So you want to start investing in stocks? Well lucky for you there is Webull!
If you have been following The Savvy Couple for some time you know we cannot stress how important it is to invest your money and start making streams of passive income.
In our Webull review, we are going to cover everything you need to know about getting started Webull and how to make the most out of Webulls platform.
When you open a Webull account today, you’ll get up to two free gifts of stocks!
One free stock is valued from $2.50 to $250 when you set up your Webull brokerage account and another is valued from $12 to $1,400 when you deposit $100 or more.
Click here to set up your account and grab your two FREE stocks.
Who is Webull?
Webull is a mobile trading app that offers free stock trading.
Founded in 2017, launched in 2018, and based in New York City, Webull provides completely free trading in thousands of stocks in ETFs.
Webull specifically targets more intermediate to advanced traders, particularly technical traders, as it offers a wealth of tools for technical analysis.
“Webull believes that everyone should have an equal opportunity to control their own financial future,” said Denier, in a press release. “This is why we have created a professional-level informational and trading platform that previously was only available to professionals or the super-wealthy. Webull strives to keep its vast depth of news, real-time market data, analysis tools, and trading commissions completely free. We pride ourselves on continually improving our platform and bringing exciting and useful tools to help everyone make smarter financial decisions.”
The mobile app can be downloaded to Apple and Android devices. They also offer a desktop version of their platform that can be reached on any web browser.
No money is required to open an account, but there is a $2,000 minimum for margin accounts to access leverage and shorting and $25,000 for unlimited day trading.
The company is privately owned and funded by venture capital. But it already has a massive user pool of over 10 million users.
How Does Webull Work?
Minimum initial investment: $0 for a Cash Account, or $0 to $25,000 for a Margin Account, depending on features and functionality you want access to.
Account types available: Individual taxable accounts and traditional, Roth, and rollover IRAs.
Available investments: Stocks and exchange-traded funds (ETFs). You cannot trade foreign stocks.
Geographic availability: United State of America
Clearing agent: Apex Clearing.
Trading hours: Regular market trading hours, as well as pre-market hours (4:00 am to 9:30 am) and after-hours (4:00 pm to 8:00 pm), all times Eastern.
Mobile App: Available for both IOS and Android devices.
Customer service: Support can be contacted by email, live help in-app and by phone.
Account protection: Provided by the Security Investors Protection Corporation (SIPC) for up to $500,000 in securities and cash, including up to $250,000 for cash.
How To Open A Webull Account? Webull’s Free Stock Bonus
Webull is currently giving new users a gift of up to two free stocks.
First, you can get one free stock valued from $2.50 to $250 if you open a Webull brokerage account.
Second, you can get another free stock valued from $12 to $1,400 if you initially deposit at least $100.
Click here to set up your account and receive your FREE stocks now.
Webull Pros. Vs. Cons
- Free trading
- Thousands upon thousands of stocks
- No deposit minimums
- Free to open and maintain an account
- Full extended hours trading
- In-depth analysis tools
- Free access to Webull Desktop dashboard
- Customer support 24/7
- Not for beginners
- Newer trading app with less history
- Limited trading app
- Only available for U.S. residence
What Does Webull Offer?
Features that most brokerages charge for are absolutely free with Webull. Which is one of the reasons we really love the platform.
News, real-time market data, analysis tools, and trading commissions are all free. There are a few features that do come with a fee, which I will talk about in further detail below.
The following features are all included in the app.
- Exponential moving averages
- Bollinger Bands
- Money Flow Index
Investment research tools:
- Press releases
- Analyst recommendations
- Historical EPS
- Revenue data
- Insider holdings and transactions
- Financial calendars
- Stock screeners
- Watchlist and alerts
Misc features you won’t find on larger platforms:
- Margin trading
- Extended-hours trading
- Customer service (email, chat, phone)
From our experience, Webulls customer support is top-notch. Anytime we have reached out we have gotten prompt help and guidance right away.
How is Webull Different From Robinhood?
As you have been reading through this Webull review, you’re probably thinking that Webull sounds very similar to Robinhood.
And you are right they are very similar but there are a few key differences that I want you to be aware of.
Robinhood is for the total beginner, which many of our readers love, but as you get more into trading, you’ll find that Robinhood is lacking a lot of tools to make well-informed investment decisions.
Webull offers an intuitive trading simulator which is an amazing feature that Robinhood lacks.
Webull’s trading simulator called Paper Trading in their app. With the trading simulator, you can use simulated money to play around with the trading platform, and get familiar with the design and tools of the app.
What Are Webull’s Fees?
All trading is commission free like we mentioned above.
There are a few premium features that do have a fee associated with them. You can review all of those features here.
Is Webull Safe and Legitimate?
Webull is registered and regulated by the (SEC) Securities and Exchange Commission and the (FINRA) Financial Industry Regulatory Authority.
Webull is also a member of the SIPC which protects securities customers of its members up to $500,000 (including $250,000 for claims for cash).
Should You Open an Account With Webull?
If you’re looking to get started trading stocks, Webull has an awesome signup bonus with two free stocks along with unlimited commission-free trading.
There are only a select few platforms offering commission-free trading currently. On top of that their app is robust and packed full of features to help guide you with your investments.
However, if you’re looking for a long-term investment strategy and platform we believe Betterment is a better option.