WeBull Minimum Investment (Initial Deposit) To Open Account

2020 WeBull minimum investment to open brokerage account or ROTH IRA. WeBull minimum balance and initial deposit amount requirement.

WeBull Minimum Investment Amounts

WeBull minimum investment to open brokerage account $0
WeBull minimum amount to open brokerage margin account $2,000 in cash and/or securities
WeBull minimum initial deposit to open ROTH IRA, Traditional IRA, Simple IRA, or SEP IRA not offered
WeBull minimum balance requirement for brokerage or IRA none


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WeBull Review

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What is Webull?

Webull is a relatively new app-based broker to enter the scene, whose main selling point is their $0 commissions. This article will offer a brief overview of both the pros and cons of opening an account with Webull.

First: What Webull Does Well

Free Trades

Trading is always commission-free at Webull, except for the relatively small regulatory and exchange-mandated fees (which usually amount to no more than a few pennies per trade). You also don’t need to meet any minimum account requirements or maintenance fees at Webull in order to qualify for the free trades; you just need to open an account.

Stock Details

Webull provides the basic company and stock information you’d want to see before making a trade, such as news headlines, financials, analyst ratings and estimates, and better than average charting.

Stock Alerts

A neat feature of Webull that sets it apart from other free brokers is the ability to set custom push notifications on the app based on a stock’s price or volume. This is helpful because if you have been eyeing a potential investment but want to wait for a better price before pulling the trigger you can have the app automatically notify you when it drops to a more attractive level. Webull also has a customizable financial calendar, which tracks important financial dates for stocks in your portfolio, such as earnings announcements and dividend ex-dates.

Virtual Trading Tool

Another great and unique feature of Webull is their virtual trading tool, which allows you to place trades in a “practice account” (within your account) where no actual money is involved. This is good for new investors who are still nervous about trading their hard-earned money and want to do a practice run first that’s as close to the real thing without actually risking any money.

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Next: Where Webull Has Room to Improve

Investment Offerings

Probably the biggest disadvantage to trading with Webull is their very limited range of securities to invest in. They support most U.S.-listed stocks and ETFs but that’s about it. You currently cannot trade foreign stocks, penny stocks, options, mutual funds, futures, or bonds on Webull. Considering that Webull is still very new to the trading scene, and that their low-cost competitors all offer more investment options, it would not be surprising if they announced plans to offer more in the future as well.

Other Fees

We already pointed out that Webull doesn’t charge any commissions or account maintenance fees, but you may be asking if there are any other fees. There are some other fees to be aware, but these are typical with any broker. Wire transfers will cost you between $8 and $45 at Webull (but ACH transfers are free) and there would be a $75 fee if you ever wanted to transfer your Webull portfolio to another broker.

Trading Platform

If you are the type of investor that prefers to place trades on your desktop/laptop then Webull probably isn’t for you. They are an app-focused broker as in the Webull app is where you do all your trading and research. They do have a website, but other than a help and Q&A section there isn’t much there.

Customer Service

There is a helpful Q&A section on the Webull website that has answers to most of the questions you may have (such as how to make deposits or place trades). There is also an in-app messaging tool that you can use in case your specific question isn’t addressed on the Q&A page. However, there is no customer service phone number, which could be quite frustrating for those less common questions that really require a person to walk you through something.

Should You Open a Webull Account?

Before deciding whether or not to open a Webull account, you should weigh the pros and cons discussed here in this article relative to what matters most to you in a brokerage account. If you are a fairly simple trader who only trades U.S. stocks and ETFs from the major exchanges and doesn’t mind the lack of a web-based trading platform, you may want to give Webull a try.


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