Moomoo IRA
Unfortunately, Moomoo does not offer any IRA accounts at this time. There are no Traditional IRA, Roth IRA, SEP or SIMPLE retirement
accounts at this broker. For a $0 commission IRA company, which is better than Moomoo, see
Webull IRA Accounts.
Webull Promotion
Up to 75 FREE fractional shares when you make a deposit at Webull.
Visit Webull Website
Does Webull Offer IRA Accounts?
Webull offers Traditional, ROTH, and Rollover IRA’s. All of these have $0 commissions, and $0 account fees.
Even better, the company offers
free stocks
when you make a $100+ IRA deposit.
Webull IRA Overview
One of the best brokerage platforms to feature free trading, Webull has an app for both Android and iOS. Along with free trades, Webull has no transaction
fees and offers users easy access to 4x margin trading. It also has tons of built-in analysis and research so users can research and trade all in one
place.
Is Webull IRA Insured?
Webull is an SIPC insured broker and offers coverage up to $500,000. Additionally, Webull has insurance through their clearinghouse, Apex, that
provides even more coverage, so users can rest easy knowing their money is insured and safe.
Webull IRA Fees
Webull ROTH and Traditional IRA accounts come with no fees or commissions.
Research: Tools and Analysis
This is one area that Webull scores very highly on. The TA tools for analyzing equities are extensive and they
have a great selection of indicators and charting options built right into the app. Traders can open up the
advanced chart of any stock and draw trendlines, overlay comparisons, and utilize an array of secondary charts
so all of your information is conveniently in one window.
Investors can also access tons of information for fundamental analysis, including all the major corporate earnings reports, conference calls, balance sheets, and more. There’s also a stream section which has links to live videos of all the latest market news stories. It’s really a wealth of information that stands right in there with Yahoo! Finance and other financial research applications.
It doesn’t stop there, the news page offers tons of great information to help users find investment opportunities. There are special sections devoted to the day’s biggest gainers/losers, highest volume trades, IPOs and upcoming earnings, and more. Results can even be filtered to include international stock exchanges, like Canada and Japan, and you can create your own stock screeners to find opportunities to fit your trading strategy. These are great tools for finding profitable trades, use them to find opportunities and time your entry and exit points.
Webull Paper Trading
Webull also offers a fully integrated virtual trading functionality. It’s great for beginner and advances investors who want to troubleshoot their trading
strategy, practice timing their entry points, or for educational purposes. Users can even use it to see how financial
decisions can potentially impact their portfolio. This tool is highly helpful and it’s not just for beginners. Investors at any level
can utilize paper trading to become smarter, more profitable traders, and Webull scores big by integrating this educational feature into the app.
Trading Tools
Orders available at Webull:
- Stop
- Stop Limit
- Market
- Limit
- OCO, OTO, OTOCO
Both mobile app and desktop platforms have real-time quotes, in-depth charts, analyst rating and the full financial calendar.
Full extended hours trading is provided for free from 4:00 AM to 8:00 PM (EST).
Account Management
Webull app is separated into five different tabs: watchlists, markets, trade, streams, and explore. The trade tab is the window into the user’s portfolio,
account balance, and current positions. Current balance is displayed at the top along with an unrealized profit/loss figure. Listed below balance is
the account portfolio, which shows all of the user’s equity positions, including the individual profit/loss for each equity. It’s a very efficient
layout and gives you an immediate overview of your entire portfolio.
One of the only problems with this layout is the absence of a daily profit/loss category. While there is an overall profit/loss section for your
account and positions, there is no category that breaks this number down into a 24 hour period. It can lead to some confusion as to just how well a
trade is doing. Often times, a user can see green profits and think all is well while not noticing that profits have dropped from 9% to 6%. It takes
extra effort to make note of the exact price changes and profit percentages to monitor your positions effectively, and this detracts from the
convenience that an all-in-one splash screen is supposed to provide.
In combination with the lack of a take profit order and stop loss orders expiring at the end of every training day, it can be very time consuming to
monitor a lot of positions.
Webull Promotion
Up to 75 FREE fractional shares when you make a deposit at Webull.
Visit Webull Website
Transfers
It’s very easy to start trading with Webull. Using the app, you can transfer funds via an ACH fund or a wire transfer. Deposited funds are available
almost immediately as buying power, but won’t actually show on your balance for a few business days. However, even though the transfer won’t be
reflected in the account balance, users can use the buying power to trade right away, so it’s effectively the same as having the funds immediately
available.
As per SEC regulations, trades take three days to settle, so investors have to wait three days after a transaction, until the trade settles, before
withdrawing any profits.
Access
Webull app is available through Android or iOS. There is also web-based, PC, or Mac OS trading platform.
Streams
Webull’s stream tab offers a huge selection of financial news stories and videos. The news comes from reputable sources like Reuters, Cryptovest, and
thestreet.com, to name a few. It’s a great way to quickly peruse the days business news for stories that are relevant to your investments. There is
even a section that includes videos, so investors can get their news in whatever format they prefer.
Furthermore, users can customize their channels by selecting the categories they want to see within the stream tab. For example, channels can be
filtered to include only news relating to U.S. markets. This feature contributes even more to an already impressive selection of available data and
research tools from Webull.
Customer Service
Most discount brokers score poorly in this category. However, most investors understand in advance that they aren’t going to receive concierge-level
services when they sign up. That being said, users expect basic customer service from even the most budget brokers.
Webull even has a customer service phone number, an amenity notably lacking from their biggest competitor, Robinhood. Having the ability to call a
phone number and quickly resolve an issue is a huge plus and makes interacting with Webull much quicker and more efficient. Customer service is
usually very personable and responds promptly to both phone and email inquiries. For a discount broker with zero-commission trades, Webull’s customer
service has good availability and resolves problems quickly.
Webull IRA Review Recap
Webull has a wealth of information, news, research tools, and data that can stand against almost any trading or investing app. There are so many
different ways to discover investment opportunities and trends that it can be almost overwhelming at times. For a beginner investor, all this data
can be intimidating and can, at worst, cause immobilizing analysis paralysis, but for those with better background knowledge that can cut throw the
fluff and truly utilize the tools, it’s an amazing array of information. In terms of research tools and available information, Webull is a standout
in the category and offers some of the most comprehensive analysis available in the mobile app market.
Best of all, all of this is available to users completely free. Webull makes money on optional services, such as margin loans and on
uninvested cash.
Webull Promotion
Up to 75 FREE fractional shares when you make a deposit at Webull.
Visit Webull Website
Updated on 8/6/2024.
Arthur Chachuna is a professional personal finance blogger, and the owner of Brokerage-Review.com.
He has been an avid investor for 25 years, and has a background in both applied math and programming.
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