Webull: Best Broker for Scalping Stocks and Options
If you are looking for the best broker to scalp stocks and options, Webull could be an excellent choice. The broker provides many tools and services to help day traders and scalpers potentially make the most of the markets.
Overview
Webull provides scalpers and day traders with a long list of features.
Traders have access to three trading platforms, advanced charting tools, customizable trading layouts, Level II data with Depth of Market, hotkey support, and a good selection of investible securities.
Also available are complex options strategies, 0-DTE options, paper trading, and multiple account types. Add an ever-growing list of cryptocurrencies, and you can see why many traders appreciate Webull’s product.
Continue reading to learn more about the best trading platform for scalping options and stocks.
Platforms & Apps
For a day trader or scalper, it can be helpful to have options where platforms and apps are concerned. At Webull, you can use an advanced mobile app, a desktop trading platform, or a browser-based platform.
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12 FREE stocks valued $34-$30,600 give-away at Webull.
Open WeBull Account
Mobile App
Webull’s mobile app is very capable. Charting is excellent, and there are many technical studies. Level II data is also available (when active in the account), and the app offers full watchlist support for when you want to keep an eye on specific stocks, ETFs, or options contracts.
The mobile app also makes it very easy to invest in fractional shares and participate in the full extended hours trading session. Other standout features for scalpers include Time in Sales, market overview, and short selling.
Web App
Webull’s browser-based trading platform is quite similar to the mobile app in many ways. Most of the same features are present, but the layout options resemble the desktop trading software.
The browser-based trading platform is excellent for traders on the go. Anyone using multiple devices or needing a light app with more screen real estate will certainly appreciate it.
Desktop Software
Of all the available trading platforms that Webull offers, the desktop trading software comes with the most bells and whistles (with the mobile app being a very close second).
Available on MAC, Windows, and Linux, the desktop platform is designed for virtually every machine type. The desktop software supports multi-screen trading desks, and layouts can be modified in numerous ways to suit investors’ specific needs.
Charting and Research
Webull provides good charting and research assets that support day trading and scalping quite well. Here are some of our favorites.
As mentioned, the charting experience at Webull is top-notch. Chart timeframes can be set to specific tick counts, seconds, minutes, hours, days, weeks, and months. For scalpers reacting to price action as it unfolds, having the power to specify timeframes down to the second can be a game-changer.
Other standout charting features include chart trading, one-click indicator control, and manual pan/zoom control. In addition, you can also create layouts with multiple charts to keep an eye on correlated markets.
It is also possible to match charts up with other platform elements (like options chains, DOMs, news feeds, etc.). The ability to create layouts specific to what you are doing with the markets can save time and provide an edge, which is something scalpers always look for.
Webull also makes it easy to keep tabs on the overall sentiment in the global markets. With up-to-the-minute news updates, an evolving sector-based heatmap, and automatically populated watchlists, there are plenty of tools for traders to keep a broad perspective.
Best Trading Platform For Scalping
Many tools and services are available to day traders and scalpers at Webull.
Some of the most helpful include:
- Hotkeys
- Level II
- Screener
- Fractional Shares
- Extended Hours Trading
Rules & Regulations
If you are planning to day trade at Webull, it is good to be aware of some rules and regulations that can potentially restrict scalping and day trading activity.
Pattern Day Trader Rule (PDT)
One rule to know about is the pattern day trader rule, also known as PDT. PDT impacts margin accounts with a cash balance of less than $25,000. The rule states that no more than four round-trip day trades can be transacted within a five-day rolling period unless the minimum account balance ($25,000) is met.
Good Faith Violation
Good Faith Violations exist in cash accounts. There is no PDT in cash accounts, but the Good Faith Violation rule states that you cannot use unsettled funds to purchase securities. Unless you rotate your account balance to make day trades, Webull will begin to do it for you.
Fees & Commissions
Webull’s zero-commission pricing schedule is yet another feature that makes the broker a top choice for scalpers.
Stocks, ETFs, and options are traded at no charge, making it easier for traders to place numerous trades throughout the day without worrying about an ever-expanding commission bill.
Account Types
There are a few different account types that you can open at Webull. All of which can be used for scalping stocks and options.
If you are looking for standard brokerage accounts, you can open a margin or a cash account. For retirement accounts, there are traditional and Roth available. If you choose to trade from an IRA account, keep in mind that you’ll need to open a regular brokerage account first.
Best Broker For Scalping Pros and Cons
As you can see by now, there are many great things about Webull when it comes to scalping stocks and options. Despite all the great features, there are a few things that some may think twice about.
Here are the pros and cons as we see them.
Pros
- Good charting
- Hotkey support
- Commission-free options and stocks trading
- Multiple trading applications
Cons
- No direct access order routing
- Cryptocurrency trades come with a 1% fee on buys and sells
Open an Account
12 FREE stocks valued $34-$30,600 give-away at Webull.
Open WeBull Account
Updated on 10/10/2022.
Ben Wright is an investor, a trader, an educator, and something of an explorer. He spends his days in the markets when he is not teaching or spending time with his family. Ben writes about stockbrokers, markets, investment vehicles, promotional offers, and tools that help investors make the most of their time in the markets.
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