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

Webull Overview

Webull is beginning to advertise its brokerage services on television. A thirty-second spot, however, doesn’t have sufficient time to inform you of important details. This article does.

Webull Pros

- Webull’s stock and ETF commission is $0.00. Can’t get much lower than that.

- The broker has a very good mobile app with advanced charting, information on UK and German stocks, cryptocurrency rates, a simulated trading mode, a community forum, and much more.

WeBull Review: Charting

- Besides the mobile platform, the broker also has a new desktop platform. Like its mobile cousin, there are no account minimums or trading requirements. Full-screen charting offers a lot of great tools, paper trading makes another appearance, and we definitely like the security research the software offers.

Webull Trading Platform

- There is an equity screener on Webull’s desktop platform. It is able to look for stocks on both U.S. and foreign exchanges (the latter aren’t tradable). Some of the criteria are unusual. For example, it’s possible to search by analyst sentiments (strong buy, neutral, etc.) and technical indicators. We found MACD golden cross and moving average, 5 cross over 10.

- Despite being a low-cost broker, Webull does manage to offer some good security research tools. Analyst ratings are available along with detailed information from a stock’s financial statements.

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Webull Cons

- This section is going to be longer than the first, which probably says a lot about trading with this broker.

- Although Webull’s stock and ETF commission looks great, it comes with a lot of caveats. The first is the fact that Webull puts stocks under $1 in price on a restricted list. Stocks with market caps below $10 million go on the same list.

- Many investment vehicles aren’t available for trading at Webull. Closed-end funds aren’t part of the ETF lineup. Also missing on the list of tradable assets are option contracts, forex, futures, mutual funds, cryptocurrencies, warrants, contracts for difference, over-the-counter stocks, global stocks, and bonds.

- Customer service is virtually non-existent at this broker. Webull doesn’t post its phone number on its website or on any of its trading platforms. Moreover, the website doesn’t offer an online chat function, either in human or digital format. The company has no branch locations. The only two contact options are a service e-mail and a contact form on the mobile app. Given the emphasis on customer support, don’t expect a quick response from either avenue.

- Solo 401(k)’s, annuities, and education accounts aren’t available here.

- Webull doesn’t offer managed accounts, a robo advisory service, or financial advice at any price.

- There are no cash management tools at Webull. Checks and a debit card are unavailable, and free cash balances earn zero interest. There’s no FDIC sweep program.

- The broker’s website has no customer login. This not only means it’s unavailable as a trading platform; account management and customer service functions are absent as well.

- Although Webull’s mobile app has some good functions, there are several that are missing. For example, there is no check deposit tool, no video news, and no bill pay. Schwab, by comparison, offers all three.

- Webull doesn’t offer a smartwatch platform (E*Trade does), or an app for Apple TV (Fidelity does), or an iMessage function (TD Ameritrade does), or a skill for Amazon Echo (Interactive Brokers does).

- Although we liked Webull’s desktop charting program, it does have some weaknesses compared to other brokers. For example, there are only 25 technical indicators. Ally Invest’s software, by comparison, delivers over 100 indicators.

- While Webull provides all US-listed exchange-traded funds, the brokerage firm doesn’t provide the same level of ETF tools that other firms deliver. For example, E*Trade offers its clients a list of recommended funds pre-screened by the broker’s investment advisors. There is no charge for this list. TD Ameritrade delivers ETF commentary from Morningstar free of charge. These types of resources are absent at Webull.

- Although there are some good security research tools at Webull, there are no general educational resources. Other brokers, like Firstrade and Merrill Edge, provide articles and videos on the basics of bond trading and how to submit an options order. These resources are ideal for beginners.

WeBull Promotion

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Webull Review

Read detailed review of Webull


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