Webull Review 2020

The new mobile-based investment app called- ‘Webull’ has been a talk of the financial world for quite a while. It promises to offer free stock app trading. It is even considered a smart alternative to Robinhood, and good competition to other investment apps and tools. The free stock app has impressed the trading world with its in-depth trading data, the high-end tools and features, and other perks like- no commissions or any kind of fees on trades. But we don’t want to go by what others say. We have gone in-depth on all the claims and features of Webull in this review to give you the best legitimate information on this trading platform.

So, let’s start our Webull review with who it is for? Well, Webull offers its services mainly to the traders who already have investment experience than those who are just venturing into it. By far, Webull seems like a goody-two-shoes. Let’s dig in further in this review, whether this trading platform is all that it claims?

Webull at a glance:

Webull was established back in 2016. It is a privately held, venture capital-backed company. Legally it is known by the name- ‘Webull Financial LLC’. Webull is simply an investment app on which traders can purchase and sell stocks and ETFs. Webull offers free stock trading services free of commission or any fees. The Webull’s mobile-based investment app was released in May 2018. The objective of releasing this app was to make an investment with the help of high tools services accessible to everyone. The company believes in equal opportunities for everyone. In the words of the CEO of the trading app company- Anthony Denier- “Webull believes that everyone should have an equal opportunity to control their own financial future.”

How safe and authentic Webull is?

Now that we have established the core purpose and vision of Webull let us see how secure it is to invest and trade through Webull. To start with this, it is a registered broker-dealer with the U.S. Securities and Exchange Commission (SEC). It is also a member of FINRA and SIPC. Attaining and maintaining such high-standard certifications is itself a sign of credibility and authenticity.

  • Through SPIC certification, Webull offers 500,000 U.S. Dollars protection to its customers.
  • Through Apex Clearing Corporation (Webull’s clearing firm), Webull offers additional insurance to its members.

Below is a screenshot from the official website of Webull that clearly states the regulation of the trading platform SEC and FINRA:

Webull Review - Know How Safe Webull Is!
Webull Review – Know How Safe Webull Is!

Please note: Webull tries to offer the best protection and insurance to all its clients, but like any other trading and insurance platform, Webull, too, can’t offer protection against the unpredictable market losses. Therefore, we suggest you make well-informed decisions.

Given investment and trading market is quite volatile and unpredictable in nature, Webull tries its best to support its clients with best facilities that include-

  • In-depth market research,
  • Great high-tech trading and investment tools,
  • Support the clients in forming intelligent financial decisions.
  • Webull offers its clients zero-commission short selling in margin accounts.
  • Webull makes use of encryption and other advanced digital security features to maintain high standards for safeguarding clients’ information absolutely safe.

Can you make money with Webull?

The short answer to this question is, of course, yes! Trading smartly and intelligently does earn you money. Webull offers free stock valued up to 1000 on the first deposit of more than 100 U.S. Dollars.

Webull Review - Open an Account with Webull
Webull Review – Open an Account with Webull

To start with, you need to open an account with Webull. Here is the simple step by step checklist that you need to follow in order to open an account at Webull:

  • Signing up for an account at Webull is fairly easy. The first step requires filling out some basic information for the client’s identity verification purposes.
  • Then you need to provide bank account details to link your account.
  • The verification process at Webull takes less than 24 hours. On average, the verification process gets successfully completed in just a few hours.

Upon successful verification, Webull makes two deposits in the newly made account of very small amounts. This process takes 24 to 48 hours.

  • Upon successful depositing of the funds in your account by Webull, now you need to verify them on Webull. This step confirms your bank account details.

That’s all! Now, you are ready to trade and invest in Webull. The good news is, Webull does not demand any minimum deposit for a trader to start trading.

Webull Review - Account Types of Webull
Webull Review – Account Types of Webull

Features that you can enjoy on Webull:

In order to make the best use of Webull, you should know all the features of this trading app. Webull offers some very useful trading tools that take your trading and investment game to the next level in no time!

Webull Review - Features of Webull
Webull Review – Features of Webull

As seen from the screenshot above, Webull can be downloaded from many platforms such as:

  • GooglePlay
  • AppStore
  • Windows
  • Mac
  • Web App

This Webull review will summarize all those features here:

  • Live Charts and Indicators:

    Webull is all about offering accurate real-time data. For successful trading, excellent data acts as fuel for it. Webull gives insights on all the relevant stocks that the trader is interested in. Webull also offers indicators, which in itself is a highly useful and advanced feature for experienced traders. This feature is commonly found on serious trading accounts.

  • Stay updated round the clock with Webull’s news reports:

    Webull offers its clients with the latest news reports, press releases, and any updates on a date to date basis. Webull brings together trading and investment-related news in order to help the clients to make well informed financial decisions. These live updates help the clients to research in a very convenient manner. Also, the calendar feature marks the important days for the clients.

  • Recommendation from the experts:

    Webull offers expert recommendations on making the trade decisions easy. It helps the clients to make intelligent decisions while purchasing stock through the aggregate report of analyst recommendations at Webull. The client is able to foresee the financial market trends and be cautious of the pit holes in advance.

  • Webull’s watch lists:

    This is undeniably a very important tool for any investment app. Through Webulls’ watch list, the clients can conveniently track their desired stocks.

  • Master the art with Webull’s virtual portfolio:

    Webull offers its clients a safe ground called- virtual portfolio’ where he or she can try their hands on investment and trading experience, as well as understand how Webull works, without having to lose any money. The virtual portfolio is basically an investment account without money.

  • Stock screening:

    This feature is your best friend when you want to compare two or more stocks. It helps in deciding which stock one should purchase by narrowing down the unique features based on each stock. It is an in-depth feature that gives all the details that one wishes to look for.

  • Trade on Margin with Webull:

    Webull offers a margin trade facility to all its traders and clients. However, unlike its other services, this one is not free of cost. There is a requirement to maintain a minimum balance in order to use this feature. The minimum requirement is 2000 U.S Dollars. Only after marinating this minimum amount can the trader or the investor can trade on margin with Webull. Also, under the same category, Webull also charges percentage fees on all the margin trades made on this platform.

  • Short selling at Webull:

    This is a unique feature which is absent on many other trending investment and trading apps. Webull allows its clients to make short sales on its trading platform.

  • Extended trade hours:

    Many promises, but few walks the talk. Webull definitely fulfills this promise as it offers extended trade hours. The extended periods are- (1) from 4 AM to 9:30 AM and (2) 4 PM to 8 PM EST. This feature, although it looks simple but is highly beneficial for all those who have a rigid and busy lifestyle. These extended trading hours act as a window for the users to trade.

Webull Review – Extended trade hours by Webull

Is Webull better than Robinhood?

In the last decade, it was not an alien concept to pay for commissions and trading fees every time you wanted to trade. But with the advancement in technology, trading, and investment platforms such as Webull, the entire trading scenario has flipped. Gone are the days when there were hidden costs, transaction fees, fees on trade, and the trader had to pay commissions. But along with Webull, many other free apps are also giving it a tough competition. One such app is Robinhood. In this section of our Webull review, we will compare the two apps and see which one wins!

To understand whether Webull is better than Robinhood, we must understand what is the basic make-up of these platforms is:

Similarities between Webull and Robinhood:

  • Both Webull and Robinhood are free stock apps that offer $ZERO commission with $ZERO minimum.
  • Despite the great reputation Webull and Robinhood enjoy, surprisingly, both of the trading platforms do not offer great customer service. It is certainly an area where both of these platforms can improve and grow.
  • Neither Webull nor Robinhood, are good for long term investors. Those who seek passive investment and trading platforms should not go for either of these platforms.
  • Both Webull and Robinhood offer free options trading.

Now, that we have understood a little background of these two platforms, let us now look at their differences:

Webull

Robinhood

  • Webull offers free IRA accounts.
  • Robinhood does not offer free IRA accounts
  • Webull does not offer fractional shares in stock and ETFS.
  • Robinhood offers fractional shares allowing clients to invest in as little as $1 in stock and ETFS.
  • Webull is not designed for beginners. It rather suits those traders and investors who have some prior experience.
  • Robinhood is great for absolute beginners.
  • Webull offers great high-tech trading and investment tools that are required by active advanced traders and investors.
  • Robinhood targets to serve the beginners in the trading and investment field. Therefore, it does not offer very many advanced trading tools.
  • This trading platform offers trading simulators.
  • Robinhood lacks a trading simulator.

So, coming back to the question of whether Webull is better than Robinhood- the answer is both yes and no. Why? Well, Webull is better than Robinhood in terms of serving to the advanced traders and investors; while, Robinhood is better than Webull in terms of serving the beginners. Both of these free stock trading apps target a different audience, and therefore their features and facilities are designed accordingly.

What are the Pros and Cons of using Webull?

Webull offers many perks and gives its clients an upper hand on the investment and trading through its advanced tools and technology. But like anything else, Webull too has its own shortcomings. In this section of the Webull review, we will look at the pros and cons of using Webull as your chosen trading platform. Let us start with what kind of advantages the clients get to enjoy at Webull:

Advantages of using Webull:

  • Extensive features:

    Webull offers its clients an extensive range of trading and investment features that allow them to engage with the trading and investment world in an active as well as pro-active way. Such a variety is not seen on other trading platforms.

  • Research-backed features:

    Webull is not just about quantity but is about quality too. The exciting range of trading features that the Webull offer is thoroughly backed with in-depth research in order to give you premium choice results. Through such tools finding the best fit in terms of stocks and ETFs that suit your needs becomes all the more effective and easy.

Webull Review - Analysis Tools of Webull
Webull Review – Analysis Tools of Webull
  • Webull’s paper trading tool:

    The paper trading tool is an excellent tool that gives the trader a taste of the trading platform works, how and when to use its features, and what errors they might make; all through a practice session. The Paper trading tool by Webull allows the users to understand all this without having to face any risk.

  • Extended trading hours:

    Nobody can deny the advantage of the extended trading hours. They are like a boon to those who have a hectic lifestyle. Those extended trading hours allow them to participate in trading despite their busy schedules.

  • Easy access:

    Webull offers all its clients easy and user-friendly access to all its features. Keeping abreast with the ever-changing market is in itself a challenge; with that, if it is backed with an easy to understand trading platform, then things become so easy and comfortable.

  • ZERO commission:

    With the kind of features, Webull offers, giving them away without any commission is a big feat. Any other trading platform that is offering such facilities and such advanced features are also charging a good commission, but Webull doesn’t. This lends a great attraction point to Webull. Also, it allows all those traders who don’t have enough financial backing to confidently participate in the trading and investment world.

Webull Review - Webull Fees
Webull Review – Webull Fees
  • Excellent customer service:

    Any good trading platform becomes great due to its customer service. And Webull excels in this department too. These services can be accessed through email, or online live chats with Webull’s professional team, or through direct phone calls. Webull doesn’t consider any question as too small. The response system of Webull is prompt, attentive, and supportive.

Webull Review - Connect 24/7 with Webull
Webull Review – Connect 24/7 with Webull

Along with advantages, we also want to shine a light on the disadvantages of using this platform, so that you can make up your mind whether this platform suits your needs or not. Here are a few key points to keep in mind:

Disadvantages of using Webull:

  • Not that great for beginners:

    Webull is an advanced trading platform. It suits the needs of the advanced, active trader and investor. Therefore, the beginners who are not that active may find the high-tech technology of Webull as daunting and discouraging. Also, the in-depth trading features, the research-backed analysis, and suggestions made for the trader and the investors by Webull can get overwhelming for the new traders.

  • Limited investment option:

    Webull doesn’t offer all the investment options, which becomes a downside for all those who are seeking a versatile investment portfolio. For instance, Webull does not offer options, mutual funds, bonds, long-term investment plans, and so on. On the other hand, OTC and Pink Sheet stocks are also limited. Also, there is a limitation on those stocks that are under 1 U.S. Dollars or those with a market cap of 10 million U.S. Dollars. All these factors limit the investment style and freedom of some traders and investors who seek broader trading and investment options.

Conclusion:

Our final verdict, after offering you our in-depth Webull review is that Webull is indeed a legitimate and safe trading and investment platform. It is a well regulated and authentic platform that strives to offer its clients the best of the trading services to help them grow their wealth through intelligent investment and trading strategies. Webull offers unique services to those traders who want to push the envelope of basic investment but who are not active day traders. It does so through its extended trading hours.

Webull welcomes and encourages all through its attractive lack of fees, zero commission, minimum balance, etc. We will give a big thumbs-up to the amazing Webull app, and would suggest you to try your hands on it for sure. Webull is an intelligent invitation to dive deeper into the investment and trading world without having to sacrifice your busy lifestyle.

Webull

8.8

REPUTATION

8.9/10

SECURITY

9.0/10

USER EXPERIENCE

9.1/10

SUPPORT

7.5/10

PAYMENT OPTIONS

9.5/10

Pros

  • Research-backed features
  • Extended trading hours
  • Easy access
  • ZERO commission
  • Excellent customer service

Cons

  • Not that great for beginners
  • Limited investment option