Rating
4.1

Introduction

Webull provides traders with technical indicators, ratings from research agencies, economic calendars, short-selling, and margin trading. Their trading platform is designed mostly for experienced traders, although beginners can also benefit from using them as well.



Are you tired of too simplistic trading apps? I know I was. They were fine when I had just started trading, and I had to learn everything. However, by gaining more experience, simple diagrams and limited information were not enough anymore. Unfortunately, what I found out when I started looking for the perfect app is that they were all so expensive.

Then I met Webull, one of the most recent commission-free trading platforms. It aims mostly at conquering the hearts of technical or active traders, supplying all the options and information you need to up your game. After this, I never had to compromise between convenience and efficiency anymore. Let’s have a look at what makes this platform unique (and what it should do to be better).

Who is Webull for?

Are you and advance or intermediate trader, and you are not satisfied with common free platforms anymore?

Are you a frequent and very active trader, and you have realized that you are actually losing a good portion of your capital in commission fees?

Would you like to learn more about trading, and you feel like simplistic free platforms have no secrets left for you?

Webull is a trading platform that offers an incredible amount of information, both essential and technical. It is considered slightly too advanced for novice traders, but it is fairly easy to learn (with some commitment). The platform is best used on a desktop to get all the information offered. While an app was released in 2018, I found it quite hard to analyze all the details on my phone. As I become a better trader, I found the real-time bar to be essential.

Overview: Webull

There are so many trading and investing platforms on the market that it can be difficult to decide which one is the right one for you. Especially if you don’t know what to expect from the app itself.

If you are interested in a safe, efficient, quick, and commission-free platform, sign up to this one! This is what you can look forward to by getting Webull.

It is easy to use

While it is designed specifically for more advanced traders, the platform’s basic characteristics appeal to many traders, from beginner to expert. The interface you will deal with on the smartphone app or on your desktop is complete but easy to use and intuitive.

Moreover, to get straight to the point and enable you to complete the first live trade, Webull Finance introduced a Demo that you can follow and pretend to trade on.

This will give you the first hands-on experience that you might need to start trading on this platform.

Offers all the information you need

There is no need to limit your knowledge to simplistic numbers that summarise a much more interesting investment opportunity. Webull understands that and, through the tools at your disposal, you will be able to complete fundamental and technical analysis of a specific stock.

  • Fundamental analysis – The platform will give you the option to visualize recommendations, data regarding historical earnings and revenue, and essential stock information. Among those, you will get key statistics, dividends, splits, and news feeds related to that specific investment option.
  • Technical analysis – If you are more of an advanced trader and need other information on a specific stock, this is where Webull is a game-changer. You will be able to use the real-time bar along with adjustable charts (candlesticks and lines). You can modify the time frame between 1 minute and 60 minutes. If you are more interested in the historical data of that particular stock, you can set the time frame to show information for the past five years. Lastly, the platforms offer some interesting indicators such as Bollinger Bands, MACD, oscillators, and more.

It is safe

The Webull platform belongs to its parent company, Webull Financial LLC. This is part of the Securities Investor Protection Corporation (SIPC). This means that the company is committed to protecting your capital up to $500,000, including cash claims of up to $250,000.

Moreover, Webull’s clearing corporation has added an extra insurance policy. This covers securities and cash for up to $150 million. If you are worried about what is the maximum that the company allows you to hold, you should know that you can have up to $37.5 million in securities and $900,000 in cash.

Through these added layers of securities, Webull is one of the best platforms to use if you are worried about how safe your money actually is. However, be aware that the company does not cover for market value loss.

It is free

That is very important, right!? If you are an active trader like I am, it can be extremely frustrating to see much of your capital being burned away by trading commissions and fees. Webull does not charge fees for U.S. stock trading or to open and maintain an account.

There are no fees attached for inactivity or withdrawal. However, there are some trading fees you should be taking into consideration. For wire transfers, the cost can range between $8 and $45, depending on what kind of deposit you are making or if it happens within or outside of the U.S.

Lastly, and this is one of my favorite benefits, there is no minimum to open an account. This means that you can start trading straight away after the signing-up process is completed. The platform is also incredibly transparent, and you will never face unexpected fees.

How can I open an account?

The account opening process on Webull is extremely easy. You will see that it can be completed in moments; it is seamless and fully digitized. Your identity will be confirmed within 24 hours, and you can start trading immediately.

However, currently, only the U.S., Chinese, and Indian clients have access to the platform. Once you have launched the platform, you will be able to notice that for clients outside the U.S., the guidelines to sign up are not as clear as for American traders.

If you are looking at opening a cash account, there is no minimum to it, and you can start trading immediately. Yes, it is as easy as that!

Types of account

Through Webull, you can choose to open the account that suits your needs in the best way.
The choice is not as interesting as for a lot of other platforms, but the quality of the service is definitely greater.

Through Webull, you will be able to open only cash and individual margin accounts. Currently, you will not be allowed to open joint, IRAs, custodian, and corporate accounts.

Moreover, different kinds of accounts require a different minimum deposit or accessibility of leverage and short sale.

Through some of the options, you will be able to trade with borrowed money (leverage trading). Webull allows you to complete many actions within the same day. You will be able to sell, buy, and take short positions multiple times whenever you want.

What if I have a problem?

Trading is extremely personal, and if there is a problem, you will want to be able to speak with a reserved professional and efficient customer service. Webull is still a young company, and while it is quickly improving itself, there are still areas that need development.

Webull customer service can be accessed through emails, chats, and calls. However, similarly to me, many users have found that some of the emails are left unanswered, and it can be difficult to get in touch.

However, you will be able to speak to a specialized agent through the platform message center. The answers are often relevant and quickly to come through. Moreover, this customer support system is available throughout the weekends!

At a Glance

  • Commission fees: $0
  • Account minimum: $0 (for cash accounts, it can be higher for other account types)
  • Account types: individual cash and margin.
  • Promotion $300 in free stock.
  • Customer service: platform message center, available during weekends.
  • Account opening: within 24 hours, fully digitized.

Pros and Cons

Pros:

  • Webull is one of the few platforms on the market for expert traders
  • Perfect for short term trading as there are no commission fees
  • It offers higher quality and quantity of information about specific investment opportunities
  • Through the real-time bar and graphs, you can visualize the movements and trends of that stock in a chosen time frame
  • There is no minimum account to start trading
  • You can trade with commission-free U.S. stock and EFTs

Cons:

  • Only accessible by U.S., Chinese, and Indian clients. There are no guidelines for Indians clients to sign up.
  • The customer support offered needs improvement.
  • Only two types of accounts can be opened through Webuss: individual cash and margin
  • Not great for long-term trading

Wrapping it up

Webull has a lot of competition on the market, but it sets itself to attract more expert and active traders. The commission-free trading option is definitely one of the most attractive features of the platform. Moreover, here, you will be able to find all the information you thought you lacked in other platforms.

I would recommend anybody to try out this new platform. It is easy and free to sign up for it, so you won’t be losing anything. However, this could be just the solution you were looking for. Let us know what you think by leaving a comment below!