Advantages and disadvantages of Webull. What are the good and bad things of the brokerage company app? What are Webull cons, pros and benefits?

Webull Rating:  Webull Rating

The Pros and Cons of Webull

Having launched in 2017, Webull is one of the newer online discount stock brokerages. The last public numbers, November 2020, showed they had over 11 million users which also makes them one of the largest, as far as membership, in less than 4 years! So, with the fast rise in popularity, you may be wondering what are the pros and cons of Webull?

Webull Pros

1) By joining Webull, you are joining over 11 million members. This makes Webull one of the largest stock trading communities in which you can benefit by interacting within their “community” section of their App.

2) One of the reasons Webull has grown so quickly is because they became a zero-commission brokerage which appeals to investors that have smaller trading accounts. This means you as an investor are not charged any commissions when trading stocks, ETFs, or options.

3) Webull also does not charge platform fees, nor any account maintenance fees which both are popular fees on other brokerage platforms.

Webull Trading Platform

4) To stay with the “free” theme, Webull allows you to create a free account that provides you full access to stock prices (quotes), news, their “community”, and will even allow you to create watchlists of your favorite stocks.

5) You can gain access to Webull via their mobile app as well as their desktop app. Both provide the same information, so it becomes a personal preference and what type of trader you are. If you are a day trader and you want multiple monitors, the desktop app is fully customizable when it comes to layouts. If you are a more reserved trader, perhaps a swing trader, the app will work perfectly for you.

6) When you begin trading, you want as many advantages over others as possible. One of the biggest advantages is being able to trade premarket and aftermarket. The stock market is “open” from 9:30 AM to 4 PM Eastern Standard Time, Monday through Friday (excluding holidays). However, with Webull, you are able to trade from 4 AM to 8 PM Eastern Standard Time, giving you 9.5 hours more of trading time! This will allow you to capitalize on any “news” that companies drop before or after market hours.

7) Webull offers virtual trading. This allows you to trade, at no risk to you, and try out different strategies while also learning the best times to enter and exit the trade without risking actual money.

8) Speaking of money, Webull does not have an account minimum! Therefore, if you want to test your knowledge in the stock market and you only have $100, you can!

9) Webull has some of the best charting software options. Within the charting software, you can select numerous time frames, indicators (RSI, MACD, etc.,) alerts, and studies. You can fill your chart with as much, or as little, data as you like.

WeBull Review: Charting

10) Buying and selling are very easy on Webull and you are provided a lot of options, such as single buy/sell, OCO, trailing stops, and stop losses.

11) One of the best features, especially for day traders, is once you place a limit buy/sell order, it will show on your chart and you can easily drag and drop this to any other price point on the chart for fast execution!

12) When you do begin trading, you will need to decide if you want to have a “cash” account or a “margin” account. A margin account lets you borrow money against the securities you have in your account. When you utilize a margin account, you pay a fee. Webull has some of the lowest margin fees in the industry.

13) Once you start building up your account, one of the thoughts that may come to mind is, “are my funds say in Webull?”. That answer is yes! Webull states: Webull Financial is a member of SIPC, which protects securities customers of its members up to $500,000 ($250,000 of cash). Webull Financial LLC is a member of the Financial Industry Regulatory Authority (FINRA), Securities Investor Protection Corporation (SIPC), the New York Stock Exchange (NYSE), NASDAQ, and Cboe EDGX Exchange, Inc (CBOE EDGX).

14) One of the main reasons Webull has seen huge growth is because they continuously run different promotions where you can earn free stock. While the stock you receive is completely random, getting any free stock is awesome! Each month they change their promotions but essentially you can earn free stock(s) each time you do one of the following: join, fund your account, refer a friend(s), or transfer a balance from another brokerage.

You can get stock that is valued more when you fund your account with certain balances, the more you fund your account with, the more stock and value you receive, from $3 to $1,600!

15) With the influx of new investors, the market has seen the past 6 months (more on that later), Webull has been extremely active in adding additional services the new investors are wanting access to, such as crypto trading. You can stay up to date on all their updates by signing up for their newsletter and or signing into their app.

16) The broker now also offers investing in fractional shares of stocks and ETFs.

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Webull Cons

1) Webull does not offer a real-time support option. This means that there is no live chat nor phone support. The only way to reach support is via email. Although they reply within 24 hours, most of the time, when you are actively trading, that is a long time to wait!

2) Webull does have limitations to what they allow to be traded on their platform. Currently, they do not allow OTC (also referred to as penny stocks), stocks under $1, or companies with a market cap under $10 million to be traded. While these companies are riskier, with less government oversight, the majority of the other online brokerage companies allow the trading of these stocks.

3) You also will not find Bonds nor Mutual Funds tradeable on Webull. When you account for the securities not tradeable on Webull, you go from over 16,000 possibilities down to about 5,000 securities that Webull allows you to trade.

4) Webull’s app is widely popular and loved, holding almost 5-star reviews in the Apple and Google stores. However, their app does have a learning curve and can be a little overwhelming when you first log in. You can find plenty of videos online to help you walk through the app, just take your time.

5) Now that Webull is allowing crypto trading, it is important to point out that they do so on a limited basis (only a handful of coins), but also in a way in which you do not “own” the currency, you are simply trading it virtually. What this means is if you want to own, as in be able to hold it in a “wallet”, this is not currently available on Webull so you would need to use another platform for holding crypto in a wallet.

Webull Cons and Pros Recap

It is no secret that some of the “stimulus” money has fueled the growth in the stock market and it’s clear that Webull is capitalizing on this and will continue to be a leader in the industry. Just over the past few months, Webull has been adding features that they know the newer investors want, such as Crypto trading, and even added the popular Dogecoin!

WeBull Promotion

Grab your last chance to get 12 free stocks valued up to $30,600.

Open WeBull Account


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