Webull Review

Webull is a growing fintech company that leverages technology to improve the investing experience. On their commission-free trading platform, you can trade stocks, options, mutual funds, ETFs, ADRs (foreign stocks), invest in retirement accounts, and more.

They also have an exciting signup promotion where you can get two free stocks just for opening and funding a brokerage account. Not bad!

In this Webull review, I’m going to dig deep into the up-and-coming investing platform. Keep reading to learn everything you need to know about the services that Webull provides, the powerful analysis tools that you’ll have access to, and the pros and cons of working with them.

Let’s go!

About Webull

Webull (pronounced We-bull) is a part of the growing trend of low-to-no fee online investing platforms. Founded in 2017, the company’s official name is Webull Financial LLC, and its headquarters is located right on New York City’s Wall Street—the finance capital of the world.

Webull has built lots of momentum lately due to its zero-commission structure, attractive sign-up incentives, robust trading tools, and sleek user-friendly design.

While Webulll is particularly useful for active traders or more technical traders who use limit orders or stop limits, because of its commission-free stock trading, it’s also a great trading platform for beginners.

Webull Services

With that in mind, let’s dive into the main services that they provide to give you a better idea as to whether the service is right for you.

Individual Brokerage Account

With an individual brokerage account (which is essentially the same thing as a stock trading account), you can trade thousands of different US stocks, options, ETFs, and ADRs for free on Webull’s platform.

Webull offers some pretty cool features for trading stocks that I do not see elsewhere. Here are a few that jump out:

  • Full Extended Trading Hours. As a customer, you can make pre-market trades (from 4 a.m. to 9:30 a.m. ET) and after-hours trades (from 4 p.m. until 8 p.m. ET). These off-hours trading windows are not available to individual investors on sites like Fidelity and Schwab. If you’re the kind of investor whose mind never sleeps, this may be an attractive feature you won’t want to miss out on.
  • Advanced Trading Platform. Webull’s stock trading platform seems to be more advanced than the typical online investing firm. You’ll have access to powerful research tools and real-time market data, which can help guide the investment decisions you make for funds on your watchlists. In fact, Webull uses at least 44 technical indicators and 12 charting tools, including RSI and MACD, to analyze market conditions.
  • Access to Webull mobile and desktop apps. Make day trades from any connected device via robust mobile and desktop apps, which we’ll detail a little bit later.
  • Open to international investors. At the time of this writing, brokerage accounts are available to residents of the United States, China, Japan, India, the Philippines, and Malaysia.

Webull Options

You can trade options on Webull without any commissions or contract fees—just as you could expect from trading regular stocks.

There’s one thing that really makes Webull Options trading stand out: They’re the first online investment platform I’ve reviewed that doesn’t charge a fee for options contracts, which is pretty awesome.

This means you won’t pay a commission (which is pretty standard) or an options contract fee (which is unheard of, as you can see from their competitor’s fee chart).

Bottom line? If you’re an advanced investor looking to explore option trading, you’d be hard-pressed to find a more cost-effective solution than Webull. It literally costs nothing!

Webull Trading App

As a tech-driven platform, all transactions can be performed on the Webull app. Android users can download the investment app in the Google Play Store, where the app is impressively rated at 4.3 stars (out of 5). In the App Store, the app is rated even higher at 4.7 stars (out of 5)

They even have desktop and web browser versions available for both Mac and Windows.

Webull IRA

If you’re investing for the long term (which I highly recommend), you can open a Webull IRA account. IRA account holders enjoy the same low-fee structure and powerful trading tools that you’ll get with a brokerage account. The only catch is that you can’t withdraw your funds until you’re ready to retire.

Paper Trading

Paper trading is a way to practice stock trades without investing in actual money. Webull offers paper trading to all account holders at no cost. If you’re new to the stock market and want to practice day trading, for example, without risking your emergency savings, this is a great way to do just that.


You probably get the gist by now that Webull doesn’t charge fees on trades, and I imagine that the vast majority of their customers will not have to pay any fees whatsoever.

Well, How Does Webull Make Money Then?

The company does charge a fee for margin trading, and they also have fees on a few other services, like wire transfers. But get this: The more money you trade with them on margin, the lower the fees you can expect to incur (but, caveat emptor, the higher the risk).

For debit balances up to $25,000, the margin rate is 6.99%. This rate declines as the amount debited increases. For example, if you borrow from $500,000 to $1 million from them, the fee drops to 4.99%.

Taking a step back, margin trading is a very advanced tactic that I don’t recommend dabbling with unless you really know what you are doing. This isn’t something you want to jump right into on a whim unless you literally have money to burn.

If you need to wire money in or out of your account, or to an international account, you will be looking at various fees, which Webull passes onto you from their apex clearing partner. ACH transactions, however, are completely free. For more information on Webull’s costs, you can check out their pricing schedule.

Getting Started

To sign up for a Webull account, click on the Get Started button in the middle of your screen or on Sign Up in the top right-hand corner of your browser.

Then enter your email address, password, and the verification code that they’ll send to your inbox.

After that’s done, confirm your country of residence, first name, last name, gender, marital status, number of dependents, Social Security number, and citizenship status. You’ll also have to enter your phone number and home address.

Next, enter your employment status and tell them about the type of job you have (or don’t have).

On the next page, Webull asks more personalized questions about your investment experience, investment goals, net worth, and risk tolerance. They also ask how important liquidity is to you.

Next, it’s time to verify your identity and upload a picture of your passport, driver’s license, or state ID. If you don’t have one of these items handy, you’ll have to circle back at a later time to complete the sign-up process.

Finally, Webull asks you some standard regulatory questions.

After confirming those details, pick the type of account you want to open. By default, it looks like they preselect a Margin Account. Assuming you’re just dipping your toes in the water, be sure to switch that to a standard Cash Account.

At the very last step, all you have to do is e-sign the application, and you’re good to go!


In rare form, Webull has two exciting promotions going on right now:

Two Free Stocks

If you open and fund a new brokerage account, you can get up to two free stocks. Awesome!

The first stock is awarded just for opening up a new account. The stock is randomly selected and valued from $2.50 to $250. The second stock is given to you once you fund your brokerage account with at least $100. This second stock will also be selected at random, but the value range is higher, running from $12 to $1,400. How cool is that?

If luck is on your side, you might end up with a cool $1,650 just for opening and funding an account.

It appears that this free stock promo might end May 30, though, so you may want to act soon if this is something you want to take advantage of. There’s also a chance that they’ll extend or modify this promotion, so who knows?

IRA Signup Bonus

New IRA account holders can get a free Amazon gift card just for opening and funding an account. You’ll need to deposit at least $5,000 to qualify, and you can earn up to a maximum of $330 if you deposit $100,000 or more.


Webull is a registered broker-dealer with the Securities and Exchange Commission (SEC). This means that they’ve undergone a rigorous vetting process. And, in order to remain compliant, they’re required to use state-of-the-art cybersecurity tools to keep your account safe.

They’re also a member of FINRA and the Securities Investor Protection Corporation (SIPC), which are kind of similar to how banks are FDIC-insured. As a result, Webull’s customers’ assets are covered for up to $500,000 in investments and up to $250,000 for cash investments. That sure makes it easier to sleep at night.

Webull Customer Service

If you need help or have questions at any time, you’re in luck. Webull’s customer support team is available 24/7. This round-the-clock support feature is one that most of their competitors simply cannot match. There’s also a handy self-support resource platform if you’re the kind of person who’s good at figuring things out on your own.

To contact Webull, give them a call at 1-888-828-0618 or send them an email at [email protected].

Pros and Cons


  • Powerful mobile and desktop apps make it easy to manage your account from anywhere
  • No fees on stock trades
  • Even options contracts are free
  • Very attractive brokerage account and IRA sign-up bonuses


  • A newer company without a much-established history
  • No brick-and-mortar locations
  • Might not be the best platform for buy-and-hold investors

Alternatives to Webull

As I mentioned earlier, Webull’s main competitor is Robinhood. However, a number of major financial institutions have also jumped on the no-fee bandwagon, including:


Is Webull legitimate?

I hear this question a lot. Yes, Webull is legit. They are a member of FINRA and SIPC, and they’re a registered broker-dealer with the SEC. This means your funds are protected and the company has been thoroughly vetted.

Is Webull better than Robinhood?

I touched on this above. I can’t say that Webull is better but they are currently offering a more attractive sign-up bonus. They also have 24/7 customer support, whereas Robinhood’s support is available during routine business hours.

Can you make money on Webull?

Yes. You can make money on Webull. But as is the case with any investment, you can also lose money. It all depends on how the market is doing and which funds you invest in. If you are asking this question, you may want to take a step back and read up on my investing tips for beginners.

Is Webull good for beginners?

This is a tricky question, but probably not. If you are completely new to investing, then you probably don’t need the advanced trading tools that Webull offers. Also, the free trade incentive really only adds up if you are frequently buying and selling stocks, which beginners should most definitely not be doing.

Does Webull offer fractional shares?

Yes, Webull Webull offers fractional shares for most stocks and ETFs available on its platform. Learn more about Webull fractional shares.

Is Webull Right for Me?

If you’re a seasoned trader that wants to avoid paying fees at all costs, then yes, Webull is probably right up your alley. Their no-fee platform is hard to beat and their mobile apps and desktop platforms are top-notch.

On the other hand, if you’re a long-term investor or a beginner, you might be better off working with a more established institution, like Schwab or Vanguard, for example. That’s because you’re less likely to really see the value in free trading if you are only making occasional deposits to the same funds over time.

Whichever direction you choose, be sure to do your research, and only invest in things that you understand and are comfortable with. I don’t care if a new company pops up tomorrow and offers you $500 in cash to open an account. If you aren’t careful about how you invest, you can easily lose all of that money if you aren’t investing responsibly.

Here’s to forging your own path to financial freedom. If you can pick up a couple of free stocks along the way, why not?

Leave a Reply

Your email address will not be published. Required fields are marked *