Webull Review 2022: What It Is and How It Compares

Webull Review

Webull Broker has the lowest brokerage fees and offers advanced trading tools. The low costs may make it not the best broker for beginners.

Pros & Cons

Pros

  • Low costs
  • Easy-to-use platform.
  • Advanced tools
  • Access to cryptocurrency

Cons

  • There are no mutual funds.
  • Very little support for education.

Webull shines

Low cost. Webull ranks amongst the top in terms of costs. Webull has no minimum stock trades but offers $0-commission options and trades with no per-contract fees.

Advanced tools: Webull has been designed to be intuitive for mobile-first generations, but this does not mean Webull doesn’t have advanced charting or screener tools.

Access to cryptocurrency

Attracts a broad audience. The company appears to have taken cues from Robinhood, which appeals primarily to casual investors.

Webull is an excellent choice for active traders who want in-depth charts, advanced order management, advanced market data, customization, and Level II market data. All of this is available in an accessible, modern platform.

Webull fails where it counts

Webull does NOT offer mutual funds.

Webull has very limited educational support. While Webull is trying to increase its educational content, the company still falls behind established brokerages.

Cash management: Webull has no interest in cash that isn’t invested, no default fund for cash that isn’t invested, and no ancillary products for cash management or banking to compensate. The bottom line is that uninvested cash will not grow.

Even so, default sweep rates are currently at a paltry 0.1%. In today’s climate, it is hard to tell the difference between offering interest on cash that has not been invested and not.

Webull is the best!

  • Intermediate investors
  • Active traders.
  • Options traders.
  • Cryptocurrency traders

Webull at a glance

Account minimum – $0.

Stock trading costs – $0.

Options trades – $0.

Account fees (annual, transfer, closing, inactivity)

There are no annual inactivity or fees. A $75 full/partial transfer fee is required.

Tradable securities

  • Stocks.
  • ETFs.
  • Options.
  • ADRs.

Crypto availability

Webull allows you to access 11 cryptocurrencies.

There are many mutual funds with no transaction fees

Not rated.

Trading platform

You can choose between downloadable and browser-based desktop platforms with customizable screens and advanced charts.

Mobile app

The mobile app features advanced features like charts and indicators, paper trading, and price alerts.

Research and data

News, research, and analysis from Thomson Reuters, Nasdaq TotalView, Refinitiv, Lipper, OPRA (real-time quotes available for free with one to three options trades per calendar month), and OTC Bulletin Board.

Customer support options (includes how simple it is to find key details via the website)

Chat in the mobile app, phone, and email is available 24 hours a day.

Read Pepperstone Review on Google Site.

Webull’s Ratings – More Details

Minimum account: 5 stars

Webull doesn’t have a minimum account.

Stock trading costs: 5 of 5 stars

Webull has a high-cost rating. There is no minimum account requirement and free trades for stocks, exchange-traded funds, and American depository receipts.

Options trades 5 out of 5 stars

Webull is one of the few brokerages that provide free options trades. Customers don’t have to pay per-trade commissions or per-contract fees.

Account fees are 3 out of 5 stars

Webull’s Transfer Fee is one account fee you may want to pay attention to. Transfer fees of $75 will apply to all transfers from Webull to other brokerages, regardless of how many. However, there is no annual fee or inactivity fee at webull.

1 of 5 stars for Tradable Securities

Webull is a good option for active traders. However, it lacks common securities like mutual funds and bonds. This could make it harder for investors to fully diversify assets in an IRA that they have saved for retirement.

Crypto availability: 5/5 stars

Webull lets investors trade 11 cryptocurrencies.

However, Webull users are unable to send or receive any coin to or from their Webull accounts. To withdraw your funds, you can only sell USD for the coins.

It doesn’t have an impact on Webull’s crypto score in comparison to other stock brokers, but it is one reason Webull does not score well on our review of the best crypto platforms and exchanges.

Webull has cryptocurrencies that include Bitcoin, Ethereum, Bitcoin Cash, and Dogecoin.

Number of mutual funds that do not charge a transaction fee: Not rated

Webull doesn’t offer any mutual funds.

Trading platform: 5 of 5 stars

New investors might feel overwhelmed by all the screens, charts, and indicators at their disposal.

But, with a clear interface, even someone with little experience can quickly get it figured out.

Webull’s unique approach combines the simplicity and elegance that mobile-first generations are used to with advanced features. Webull’s unique platform bridges intermediate trading and advanced trading. As users gain more experience, they can navigate their investment journey.

Mobile app 5/5 stars

Webull has a highly-rated mobile app. It makes sense as it is designed for mobile-first customers. Access to advanced features such as charts and indicators as well as voice command and paper trading accounts are all available through the app.

Research and data are 3 out of 5 stars

Webull doesn’t have a wide selection of third-party data, but it does offer news, analysis, and research from trusted sources.

Customer support options: Rated 4.5 out of 5 stars

Webull provides 24-hour support via email or phone.

Is Webull the right choice for you?

Other brokers may be more suitable for you if your trading skills are limited or you are a beginner. Webull might be a good choice for those with intermediate trading experience and are interested to trade actively.