Webull Review 2022: Pros, Cons and How It Compares – NerdWallet

Where Webull shines

first gear cost : Webull ranks among the best in terms of costs, with not only exempt stock certificate trades, but $ 0-commission options trades and no per-contract fee, either. advance tools : Webull was built to be user-friendly for a mobile-first generation, but that doesn ’ triiodothyronine come at the expense of advanced graph and screener tools.

entree to cryptocurrency : few brokerages offer target entree to cryptocurrencies, but Webull presently has 11 available for trading. Appeals to a broad audience : In some ways, the company seems to have taken cues from modern forerunners like Robinhood, which appeal to new and casual investors who expect a great mobile experience and a clean, simplified desktop interface. But Webull is besides a hard choice for more progress active traders, offering in-depth chart, dozens of technical indicators, advanced orders, Level II grocery store data from Nasdaq, customization and more. All of this is packaged up in an approachable, streamlined platform.

Where Webull falls short

No common funds : If you ’ ra looking for the easy diversification of reciprocal funds, you wo n’t find them at Webull. Thin educational back : Webull is taking steps to offer more educational subject, but compared with other more establish brokerages, its educational resources are still lacking. Cash management : Webull offers no concern on uninvested cash, has no nonpayment fund for uninvested cash, nor any accessory bank or cash management intersection to make up for this, as some brokers do ( such as Ally Invest and Robinhood ). In other words, any uninvested cash will sit idle with no probability to grow. That said, many default brush concern rates are presently a measly 0.01 %, so in today ’ second climate, the line between offering interest on uninvested cash and not doing so is reasonably thin.

Webull is best for

  • intercede investors .
  • active agent traders .
  • Options traders .
  • Cryptocurrency traders .

Webull at a glance

Account minimum

$ 0 .
stock trading costs

$ 0 .
Options trades

$ 0 .
explanation fees ( annual, transfer, closing, inaction )

No annual or inaction fees ; $ 75 full/partial transfer fee .
Tradable securities

  • Stocks .
  • ETFs .
  • Options .
  • ADRs .
Crypto handiness

Webull offers access to 11 cryptocurrencies .
Number of no-transaction-fee reciprocal funds not rated .
deal platform

Browser-based and downloadable background platforms available with advanced charts, indicators, screeners and customization .
Mobile app

Mobile app offers advanced features including charts and indicators, paper trade, price alerts and voice command .
research and data

News, research and analysis available from Nasdaq Totalview, Thomson Reuters, Refinitiv, Lipper, OPRA ( real-time quotes available loose with one or more options trades per calendar month ), OTC Bulletin Board .
Customer patronize options ( includes how slowly it is to find key details on the web site )

24/7 earphone and e-mail, chat available in mobile app .

More details about Webull’s ratings

Account minimum: 5 out of 5 stars

There is no account minimum at Webull.

Stock trading costs: 5 out of 5 stars

Webull ranks high in terms of cost, with no account minimum and free trades on stocks, exchange-traded funds and american depository receipts.

Options trades: 5 out of 5 stars

Webull is among the few brokerages that offer free options trades. Customers aren ’ thyroxine charged a per-trade commission nor a per-contract fee.

Account fees: 3 out of 5 stars

One explanation tip you might want to watch out for is Webull ’ randomness remove fee. Whether you ’ re transferring all of your assets from Webull to another brokerage house or fair a few, you ’ ll be charged a $ 75 transfer fee. however, you won ’ thyroxine pay up any annual or inactivity fee at Webull.

Tradable securities: 1 out of 5 stars

Despite a robust offer for active agent traders, Webull lacks access to some common securities, such as reciprocal funds and bonds. For investors concerned in saving for retirement in an IRA, this could make it harder to truly diversify across assets traditionally found in a retirement portfolio.

Crypto availability: 5 out of 5 stars

Webull gives investors the ability to trade 11 cryptocurrencies. however, it ‘s significant to note that presently, users ca n’t send or receive coins to or from their Webull report. The only option is to sell for USD if you want to withdraw. While this does n’t affect Webull ‘s crypto mark when compared with other stock brokerages, it ‘s one reason Webull does n’t score a good on our roundup of the best crypto exchanges and platforms. Cryptocurrencies available on Webull include : Bitcoin, Ethereum, Bitcoin Cash, Litecoin, Dogecoin, Zcash, Stella Lumens, Ethereum Classic, Cardano, Dash, and Shiba Inu.

Number of no-transaction-fee mutual funds: Not rated.

Webull does not offer any common funds.

Trading platform: 5 out of 5 stars

New investors might be overwhelmed by the number of charts, graph, indicators and screens at their disposal, but thanks to the clear up interface, person with evening a little bit of know can cursorily start to figure it out. And this very is where Webull excels : marrying the minimalist look and feel the mobile-first generation is accustomed to with the capabilities of a more advanced merchandise. This besides helps Webull achieve the reasonably singular feat of creating a platform that bridges intermediate flat deal and promote trade, ushering users along their investment travel as they gain more know.

Mobile app: 5 out of 5 stars

Webull has a highly rated mobile app, which makes smell, considering it ’ s targeting mobile-first customers. Within the app, users can access advanced features, like charts and indicators, a paper trade report and spokesperson command functionality.

Research and data: 3 out of 5 stars

Webull doesn ’ metric ton offer a huge survival of third-party research, but it does provide newsworthiness, research and analysis from firm sources, including level 2 marketplace data powered by Nasdaq TotalView ( though this requires an extra subscription after a release 3-month trial ), Reuters, Refinitiv and Lipper.

Customer support options: 4.5 out of 5 stars

Webull offers 24/7 customer support via phone and e-mail.

Is Webull right for you?

If you ’ re a true founder, or if you ’ ve however to build a well-diversified, long-run portfolio, there may be other brokers better suited for you. however, if you ’ ve got an intermediate tied of experience, are concerned in active trade or are hoping to improve your trade skills through advance orders and technical analysis, Webull could be a dependable fit — particularly considering its low price period compared with brokers with similar offerings.

How do we review brokers?

NerdWallet ’ s comprehensive recapitulation process evaluates and ranks the largest U.S. brokers by assets under management, along with emerging diligence players. Our aim is to provide an autonomous assessment of providers to help arm you with information to make sound, informed judgements on which ones will best meet your needs. We adhere to strict guidelines for editorial integrity.

We collect data directly from providers through detail questionnaires, and conduct first-hand quiz and observation through supplier demonstrations. The questionnaire answers, combined with demonstrations, interviews of personnel at the providers and our specialists ’ hands-on research, fuel our proprietary appraisal process that scores each supplier ’ sulfur performance across more than 20 factors. The concluding output produces star ratings from poor ( one asterisk ) to excellent ( five stars ). Ratings are rounded to the nearest half-star. For more details about the categories considered when denounce brokers and our march, read our full methodology.

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