Webull charges the lowest brokerage fees, but does not sacrifice on sophisticated trading tools. Although it has low fees, it is not the best brokerage for beginners.
Webull Brokerage is a great choice for mobile-first casual investors. The brokerage offers a user-friendly interface that works on both mobile and desktop, as well as a wide range of tools for active traders. Its relatively poor educational content could leave novice traders in the dust, as well as its limited access to common asset classes.
Pros & Cons
Pros
- Low prices
- Easy-to-use platform.
- Advanced tools
- Access to cryptocurrency
Cons
- There are no mutual funds.
- We provide very little educational support.
Webull shines
Low cost: Webull is a top-rated broker in terms of cost, offering stock trades at no charge, $0-commission options, and no per contract fee.
Advanced tools: Webull was designed to be mobile-first friendly, but it doesn’t mean that Webull isn’t capable of providing advanced screener and charting tools.
Access to cryptocurrency: While few brokerages provide direct access to cryptocurrencies for trading, Webull currently offers 11 such options.
Appeal to a wide audience: The company appears to have borrowed some ideas from Robinhood and other modern innovators, such as Robinhood, who appeal to casual and new investors. They offer a simple, clean desktop interface and great mobile experience. Webull is a great choice for advanced active traders. It offers detailed charting, advanced orders and market data from Nasdaq at Level II. This is all packaged in a user-friendly, elegant platform.
Webull is not a good fit.
Webull does not offer mutual funds.
Webull’s educational support is still limited. Although Webull is making efforts to provide more educational content than other established brokerages, it is still not as extensive.
Cash management: Webull does not offer interest on uninvested money, has no default cash fund for uninvested funds, and does not have any ancillary or cash management products to compensate for this (as some brokers, such as Ally Invest, Robinhood, etc.). This means that any cash left uninvested will be inactive and have no chance of growing. However, default sweep interest rates can be as low as 0.01% so the line between offering interest and not is very thin in today’s environment.
Webull is the best for
- Intermediate investors
- Active traders.
- Options traders.
- Cryptocurrency traders
Read SogoTrade Review on Google Site
Webull ratings
Minimum 5 stars
Webull does not require a minimum account.
Stock trading costs: 5 stars out of 5.
Webull is a top choice for cost-effectiveness, as there are no minimum accounts and you can trade stocks, exchange-traded fund, and American depository receipts without any fees.
Options trades: 5 of 5 stars
Webull is one of the few brokerages that offers free options trades. Customers don’t pay a per trade commission or a per contract fee.
Account fees: 3 stars out of 5
Webull’s transfer fees are one fee that you should be aware of. A $75 transfer fee will be assessed if you are transferring all your assets to Webull or just a few. You won’t have to pay an annual or inactivity fee from Webull.
Tradable securities 1 out 5 stars
Webull does not have access to common securities such as bonds and mutual funds, despite a strong offering for active traders. This could make it more difficult for investors who want to save for retirement through an IRA to diversify across assets that are typically found in a retirement portfolio.
Crypto availability: 5 of 5 stars
Webull allows investors to trade 11 cryptocurrency. It’s important to remember that users cannot send or receive coins from their Webull accounts at the moment. If you wish to withdraw, your only option is to trade for USD. This doesn’t impact Webull’s crypto score compared to other stock brokerages but it is one reason Webull didn’t score as high on our list of the top crypto platforms and exchanges. Webull offers cryptocurrencies such as Bitcoin, Ethereum and Bitcoin Cash.
No-transaction-fee mutual fund: Not rated
Webull does NOT offer mutual funds.
Trading platform 5 out of 5 stars
Although new investors may be overwhelmed by the sheer number of screens, charts, and indicators available, anyone with a bit of experience will quickly learn how to use the interface.
This is exactly where Webull excels. Webull combines the minimal look and feel that the mobile-first generation is used to with the advanced capabilities of a more sophisticated product. Webull also has the unique ability to create a platform that bridges intermediate and advanced trading. This allows users to move along their investment journey with more experience.
Mobile app 5 out of 5 stars
Webull’s mobile app is highly rated, which is a good thing considering that it targets mobile-first customers. The app offers advanced features such as charts and indicators. Users can also access paper trading accounts and voice commands.
Research and data: 3 of 5 stars
Webull does not offer a lot of third-party research. However, it provides news, research, and analysis from reliable sources. This includes Level 2 market data powered via Nasdaq TotalView (though you will need to pay an additional subscription after a 3-month free trial), Reuters and Lipper.
Customer Support Options: 4.5 stars out of 5.
Webull provides 24/7 customer service via email and phone.
Are You a Webull customer?
There may be better brokers for beginners or those who have yet to create a long-term, well-diversified portfolio. Webull is a great choice for intermediate traders who are interested in active trading and those looking to enhance their trading skills with advanced technical analysis.
