Webull 2023 Direct Access to Trade 44 Cryptocurrencies. First-Generation Mobile App. Technical Analysis. Trading Stocks, ETFs, and Options.

3 min read

Webull is a financial services provider and community-driven, mobile-focused online broker. Alongside Webull’s unique social community features — which won it the Investor Community award in the 2022 Annual Review — the first-generation mobile app is well-designed and very easy to use.

The Webull team has extensive experience in technology and financial services and strives to provide reliable and intelligent products and services to empower self-directed investors.

The Webull Belief

Individuals are essential to the market and should be empowered with better information, tools, services, opportunities, and lower costs. Respecting the investor is respecting the market.

Technology is the investor’s best friend, vastly expanding human trading capabilities in terms of time, scale, and technique. Technology is the future.

Where Webull excels.

Webull ranks among the best in costs, with free stock, options trades, and no per-contract options fee.

Advanced tools: 

Webull was built to be user-friendly for a mobile-first generation, but that comes at something other than the expense of advanced charting and screener tools.

Financial Fee Schedule

Webull believes that technology empowers traders to be more profitable, helping grow our user’s economic freedom. Technology also enables us to provide transparent and straightforward prices with 0 commission trades and no deposit minimums.

Webull makes money as every other broker, but with one less revenue line item: commissions. To keep operational, they optimize the back-end revenue streams that every other broker (traditional or non) utilizes to generate revenue. These are stock loans, interest on free credit balances, margin interest, and payment for order flow.

Stocks, ETFs, and Options on Webull are commission free, except for specific index options, which are assessed as a contract fee. Relevant and regulatory and exchange fees also apply. If you make a margin trade and hold the position overnight, you will be charged margin interest.

Webull charges no commission for trading stocks, ETFs, and options. While most brokers charge $0.65 – $0.75 for option contracts, Webull charges $0. Webull makes money from margin lending, cash balance interest, and order flow payment. 

Almost all brokers, except for Fidelity, sell your order flow to wholesale market makers because it’s one of the only ways to directly offset the costs of offering $0 trades.

There are five main areas of fees associated with Webull accounts, and each one represents unique and different account offerings. While all areas are commission free, there are still costs associated with trading. 

The five high-level fees are listed below. 

1. Stocks/ETF Trading Fees

2. Stock Options Trading Fees

3. Margin Interest

4. Level II Market Data Fees

5. Miscellaneous Fees

Webull has stated that the platform does not profit from any regulatory fees on company platform. However, other fees like margin interest are fees that Webull has enabled to make a profit. 

Webull does not create many commission fees, but regulatory fees are passed onto the customer. It is important to note that these regulatory fees do change. 

Access to cryptocurrency: 

Few brokerages offer direct access to cryptocurrencies. The Webull company provides to new and casual investors who expect a great mobile experience with a clean, simplified desktop interface.

However, Webull is also a strong choice for more advanced active traders, offering in-depth charting, dozens of technical indicators, progressive orders, market data from several sources, customization, and more. All of this is packaged up in an approachable, sleek platform.

Crypto offering: 

Webull gives investors the ability to trade cryptocurrencies. However, it’s important to note that users can’t send or receive coins to or from their Webull account, and the only option is to sell for USD if they want to withdraw. 

Webull does not charge for trading cryptocurrencies, and there is a 100-basis point spread on either side of a crypto trade.

Cryptocurrencies available on Webull include: 

Bitcoin, Bitcoin Cash, Ethereum, Litecoin, Dogecoin, Stella Lumens, Ethereum Classic, Cardano, Shiba Inu, Basic Attention Token, Chainlink, Uniswap Protocol Token, Algorand, Polygon, Sushi, Avalanche, REN, Solana, Cosmos, Decentraland, Fantom, The Graph, CurveDAO Token, Loopring, Tezos, USD Coin, Aave, Crypto.com Coin, yearn.finance, Apecoin, Chiliz, Synthetix, Gala, BNTUSD, COMPUSD, ENJUSD, Maker, FILUSD, ICPUSD. 

The complete list can be found on the Webull website. 

Trading platform: 5 out of 5 stars

New investors might be overwhelmed by the number of charts, graphs, indicators, and screens at their disposal. Still, thanks to the straightforward interface, someone with little experience can quickly start to figure it out.

And this is where Webull excels: marrying the minimalist look and feel the mobile-first generation is accustomed to with the capabilities of a more advanced product. 

It also helps Webull achieve the somewhat unique feat of creating a platform that bridges intermediate-level and advanced trading, ushering users along their investment journey as they gain more experience.

Mobile app: 5 out of 5 stars

Webull has a highly rated mobile app, which makes sense, considering it’s targeting mobile-first customers. Users can access advanced features within the app, like charts and indicators, a paper trading account, and voice command functionality.

Research and data: 4 out of 5 stars

Webull doesn’t offer a vast selection of third-party research, but it does provide news, research, and analysis from solid sources, including Nasdaq TotalView, Morningstar, CBOE, Dow Jones, and NBBO. 

Customer support options: 4.5 out of 5 stars

Webull offers 24/7 customer support via phone and email and an easily-navigable website. Its educational support offerings, however, are limited.

Is Webull right for you?

Even though there are fees on the trading platform, the regulatory fees are often minimal. Retail investors typically only see a few cents of charge on their trades because of these fees. To learn more about how these fees can impact your portfolio.

Other brokers may be better suited for you if you’re a beginner or have yet to build a well-diversified, long-term portfolio. However, if you’ve got an intermediate level of experience, are interested in active trading, or are hoping to improve your trading skills through advanced orders and technical analysis, Webull could be a good fit — especially considering its low price point compared with brokers with similar offerings.

For an invitation to Buy US Stocks and Earn Free Shares, head to https://bit.ly/webullreview

Reference Source 

https://www.webull.com/

https://www.nerdwallet.com/reviews/investing/brokers/webull#best

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