- Webull overview – what is Webull?
- Webull alternatives
- Webull pros and Cons
- Webull at a glance
- Webull Commissions and Fees
- Is Webull right for you?
- Frequently Asked Questions
Every day when you get up, run through the Forbes list of the wealthiest people in the world. If your name isn’t there, it may be time for you to learn about the Webull trading app and consider crypto investment. This Webull investing review explores some of the platform’s features, offerings, fees and options so you can decide if it’s worthwhile.
Webull Overview
Webull, the American broker-dealer founded by Wang Anquan in 2017, is an investment trading platform headquartered in New York City. The firm, registered with the US Securities and Exchange Commission (SEC) in 2018, offers an all-in-one trade investments platform. The firm provides advanced research services and tools at affordable prices and serves over 13,000,000 users. Webull app has gained a reputation as a user-friendly tool and is now popular with both novices and experienced traders. According to the firm’s LinkedIn page, it has 296 employees.
Webull cryptocurrency exchange is part and parcel of Webull Financial LLC, a brokerage firm with activities in at least 50 states in the US. The platform offers professional analytics, stock market assets and numerous cryptocurrency offerings. While the exchange’s users can comfortably trade at least 44 different cryptocurrencies, they must sell them for USD before withdrawing because they still can’t send or receive digital assets to and from their Webull account.
Webull Alternatives
Binance
Binance remains the leading cryptocurrency exchange worldwide in trading volumes, and traders have many cryptocurrency pairs to choose from. While the Webull app offers trade against Bitcoin and the other major cryptocurrencies, Binance goes further and presents some of the smaller and emerging cryptocurrency trading pairs. Seeing the high trade volumes, you can be sure that Binance is more advanced than most cryptocurrency exchanges.
Binance offers an intuitive mobile app, meaning users can access trading opportunities on the run. On the flip side, though, most users, and especially beginners, will get put off by the fact that the platform’s minimum transfer amount is $10, which is something they should be able to improve on in the future.
Read also: Binance Review 2023
Robinhood
Robinhood is among the pioneer crypto trading platforms that especially target new investors by offering intuitive and inviting programs to help those aiming to make their first trades. The platform runs a simple swipe, tap and flick program for crypto investment, enabling anyone to enter the trading floors in seconds.
Robinhood offers distinctive opportunities that teach newbies about the crypto market and the different kinds of available orders. If you’re looking for an excellent introduction to options trading, look no further than the platform’s in-app guide. While Robinhood users have access to fewer securities than Webull, their desk platform and mobile app have easy-to-use interfaces that most new traders will find attractive.
Read also: Robinhood review 2023
Coinbase
Compared to Webull 2023, Coinbase is the exchange of choice for anyone interested in accessing the widest-ever selection of crypto investments. Unlike the Webull app, Coinbase doesn’t feature the other traditional investment markets like bonds and stocks but instead concentrates all its efforts on the cryptocurrency market.
Whether it’s Bitcoin, emerging altcoins or stablecoins, Coinbase has offerings that make crypto investment fun and easy to learn. One of the best things about Coinbase is the provision to join their Coinbase Earn Program, a cryptocurrency trading program free of charge. The platform features several education videos detailing their major offerings besides a quiz users can take for the opportunity to earn free crypto for every correct answer they get.
Read also: Coinbase Review 2023
Webull Pros and Cons
Pros
Affordable: The Webull trading app offers services at a relatively low price compared to other cryptocurrency exchanges.
Advanced tools: The platform has an easy-to-use interface, thereby making the Webull user experience something to look forward to. That comes as a bonus considering the platform’s advanced charting and screener tools.
Access to cryptocurrency: Webull users have access to over 44 digital assets, far above many average-sized exchanges.
Wide reach: The platform’s owners have learned the ropes from the older crypto exchanges in targeting newbie investors. Using tools of the trade that appeal to the modern investor combined with an easy-to-use interface, Webull attracts both armature and experienced crypto traders. It also incorporates several technical indicators, in-depth charts and advanced orders, among other attractive tools.
High ROI: Webull offers investors up to 5% APY on amounts their leave un-invested on the platform, a figure that only a few other brokerages can match.
Cons
Fewer offerings: Webull’s offers aren’t as diversified as similar platforms.
Limited educational support: As a platform targeting newbie investors, Webull could do a better job by offering more educational materials like the more established brokerages.
Webull at a Glance
Webull is the perfect platform for beginner and intermediate traders, offering an outstanding user experience. Besides the excellent charts, the platform also offers commission-free trading. If you’re an experienced investor, you’ll agree with us that the following list of Webull features is what every trader looks for in a broker.
Account minimum
Trading at Webull requires a $0 account minimum, meaning you don’t have to struggle to have a particular amount before you can begin trading. Once you open an account and go through the verification process, you can deposit as little money as you have, and you’re good to go. This account minimum is applicable whether you’re trading options or stocks.
Account fees
Users can enjoy commission-free trading at Webull when trading Options, ETFs or stocks. Nonetheless, there are only a few index options where some contract fees apply. Note also that some regulatory and exchange fees may apply, and you’ll also be charged some margin interest when you make a margin trade and hold the position overnight. The platform also doesn’t charge annual or activity fees, but a $75 transfer fee is related to transferring the entire or partial account value to a different brokerage. This extra fee relates to wire transfers or other related activities.
Tradable securities
Webull supports trading in US-listed stocks, Over-the-counter (OTC) securities, ETFs, Options and over 44 cryptocurrencies. You need to open an account before participating, and opening one is straightforward and fully digital. Moreover, the platform has an easy-to-use interface that is well structured.
Trading Platform Features
Webull 2023 offers an impressive trading platform with modern-day analysis, screening tools, and in-depth resources explaining its features. Users can tailor their favorite tools and enjoy placing orders manually or using voice activation. The platform recently upgraded and introduced enhanced features. The update is available for Windows, Linux and Mac users.
Mobile app
The platform’s modern mobile app introduces advanced features such as price alerts, indicators, paper trading, and voice commands.
Research and Data
The Webull app offers fundamental stock data, including their earning potential and valuations. Besides including Weibull updates and news, these fundamental data help users access the platform’s current health status and the future potential of different stocks. The news and updates are harvested from trusted sources like Dao Jones, Morningstar, NASDAQ and TotalView.
24/7 Phone, Email and Chat
Webull 2023 offers 24/7 customer support via phone and is also available via email and in-app chat. The platform also operates an online customer support center where the most routine questions get answered.
Webull Commissions and Fees
Webull doesn’t charge commissions for trading crypto, options, ETFs and stocks. The firm, therefore, makes its money through interest on cash balances, margin lending and payments from order flows. Moreover, the platform doesn’t charge withdrawal or deposit fees. However, users incur an $8 deposit and $25 withdrawal fees on wire transfers and a $14 deposit and $45 withdrawal fee for international clients.
Webull Trading Fees
Webull offers commission-free trading, but payment applies to some activities. You’ll need to remit relatively small SEC and FINRA-related fees. Moreover, there are also some margin fees ranging between 3.99% and 6.99%, besides a 1% spread fee on both sides of the crypto trade.
Is Webull Worth it?
When you honestly consider the list of Weibull pros and cons, you discover that the platform is worth it for anyone interested in beginning trading crypto, stocks and security. Webull compelling offer of free trading on Stocks, ETFs and options, besides the top-of-the-range trading tools and cryptocurrency support, make the platform a good choice. Long-term and hold investors looking for bigger options may want to look for more lucrative opportunities elsewhere. You also want to remember that money, in any form, is just like manure – you want to spread it around; otherwise, it will smell.
FAQ about Webull
1.Is Webull legit?
Webull is legit and not a scam. The brokerage firm is duly registered in the US and follows strict guidelines established by FINRA and the SEC, leading regulatory bodies in the USA. Also, the platform is licensed in other jurisdictions, including MAS Singapore.
2.How Webull Works
With many offerings, including the popular commission-free model for beginners, most people can’t understand how Webull makes its monies. Yet, users don’t pay transaction fees each time they trade. The Webull app removed trading commissions but still affords to lower operating costs as most of the work is done remotely. Additionally, Webull generates its income through the;
3.How do I register on Webull?
Opening a Webull account is a hassle-free undertaking. Once you log in to the Webull platform, the rest of the process of opening a live or demo account will only take you a few minutes. The simple steps are included on the sign-in or account opening page:
- Visit the sign-in page and select and click “Open an Account.”
- Submit the required information: Name, phone number, email address etc.
- Upload the required documents to verify personal data. The documentation includes ID, residential proof etc.
- Complete the electronic quiz confirming your trading experience
The account will get activated, and once it’s been proven, you can go ahead and deposit the amount of money you want to begin trading with.
Disclaimer: The information provided in this article is based on research and personal opinions, and it is subject to change. Always conduct your own research and exercise caution when participating in the Crypto market.
