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Webull Review

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In A Nutshell 

Webull Review And Insights 

Webull offers more trading services than Robinhood but fewer than TD Ameritrade or Fidelity. It does not offer mutual funds, bonds, or futures. Some of Webull's premium trading services include: 

  • A community-driven and mobile-focused online broker.  
  • The mobile app has an excellent design with a focus on reliability. 
  • Traders can access $0 trades on ETFs and stocks, options, and crypto trades. 

1. Fees and Spreads  

Webull has no fee for trading ETFs, options, options contracts, or stocks. There is no minimum account balance required. The downside is that clients who want short stocks have to open a margin account. The margin account comes with a minimum deposit of $2000. 

This broker makes money in three ways: 

  1. Order flow 
  2. Interest on cash balances 
  3. Margin lending 

Wire transfers have an $8 deposit fee and a $25 withdrawal fee for domestic customers. International customers pay a $14 deposit fee and a $45 withdrawal fee. There is no withdrawal or deposit fee charged for ACH transfers. 

Feature

eToro

Minimum Deposit

$0.00

Stock Trade Fee

$0.00

ETF Trade Fee

$0.00

Options Base Fee

$0.00

Options Per Contract Fee

$0.00

Mutual Fund Trade Fee

N/A

Broker Assisted Trades Fee

N/A

Commision-Free ETFs

all

Webull allows you to trade: 

  • Stocks 
  • ETFs 
  • Options 
  • Cryptocurrency 
  • Short Shares 


Webull also offers access to IPOs without a minimum account requirement. But it doesn't provide any banking or advisory services. 

2. Trading Platforms 

Webull's desktop and web platforms are basic. These don't have any of the professional tools available at TD Ameritrade or TradeStation.  

Web Platform 

The web trading platform at Webull has a limited set of charting features: 

  • Standard chart types 
  • Drawing tools 
  • 50 technical indicators 
  • Hotkeys 
  • Grid layouts 

These are easy to understand and identical on the desktop platform. 

Market Replay 

An interesting feature at Webull is the market replay. Clients can check stock chart time-lapse video replays. That means you can "replay" specific time periods and watch the market price change. This replay can offer valuable information not available at any other broker. 

Desktop Platform 

The desktop platform at Webull is identical to the web one. It is easy to use, and it comes with a customizable layout. Desktop platform features include: 

  • Hot ETFs lists 
  • Essential watch lists 
  • Screeners 
  • Virtual portfolio 

This platform offers a premium overview of markets and news data, but lacks the functionalities available at competitor brokers. But it has a unique set of features like the Net Order Imbalance Indicator (NOII). The NOII is an integrated tool used for research purposes. 

Quote Data 

Webull clients must pay a monthly fee to receive level-2 quotes. Customers get charges $1.99 per month due to a partnership with Nasdaq TotalView. 

3. Mobile Trading 

Webull has a beautiful mobile app. Its user-friendly design offers data and graphics in a simple to understand format. Simple navigation makes it an excellent choice for beginner investors. 

Mobile trading with this broker comes with numerous features and extensive trading capabilities. 

4. Education 

Webull has little to no educational tools for investors or traders. It features generic articles and free tools. But there are no webinars, courses, or detailed reports. 

5. Research 

Research tools at Webull are basic. Most other brokers provide more tools with greater functionality. 

Stock Research 

Clients who aim to do stock research can use: 

  • Screeners 
  • Analyst ratings 
  • Price targets 
  • Company news 
  • ETFs data 

The downside is that Webull does not offer: 

  • Research reports 
  • Technical analysis data 
  • In-house market data 

Webull has a rudimentary blog with one solitary article for stocks. 

Webull Community 

An interesting feature with this broker is the Webull community. It functions as a private Twitter feed. Users can share ideas and insights on individual stocks and market movement. Community members make predictions about stock price movementAccurate predictions earn Webull points which are a members-only currency for purchasing Webull products.

6. Customer Support 

Webull has a reliable customer service team. Customer support is available by: 

  • Live chat 
  • Email 
  • Phone 

Live chat and email support are available 24 hours a day. Phone support is available during market hours. 

The Bottom Line 

Webull is an excellent choice for beginner traders. It is simple to use, and it offers $0 trades. 

But intermediate and advanced traders will feel restricted by the limited resources. 

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