Everyone has heard of the free commission stock trading app known as Robinhood. Well, there are other apps out there worth looking into and Webull is one of them.
Webull has the best research and analysis tools of all the free brokers. It’s paper trading capability and real time market data make it a stand out for sure from the competition.
Webull launched its commission free trading app in May 2018. Before this, they were mostly used as a research platform giving real time data on the stock market and providing some of the best tools for analyzing stocks.
Now they offer one of the most professional investment apps built for online stock trading and provide it free of charge with no membership costs, no commission fees and no data fees.
After reading this comprehensive Webull Review, you’ll know what Webull can offer you in terms of trading stocks and have all the information necessary to determine if this is an app you’ll want to add to your trading arsenal.
Where is Webull Available?
First of all, Webull is currently available in the United States and outlying territories, India, Malaysia, Philippines, Japan and Korea. This may not seem like very many countries but when you compare it to its competition for free-commission trade brokerages, it surpasses them all.
Currently Robinhood and Matador (other commission-free trade brokerages) are only available in the United States.
No review is complete without an inside look into the investment app itself. This video is taken from my actual Webull Account.
What Can Be Traded with Webull?
What makes Webull unique and standout from the competition is their huge suite of research and analysis tools for the markets and stocks. I mean, I was blown away when I first saw how much data and information was provided on this app.
Securities that Can Be Traded
Currently Webull supports the trading of over 5000 Stocks and ETFs in the United States. You can not trade options, mutual funds or bonds as of now.
They also support the following order types:
- Market Orders
- Limit Orders
- Stop Orders
- Stop Limit Orders
One thing to note is that all orders are “Good for Today” and not “Good Until Canceled” which means that all trades are only good for the day and can not be placed for greater than a day. This just means you much check on your order to ensure it is filled. If not, place a new order the next morning.
This also protects you from forgetting about orders you placed in the past if they would have taken several days or weeks to fill.
Webull offers extended hours trading which means that when the market is closed for the general public you will be able to make trades. The normal hours of the Stock Exchanges are 9:30am – 4:00pm EST. The extended hours that Webull allows for trading are as follows:
- Premarket 4:00am – 9:30am EST
- Aftermarket 4:00pm – 8:00pm EST
This is a pretty big benefit and a lot of brokerages do not allow trading in these time frames without paying a fee.
Many companies announce their earnings before the markets open or after they close so in extended hours you can take advantage of these press releases before everyone else!
That’s the power of extended hours trading.
You can make 3 day trades within any 5 consecutive business day period (including pre-market and aftermarket). This is the same for all brokerages and is regulated outside of Webull. If you exceed this many day trades, you will need to have an account that starts the day with a balance of greater than $25,000 or else you will not be permitted to continue day trading.
That being said, Webull is not really meant for day trading. There are better broker dealers that I would recommend for day trading such as TDAmeritrade or Interactive Brokers because they require the fastest in charting capability and order execution every second counts when you are trading at the speed of a day trader.
What Types of Accounts Can You Open?
Webull offers Cash Accounts and Margin Accounts. Cash accounts DO NOT require a minimum deposit.
In order to open a Margin Account you will need to maintain a balance of at least $2,000.
Margin accounts allow you trade on margin which means you can make trades without having the funds deposited in your account. This is allowed because Webull loans you the capital to make the trade as long as you pay the margin fee. Margin Fees are as follows:
Margin trading on Webull is very straight forward in regards to fees but I would caution beginner investors from trading on margin because you can find yourself owing Webull a lot of money if you make a bad trade and don’t have enough money in.
Even though Webull charges $0 commissions on all trades, it should be noted that standard SEC and FINRA fees may apply. These are fees that apply to all brokerages and come from outside entities. No brokerage can waive these fees although they are generally negligible and so small, you may not even notice them.
Webull Research and Analysis Tools
This is the most exciting feature Webull offers in my opinion. What separates Webull from its competition, is its incredible resources for investors. Webull offers a range of tools designed to help screen, analyze and research stocks.
If you ever wanted to try an investing strategy but were afraid to put your money on the table, now you can! Webull offers paper trading which means that they have a simulator built into the app that allows you to trade “fake money.”
Webull starts you out with $1,000,000 to invest. If you lose it all or want to start over, simply reset the account with the click of a button and try again.
This allows you try various strategies risk free and is an amazing resource.
A lot of big brokerages offer this. The fact that a brokerage that offers zero-commissions put the money into building this kind of tool is a tribute to their commitment to being the best brokerage out there.
Use Screeners to Find the Perfect Stock
Screeners allow you to build a filter based on the exact criteria you are looking for in a stock. You can sort stocks by regions, exchanges or market sectors such as NYSE technology stocks as one example.
You can also sort by Quote Indicators which will show you P/E ratio, Price, Volume, Market Cap and more.
Sorting by dividend yield, EPS (earnings per share), and dividends is also available.
Are you interested in stocks that meet a particular Technical Indicator? There’s a way to screen for that as well. Set a screener for RSI, MACD, Three White Soldiers, and many others.
Of course, you can even sort stocks based on Analyst Ratings if you want to leave the heavy lifting for someone else.
For an example, if you want to find stocks on the NYSE that are in the financial sector and have a P/E ratio between 5 and 15 and also pay an annual dividend of at least 5%, its as easy as clicking a few squares.
Once you hit save, all the stocks that meet the criteria you chose will be listed for you.
Browse Stocks Based on Broad Categories
You can also browse stocks by the Hottest Industries, Hottest Stocks, Hottest ETFs, Most Active, Top Gainers, and Top Losers.
By browsing these simple categories, you can identify stocks that have recently made big moves and you can look for opportunities to buy in or cash out profits!
These categories are easy to browse and are constantly updated to ensure you are receiving the latest and greatest in what’s trending now!
The option to see the latest and upcoming IPOs is available so you always know when new companies go public and can accept investors.
At the Earnings Center, you can see which companies are about to report earnings so you never lose sight of when a company you own or are pursuing may take a swing in price as a result of their report.
Sorting through stocks has never been easier. Webull just release their latest app update which means that you are getting the latest in their advanced platform.
Charting and Trading Integrated Seamlessly
With the latest update to their app, you can now analyze graphs and with the press of a single button in the corner of the graphing screen, enter or exit a trade.
This means that if you are waiting for a specific signal to occur and it finally does, you won’t miss the trade. Simply click trade and submit the order in a matter of seconds.
This is a huge feature for technical traders that use candlesticks.
Is My Money Secure and Safe?
Webull is a member of the SIPC. The SIPC protects up to $500,000 in securities such as stocks and bonds ($250,000 limit on cash).
In addition to this though, Webull is protected by an additional insurance policy to insure an aggregate amount of $150 million dollars (up to $37.5 million per customer for securities and up $900,000 in cash).
Takeaways from this Webull Review
Before we show the scorecard below, let’s discuss the simple take aways. Webull offers an incredible suite of research tools and analytic tools for investors to use in order to make the best trades.
Webull’s new interface makes trading lightening fast and integrates seamlessly with the graphing charts.
The vision of Webull is simple: giving everyone the tools to trade with zero membership fees and zero commission fees.
The only downside is that you can not trade mutual funds, bonds, crypto currencies, or options at this time. They have plans to continuously roll out new features in the upcoming months. In the meantime, if you are interested in trading cryptocurrency and options for free, check out this full Robinhood Review.
I think this is one of the best apps for trading stocks on the market today. I plan on moving a lot more money into this platform soon so I can take advantage of some of the newer features.
I hope you enjoyed this review. If so, please leave me any comments or questions below. I’d love to hear from you. Also, if you can think of someone else that may benefit from this review, please don’t forget to share it with them!
As always, Let’s Start Investing!
Ease of Use9.0/10
- Zero-Commission Fee Trading
- Paper Trading available to practice without risking actual capital
- Intuitive and Extensive Screener Tool
- Excellent Analysis and Research Tools
- Great Referral Program to get Free Stocks
- Doesn't allow for trading mutual funds, options, crypto-currencies or bonds
- No web-based platform