For those interested in trading stocks, ETFs, and options, Webull is a no-cost brokerage platform that meets all of your needs.
Yes, Webull is a commission-free trading platform…
However, there are some other charges to be aware of, which I will cover soon.
Webull is a new broker in the game, founded in 2017, but they came out swinging with some awesome features.
Fumi Technology, a Chinese company, runs Webull, but it accepts US, Chinese, and Indian citizens.
Webull, founded in 2017, has millions of users and manages over $3 billion!
Should you use Webull, one of the best trading platforms? Let’s see…
This review will go over Webull to see if it really is the best trading platform out there.
You’ll learn whether Free Stocks Trading is the right online business for you.
Alright, so Webull doesn’t exactly fit into a nice category.
At the end of the day, free stock trading is a… unique way to think about making money.
It’s certainly possible to make money with off-the-wall businesses like this, but unless you’re interested in taking years out of your life to experiment with an unproven business model, I would look elsewhere.
My #1 personal recommendation if we’re talking about starting a fully-online business has got to be the Lead Generation & Ad Agency business models.
There are a handful of programs that teach you the ropes, but my #1 choice that combines both of those business models into one is the Digital Rental Method program
But, if you’re hard pressed to jump head-first into an off-the-wall business model, let’s continue on to my full breakdown of Webull.
What Is Webull?
Webull is a stock and ETF trading app that doesn’t charge trading fees. The SEC and the Financial Industry Regulatory Authority (FINRA) keep an eye on it.
Webull also facilitates short selling and margin trading. Webull is a trading platform that can be useful for experienced and inexperienced traders.
Webull is a popular Robinhood alternative.
- Intermediate traders
- Active traders
- Advanced traders
Who’s Webull For?
Those who are more experienced in investing and trading on their own will find the most use out of Webull and its accompanying mobile app. Compared to other online brokers, its commission-free structure is tailored toward short-term and active traders looking to save money.
The intuitive features and design of the Webull platform may be considered advanced for beginner traders, but you can still learn the platform.
WeBull offers fractional shares to its customers, allowing even the smallest accounts to participate in the most expensive stocks.
Webull offers a list of trading courses and a trading simulator or demo trading account with real-time data and advanced charting capabilities for stocks listed in the United States.
These features may appeal to new traders who want to learn more about the market and develop a trading strategy.
Webull Customer Experience & Tools
Both advanced and beginner traders will find what they need in the Webull trading platform’s mobile web-based and desktop app versions. With the help of the platform’s resources, you can gain the knowledge and understanding necessary to make more lucrative trades.
The platform includes tools to assist you with both fundamental and technical analysis.
Aside from access to analyst recommendations, revenue, and historical earnings per share data, the platform also provides key statistics and insider trades. It also provides stock information like earnings, dividends, and stock splits to keep you informed about events that could have an impact on your investments.
On the technical side, the app offers a real-time bar, candlestick, and line charts with time frames ranging from 1 minute to 60 minutes, as well as a set of historical data dating back 5 years. Popular indicators such as Bollinger Bands, MACD, oscillators, and others are additional technical resources.
Sign up for Webull and receive a free 3-month subscription to Webull’s Level 2 Advance (Nasdaq TotalView service) for a more in-depth view of markets and orders, including opening, closing, IPO, and halt crosses. The NOII is one of the benefits. It increases market transparency by revealing the actual supply and demand dynamics.
Furthermore, cryptocurrency trading is now available on Webull. Here’s why you should use Webull’s brand-new feature:
- There is no commission.
- Can trade using a single account
- Trading cryptocurrencies 24 hours a day, 7 days a week is possible with this platform.
- A $1 minimum deposit is required.
- Real-time data for free.
- 8 charts and 50+ indicators to aid in market analysis
- The layout is highly customizable.
- Mobile, desktop, and web platforms are all supported.
- In the community tab, you can interact with others.
- Responsive customer service
- The help desk is open 24 hours a day, seven days
- Authentication with two factors
- secure and safe
Webull’s Research Offerings
Regarding accessibility, filtering options, and general usefulness, Webull’s study scores exceptionally well. The app’s research features are divided into four tabs: markets, news, stock details, and screeners.
The screener’s page lets you choose which stocks to track and which technical parameters to monitor and set smart alerts for.
An economic calendar with upcoming IPO dates, earnings, and other news about the stocks you’re following is included in the feature. You can create your own watchlists on the app and receive alerts via email or SMS.
Webull can track Canadian stocks, ETFs, and options. Also, cryptocurrencies, futures, commodities, and indices are in addition to US stocks. The app allows you to track stocks in 5 categories in over 90 countries/regions, with over 25,000 stocks.
You can also track 100,000 funds, 1,000 currency pairs, and 3,000 commodities.
Webull offers trading ideas and courses, such as day trading classes for beginners. The trading simulator, which is essentially a demo account that you can use to try out the platform and simulate trading ideas, is one of the platform’s best features.
Webull’s Commissions And Fees
Neither opening an account nor making trades in U.S. stocks cost anything at Webull, just like its major rivals. Though, there are costs associated with the SEC and FINRA.
- SEC fees. On stock sales only, a $13 charge for a total of $1,000,000 in principal, with a $0.01 minimum.
- FINRA fees. A TAF of $0.000119 per share on stock sales only, with a minimum of $0.01 and a maximum of $5.95.
To trade on margin accounts, you must have at least $2,000 in your account.
Webull has free stocks promotion in which you and someone you refer to Webull can each receive one share of stock worth up to $1,000. It could quickly add up if you have a lot of friends who like to invest and are new to Webull.
Webull’s parent company, Webull Financial LLC, participates in the SIPC. Webull provides members with up to $500,000 in total insurance on their securities, $250,000 of which is for cash claims. A savings account is similar in some ways.
Apex Clearing Corp., the company’s clearing corporation, has also purchased an additional insurance policy. The policy provides coverage for securities and cash up to $150 million. The maximum limit for any customer’s securities is $37.5 million, of which $900,000 can be in cash.
SIPC protection and Apex Clearing Corp.’s additional insurance policy don’t protect Webull members from a loss in the market value of their securities.
Webull 7.0 Update
Webull 7.0 was released on May 13, 2021, as another update to their platform. Among the updates are:
- Learning Tools: You can access information to help you make better investment advice decisions.
- New Account Homepage Design: The new account page makes reading and accessing information more accessible, such as the newly added daily P/L and realized P/L screens.
- Integrated Message Center: You can now categorize messages to organize information better.
- Financial Report Analysis: In-depth financial data is now available in a graphical format to assist you in making quick and informed investment decisions.
- Depth Market Quote: Advanced Market By Order and MPID can now be seen on bid and ask transactions.
- Webull Crypto now supports three additional cryptos: Dogecoin (DOGE), Stellar Lumen (XLM), and Zcash (ZEC).
Webull’s Customer Support
You can reach Webull’s customer service team at:
- Instagram, Facebook, and Twitter
Webull’s Frequently Asked Questions page has all the info you need to create an account, add funds, and send money or stocks to another person. There is also a Trading on Webull section with details on costs, assets you can trade, and different orders you can place.
The FAQ sections on the help page can answer your basic questions. Email or call Webull for more information or speak with a Webull representative for more information or assistance.
Tradable Asset Classes, Investment Strategy, And Mutual Funds
More than 5,000 individual stocks and exchange-traded funds (ETFs) are currently available for trading on Webull. Because of recent policy changes, the broker can no longer facilitate transactions involving stock options, OTC stocks, mutual funds, bonds, or cryptocurrencies.
Another important feature is the ability to margin short sales and leverage the sale up to four times the amount in the account for same-day trades and two times the amount for overnight trades. When trading with a margin, keep in mind that your net account balance is $2,000.
Suppose your balance falls below that amount and you have open positions. The broker may liquidate your position to cover the margin shortfall in that case.
You have access to unlimited day trades if you have a balance of $25,000 or more in equity. Only settled funds can fund day trading in a cash account. For example, if you only have $500 in a cash account, you can only day trade in that account up to that amount.
Can You Make Money With Webull?
Yes, you can!
There’s a lot that comes along with Stock Trading that many people struggle with.
Now, don’t get the wrong idea…
It’s not impossible to make money with Stock Trading, but if you’re gonna put in the amount of grueling work to do this business (which, trust me, isn’t easy), you might as well bring in some REAL money while you’re learning the ropes.
Trading Outside Market Hours With Webull
Thanks to Webull’s premarket and after-hours trading options, you can trade when everyone else is sleeping. You can act on any breaking news that may impact your portfolio overnight during premarket hours. Although after-hours trading is similar, it’s important to remember that liquidity decreases during this time because many institutional investors choose to trade after-hours.
Webull’s extended trading hours are as follows:
- Premarket trading hours begin at 4 a.m. EST and end at 9:30 a.m.
- After-hours trading starts at 4 p.m. EST and concludes at 8:00 p.m. EST.
Webull’s Ease Of Use
Webull appeals to traders of all experience levels, from the ease of downloading the Webull app to the simplicity of making your first live trade. The mobile app and desktop version of the Webull trading platform have an intuitive, easy-to-use interface that can be learned by trading in the demo account.
As long as you have sufficient funds, you can change your account from a standard account to a margin account directly on the platform. Another benefit of the Webull platform is its adaptability. Traders of all skill levels can benefit from Webull, which allows them to create watchlists and set alerts.
Final Thoughts On Webull
Webull could be an excellent choice if you are a US citizen who only trades US stocks and ETFs. You can access the stock market and many other markets through the Webull app or website.
Though the platform currently only allows stocks and ETF trades, you can monitor various global markets such as cryptocurrencies, forex, and commodities. Access to trading in other assets and markets should become possible as the company grows.
With over 22 technical indicators, the platform’s charting capabilities are more than adequate for many traders who use technical analysis. The platform’s news feeds, and analyst evaluations will also provide you with fundamental data for investment and trading analysis.
Frequently Asked Questions
Is Webull A Good Brokerage Firm For First-Time Investors?
Webull is geared toward intermediate and experienced traders, but new traders can benefit greatly from the platform.
Is It Possible To Trade On Webull Before The Settlement Date?
You can trade your funds before settlement day if you have margin accounts.
What Is Diversification?
Diversification means spreading your investments across a wide range of assets. This is one method for balancing risk and reward in your portfolio.
Diversification can also help to reduce portfolio risk and volatility. It doesn’t guarantee profit or loss, but it’s always a good idea not to ‘put all your eggs in one basket.’
On Webull, How Do You Purchase Fractional Shares?
Webull does not permit the purchase of fractional shares of any stocks or ETFs. Between 4 a.m. and 8 p.m. EST, you can trade over 5,000 US-based stocks, options, and ETFs. It doesn’t allow trading in bonds, mutual funds, or over-the-counter stocks.
What Is Financial Industry Regulatory Authority?
FINRA is a self-regulatory organization that regulates member brokerage firms and exchange markets. FINRA replaces the National Association of Securities Dealers, Inc. (NASD) and the New York Stock Exchange’s member regulation, enforcement, and arbitration operations. The US Securities and Exchange Commission is the ultimate regulator of the US securities industry, including FINRA (SEC)
What Is Securities Investor Protection Corporation (SIPC)?
Customers are protected if their brokerage firm fails. Broking firms fail rarely. If it happens, SIPC protects your securities and cash up to $500,000. Up to $250,000 of the $500,000 is protected for cash in your account to buy securities.
How Do You Buy Cryptocurrency On Webull?
Webull allows you to purchase specific cryptocurrencies such as Bitcoin, Ethereum, Litecoin, and Bitcoin Cash. To trade cryptocurrencies, you must first obtain approval and update your trading application to version 6.31. Following approval, navigate to the “Cryptos” link under the “Markets” tab. By pressing the “Trade” icon in the bottom left corner, you can select what you want to buy or sell.
Are There Alternatives To Webull?
Yes, there are plenty of other business models to choose from if you want to pursue this making money online. Here are just a few:
Is Webull A Scam?
Time for the $1,000,000 question: is Webull actually a scam?
I wouldn’t technically call it a scam, though others might.
It’s technically possible to make money with this program, so in that sense, it isn’t a scam.
What I’m saying is: after buying, someone will in fact send you a login to a website where you can actually view their material. No one is riding off into the sunset with your money, leaving you empty-handed… technically speaking.
But the second, more important question is: is Webull actually worth the investment?
My honest answer is that for most people out there, probably not.
There are countless other business models that are proven & easily scalable, so why risk it for… not an incredibly huge payoff?
I’d rather have a program with thousands of successful students & plenty of room for others to join.
If you’ve followed my blog for long, you know I recommend a few different programs depending on your skills & goals.
My current top choice is using the Digital Rental Method, because you have a proven, systematic path to 6-figures, and you can do it from anywhere you want.
I’ve got friends in there that are posting deals from the middle of the woods in a camper-van with their pet pig… which is kinda cool.
What Is My #1 Recommendation For Making Money Online In 2022?
Read Our In Depth Breakdown Of The Top 5 OppOther Courses For 2024
Alright, time for me to get real with my lovely readers for a moment:
I’ve personally tried all of the major online business models:
- I’ve sold fidget spinners through Amazon FBA
- I’ve drop-shipped a toilet bowl putting green on Shopify
- I’ve sold women’s health supplements via Clickbank affiliate marketing
And I made money with all of them, so trust me when I say: there is no “perfect” business model.
THAT BEING SAID: I would at least recommend you implement something that is tried and true, because I’ve seen TOO MANY people (including friends and family) get burned by stuff like Webull.
They come out of left field with some random idea, make it seem attractive, and then make themselves a quick buck by luring in unsuspecting people.
I’m not saying Webull itself is a piece of trash, I’m just saying you need to be very, very careful.
This is a big reason why I only recommend proven, tried and true business models, like Lead Generation & Ad Agencies.
There are a bunch of programs out there that teach you those skills, but my top choice is the Digital Rental Method program.
Why? It has proven leaders with their own 7-figure businesses implementing exactly what they teach you.
I’ve also got over a dozen personal friends in there, so I feel comfortable telling you it works.
Whether you’re a complete newbie, or you’ve been around the block before but have never had that “big win” to propel you forward, their program works.
1)Time: If you’ve got a spare hour or two each day, you can do this. If you want to drop everything and go all-in, you can do this. More time obviously means faster results, but even putting in a few hours per day is enough to see real success.
And because of that flexibility, you don’t need to trade your time for money. Once the income starts, it’s recurring (for the most part).
That means you can take a month off, travel the country, pursue a passion project, chill on the beach, or charter a boat across the world.
But you can only do that once you’ve created an income stream that doesn’t require YOU to be there all day, every day.
2)Big Margins: With most businesses, you’re often going to have really slim margins. That means you need to hit a serious scale to make serious money.
using the Digital Rental Method, your profit margin is nearly 100%. Watch here to learn how.
Just a reminder: these Digital Rental Properties are worth (at a minimum) $500/mo in semi-passive income. And each time you create another one, your income increases, and the effort put into creating the next property decreases.
Best-case scenario, you have properties bringing in over $3,000+/mo on “auto-pilot.”
3)It’s Effectively Copy-Paste: Here’s my favorite part: once you have your first Digital Rental Property up, you can literally copy-paste another version of it and find another willing “renter” in a few days. DOUBLING your income doesn’t get much easier than that…
If you wanted to double your income with free stock trading, you would need to exert time and effort. And I can guarantee you, that’s a lot harder than a few clicks & a phone call.
4)You’re Helping REAL People: My biggest gripe with free stock trading is that you’re basically only helping yourself.
But With the Digital Rental Method, you’re helping solve REAL problems that people are ASKING for help with:
Small local businesses around the world need one thing: customers. Without them, their business would fall apart. If we can provide those customers, they’re going to be really happy – and they’re going to pay you for it.
You’re helping a struggling mother or father put food on the table for their families, put their kids through college, or simply live life a little bit more comfortably.
Having this type of impact on the world is what will help you sleep soundly at night.
So, the rest is up to you. You could keep looking at other off-the-wall business models like free stock trading and maybe hit it big one day.
You could keep researching and researching for the next few months (or few years), never making a concrete decision.
OR, you can look deep inside, think about those dreams, hopes, & desires, and make the decision to ACTUALLY make it happen, just like it has for thousands of other students before you.
Making a fortune while actually helping real people that need it.
If this sounds like you, click here to see how it all works.