Rating:   Webull Rating

2019 review of WeBull investing: brokerage fees and commissions, advantages and disadvantages, minimum requirements and promotion offer for opening a new online account with the discount stock broker.

WeBull Overview

The latest brokerage platform to feature free trading, WeBull has an app for both Android and iOS. Along with free trades, WeBull has no transaction fees and offers users easy access to 4x margin trading. It also has tons of built-in analysis and research so users can research and trade all in one place. WeBull’s primary competition in this market are Firstrade and Robinhood and, while these two enjoy a significant majority of the market share, WeBull bests its rivals in certain Categories.


Is WeBull Insured?

WeBull is an SIPC insured broker and offers coverage up to $500,000. Additionally, WeBull has insurance through their clearinghouse, Apex, that provides even more coverage, so users can rest easy knowing their money is insured and safe.


WeBull Commissions

InvestmentsCommissions
Stocks and ETFs $0
Foreign Securities not available
Options not available
Mutual funds not available
Treasury Bills, Notes, Municipal and Agency Bonds, Zeros & Strips not available


WeBull Account Minimum and Promotion



WeBull Review: Technical Analysis


Research: Tools and Analysis

This is one area that WeBull scores very highly on. The TA tools for analyzing equities are extensive and they have a great selection of indicators and charting options built right into the app. Traders can open up the advanced chart of any stock and draw trendlines, overlay comparisons, and utilize an array of secondary charts so all of your information is conveniently in one window. Robinhood only has the most spartan of technical analysis tools, users can’t even use Japanese candlestick charts, so WeBull scores an easy W in this category.


WeBull Review: Charting


Investors can also access tons of information for fundamental analysis, including all the major corporate earnings reports, conference calls, balance sheets, and more. There’s also a stream section which has links to live videos of all the latest market news stories. It’s really a wealth of information that stands right in there with Yahoo! Finance and other financial research applications.


WeBull Ratings


It doesn’t stop there, the news page offers tons of great information to help users find investment opportunities. There are special sections devoted to the day’s biggest gainers/losers, highest volume trades, IPOs and upcoming earnings, and more. Results can even be filtered to include international stock exchanges, like Canada and Japan, and you can create your own stock screeners to find opportunities to fit your trading strategy. These are great tools for finding profitable trades, use them to find opportunities and time your entry and exit points.


WeBull Paper Trading

WeBull also offers a fully integrated paper trading functionality. It’s great for investors who want to troubleshoot their trading strategy, practice timing their entry points, or otherwise trade for educational purposes. Users can even use to see how financial decisions can potentially impact their portfolio. This tool is highly useful and it’s not just for beginners. Investors at any level can utilize paper trading to become smarter, more profitable traders, and WeBull scores big by integrating this educational feature into the app.


Trading Tools

WeBull Stock Trading


WeBull has some noticeable issues when it comes to actual trading. Orders come in only the most basic flavors:

  • Stop
  • Stop Limit
  • Market
  • Limit

There are no take profit orders, trailing stops, or any other more advanced order types. It’s enough to make basic trades and not much more. One of the most inconvenient aspects of WeBull’s trading system is the inability to input ‘good until canceled’ orders. As a result, stop-losses or any other orders will expire at the end of the trading day. For investors that regularly employ stop-loss orders as part of their trading strategy, it’s an annoyance to have to input your orders every day.

Price execution on the platform is also not great. Often times, a market buy will result in a price well over what the stock is currently trading for, and limit trades seem to be a little slow on the trigger. However, WeBull does provide a bid-ask price chart so you can get a better idea of the price action momentum when trading.


WeBull Level 2 Quotes

At Webull, level II pricing info, available directly from NASDAQ, is built directly into the platform and can be unlocked for an additional fee.


Account Management

WeBull Account


WeBull is separated into five different tabs: watchlists, markets, trade, streams, and explore. The trade tab is the window into the user’s portfolio, account balance, and current positions. Current balance is displayed at the top along with an unrealized profit/loss figure. Listed below balance is the account portfolio, which shows all of the user’s equity positions, including the individual profit/loss for each equity. It’s a very efficient layout and gives you an immediate overview of your entire portfolio.

One of the only problems with this layout is the absence of a daily profit/loss category. While there is an overall profit/loss section for your account and positions, there is no category that breaks this number down into a 24 hour period. It can lead to some confusion as to just how well a trade is doing. Often times, a user can see green profits and think all is well while not noticing that profits have dropped from 9% to 6%. It takes extra effort to make note of the exact price changes and profit percentages to monitor your positions effectively, and this detracts from the convenience that an all-in-one splash screen is supposed to provide.

In combination with the lack of a take profit order and stop loss orders expiring at the end of every training day, it can be very time consuming to monitor a lot of positions.


Transfers

It’s very easy to start trading with WeBull. Using the app, you can transfer funds via an ACH fund or a wire transfer. Deposited funds are available almost immediately as buying power, but won’t actually show on your balance for a few business days. However, even though the transfer won’t be reflected in the account balance, users can use the buying power to trade right away, so it’s effectively the same as having the funds immediately available.

As per SEC regulations, trades take three days to settle, so investors have to wait three days after a transaction, until the trade settles, before withdrawing any profits.


Access

As of this articles writing, WeBull is only available through Android or iOS. There is no web-based, PC, or Mac OS trading platform, so you have to make all transactions relating to your account on an Android or iOS device.

For most people, that means they need to use their phone for all WeBull related activity. It’s not easy to analyze statistics or chart trend lines on a relatively small cell phone screen, so not having a web-based trading platform is a big negative. Traders can analyze equities for hours finding the right opportunities, and it’s a lot more comfortable to do that on a computer with a large screen while sitting at a desk.

The effectiveness of WeBull’s research tool is limited by this lack of access. It’s easy to get lost in this app’s treasure trove of data, but not being able to access via a desktop makes studying a cramped and uncomfortable experience.


Streams

WeBull News


WeBull’s stream tab offers a huge selection of financial news stories and videos. The news comes from reputable sources like Reuters, Cryptovest, and thestreet.com, to name a few. It’s a great way to quickly peruse the days business news for stories that are relevant to your investments. There is even a section that includes videos, so investors can get their news in whatever format they prefer.

Furthermore, users can customize their channels by selecting the categories they want to see within the stream tab. For example, channels can be filtered to include only news relating to U.S. markets. This feature contributes even more to an already impressive selection of available data and research tools from WeBull.


Promotion

Get FREE stock between $3 and $1,000 when you open account at WeBull.


Customer Service

Most discount brokers score poorly in this category. However, most investors understand in advance that they aren’t going to receive concierge-level services when they sign up. That being said, users expect basic customer service from even the most budget brokers.

WeBull even has a customer service phone number, an amenity notably lacking from their biggest competitor, Robinhood. Having the ability to call a phone number and quickly resolve an issue is a huge plus and makes interacting with WeBull much quicker and more efficient. Customer service is usually very personable and responds promptly to both phone and email inquiries. For a discount broker with zero-commission trades, WeBull’s customer service has good availability and resolves problems quickly.


WeBull Review Recap

WeBull has a wealth of information, news, research tools, and data that can stand against almost any trading or investing app. There are so many different ways to discover investment opportunities and trends that it can be almost overwhelming at times. For a beginner investor, all this data can be intimidating and can, at worst, cause immobilizing analysis paralysis, but for those with better background knowledge that can cut throw the fluff and truly utilize the tools, it’s an amazing array of information. In terms of research tools and available information, WeBull is a standout in the category and offers some of the most comprehensive analysis available in the mobile app market.

Trading, on the other hand, can be aggravating. Not being able to schedule advanced orders, like trailing stop and take profit, means investors need to monitor their positions closely. Additionally, users inexplicably can’t input orders that are good until canceled, so they need to renew all of their orders on a daily basis right before markets open if they want them to stay in effect. Needless to say, this is time-consuming and unnecessary.

Trading execution is also poor, and it’s common to get very bad prices on any kind of market sell or buy order. For limit and stop orders, reactions to price movements are often slow and result in reduced profits or increased losses. Making hair-trigger trades on this app is not easy and the lack of responsiveness means this app is best suited to swing-trading or investing approaches that don’t rely on very narrow entry windows to be successful. Users can’t access the app through the internet or PC either, so they are limited to using this app on their mobile phones and tablets. For this reason Firstrade with its excellent website trading is a much better choice.


WeBull Promotion For A New Account

Get FREE stock between $3 and $1,000 when you open account at WeBull.

Open WeBull Account


Firstrade


WeBull reviewed by TopRatedFirms.com Rating: 3