Webull Review: Best Platform For Active Traders?

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Webull Review

Investing Simple is affiliated with Webull. This relationship does not influence our opinion of this platform.

A number of online brokerages and investing apps have popped up over the last few years. As a result, it has become more and more difficult for investors to decide which one is best for them. Some of them offer great platforms to their users while others being frustrating and unbearable to use.

Webull is a new platform that has great potential for being the next big free trading platform. Since the app offers a lot of features above and beyond Robinhood, it is growing in popularity quickly. This app has not been talked about as much as platforms like Robinhood, but it should not be overlooked. In this review, we will outline our experience with Webull as well as the strengths and weaknesses of this platform. We have found that Webull is one of the best free investing platforms available to investors today.

Webull Review: Platform Highlights

  • 100% commission free trading.
  • Free short selling.
  • Free after hours/extended hours trading.
  • Easy access to margin.
  • Research oriented platform with many advanced features.

If you sign up via our link, you will get a free stock! You don’t need to fund the account to get the stock, you just have to open it.

Click here to open an account with Webull!

The Webull stock trading app is simple, fast and secure.

Webull Investing App

What Is Webull?

Webull is a mobile trading platform designed to save you money and get you the trading data you need. This is accomplished by offering completely free trading of stocks and ETFs. By offering real time data and the most current quotation prices, Webull provides traders with a sufficient platform for trading directly on their phone. Since Webull is a data oriented investing platform, it is designed for the research oriented active trader. As a result, it is not a great fit for long term investors.

Where other investing apps are often “dumbed down” and oversimplified, Webull offers access to more advanced tools on the platform. As a result, it might be too complicated for a complete beginner. Some of these features include virtual trading simulators, financial calendars, rating agency reports, technical indicators and after hours trading. As mentioned earlier, for some, this is a pro! For others, this is a con.

If you are completely new to the stock market and investing, Webull is probably going to be too complicated for you. To show you a comparison, it might be like trying to take a sip of water from a fire hose. For those who have already gained investing experience and used competing platforms like Robinhood, Webull could be a breath of fresh air. This is because many of the features missing from Robinhood have found a home on the Webull investing platform.

If you sign up via our link, you will get a free stock! You don’t need to fund the account to get the stock, you just have to open it.

Click here to open an account with Webull!

What Are The Features Of Webull?

Real Time Market Data: Webull offers real time market data for all US markets. This ensures you are viewing consistent real prices in real time, making sure you are making the right investment decisions based on accurate data. This feature is extremely important for active traders who need price accuracy down to the penny.

You may also have access to real time global market data on the Webull platform. There is a monthly fee for this feature. This is charged on a monthly subscription basis and the fee differs by market. In other words, this is one of the ways that Webull is making money from this free trading service they are offering.

The Webull stock market trading app allows you to see real time market data of the companies you follow.

Webull Real Time Market Data

News Stream: Webull offers real time financial news through the news stream feature. Through the news stream, you will find articles from Reuters and Bloomberg and other financial institutions are available. You will find that this can be extremely helpful in getting the most up to date news articles and possibly making important trades on breaking news for specific companies. This feature provides a single location to view financial news as well as providing a mixed collection of high quality content giving you a variety of different points of view on specific topics.

The Webull stock trading app gives you an updated news stream with the top stories about the companies you are following.

Webull News Stream

Virtual Trading Simulator: Webull offers a virtual trading simulator on their platform in order to learn new investing strategies without any risk. This is a valuable feature if you are trying out new trading strategies you’ve never used before. This is because it can be helpful to test out a simulated portfolio before risking any real money. Anyone who is new to investing should first start out by using a trading simulator. As a result, you can gain experience and knowledge without taking any real risk. Webull is one of the first platforms to offer a built in trading simulator!

Agency Ratings: Another feature offered by Webull is the ability to track and see professional analyst ratings on certain stocks. Rated stocks will have a number of ratings by professional rating agencies and firms. They will rank the company as a buy, sell, or hold and sometimes ratings in between.

The screenshot below shows a company with 40 analyst ratings as well as the trend over time. Institutional analyst ratings can give you an idea of what Wall Street is saying about a certain company or fund.

The Webull stock market investing app gives you analyst ratings to help you determine whether or not you want to invest in a particular stock.

Webull Analyst Ratings

Smart Alerts: Webull gives you the ability to set a variety of smart alerts that will notify you if a specific holding hits a defined price, moves a defined percentage, or has reached a specific volume level. For example, these smart alerts can provide a system for executing trades at a certain price level or after a series of volume or price changes. Tools like this allow traders to be more effective and efficient when trying to execute trades over a period of time.

Financial Calendar: Webull offers a financial calendar that keeps you informed on upcoming financial news for the month. The financial calendar tools keeps track of upcoming IPOs, earnings releases and which companies are about to pay out dividends. As a result, this tool provides a consolidated calendar of events, keeping you informed on upcoming market events all on one screen.

Margin Trading: Webull offers easy access to margin trading on the platform. However, you must have a minimum account balance of $2,000 to be approved for margin trading. When trading on margin, you are virtually pledging the assets within your account as collateral to borrow money and invest it in more securities. Webull will lend you these funds for a fee at a specific interest rate. However, if your account drops below $2,000 you run the risk of a margin call and forced liquidation of your funds. As a result, margin creates leverage which could increase potential returns, but carries significant risk as it could also amplify losses.

Through the Webull app, you can utilize margin. Here are the margin rates for investing with Webull.

Webull Margin Rates

Technical Indicators: Webull prides itself on the usability of its platform for serious traders. Since many traders use technical price indicators to indicate ideal buy and sell levels, they have fallen in love with the Webull platform. The platform gives you access to 22 technical indicators for developing trading strategies.

Here is the list of technical indicators on Webull…

  • Moving Average (MA)
  • Exponential Moving Average (EMA)
  • Bollinger Bands (BOLL)
  • IC
  • Volume (VOL)
  • Moving Average Convergence Divergence (MACD)
  • KDJ
  • Relative Strength Index (RSI)
  • Rate Of Change (ROC)
  • Displaced Moving Average (DMA)
  • Fast Stochastics (FSTO)
  • Keltner Channels (KC)
  • Aroon Indicator (AROON)
  • Trend Strength Indicator (ADX)
  • Average True Range (ATR)
  • Commodity Channel Index (CCI)
  • CC
  • Detrended Price Oscillator (DPO)
  • Ultimate Oscillator (UOS)
  • Directional Movement Index (DMI)
  • Heikin Ashi
  • Money Flow Index (MFI)

If you sign up via our link, you will get a free stock! You don’t need to fund the account to get the stock, you just have to open it.

Click here to open an account with Webull!

As you can imagine, this can be quite overwhelming for a complete beginner. Webull is not a trading platform that is designed for beginners. The ideal user for Webull is someone who is actively trading with some prior experience with trading and technical analysis. That being said, if you are brand new to the stock market, you should consider a more beginner friendly app like Robinhood or M1 Finance.

After Hours Trading: Webull offers after hours trading completely free. As a result, you can trade from 4 am to 8 pm, giving you more flexibility when placing trades. In comparison, Robinhood also offers extended hours trading, but is limited to a shorter window from 9 am to 6 pm.

Commission Free Short Selling: Webull is one of the only platforms that allows you to place long and short trades commission free. Short selling will have to take place in a margin account, however, but you will not pay any commission when placing these trades.

What Are The Webull Fees?

All buys and sells on Webull are 100% free, including short selling!

There are fees charged by the SEC and FINRA for each trade. These fees are charged on every trade across all brokerages. The SEC charges a $13 fee on $1 million of principal (sells only) with a minimum fee of $.01 and FINRA charges $0.000119 per share (sells only), a minimum of $.01, and no greater than $5.95.

Fees For Stock Transfers: ACATS Incoming: $0; ACATS Outgoing: $75

Account Types: Individual taxable brokerage accounts, eligible margin accounts

Requirements And Customer Service: You must be at least 18 years of age and have a valid social security number to open an account with Webull. It is important to note that Webull is one of the only free platforms that offers customer service over the phone as well as through email and a live chat feature.

How To Open A Webull Account

  1. Download Webull App and sign up for Webull. Use this link to get a free stock!
  2. Tap “Trade” tab to start opening account.
  3. Choose your account type.
  4. Provide your information.
  5. Accept the Terms and Conditions.

Once you have submitted your application, you will be notified of approval by email approximately within one hour. If you use the link above, you will get your free stock as soon as your application is approved.

Webull also has a phone number so you can speak to an actual human being about your account. One common complaint with Robinhood is the lack of customer service and the inability to speak to someone about your account. With Webull, you have the option to call them directly if you do not understand something or need a question answered.

Is Webull Safe For Investors?

Webull is a member of the Securities Investor Protection Corporation (SIPC), which insures investor’s accounts up to $500,000 ($250,000 in cash). They also have additional coverage under its clearing firm Apex. The plan provides an additional $150 million in coverage for securities and cash, subject to a maximum of $37.5 million for each individual investor’s securities ($900,000 in cash). In other words, it is just as save as any other brokerage out there.

Some investors are also suspicious of the free stock offering by Webull. Naturally, you might be wondering what they gain from this. As a company, Webull is looking to acquire more users and gain market share in the brokerage industry. They are trying to compete with some big players like Robinhood. It is common for brokerages to offer an incentive to people who sign up for new accounts in order to gain market share and build a user base.

Webull makes money through a few different avenues. One of these avenues is offering paid subscriptions to market quotations. For example, if you wanted access to TST Level-1 you would pay them $4.99 a month or $53.99 a year. They know that a certain number of users will be interested in this service, so it is cost effective for them to offer a free stock in order to acquire new customers.

You can read the BrokerCheck report for Webull here.

Webull Strengths

  1. Advanced charts and research tools.
  2. Free short selling and extended hours trading.
  3. News stream.
  4. Free trading simulator.
  5. Phone and live chat support.

Webull Weaknesses

  1. Web-based platform is currently limited to live quotes. Webull is aiming to add trading to their website in 2019.
  2. App design needs improvement. It can feel complex and overwhelming to use.
  3. Not for beginner investors. Many of the features are for more experienced traders.
  4. No retirement accounts.
  5. No prebuilt portfolios.

How Webull Compares To Others

Webull vs Robinhood

Both of these brokerage accounts have a similar approach to a commission free brokerage, but both have a variety of different features. Webull is still relatively small with just over a million downloads on Android, but is growing significantly. That being said, we believe Webull has a stronger platform than Robinhood for the active trader. The variety of features such as research tools, technical indicators, and free after/pre market trading puts it above Robinhood in user experience. Robinhood may be a good platform for someone who is a beginner investor and wants a simple and easy to use platform. Both platforms are free so you can give both a try and see which one meets your needs.

Webull vs M1 Finance

M1 Finance and Webull are both very powerful investing platforms. A decade ago these types of platforms would only be offered by the best and most advanced investment companies. Now with so many platforms available to the retail investor, people have a wide variety of options to choose from.

We believe M1 Finance and Webull offer two different services that each meet its own target user. In most cases, M1 Finance is a good platform for someone who is investing for the long term and using a relatively passive investing approach. Whereas Webull fits best with more of an active trading style. Investors who use technical indicators and those who need to make more frequent trades would be better off using the Webull platform. In the end, both platforms are free so you can always give both a try and see which is best for you!

Webull vs Stash

The research tools and number of investments available on Stash are quite limited. You will have more options for research tools and investments with Webull or M1 Finance. On top of that, these platforms are free whereas Stash is charging $1 a month and $2 a month for retirement accounts. In our opinion, there are better options out there than the Stash investment platform.

Webull vs ETrade

ETrade is a great platform for a variety of different investors and traders. We believe ETrade may be one of the most dynamic platforms available today. As a full service brokerage, there are many different approaches you can take when investing with ETrade. We believe it is a great platform for an experienced investor.

When compared to Webull, we believe the two platforms have many similarities. Both are great platforms for traders and for experienced investors. Webull has the advantage with completely free trading fees. This could be a game changer, especially for investors who are fee sensitive or those who have smaller accounts.

Webull vs Acorns

Acorns and Webull are both offering completely different services to the potential investor. Webull offers an intermediate to advanced trading platform geared towards the research oriented active trader. Acorns is offering an automated investment solution to those who are forgetful or have a hard time saving money. If you fall into that category, Acorns might be a better fit for you. If you are interested in researching investments and building your own portfolio, Webull is likely a better fit for you.

Webull Review: The Verdict

In conclusion, Webull is an excellent platform for active traders who would like access to a moderately advanced trading platform without paying a monthly subscription or commission fees on trades.

The features offered by Webull such as technical indicators, price alerts and commission free trading all benefit the active trader. Through the use of these features, the amount of research you can perform on the Webull platform is also a tremendous advantage.

Webull would not be an ideal platform for a beginner investor. This is because most of the features on the platform may be overwhelming for someone just starting out. Webull does not provide any prebuilt portfolios like many other roboadvisors do, such as M1 Finance and Betterment. As a result, Webull may not be an ideal platform for a passive investor, but they are an ideal trading platform for the on the go trader.

If you sign up via our link, you will get a free stock! You don’t need to fund the account to get the stock, you just have to open it.

Click here to open an account with Webull!

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