U.S. supports trading only in stocks listed on U.S. exchanges and OTC markets. It does not offer trading on foreign exchanges.

Besides self-managed trading, Webull provides automated investment accounts using ETFs. Webull Advisors partners with BlackRock to offer portfolios of iShares ETFs. Financial planning is not included with this service.

Webull America supports several account types for brokerage and managed investing, including IRA, joint, business, and individual accounts. Opening an account at Webull USA requires a U.S. residential address, but U.S. citizenship isn't needed. Other branches have their own requirements.

To fully use Webull's features, a Premium subscription is required, costing $3.99 monthly or $40 per year.

Customer Service

Webull users can reach customer support by phone (888-828-0618) or email (support@webull.com). The mobile app includes a virtual chatbot for basic questions, but it’s unavailable elsewhere. The chat icon appears at the bottom across all tabs in the app (look for the floating Webull logo). Users can also speak with a live representative, but like phone support, this service is offered only during regular business hours (8:30 am to 4:30 pm, EST, Monday through Friday).

The mobile app offers a document-upload tool, useful for specific issues. To access this tool, go to the Help Center (the chatbot can guide you there if you type or say "Help Center").

Webull’s website also has its own Help Center, accessible through the Help link in the main menu. It provides answers to many Frequently Asked Questions, helping both new and experienced users.

Banking

Webull addresses its users' cash needs with an FDIC-insured sweep program for uninvested brokerage cash. Premium subscribers earn 4.1% APY, while regular customers get either 3.75% or 0.5%, based on their account balance.

However, Webull's cash-management services are limited because it lacks typical banking features. It does not offer debit cards or checkwriting. Webull does provide three money market mutual funds, suitable alternatives for standard users who cannot access the higher 4.1% rate.

Margin

Webull brokerage accounts can be opened as either margin or cash accounts. Margin accounts allow traders to trade options spreads, buy stocks with borrowed funds, and short stocks. The cost of margin borrowing is:


Webull's software clearly shows margin information for both long and short trades. This information appears on the stock’s profile page. For example, margin details for McDonald's stock include:

Fees and Minimums

Webull U.S. brokerage accounts have no minimum balance requirement or annual fees. Automated accounts have a $100 minimum and charge 0.20% annually.

Webull provides commission-free trading for stocks, ETFs, closed-end funds, and options. Trades of low-priced stocks (below $1) made at high volumes can incur a fee of 0.02¢ per share. Treasury trades cost 0.1% of trade value. Futures trades range from $0.05 to $1.00 per contract.

Premium customers enjoy discounts on futures commissions and other special benefits. Premium membership costs $3.99 monthly or $40 per year. Premium customers also receive a 3% bonus on IRA transfers; this offer isn't available to regular users.

Free Webull Account

Webull offers 2% deposit match for any amount!

Open Webull Account

Website

Webull's website is primarily designed to showcase its trading services and provides a login area. Once logged in, users can access account management tools and a useful web-based trading platform. During testing, we found several standout features:

• Multiple order tickets
• Custom watchlists
• Detailed charts with many tools
• Paper trading for practice
• Daily market morning briefing
• Audio price quotes widget
• Price ladder tool
• Time & sales data
• Search tools for stocks, options, and Treasury securities

Each stock profile has tabs containing detailed information. However, some Chinese-listed stocks have limited data. U.S.-listed stocks usually have news, financial data, analyst ratings, corporate actions, press releases, and more.

Mobile App

Looking at Webull’s mobile app, you’ll find that it offers most of the same features as the desktop and web versions, but not everything is the same. The app includes many useful tools, but some features are missing. For example, the advanced order ticket with OCO (One Cancels the Other) is no longer included.

The mobile app does have a Feeds section that the web version doesn’t. Feeds act as a digital community space where Webull users can discuss different investments and share news about the markets.





The main menu is at the bottom of the app. The Watchlists icon brings up the same lists you have on the website.

By tapping the Menu icon in the bottom-right corner, you’ll see a page with extra widgets. These include OTC stocks, forex, voice quotes, screeners, alerts, Treasury securities, event contracts, and more. Simulated trading is available here as well.

Desktop Platform

Webull’s desktop software is the third platform you can use for trading. It works with Mac, Windows, and Linux computers, and it includes a learning center with helpful articles and videos. You can practice with demo trading and set up custom layouts and hot keys.





Charts on the desktop platform can be detached and expanded to cover the whole screen. The right-click menu gives you quick access to trading links, alerts, and charting tools.

Promotion

Extra Features

Initial Public Offerings: Webull users can buy IPO shares before they’re available on the market. On the desktop platform, go to the Markets tab on the left to find upcoming IPOs.

Dividend Reinvestment Plan: Webull offers a free DRIP for brokerage accounts.

Fractional Shares: You can buy stocks and ETFs in whole-dollar amounts.

Individual Retirement Accounts: Webull has Roth, Traditional, and Rollover IRAs with no annual or termination fees. IRA contributions are matched by 1%, or 3.5% for Premium users.

Fully-paid Securities Lending Program: Webull lets you earn extra income by lending your fully-paid stock shares.

Our Recommendations

Beginning Investors: Using a Webull Advisors account is a good start. Practicing with simulated trading in a self-directed account is also a smart move.

Small Accounts: Fractional-share trading and no account fees make Webull a solid choice for investors with small accounts. Robo-advisor accounts are accessible, with just a $100 minimum.

Active Stock Trading: Webull is an excellent platform for frequent stock traders.

Long-Term Investing & Retirement Planning: Webull gives IRA matching and transfer bonuses, but lacks in-depth planning tools. For long-term planning, we suggest Charles Schwab.

Mutual Funds: For mutual funds, Firstrade is a strong pick.

Webull Review Recap

Webull has grown from a basic mobile app into a full-featured investment platform. Both advanced traders and beginners can find a lot of value using its services.

Free Webull Account

Webull offers 2% deposit match for any amount!

Open Webull Account