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Webull is a mobile-first discount brokerage with a minimalist design for straightforward, convenient investing. Its user-friendly interfaces make investing accessible for beginners, with commission-free stock and options trades. Although its educational resources are limited, Webull is a community-driven platform encouraging investors to connect and share insights.
$0 ($2,000 for margin accounts)
0% (0.2% for robo-advisor)
- No minimum deposit
- Commission-free trading on US-listed stocks, ETFs, and options
- Cash and margin accounts available
- Webull Smart Advisor
- No joint brokerage accounts or education savings accounts
- No mutual funds
- Limited educational resources and retirement planning tools
Webull is best for beginners and intermediate investors in search of commission-free investments, expert market data, extended hours trading, and robo-advice. The app could also be a good fit for futures and options traders looking for an easy-to-navigate platform.
- App store rating: 4.7 iOS/4.4 Android
- Consider it if: You're after something that's free to use (for most people) and friendly to active traders
Introduction to Webull
Webull is an easy-to-navigate trading platform offering a thriving online community and an extensive selection of advanced trading tools. It caters to beginners and casual investors who can appreciate easy access to real-time market data, intuitive research tools, paper trading, and much more.
You can diversify your portfolio by investing in a wide range of investable securities, such as stocks, ETFs, futures, fractional shares, over-the-counter (OTC) trades, and index options. Uninvested cash can earn 5.00% APY if you enroll in Webull's free Cash Management Account.
Webull's portfolio management tools and educational resources are limited compared to some of the best online brokerages. The platform also doesn't offer mutual funds. Webull cryptocurrency trading is no longer available.
Webull is generally best for beginners and intermediate investors who value community and the convenience of mobile trading.
Here's how to use Webull's trading platform to fund your nest egg, trade on margin, or invest in fractional shares.
Webull: Overall Rating
| Feature | Insider rating (out of 5) |
| Fees | 5.00 |
| Investment selection | 4.00 |
| Access | 4.40 |
| Ethics | 3.00 |
| Customer support | 4.75 |
| Overall score | 4.24 |
How Webull Works
You can open an individual Webull brokerage account with a $0 minimum balance through the platform's desktop, mobile app, or web-based platform called WebTrade. Margin accounts require at least $2,000 in equity to open.
All users can access commission-free trades, enhanced pattern recognition tools, community features, technical analysis, paper trading, and extended trading hours. Available investable securities include stocks, ETFs, options, futures, fractional shares, and index options. Only stocks, ETFs, and options have no commission fees.
Webull also offers recurring investment strategies for stocks and ETFs to help investors reach their long-term goals. This feature can help manage portfolio risk and ensure steady growth over time.
Webull Smart Advisor
Smart Advisor is Webull's new intuitive robo-advisor that diversifies your asset allocation and offers hands-off portfolio monitoring and personalized risk distribution. A team of 130 financial experts uses quantitative analysis and insight to manage automated portfolios.
For a minimum of $100, Webull will build you a custom portfolio primarily of ETFs based on the results of your risk assessment. You can only retake the risk assessment twice every three months.
Retirement Accounts
Webull supports traditional IRAs, Roth IRAs, and rollover IRAs. You can set up an individual retirement account and contribute with pre-tax or post-tax contributions. In addition, you can roll over your employer-sponsored retirement plan if you choose.
You can grow your nest egg by investing in commission-free stocks, ETFs, and options. Like other Webull brokerage accounts, IRAs can be monitored and managed on the mobile app. Also, IRAs are now eligible for automated portfolio building and management through Webull's Smart Advisor.
Webull Fees
Webull is a low-cost online brokerage offering commission-free trades and minimal fees.
Most Webull brokerage accounts have no minimum balance requirement and no annual fees. However, a Smart Advisor account requires a $100 minimum and charges a 0.2% annual advisory fee after your six-month free trial period ends.
Although there are no minimum balance requirements or commissions on US-listed stocks, ETFs, or options, some of Webull's regulatory agencies and clearing firms still apply small fees on each trade. A $0.55 per contact fee may be applied to certain options trades.
Fractional share investing starts at $5.
Pros and Cons of Webull
| Pros | Cons |
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Webull Trustworthiness
Webull Financial LLC has received an F rating from the Better Business Bureau. The BBB uses a grade range of A+ to F when rating companies, so this is the lowest score a company can receive. The BBB also says on its website that its ratings don't guarantee whether a company will be reliable or perform well.
According to its website, the BBB has given Webull an F for multiple reasons, including government actions against the brokerage and Webull's failure to respond to customer complaints.
In March 2023, FINRA fined Webull $3 million, accusing the company of not conducting due diligence when approving users for options trading, having an ineffective customer communication system, and neglecting to report certain complaints to FINRA.
Webull vs. Other Online Brokerages
Webull vs. Interactive Brokers
Webull and Interactive Brokers are comprehensive, low-cost trading platforms offering commission-free investments like stocks and ETFs. However, they differ regarding investment options, fees, and features.
Interactive Brokers is the overall stronger stock trading app, offering more unique wealth-building products and services like a Bonds Marketplace, automated themed portfolios, multi-custody solution through its PortfolioAnalyst tool, and access to shortable stocks and bonds. Sophisticated investors and those looking to trade commodities are better off with IBKR.
Webull is a better choice for options traders since it offers commission-free trades, and only certain contracts charge a $0.55 fee. Beginners and casual investors looking for straightforward mobile trading and community features may also prefer Webull.
Webull vs. Robinhood
Webull and Robinhood Investing are good choices for beginner active traders in search of low-cost brokerage products and simple user interfaces. But Robinhood is a better choice for IRA investors since it offers a 1% match on investor contributions in its recently launched traditional and Roth IRAs.
Robinhood is the better option for investing in cryptocurrencies as Webull no longer offers crypto trading. Robinhood also offers a beta NFT platform and a web3 wallet.
Webull is the better platform to open an IRA since it currently offers a limited-time 3.5% IRA match for all new contributions and transfers (ends August 15, 2024). Robinhood offers an IRA match bonus, but you'll have to pay for Robinhood Gold to receive its highest rate (3%).
Webull FAQs
Webull is a mobile-focused online brokerage offering self-directed and automated trading accounts for individuals and retirement-focused investors. The minimalist platform simplifies trading for beginners while also offering a decent selection of commission-free stocks, ETFs, and options. Additional features include paper trading, margin trading, fractional shares, and futures.
Webull is an easy-to-navigate platform suitable for beginner investors interested in active and passive investing strategies. The discount brokerage offers commission-free stocks, ETFs, and options. Its educational resources are lacking compared to other online brokerages for beginners, but its community features may make up for that by allowing users to discuss trading techniques and insights.
Webull is a safe online trading platform regulated by the SEC and FINRA. It's equipped with two-factor authentication and provides up to $500,000 in SIPC insurance.
A self-directed brokerage account with Webull doesn't require a minimum deposit. Webull's robo-advisor, Smart Advisor, requires a $100 minimum deposit to open an account.
Webull offers fractional shares of stocks and ETFs for as little as $5, so investors can more easily invest in a wider range of companies. Fractional share investing is a cost-effective way to diversify your portfolio and mitigate risk.
Why You Should Trust Us: How We Reviewed Webull
Webull was reviewed using Business Insider's rating methodology for investing platforms. It examines asset availability, access, ethics, fees, and overall customer experience. Platforms are given a rating from 0 to 5.
Online brokerages offer multiple assets, trading tools, and other educational resources. Some platforms are better for more advanced or active investors, while others may be better for beginners and passive investors. Webull was evaluated with a focus on how it performs in each category.
