Webull Review

Webull is a company in New York City that helps people trade stocks, ETFs, options, and cryptocurrency in the U.S. and other countries. It’s regulated by the SEC. You can use its mobile app to trade without paying commissions. Started in 2017, it wasn’t just a platform for managing portfolios and research. Later, it added brokerage services. Webull Corporation, based in New York, is a holding company formed in the Cayman Islands. Its subsidiaries run an electronic trading platform.

They offer trading in stocks, ETFs, options, margins, and cryptocurrencies. In the U.S., their subsidiary, Webull Financial LLC, is a registered security broker. They’re members of FINRA and SIPC, serving U.S. customers. Webull is owned by Hunan Fumi Information Technology, backed by Xiaomi, Shunwei Capital, and other investors.

🏢 Headquarters United States
🗺️ Regulation SEC, FINRA
💻 Trading platform: Web Platform, App
💰 Account currency: USD
💵 Withdrawal: ACH and wire transfer
🚀 Minimum deposit: $0
⚖️ Leverage: 1:4
💼 PAMM-accounts: No
📈️ Min Order: No Minimum Order
🎮 Demo Account Yes
💱 Spread: No Spread
🔧 Instruments: Stocks, ETFs, ADRs, OTCs, options, cryptos, forex, fractional shares
📋 Orders execution: ECN/STP
☎ Customer Support 24/7
📚 Education

What is Webull?

Webull is a financial company that created the Webull stock trading app. The app helps regular people trade stocks with low fees and features like free trades, real-time stock prices, trading after hours, and more.

Pros and Cons

Pros Cons
Webull has easy-to-use layouts and great design, making it enjoyable for any device. Although Webull offers more educational content now, the quality has dropped.
Account opening is fast and very easy. Product portfolio is limited.
Options traders can trade without paying any commission. Crypto trading is now on a different app from Webull.
Webull offers commission-free trading on multiple assets and inactivity fees is zero. You can’t invest in open-end mutual funds or fixed income through Webull.
Beginners can practice trading with simulated accounts and buy fractional shares. For deposit/withdrawal only bank transfer option is available.
Offers free stocks to newly registered investors Phone support is not that much good.


Webull doesn’t charge commission for trading stocks, ETFs, and stock options in the U.S. They make money from margin lending, interest on cash, and order flow payments. Other brokers, like Fidelity and Vanguard, also make money this way. There are some fees for trading options.

Webull Regulation and Security

Webull is regulated by the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA). This makes it trustworthy. They’re also a Securities Investor Protection Corporation (SIPC) member, which protects clients’ assets up to $500,000. However, cryptocurrency trading is offered through a different company and isn’t protected by SIPC.

Deposits and Withdrawals

You have two choices to deposit money into your Webull account from a U.S. bank: ACH transfer and U.S. domestic wire transfer. ACH transfers are free but limited to $50,000 a day. Wire transfers have higher limits but come with fees. Non-U.S. bank account holders must use international wire transfers with fees.

Is Webull safe and Legit?

Yes, Webull is safe. It is registered with the Securities and Exchange Commission and is a member of FINRA, SIPC, and stock exchanges. SIPC protects balances up to $500,000, and there’s additional insurance for securities and cash up to $150 million.

Leverage With a margin account, traders can borrow up to four times their day trading power and two times their overnight buying power. You need at least $2,000 to use leverage. Leverage can be risky, so beginners should be cautious.

Account Types

Webull offers two main accounts: Individual Brokerage and IRA. You can choose between cash, margin, and IRA accounts. There’s no joint account option.

Individual Brokerage Account

To buy and sell securities, choose the Individual Brokerage Account. It comes in two types: Cash Account and Margin Account. The Cash Account lets you pay for assets in full without margin but offers a 5.0% APY on uninvested cash. There are no minimums or fees, but you may face a Required Maintenance call for negative balances. The Margin Account allows leverage for experienced traders.

Individual Retirement Account (IRA)

For long-term investing, use the IRA. It lets you invest in stocks, ETFs, and options with tax benefits.

Trading Platforms

Webull has a trading platform that you can use on your computer or web browser. Both versions are easy to use and have lots of features, like charts and indicators. Our tests show that the computer version has more advanced tools. However, it doesn’t have other popular platforms like MetaTrader 4 (MT4), which serious traders might miss.

Research & Education

Webull has some tools for researching the market and learning about stocks. There’s a News Center that gives updates on the market and stocks. Also, an IPO hub tells you about new companies going public and their earnings. These tools are good for new investors, but if you’re more experienced, you might prefer other brokers with more advanced tools. However, Webull does well in terms of education. They have videos, articles, and courses for traders of different levels. These cover topics like short selling and technical analysis and are comparable to what eToro U.S. offers.

Webull, like Robinhood, has lots of people who like it because it’s easy to use, has many active investors, and was one of the first to let you trade for free. If you’re starting or haven’t built a big investment collection, other places might suit you better. But if you know a bit about trading, like doing it often, or want to improve with advanced trading tools, Webull could be good for you. Plus, it’s cheaper compared to similar options.

Customer Service

We found Webull’s customer service to be good. They offer help 24/7, which is better than many other brokers that only help during the week. They also have a lot of helpful information on their website.

You can contact them through:

  • Live chat on the app
  • Phone: +1 (888) 828-0618
  • Email: customerservices@webull.us

Frequently Asked Questions

Is Webull legit or scam?

Webull is legit. It’s a new company, but it’s trusted. The SEC and FINRA oversee it, so it’s not a scam.

Is Webull a good or bad company?

Webull is good. We tested it and found it good for beginners. Its mobile app is easy to use, and you don’t need to deposit a minimum amount to start. It also has tools like Smart Advisor, which lets you buy fractional shares.

Is Webull good for new traders?

Yes, Webull is good for new traders. It has a demo account, you don’t need to deposit any money to start, and it provides educational materials. Its trading platform is easy for beginners to understand.

What is buying power on Webull?

Buying power is the money in your account plus any margin. You can use this money to buy stocks.

Does Webull have Level 2 market data?

Yes, Webull has Level 2 market data, but you need to pay $1.99 per month for it.

Does Webull have a good mobile app?

Yes, Webull’s mobile app is good. It’s easy to use, available on iOS and Android, and provides Level 1 and 2 market data. You can also trade using voice commands.

Can you buy XRP on Webull?

No, you can’t buy Ripple (XRP) on Webull. However, you can buy other cryptocurrencies like Bitcoin (BTC) through its Webull Pay app.

What time does Webull close?

Normal trading ends at 4:00 pm, but extended hours go until 8:00 pm. Cryptocurrency trading is open 24/7.

Is Webull better than Robinhood?

Yes, Webull is better than Robinhood. Our research found that Robinhood treated traders unfairly, but Webull has a good reputation and offers competitive conditions. You can try both using demo accounts to see which one you prefer.

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