- What is Webull?
- Webull Pros and Cons
- Is Webull Safe or a Scam?
- Margin Trading
- Deposits and Withdrawals
- Trading Platform
- Customer Support
Our Review Method
- 55Brokers Financial Experts with over 10 years of experience in Stock and Forex Trading check all trading conditions, regulations and licenses, fees, spreads, platforms, customer service, and placed traders to see proposals fully to give expert opinions about Webull.
What is Webull?
Webull is a financial technology company and a Stock Broker platform that provides commission-free trading services for stocks, ETFs, options, OTC, ADRs, shares, Forex, and cryptocurrencies.
The company was founded in 2017 and is based in the United States. Per our research, Webull maintains compliance with the regulations set by U.S. Securities and Exchange Commission (SEC) and is a member of the Financial Industry Regulatory Authority (FINRA). Additionally, the broker has expanded its operations and established subsidiaries in different countries, so also operates under the oversight of ASIC in Australia, SFC in Hong Kong, and MAS in Singapore. Being fully regulated in top-tier financial destinations it operates.
Is Webull Stock Broker?
Yes, Webull is a Stock Broker that provides quite a good options for Real Stocks trading and Investment with other options including ETFs, Shares etc. The firm provides a suite of advanced trading tools, including real-time market data, technical indicators, and customizable screeners, along with quite powerful trading conditions and offerings overall, making them quite a popular and used choice among US Traders and worldwide investors too.
Webull Pros and Cons
With analysis, we have identified some benefits and drawbacks to consider when selecting Webull as your Forex broker. For the pros, the broker stands on quite a sustainable background being a reliable Broker to trade and invest with. It offers a good choice of trading software including a mobile app and a web-based platform allowing trade various financial instruments with access to advanced trading tools. Additionally, the commission-free structure is great for Investment and Investing in Shares or Stocks, also Options Trading with access to a variety of trading products without incurring trading fees, potentially saving costs over time.
For the cons, the product offerings may be more limited compared to some established brokerages. It may not provide access to certain niche markets or investment options. Though customer support is 24/7, some users have reported issues with Webull’s customer support, including delays in response and difficulty resolving account-related problems. While Webull offers educational resources, they may not be as extensive or comprehensive compared to some other brokerages with Live Trading Rooms or other sources.
|Strict regulation by US SEC||Limited trading instruments|
|Comprehensive Trading Offering, Real Stock Trading and Investment ||Conditions and offering vary depending on the entity and regulations|
|Multi-regulated broker with Funds protection up to $500,000||No comprehensive learning materials|
|Good for US Traders and Professionals|
|No minimum deposit|
|24/7 customer support|
Webull Review Summary in 10 Points
|🗺️ Regulation||SEC, FINRA, ASIC, SFC, MAS|
|📉 Trading Products||Real Stocks, Options, ETFs, OTC, ADRs, Crypto, Forex, Shares|
|💰 Stock Commission||from 0$|
|🎮 Paper Trading/ Demo Account||Yes|
|💳 Minimum Deposit||$0|
|💰 Base Currencies||USD, EUR, GBP|
|☎ Customer Support||24/7|
Overall Webull Ranking
According to our findings, Webull is a competitive stock trading brokerage platform, offering commission-free trading, advanced tools, and extended hours trading, also suitable for Advanced Traders, US Trading, and real access to Stocks and ETFs. However, you should consider the specific investment needs, preferences, and potential limitations of the platform before making a decision.
- Webull Overall Ranking is 8 out of 10 based on our testing and compared to over 500 brokers, see Our Ranking below compared to other industry Leading Brokers.
|Ranking||Webull||EC Markets||IGM Fx|
|Our Ranking ||⭐⭐⭐⭐⭐||⭐⭐⭐⭐⭐||⭐⭐⭐⭐|
|Advantages||Commission-free Trading||Trading Conditions||Trading Products|
Webull Alternative Brokers
While the firm offers reliable trading services, there are other brokerage companies in the market that might be good to consider, due to larger expansion or extra tools offered. These competing brokers may offer advantages such as a broader range of financial instruments, or more extensive educational resources to cater to global clients. So, we have compiled a list of notable competitors for you to explore:
Is Webull Safe or Scam?
No, Webull is not a scam. It is a reliable and secure Stock Broker that follows the strict rules and guidelines established by SEC and FINRA (USA) which is Top-Tier regulation, along with other licenses the broker operates through including MAS Singapore and SFC Licenses.
Is Webull Legit?
Yes, Webull is a legit and regulated broker, making it a good Broker to Invest with.
The broker focuses on following rules and regulations set by top-tier authorities, which ensures that Webull operates within established financial guidelines and provides a secure trading environment for its clients. Additionally, an advantage of the company’s legitimacy is that it does not offer services in offshore zones, emphasizing its commitment to operating within regulated jurisdictions and providing transparency to traders.
See our conclusion on Webull Reliability:
- Our Ranked Webull Trust Score is 9 out of 10 for the good reputation and services provided, as well as not holding licenses in offshore zones and its regulation by respected authorities.
|Webull Strong Points||Webull Weak Points|
|Member of the Securities Investor Protection Corporation (SIPC)||None|
|Funds protection up to $500,000|
|Partnered with the New York Stock Exchange (NYSE), NASDAQ and Cboe EDGX Exchange|
Customer Trading Protection
The broker is a member of the SIPC in the US, which provides limited protection for clients in the event of a brokerage failure. SIPC coverage includes up to $500,000, including a $250,000 limit for cash. As we found Webull also employs various security measures to protect user accounts and personal information, which is definitely a strong advantage. Overall, US Brokers maintain quite a solid customer protection level which makes thBroker a safe choice.
Various measurs include two-factor authentication for enhanced login security, data encryption, and secure socket layer (SSL) technology to encrypt data transmission, also ability to complain or submit a report to the regulatory body in US, Singapore or Hong Kong in case fraudulent activity detected.
Webull offers Margin Trading to traders on Margin accounts. The specific leverage amount provided by Webull can vary depending on factors such as the trader’s account equity and the individual stock being traded.
Per our research, if a margin account has a minimum of $2,000 in margin equity at the end of the previous business day, Webull provides up to four times the buying power for day trading and two times the buying power for holding positions overnight on the following business day. However, if a margin account has less than $2,000 in margin equity, no leverage is available.
- To find out the WeBull leverage options available for specific stocks on Webull, traders can navigate to the stock’s quotes page. On that page, they should look for a dollar icon, which can be either blue or yellow, positioned at the top right corner. This icon indicates margin details specific to that stock, allowing users to determine available options.
- Offered margin levels depend on the entity you trade too, alike vary from 1:50 for US Traders, 1:30 in Hong Kong, 1:20 in Singapore, and 1:30 in Australia.
For the WeBull Accounts broker offers two types of accounts to accommodate the needs of different traders: Individual Brokerage Accounts and IRA accounts, which include Traditional IRA, Roth IRA, and Rollover IRA. For individual accounts, Webull supports both cash and margin accounts. Traders are allowed to have one of each. If you already have one type of account, you need to create a new login to apply for the other type. Also, it is required to have an individual account before creating an IRA account.
Additionally, the company provides a feature called Paper Trading, which is an advantage for US Traders. Traders can test their strategies in a virtual environment that replicates real market conditions without risking actual funds on the stock exchange.
|Webull Advantage||Webull Disadvantage|
|Fast and easy account opening||None|
|No minimum deposit amount requirement|
|Account base currencies EUR, USD, GBP|
How to Open Webull Live Account?
Opening an account is quite a seamless task, to Login Webull you can open an account within minutes, or access Demo Account almost instantly. Just follow the opening account or sign-in page and proceed with the guided steps:
- Select and Click on the “Open an Account” page
- Enter the required personal data (Name, email, phone number, etc.)
- Verify your personal data by upload of documentation (residential proof, ID, etc.)
- Complete the electronic quiz confirming your trading experience
- Once your account is activated and proven, follow with the money deposit.
Webull provides clients the opportunity to trade and invest in US-listed Stocks, ETFs, Over-the-counter (OTC) securities, Option Trading, Cryptocurrencies, also Forex, ADRs, Shares, and more. However, the availability of specific trading instruments may vary depending on the entity, so we advise conducting good research to determine the range of options available, also if conditions vary based on your residence.
Webull offers various Cryptocurrencies trading available on Webull Pay, the range includes Bitcoin Cash (BCHUSD), Bitcoin (BTCUSD), Dogecoin (DOGEUSD), Ethereum Classic (ETCUSD), Ethereum (ETHUSD), Litecoin (LTCUSD), Shiba Inu (SHIBUSD), USD coin (USDCUSD) through Apex Crypto. However, is important to note US residents may trade specific range, so is necessary to check availability based on your residence.
- Webull Markets Range Score is 8.3 out of 10 for trading instrument selection overall which we rank as quite high also offering some unique opportunities and investment options, especially for US residents. Yet, on the other hand, many popular asset classes are not available like Futures to trade so it might be good to consider other Brokers too.
In terms of fees, we found that the broker offers commission-free trading for stocks, ETFs, options, and cryptocurrencies, which is quite a competitive offering overall. This means that there are no trading fees or commissions charged by Webull for executing trades in these financial instruments.
However, there may be certain fees and charges associated with specific activities or services on the platform. These can include fees for certain account actions, such as wire transfers, account transfers, or paper statement requests. Margin trading may also involve interest charges on borrowed funds.
- Webull Fees are ranked low or average with an overall rating of 7.9 out of 10 based on our testing and compared to over 100 other brokers for all fees applied, some deposit methods are free of charge and other may apply some charges. See more comparison details below:
|Fees||Webull Fees||EC Markets Fees||IGM Fx Fees|
Based on our test trade, as a commission broker, Webull does not charge spreads on trades and commission mainly starts from 0$ with Stocks, ETFs, and Webull Options fees are commission free. Also there are various Investment promotions and discounts, also availability of Free Stocks when you sign up with Investment Products which is definitely a plus.
So the trading costs charged by the Broker are built into the commission, also offering Fraction trading and investment programs based on Investment Plans. However, fees and spreads are determined by the market and may vary depending on specific financial instruments being traded. Alike, the average spread of the widely traded EUR/USD currency pair is 1.0781.
- Webull Commission is ranked good with an overall rating of 8.5 out of 10 based on our testing comparison to other brokers. We found fees are rather attractive since built into the commission charge, offering some good costs and Webull Promotion to Invest, also might be more transparent and suitable for professional trading also beneficial for various trading strategies.
|Asset/ Pair||Webull Commission||EC Markets Commission ||IGM Fx Commission|
|Fractional Shares||From 5$||No||No|
|Options Fees||From 0$||From 0$||From 0$|
|ETFs Fees||From 0$||From 0$||From 0$|
WeBull Trading Hours
For trading hours you can access Extended Trading Hours just by simple click on WeBull App Include After Hours so access Trade during Market Open or to trade premarket on webull. Allowing to trade off market and during market hours too, yet conditions may vary based on the instrument you choose.
Deposits and Withdrawals
The broker offers several funding methods to deposit funds into your trading account. The specific funding methods may vary based on your location and the regulations in your country. Some common options provided by Webull include Bank Transfers, Wire Transfers, ACH Transfers, and Mobile Check Deposits.
- Webull Funding Methods we ranked good with an overall rating of 7.5 out of 10. Fees are low, and also you can benefit from various account-based currencies. Also, US Traders mainly will be able to use Bank Transfers only so good to check these conditions too.
Here are some good and negative points for Webull funding methods found:
|Webull Advantage||Webull Disadvantage|
|Multiple account base currencies||Limited payment options|
|Fast digital deposits|
|Industry-standard security measures|
Webull Minimum Deposit
The broker offers great options with no minimum deposit requirement for opening an individual cash account. This means that you can start trading on Webull with any amount of funds you choose.
Webull minimum deposit vs other brokers
||Most Other Brokers
As we found, there may be certain restrictions on withdrawals, fees, or processing times associated with withdrawals. For example, depending on your location and the specific financial institution involved, withdrawal processing times can vary, ranging from a few business days to longer periods. Even though it is not a drawback from the Broker but rather follows of regulation, is necessary to verify withdrawal conditions carefully too.
Withdraw Funds from Webull
Here are the typical steps on how to withdraw funds from your trading account, also all the processes available in your Trading Account area along with some guides available in the FAQ section:
- Login to your account
- Select Withdraw Funds’ in the menu tab
- Enter the withdrawn amount
- Choose the withdrawal method
- Complete the electronic request with necessary requirements
- Confirm withdrawal information and Submit
- Check the current status of withdrawal through your Dashboard
Analysing WeBull Trading Software broker provides a comprehensive trading platform for its users. The primary trading platform offered by Webull is a desktop platform also available on the web. Additionally, it offers a mobile trading app that is available for both iOS and Android devices.
Webull’s trading platform is known for its user-friendly interface, advanced charting capabilities, and real-time market data especially suitable for easy Investment and Stock Trading, with good monitoring and potrfolio management.
- Webull Platform is ranked good with an overall rating of 8.5 out of 10 compared to over 500 other brokers. We mark it as good since it offers its proprietary desktop trading platform.
|Platforms||Webull Platform||EC Markets Platforms||IGM Fx Platforms|
Webull Desktop Platform
According to our findings, the Webull desktop platform offers traders numerous advantages, including advanced charting capabilities with a wide range of technical indicators and customization options, real-time market data for timely decision-making, customizable layout for personalized trading setups, fast and stable performance for quick order execution suitable for various strategies, yet important to note some limitations in place too, alike hedging not available in the US.
These features combine to provide traders with a user-friendly desktop trading experience, empowering them to analyze markets, make informed decisions, and execute trades efficiently.
The broker’s customer support is available 24/7, allowing users to reach out for help at any time. It provides support via email, live chat, and phone, offering multiple options to suit different preferences and urgency levels. While some traders have reported positive experiences with their customer support, others have expressed dissatisfaction with response times and problem resolution.
- Customer Support in Webull is ranked good with an overall rating of 7 out of 10 based on our testing. We got fast responses, however, we saw some comments from traders mentioning the lower quality of customer support.
See our find and ranking on Customer Service Quality:
|Email, live chat, and phone||Both positive and negative reviews from traders|
|24/7 customer support|
At the last point for Trading Education, the broker offers a range of educational resources including articles, tutorials, videos, and webinars covering various trading topics such as market analysis, technical indicators, trading strategies, overview of Investment Programs and Plans and more.
While the learning materials provided by Webull are beneficial for traders seeking financial knowledge and insights, some users have expressed that the educational materials may not be as comprehensive as those offered by specialized educational platforms or other brokers. Therefore, traders who require more extensive resources may consider additional materials from alternative sources.
However, since the Broker focuses mainly on advanced and Professional traders the company would provide good research and tools, but education is ultimately basic since Broker offers more advanced trading instruments.
- Webull Education ranked with an overall rating of 7 out of 10 based on our research. We recommend seeking educational resources from established and reputable brokers since Webull education is rather limited and might not be very suitable for beginning traders.
Webull Review Conclusion
In summary, Webull is a reputable Stock brokerage that offers a range of features and services for traders suitable for various traders including beginners or advanced trading. The broker is heavily regulated and authorized by various Top-tier financial authorities standing on the strong establishment and background, adding an element of trust and security for traders including US Traders. It provides a user-friendly trading platform with advanced charting capabilities, real-time market data, and customizable layouts.
The firm offers advantages such as good Investment Opportunities and an easy process to buy Stocks or Shares, commission-free trades for some instruments based on commission as a main trading fee, extended hours trading, and 24/7 customer support. Yet, there are some limitations too like limited trading products, potential issues with customer support, and a relatively low range of educational resources.
Based on Our findings and Financial Expert Opinions Webull is Good for:
- Real Stock Trading
- Fractional Stocks Trading
- Free Stocks
- Traders from the USA
- Singapore Trading
- Traders from Hong Kong
- Australian traders
- Currency trading
- Advanced traders
- Professional trading
- Access to Stocks and ETF trading
- STP/ECN execution
- Commission based trading
- EA/Auto trading
- Good trading tools