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Webull Review 2020: Free Stock Trading App for Active Traders

Webull is an online trading platform offering stock trading with zero commission fees.

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Webull is a robust self-directed trading platform designed for the active and intermediate or experienced traders, however, some beginner traders can also benefit from the platform. Features include commission-free trades in U.S. Listed Equities, exchange-traded funds (ETFs), and foreign companies through ADRs. Brokerage services are provided by Webull Financial LLC, a registered broker-dealer with the SEC, and a member of FINRA and the SIPC.

Webull offers a comprehensive toolset: technical indicators, economic calendars, ratings from research agencies, margin trading and short-selling. Additionally, Webull offers community participation through a forum and competitions to educate and engage traders.

Webull Key Features:

  • Advanced and intelligent tools and services
  • $0 Commission Fees
  • Free Real-Time Quotes
  • Multi-platform Accessibility
  • Full Extended Hours Trading
  • 24/7 Online Help
  • Community forum to chat with other traders
  • Paper trading competitions

Webull New Account Promotion

Currently, Webull is offering an account opening bonus. Open your free Webull account and receive a free stock valued up to $250. Additionally, fund your account with $100 and get another free stock valued up to $1400.

Webull Overview

Webull Financial LLC is a financial company driven by technology offering an All-In-One self-directed investment platform with excellent user experience and advanced tools and services.

What Is Webull?

Webull is an individual brokerage account allowing trades via mobile app, web and personal computers with trades cleared by APEX Clearing Corporation. The company’s legal name is Webull Financial LLC. They are a registered broker-dealer with the SEC and a member of FINRA and SIPC. Webull, founded in 2016, is a privately held, venture capital-backed company.

Who is it best for?

Webull is best for intermediate and active traders who want access to a robust platform to make technical trades. The platform might be overwhelming to newbies but beginner traders can learn quickly on how to make trades using the educational and community features.

What do you get?

Webull trading platform is cloud-based giving you access through a mobile app with tools incorporated to provide information and insights to help you make better trades. With Webull, you get many brokerage features found in larger online brokerages such as access commission-free trades, real-time market data, analysis tools. Webull is unique in offering community features to engage with other traders.

Webull helps you perform both fundamental and technical analysis:

  • Access to analyst recommendations, revenue and historical earnings per share data
  • Get key statistics, insider trades, stock quotes and information such as earnings, dividends and stock splits
  • Feeds to track news that could affect your stocks
  • Provides a real-time bar and line charts: time frames ranging from 1 to 60 minutes and historical data set going back in the past 5 years or more.
  • Use popular indicators such as Bollinger Bands, MACD, and more

How Webull works

Webull does not charge for an account or commissions for trades of stocks in its platform. There are SEC and FINRA fees that apply when selling.

“We make money the same way every other broker makes money, but with one less revenue line item: commissions. In order to keep the lights on, we optimize the back-end revenue streams that every other broker (traditional or not) utilizes to generate revenue. Simply put, these are stock loans, interest free credit balances, margin interest and payment for order flow.” (Webull website)

Webull offers a margin account with no minimum required. There is a minimum of $2000 to use leverage and short. To trade on margin, there are no fees but you’ll pay interest based on how much you leverage (borrow from Webull).

Safety and Security

Webull is a member of the SIPC with up to $500,000 protection of account assets of which $250,000 in cash is protected. Additionally, Webull’s Clearing Firm offers additional insurance protection. These insurance protections do not insure against the loss of your securities do to market fluctuations. Visit the SIPC website to learn more about what it protects.

Where to Get Started with Webull

  1. It’s quick and easy to get started on mobile and through the app.
  2. Complete the required information to verify your identity and clear the waiting period to make a new brokerage account.
  3. Fund your account by connecting a bank account.

Why Use Webull

If you’ve wanted to use a free trading platform that’s suitable for day trading and has access to fundamental and technical information, then Webull is the app for you. Webull might be a bit more robust for beginner traders. However, the platform makes it easy to make your first trade in minutes. Do you want to do a bit more research before buying/selling? Use the app features to make a better decision when to buy, sell, and hold. Webull is also a very good app for those who want access to a community of traders that share information. The community is currently available on mobile only.

Smile Summary: My Personal Webull Review After 90 Days

I’ve used Webull for about 3 months and it’s not for the faint of heart. I am an investor, not a trader. I also have a moderate understanding of trading and initially found the app overwhelming. That’s until I started playing around with the app and began utilizing their paper trade competitions. Webull does a great job of getting newbie traders comfortable with the platform. It’s great that there are no commissions on trades and zero minimum balance requirements. I’ve made a couple of trades. My favorite part is access to all the research tools and really enjoy the community aspect that sets Webull apart from the competition.

With no minimum requirement and zero commission trades, it’s easy to get started using Webull today!

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Jason Vitug

Jason is the founder of phroogal, creator of the award winning project Road to Financial Wellness, and author of the bestseller and New York Times reviewed book, You Only Live Once: The Roadmap to Financial Wellness and a Purposeful Life.

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