Webull Cash Sweep Rate
The broker pays 0.00% on free cash balances. While Webull charges $0 for stock and ETF trades, the broker
does make money by earning interest on the cash balances in its customers’ accounts. There are no cash sweep
options at Webull at this time.
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Comparison
Majority of brokerage firms offer very low interest on investors' uninvested cash. TD Ameritrade's cash sweep rates, for example, are
0.01%.
Ally Invest offers the highest in the industry rate
of 1% APY on its online savings account that could easily be linked to its brokerage account.
M1 Finance
offers a checking account that comes with 1.7% APY.
However, that checking is part of the broker's
M1 Plus program which costs $125 a year.
Webull Margin Rates
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Debit Balance
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Margin Rate
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under $25,000
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6.99%
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$25,000.01 - $100,000
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6.49%
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$100,000.01 - $250,000
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5.99%
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$250,000.01 - $500,000
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5.49%
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$500,000.01 - 1,000,000
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4.99%
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1,000,000.01 - 3,000,000
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4.49%
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>3,000,000.00
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3.99%
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Webull Software
Webull offers a browser platform, which doubles as a desktop platform. Whether the program is opened in a browser or launched from the desktop, it has the same interface and features.
There are some good tools on the platform, including nearly full-screen charting and a simulated trading mode. The trade ticket offers a few advanced order types; but there are some features missing that we would like to see, such as streaming financial news and Level 2 quotes.
The second piece of software Webull offers is a mobile app. This platform too has very good charting with a horizontal mode and several chart styles. There are several tools, such as technical indicators, comparisons, and extended-hours price action.
Watchlists and alerts are integrated in the app, which also provides paper trading. The order ticket delivers multiple time-in-force choices and order types.
As with the trading platform, the mobile app lacks features that we would expect to see on a competitive app nowadays. For example, there is no mobile check deposit, and live video news once again is absent.
Services Missing at Webull
Besides mutual funds investing, there are some other brokerage services that are available at other firms but not at Webull. For example, E*Trade and Ally Invest both provide managed account service with human and robo advisors. Webull only offers self-directed accounts.
Webull does not offer banking services, which are available at Fidelity and TD Ameritrade.
Webull does not offer trading in over-the-counter stocks, securities that Schwab and Interactive Brokers customers can trade.
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Chad Morris is a financial writer with more than 20 years experience
as both an English teacher and an avid trader. When he isn’t writing
expert content for Brokerage-Review.com, Chad can usually be found
managing his portfolio or building a new home computer.
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