Webull's commission-free trading and no minimum deposit requirements give newbies a platform to trade without high fees eating into their balances. Beginners can also develop trading skills through the demo account without risking their money. Active traders should find its advanced charts, indicators and screeners attractive. That said, long-term investors looking for a tax-advantaged account might be drawn elsewhere.
What you can trade on Webull
- US Stocks and ETFs
- Australian Stocks and ETFs (ASX and Cboe)
- US Options
- Hong Kong stocks
- Chinese A-Shares
Where Webull shines
Webull has some of the lowest fees in the industry, including no minimum deposits and zero commissions on ASX and US option, stock and ETF trades for the first month. Plus there are no annual or inactivity fees. Fractional trading gives investors access to thousands of companies that might otherwise be out of reach. Webull also offers margin accounts.
Where Webull falls short
Webull gets negative feedback from clients for a lack of quality customer service and for a slow money transfer process. If you're looking to invest in Australian equities or assets like managed funds, futures, bonds or forex, you'll be forced to look elsewhere as these aren't offered by Webull.
You pay $0 commissions on ASX and US stock and options trades for the first 30 days after opening your account.
US stocks and ETFs: For stocks and ETFs, there is a commission charge of US$0.00025 X total trade amount for US stocks. All "Sell" trades incur a regulatory transaction fee of US$0.000008 X Total Trade Amount (min. US$0.01) plus a trading activity fee of US$0.000145 X total trade volume (min. US$0.01; max. US$6.49 per trade).
Australian stocks and ETFs: For trade sizes up to $16,353, you pay $4.90 per trade. For all other trades, pay $0.0003 X Total Trade Amount.
US Options: There is a commission charge of US$0.50 X no. of contracts. All "Sell" trades incur a regulatory transaction fee of US$0.000008 X total trade amount (min. US$0.01) plus a trading activity fee of US$0.00244 X total trade volume. All options trades also incur an options regulatory fee and a clearing fee.
Hong Kong stocks and ETFs: $0.0003 x Trade Value (Min $15).
Chinese A-Shares: $0.0003 x Trade Value (Min $15).
Webull doesn't charge customers any bank transfer fees for deposits or withdrawals, but there is a US$1 international wire deposit charge and a US$7 international wire withdrawal charge as well as a foreign exchange transfer fee of 50 basis points.
Is Webull legit?
Yes, Webull is a legitimate fintech. It started out in 2017 in the US and is registered with the Securities and Exchange Commission (SEC), the Financial Industry Regulatory Authority (FINRA) and the Securities Investor Protection Corporation (SIPC). With its launch into Australia, it is now also licensed under ASIC (Australian Securities & Investments Commission).
Webull's platform is easy to use
Here are some of the tools you can use to trade with on Webull:
- Stock watchlist
- Paper trading simulator
- Market data
- Nasdaq TotalView
- Educational videos
Webull offers a powerful mobile app that lets you manage your portfolio on the go. Stay across positions and consolidate watchlists, analyse charts and place orders. Create your own screener and monitor what you want by market cap, prices, percent changes, volume, turnover rates and listing dates.
Webull's desktop tools
Webull traders have access to the platform's comprehensive suite of research and analysis tools. And its platform is intuitive and can be customised to suit your needs. Webull beginners can also practise trading online with the demo account without investing any money.
Webull's app store reviews
|Google Play app reviews||4.3/5 stars, based on over 150 reviews|
|Apple App Store app reviews||4.3/5 stars based on over 240 ratings|
Webull's customer support
Connect with Webull in 3 ways:
- Email support
- Secure message via app
How to open an account with Webull
- Hit the "Sign up now" button above (you can also download the Webull app for Android or iPhone).
- Select the "Open account" tab, then "Open account".
- Enter your personal information, employment details and investment specifics.
- Upload a photo of your ID to verify your identity.
- Answer questions about your affiliations, then agree to account terms and disclosures.
- Choose your account type, verify your email and submit your application.
Sign up now