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What is WeBull Investing?

Webull is a broker that gained big market share in the no-cost trading space by offering $0 commissions on all products. This article will offer a detailed look at what Webull is and the features they offer to their account holders.

Webull Investment Choices

One of the weaker areas of Webull’s platform is their limited range of investment options. They currently support trading in most U.S.-listed stocks, options, cryptos, and ETFs, but that’s it. They don’t let you trade mutual funds, penny stocks, fixed income, or futures. This won’t be an issue if you only trade stocks or ETFs, but for anyone who uses more intricate investment strategies incorporating these other security types, we recommend taking a look at Firstrade.

Free Trades

Despite their limited investment choices, Webull manages to attract investors with their $0 commissions. Trading with Webull, although limited in scope, is always commission-free. They also don’t require you to maintain any minimum balances to keep your account open or avoid maintenance fees (of which there are none). The only trading costs you’ll incur are the small regulatory, exchange-directed fees that all brokers pass on to investors.

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Other Fees

Despite Webull’s free trading and lack of account fees, they do have a couple other fees you should be aware of. They are one of the few brokers that will charge you a fee for incoming wire transfers below $25,000 (except for your incepting deposit). There is an $8 fee for domestic wires and $12.50 charge for international transfers. This is in addition to the fees that the banks generally charge for sending a wire. Webull’s fees for outgoing wire transfers are notably higher at $25 and $45 for domestic and international wires, respectively.

The good news is that the more common method of moving money between accounts, electronic or ACH transfers are free at Webull. Transferring your Webull portfolio to another broker would incur a $75 fee, which is standard across the industry.

WeBull Ratings

Trading Platforms

Most trading on Webull happens through their apps, which can be downloaded on your smartphone as well as your desktop. They don’t support trading via their website, as this is mainly used for its helpful Q&A section. The inability to trade on Webull’s website could be a drawback for some.

Webull Trading Platform

Stock Information

As with most brokers, Webull’s app provides the basic company and stock information that you’d expect and need to make an informed investment decision. Webull’s platform includes company news headlines and financial filings, some analyst ratings, and basic charting options. Your Webull account includes access to real-time U.S. market data.

Stock Alerts and Calendars

A nice feature of Webull that sets them apart from some of the competition in a good way is the ability to set custom alerts triggered by price and volume activity for the stocks you’re watching. These are helpful in the event you’re watching a stock you like for a possible entry but want to wait for the price or volume to reach a certain level first as a sign of positive momentum. With these alerts, Webull can automatically notify you when these conditions are triggered so you don’t have to worry about missing an opportunity.

Webull also lets you keep a customized financial calendar that displays important upcoming dates for the stocks in your watch list, such as earnings announcements or dividend ex-dates.

Virtual Trading Feature

Another nice feature that comes with your Webull accounts is their free virtual trading tool, which is essentially a practice account using fake money. Practice accounts are a great tool for new investors and experienced ones alike. They can give investors the closest possible experience to what trading is actually like without risking their money. For experienced traders, Webull’s virtual trading platform could be used to test out new strategies before using real capital.

Customer Service

Webull’s website, although not useful for trading, has a helpful Q&A section that has answers to most questions that investors have. For more complex inquiries that cannot be answered on their website, Webull has an in-app messaging service. On the downside, Webull doesn’t have a customer support phone number, which is frustrating for complex inquiries, but we weren’t too surprised since trading with Webull is a free service.

WeBull Friend Referral Summary

To summarize, Webull is app-based broker that supports trading in U.S. stocks and ETFs, but nothing else at the moment. They’re main selling point is free trades, but they do have some unusual fees for wire transfers. They offer some neat customized alerts that you can setup for your watch list, including volume and price-based alerts and a financial events calendar. They also offer a nice virtual trading account to practice on, which makes Webull a good broker to try if you’re okay with just trading stocks and ETFs and doing so through their app.

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