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:
- Order flow
- Interest on cash balances
- 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.
Stock Trade Fee
ETF Trade Fee
Options Base Fee
Options Per Contract Fee
Mutual Fund Trade Fee
Broker Assisted Trades Fee
Webull allows you to trade:
- 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.
The web trading platform at Webull has a limited set of charting features:
- Standard chart types
- Drawing tools
- 50 technical indicators
- Grid layouts
These are easy to understand and identical on the desktop platform.
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.
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
- 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.
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.
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.
Research tools at Webull are basic. Most other brokers provide more tools with greater functionality.
Clients who aim to do stock research can use:
- 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.
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 movement. Accurate 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
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.