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Webull Clearing Firm (2023)
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Webull Clearing House
Webull uses Apex Clearing as its clearinghouse for equities, and Apex Crypto for its cryptocurrency offerings. There are many benefits that come with Apex, and Webull is proud to pass those benefits on to its customers. If you are wondering if Apex Clearing and Webull can give you the services you require, keep reading. We’ve compiled some notable information for you.
Services Offered by Apex Clearing
Because Webull uses Apex Clearing, investors at Webull get to benefit from many useful services.
Apex connects investors to a wide range of tradable assets like, equities (stocks), ETFs, options, and cryptocurrencies. Trade at Webull is always commission-free, and fractional shares provide easy access to some of the market’s most valued securities.
Other services that investors at Webull can take advantage of are the fast trade executions, stock lending, and streamlined account management services.
Open Webull Account
12 FREE stocks valued $34-$30,600 give-away at Webull.
Open WeBull Account
What is the Role of a Clearing Firm?
Every stockbroker has some form of clearing house. Some are self-clearing brokers, meaning they act as their own ‘middle-man’. Others utilize the services of dedicated, independent clearing houses. Webull falls into the second category. But what does a clearing firm do?
One of the most important jobs that clearing houses do is to clear trades, which is to match buyers with sellers, and ensure that trades are executed quickly and at fair prices.
Another thing that clearing firms are responsible for is trade settlement. It is the clearing firm’s job to make sure that funds and securities make it to their destinations.
Custody services are another crucial service that clearing firms bring to the table. In short, it is the clearing house that holds investor funds and manages customer accounts. Portfolios and cash balances are both safeguarded by the clearing house.
Cryptocurrencies Clearing at Webull
At Webull, the cryptocurrency trades are also cleared by Apex. In the case of digital currencies, however, it is Apex Crypto, instead of Apex Clearing, facilitating trades.
One thing to keep in mind is that Apex Crypto acts as a custodian for digital currencies and holds all Webull investor assets in its accounts. Essentially, that means investors can buy crypto with dollars and then sell it back (to Apex Crypto) for dollars.
Open Webull Account
12 FREE stocks valued $34-$30,600 give-away at Webull.
Open WeBull Account
Related Questions
Is an independent clearing house better than a self-clearing broker?
Whether an independent clearing house is better than a self-clearing broker is a matter of expectation and opinion. Each type of clearing house has benefits over the other. Self-clearing brokers are known for faster trade execution, lower fees (sometimes), and a simpler account funding process. Independent clearing houses provide brokers with a package deal that can lead to lower costs overall, and allow brokers to offers expanded service lists.
Where can I find clearing numbers for brokerage firms?
To check the clearing numbers for brokerage firms, one of the best resources in FINRA’s brokercheck web tool. Every broker and clearing house is listed for public view.
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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