Webull is part of China-based Fumi Technology. They provide tools and technology for traders, including, live market data, trading platforms, and analytical tools. Webull’s customer facing operations are in New York City. The actual technology is based in Hunan, China
What we learned about Webull
Webull is a mobile-focused online broker. The Webull mobile app is a well-designed and easy-to-use application.
Webull has more capabilities than Robinhood. The large full-service brokers like Fidelity and TD Ameritrade still have more research tool at your disposal.
Not surprisingly, Webull offers $0 trades on stocks/ETFs. Webull offers $0 option trades and $0 crypto trades. Webull does not currently offer investment classes such as mutual funds, bonds, or futures. The company earns money from commissions, transaction fees, account interest and margin rates.
Commissions and Fees
Webull offers $0 trades on stocks/ETFs. This is compared to $0.65 - $0.75 that other companies charge.
Minimum deposit
Webull requires a minimum deposit of $2,000 for margin accounts. They do not require any for a standard account.
How does Webull survive
Webull collects money from lending, interest on cash balances, and buying client orders from exchanges. They sell your order flow to wholesale market makers.
While Webull does not charge for an ACH transfer. Wire transfers are a $8 deposit fee and withdrawals are $25 for U.S. clients. Other fees they have are a deposit fee of $14 and withdrawal fee of $45 for international customers.
Trading Platforms and Tools - What are the Benefits
Webull lacks some of the tools of TD Ameritrade and TradeStation. But Webull will satisfy most traders otherwise.
Platform Charting
Webull offers standard charting features. Different chart types, drawing tools, and technical indicators. They have grid layouts to compare charts too. The desktop app includes lists such as "Hot ETFs" and "Essential Watch Lists," in addition to screener functionality. Charting was easy to use on both web and desktop.
Replay of the Market
Webull offers a unique feature unlike any other service when it comes to viewing stock charts. Users can replay the day's price action through video, a perspective not found at any other broker.
Quote data
Traders pay a fee to view the level-2 quotes. You will have to pay this after your free data subscription expires. Webull has recently dropped its Level 2 subscription cost to $1.99 per month. So this makes it more bearable. But the basic data is free. If you want options data (OPRA) you must trade at least one options contract per month with Webull.
Research
Webull's tools are not better than the big brokers. And they also offer the $0 trades.
Stock research
Webull offers analyst ratings, a screener, price targets, analyst ratings, company news, and has ETFs that have the stocks as holdings. Webull's blog is void of research topics.
Webull community
Webull has a vibrant community. They treat it like a Twitter feed. You can make comments on stocks. Users are about to even react to news and price movements. It is fun to watch others predict whether a stock will rise or fall. And when they are correct, they will earn Webull. Those points can earn you entry into trading competitions. Those competitions are for real money.
Mobile Trading
Webull's mobile app is easy to use and is in line with the desktop app. Again, Webull has more features than robinhood but still lacking in relation to the big boys.
Education
Webull offers virtually no investor education. If you are looking for more interactive education then you will have to look to the bigger brokers. TD Ameritrade and Fidelity have webinars and highly-detailed write-ups.
Offering of Investments
Webull offers stocks, ETFs, and options. You can trade fractional shares. Also sell shares short. What isn't supported is Mutual funds, futures, and bonds. Webull has access to IPOs. You don't have to worry these also have a $0 requirement.
Does Webull offer crypto
Webull allows trading of cryptocurrencies. These are the currencies included:
- Bitcoin (BTC)
- Ethereum (ETH)
- Bitcoin Cash (BCH)
- Litecoin (LTC)
- Dogecoin (DOGE)
- Zcash (ZEC)
- Stella Lumens (XLM)
- Ethereum Classic (ETC)
- Cardano (ADA)
- Dash (DASH)
Final Thought
If you are comparing Webull vs Robinhood, Webull is better. Webull offers more features. When comparing it to larger brokers it still doesn't cut it with featuers.
About Webull
Webull provides an enjoyable community experience with a straightforward trading platform that will be attractive to most young investors. Webull does not offer any banking services, robo portfolios, or advisory services. Webull lacks the trading tools and features to compete with industry leaders who also offer $0 stock and ETF trades.