Webull rating

Webull Review (2024)


Overview of Webull Financial


Webull offers both self-directed and advisory investment services. Here is our review of the company:


Investment Systems


Webull Investment Rating

Webull used to only offer self-managed accounts. Recently, they introduced an investment advisory service that manages robotic accounts. This service invests in a select group of low-fee ETFs, mainly SPDR funds.


Webull robo advisor review


For self-directed accounts, Webull offers a wider range of trading options including thousands of ETFs, stocks, options, and closed-end funds.

The stock category in Webull’s self-directed service includes over-the-counter stocks (OTC stocks), American Depository Receipts (ADRs), and Real Estate Investment Trusts (REITs).

You can open either a self-directed or an automated account as a personal taxable account, Traditional IRA, Rollover IRA, or ROTH IRA. Other tax structures are not currently available.


Webull Pricing


Webull Pricing Rating

InvestmentsCommissions
Stocks and ETFs $0
Options $0
Mutual funds not offered
Futures (all regular outright) $1.25 per contract
Mini futures $0.70 per contract
Micro futures $0.25 per contract
US Treasuries (0-12 months) 0.07%
US Treasuries (1-3 years) 0.4%
Other Fixed Income 0.07%

Investments stocks, options, ETFs, futures, fixed income
Minimum deposit to open account $0 for cash account, $2,000 for margin account
FeesWebull fees
Promotion Webull promotions


Webull’s robo advisory service has an annual fee of 0.20%. This fee is billed monthly with a minimum of $1, meaning accounts under $6,000 pay more than 0.20%.

Self-directed accounts have no recurring fees. Webull has always been a no-commission broker, and this remains the case, although some exceptions like 55¢ per contract for certain options trades do apply. Penny stocks traded over 100,000 shares or certain foreign stocks may also incur additional charges.


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Margin Trading


Webull Margin Rating

Webull’s self-directed accounts (excluding robo accounts) allow trading on margin, meaning you can trade securities using borrowed money. This service has competitive interest rates:

Debit Balance Webull Margin Rate
under $25,000 9.24%
$25,000.01 - $100,000 8.74%
$100,000.01 - $250,000 8.24%
$250,000.01 - $500,000 7.74%
$500,000.01 - 1,000,000 6.74%
1,000,000.01 - 3,000,000 6.24%
>3,000,000.00 5.24%


The cost for shorting stocks varies by the security and the day the position is held. Webull’s software effectively displays these rates and other relevant details for specific stocks. This includes:

- Maximum shares to sell short
- Day trades left
- Overnight short leverage
- Day-trading leverage
- Maintenance requirement


Mobile App


Webull App Rating

Webull clients can research and trade assets using the broker’s high-quality mobile app. The app features a community forum for each asset, where users can discuss news and connect with others. There’s also a Stock Sentiment score that shows client opinions on potential investments.


Webull Financial Review


The app offers two types of order forms: Classic and Big Button. The Classic is standard, but you can switch to the Big Button form, which has larger, easy-to-use buttons for quick trading. There are many order types available, including buy at market, sell at bid, stop limit, trailing stop, and OCO (one cancels the other).

The app also offers extensive charting tools like lines, Fibonacci retracements, and shapes. There are many technical indicators available, such as RSI, Fast Stochastic Oscillator, and Exponential Moving Average.


Webull Review: Charting


The app comes in three themes: bright, dark, and black. You can switch between them in the Menu tab.

The main limitation of the mobile app is its lack of a check-deposit feature.


Website


Webull Website Rating

For more advanced trading, Webull offers a web-browser platform. It's simple to use, focusing primarily on account management, but the trading platform is very robust, with many resources available.


Webull Screener


The web platform provides excellent charting capabilities, including the ability to expand a graph to full screen for detailed analysis. It offers more technical indicators than the mobile app and allows for extensive customization.

It also features more order types, including an Advanced ticket for complex trades and a Price Ladder for quick bid or ask price selections.

Additional features include:

- Hotkeys
- Customizable themes and colors
- Syncable watchlists
- Stock screener
- Market news


Desktop Platform


Webull Platform Rating

Webull Trading Review


Option chains are available on asset profiles, allowing for quick selection of bids or asks that automatically populate the Advanced trade ticket.

The trade ticket also includes a Graph button for generating a profit/loss diagram, where you can easily adjust trade parameters and see potential outcomes.


Webull Watchlist Grid


The desktop platform provides the best charting experience with multiple plotting styles and a right-click menu for quick order placement. It defaults to the Advanced order ticket for executing complex trades.


Webull Platform Review


Like other platforms, the desktop version also includes a Paper Trading mode for risk-free practice.


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Bonus Services


Webull Services Rating

IPO Access: Webull offers access to Initial Public Offerings. The mobile app keeps a current list of upcoming stock launches.


Webull IPO


IRA Service: Webull provides Traditional, Rollover, and Roth IRAs with no ongoing fees or minimums. However, it does not offer margin for IRA accounts, which restricts trading options.

Extended-hours Trading: Webull offers extended trading hours at no extra cost, including pre-market and after-hours, totaling 16 hours of trading each day.

Fractional Shares: Webull clients can buy fractional shares of stocks and ETFs in either whole dollars or securities.

Dividend Reinvestment Plan: Currently, Webull does not offer a Dividend Reinvestment Plan (DRIP).

Stock-Lending Income Program: Through Apex, Webull allows clients to earn interest by lending their stock shares.


Recommendations


Beginning Investors: An automated account at Webull is a good start for beginners.

Retirement Planning & Long-Term Investing: While Webull offers IRAs and robo accounts, it lacks other essentials like mutual funds, bonds, and annuities, unlike Charles Schwab.

Stock and ETF Trading: Webull, with its advanced software and fractional-share trading, is a strong choice for stock and ETF trading.

Small Accounts: Webull’s self-directed accounts have no minimum deposit requirement, but the robo program requires at least $100 to start.

Mutual Funds: A limitation of Webull is its lack of mutual funds. Firstrade offers over 11,000 mutual funds with no transaction fees.

Individual Retirement Accounts: Webull offers three types of IRAs, while Charles Schwab provides a broader range with extensive retirement planning services.


Awards





Webull Review Summary


Webull offers a comprehensive range of services, though it has some limitations. High-powered traders will appreciate the robust software options, and the new robo service caters well to entry-level investors.


Webull Promotion



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Updated on 7/19/2024.


About the Author
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.