Founded in 2017, Webull Financial LLC is a U.S. based online broker focusing on commission free trading. They are quite popular among millennials with their free services and posing a threat to other players in the market.
Starting as a research firm and then later expanding to a brokerage firm, it still has an edge over firms like Robinhood when it comes to technical research tools and indicators.
Webull is regulated by the Financial Industry Regulatory Authority (FINRA) and the Securities and Exchange Commission (SEC). It also protects you against the loss of securities and cash held by you upto $500,000 ($250,000 limit for cash) being a member of SIPC.
• Webull is best suited for active and tech-savvy traders who look for low trading costs and a great mobile experience.
• It offers US based stocks, Options and ETFs. The best part is that stocks and options are commission free.
• No minimum deposits are required.
• If you have $2000, it provides you upto 4x day-trade power & 2x overnight buying power with margin account.
• In options trading, it supports both Level 1 (enter cove calls & cash secured puts) and Level 2 (allows and approval for long calls and long puts).
• You can easily keep track of live market data even if you are not trading by simple login.
• You can get faster advanced quotes in details when you subscribe for it. Although data from exchanges like London Stock Exchange and Hong Kong Stock Exchange are a bit expensive, most markets are available for monthly subscription with less than $10.
• Webull also offers you paper trading so that you can test the strategies without risking the real money.
As far as asset classes are concerned, we offers limited asset classes for trading:
Webull offers US stocks and the exchanges offers are NYSE, NASDAQ and AMEX. You can not trade penny stocks or OTC products.
ETFs: Exchange Traded Funds are a good option to diversify your portfolio and minimize the risk. Webull also offers ETF trading for securities listed on U.S. exchanges.
Again, you get access to the U.S. options markets. Use of leverage makes options an attractive product.
Although Webull charges no commissions for trading and requires no account minimums, you have to pay fees charged by SEC and FINRA.
SEC Fees: For selling, you have to pay $13.00 per $1,000,000 of principal, and the minimum is $0.01.
FINRA Fees: the Trading Activity Fee of $.000119 per share is charged for selling, and the minimum is $0.01 with the maximum of $5.95.
Margin Rate ranges from 6.99% for less than $25,000 to 3.99% for more than $3M.
Transfer charges are almost standard across the industry. For normal ACH bank transfer, Webull does not charge anything. Wire transfer costs $8 and $25 for deposit and withdrawal respectively in case of domestic and $12.5 and $45 for deposit and withdrawal respectively in case of international.
Webull offers platforms for Android, iOS, Windows, Mac and Chrome web browsers. It is basically for casual traders and if you are an advanced or day trader, you will find some range of tools missing like ADX and RSI, options trading tools, and day trading features. But considering the fact that it comes for free, it is a good platform to use.
The Market tab provides you insight about the market like net cash inflow to indexes, sectoral performance of the day, top gainers and losers in stocks, etc.
As far as charting is concerned, it is clean and user-friendly on both mobile and web. You will find all standard features like different chart types, technical indicators and adequate drawing tools. You can also add hotkeys, and compare multiple charts with grid layouts.
One thing unique is that you can view stock chart time lapse video replays. It offers a unique perspective and is very much educational in nature.
Webull also offers paper trading so that you can test various strategies with virtual money.
Webull is decent in terms of research and education. It has easy to use research tools for all platforms which cover 100,000 assets.
Stock Screeners are good and provide trading ideas for many stocks backing them up with the analysts’ opinion for selling, buying, or holding the asset. Also, you can see price targets, company news, and ETFs holding that stock.
Fundamental data of 5 years is offered for some stocks and ETFs that includes financial statements and fundamental ratios like PE, PB, EPS, EBIT, beta value.
Webull also offers newsfeed which includes articles linked to CNBC, Bezinga, Seeking Alpha and many others. When you click on any asset, you get links for third parties like Reuters or Yahoo Finance.
• Webull Financial LLC is a U.S. based online broker focusing on commission free trading.
• Regulated by the authorities like FINRA and SEC.
• It offers US based stocks, Options and ETFs.
• User-friendly platforms and trading tools suited for casual traders.
• Week in research and education resources.
Webull is best suited for active and tech-savvy traders who look for low trading costs and a great mobile experience.
Webull has loyal following of customers because it is user-friendly with zero commissions on US stocks, ETFs and Options.
Though the product portfolio of Webull is very limited, but if you are an active trader eying the US market, Webull’s prices are unbeatable. What are your review on this stock trading platform?
|Demat Account Opening Charges|
|Trading Acc Opening Charges||NIL|
|Trading Account AMC||No annual or inactivity fees; $75 full/partial transfer fee.|
|Demat Account AMC|