Webull is a mobile-first trading broker that offers zero-commission trading of stocks and options. The company offers a robust mobile trading app and has recently launched its first desktop trading platform. Is this broker suitable for your personal trading style? Read our in-depth review to find out.
Webull is an online broker that offers stock trading and options trading. The broker was founded in 2017 and has quickly become one of the leading trading firms. The company quickly made a name for itself as a zero-commission broker that competed with the incredibly popular Robinhood app. Like Robinhood, Webull is considered to be a “mobile-first” broker since the company’s core offerings are built around its mobile app. The mobile-first approach to investing is intended to make investing simpler and more accessible to the average investor/trader.
Webull has launched quite a bit of new initiatives since its launch in 2017. The broker now features a desktop trading platform and many advanced tools that you wouldn’t expect from a “mobile-first” trading broker. Is this app worth your time? Keep reading our Webull review to find out.
Webull Offerings and Pricing
Webull’s rise in popularity can be directly attributed to the company’s core offering: zero-commission trading. When Webull first launched in 2017, there was only one major “zero-commission” broker on the block (Robinhood). Webull gave Robinhood a run for their money by offering free trades, an easy-to-use mobile app, and some advanced tools that were not available at Robinhood.
Today, most online brokers have switched to the zero-commission model, but it appears that Webull is still thriving. We will have a closer look at the firm’s features, but first, let’s look at the pricing.
Webull’s pricing is straightforward – clients can trade stocks and options with zero commissions.
The average investor won’t incur any significant fees when they trade at Webull. If you are simply buying and selling stocks and options, you are good to go. You may pay small regulatory/transactional fees, but you are unlikely to notice them (i.e. a transaction fee of 0.0000221X your total trade value).
If you want access to active trading resources, you will incur fees as you would at any broker.
Margin rates range from 3.99%-6.99% and short selling fees vary by trade.
The Webull app is the star of the show. If you love the app, you’re likely to love Webull. If you don’t, you may prefer another broker.
Webull’s mobile app does a great job of keeping things simple without compromising resourcefulness. This is one of the main differences I’ve noticed between Webull and Robinhood. Robinhood offers a stripped-down, barebone offering that is intended to be super simple and easy-to-use. Robinhood’s simplicity, while appreciated by many beginner investors, comes at a cost. The app is missing a lot of the advanced trading tools you would expect from a broker.
Webull does a pretty good job of making their app easy-to-use while still providing access to advanced features. Let’s take a closer look.
Every trader and investor needs access to stock charts. That said, not all charts are created equally.
There are a variety of different chart types and technical indicators that may be included in an app.
Webull has excellent charting functionality for a mobile app. You can choose what type of chart you’d like to use, what timeframe you’d like to analyze, and what indicators you’d like to add to the chart.
Chart types include:
- And more
- 1 minute
- And more
Popular indicators include:
- Moving Averages
- Bollinger Bands
- And more
If you’re looking for a good mobile charting solution, Webull definitely delivers.
For most investors, brokers are the main source of market data. Good brokers will provide you with access to company data, market news, and more.
Webull has an impressive suite of research tools and data analyses. You can find everything you’d expect, such as:
- Price Data
- Company News
- Analyst Ratings
You can also find some tools that are unique to Webull, such as:
- Accounting Ratio comparisons
- Visual financial reports
- Order Flow Distribution
- And more
Webull has all of the tools you need to perform basic research on a company.
Webull’s mobile app comes with too many features to cover in a short review. If you have questions about any specific feature, feel free to leave a comment below.
Here are a few of the other noteworthy features:
- Watch lists
- Paper Trading
- Stock Market Scanners
- Advanced Order Types
- Price Alerts
- Trade Replays
- And more!
Here are a few of the stock discovery tools:
Here are a few of the market analysis tools:
Webull Desktop Trading Platform
As mentioned earlier in our review, Webull is a mobile-first trading broker. Realistically, if you’re going to choose Webull as your broker, you will primarily use the mobile app.
That said, Webull recently launched its desktop trading platform and it exceeded my expectations. The platform is available for both Mac and Windows so it is accessible to all investors.
Like the mobile app, the desktop app is easy-to-use but does not sacrifice power. You will find all of the same features as the mobile app and then some.
While the desktop app is unlikely to cut it for highly active day traders, it’s a great platform for casual investors and traders (more on this later in the review). Key features include:
- Order Entry
- Research tools
- And more
Who is Webull Best For?
By this point in our Webull review, you should have a good understanding of what the company offers. The two main benefits are:
- Cost (or lack thereof)
Webull offers commission-free trading and easy-to-use investment tools. Of course, every trader/investor is unique, so it’s important to consider your personal trading style before signing up for Webull.
I’ve personally tested almost every mainstream broker and I’ve partaken in day trading, swing trading, options trading, and penny stock trading. Here are my thoughts on who Webull is best for.
Is Webull Good for Investors?
Webull is a great option for investors. The app is easy-to-use and trading is free (zero-commission). There are plenty of great research tools and stock analysis tools in the app, and you can use the desktop platform if you prefer to analyze stocks on your computer.
Is Webull Good for Day Traders?
Webull is not intended for active day traders. The keyword here is, “active.” If you’re watching the market 6+ hours/day and placing multiple intraday trades, you will likely need a broker that caters specifically to active traders. Webull is designed for simplicity and active traders are anything but simple. If you place a few trades per week, Webull may be a suitable option.
Is Webull Good for Penny Stock Traders?
Webull is an acceptable broker for penny stock trading, but there will be some limitations. Many penny stocks are unavailable to trade at Webull. For example, you can’t trade most penny stocks that are priced at under $0.01/share. This narrows out OTC sub-penny stocks.
You can, however, trade “cheap” stocks. You shouldn’t have issues trading stocks that are between $1-$5, and you can trade stocks between $0.01-$0.99 with certain order minimums. Here is the official chart:
Is Webull Good for Short Sellers?
Webull is not designed for active short sellers. If short selling is a major component of your trading strategy, you will get more value out of another broker. If short selling is only a small part of your strategy, Webull may be suitable. You won’t have an issue shorting big companies like Apple and Google. You can also purchase put options if you are an options trader.
How Does Webull Compare to Other Brokers?
It should be clear that Webull has a solid offering and can be a great broker for investors and casual traders. How do they stack up to the competition? Let’s take a look!
Webull vs. Robinhood
Webull is most frequently compared to Robinhood. Both companies made their name by offering zero-commission trades and simple trading apps. Which one is better? There are two things to consider.
Which do you value more: simplicity or features? If you are looking for an easy way to buy and sell stocks and you don’t care about anything else, you may be content with Robinhood. Robinhood is arguably the “simpler” app of the two. That said, Webull offers way more features and it is still incredibly easy to use.
Do you plan on trading cryptos? As of now, Webull doesn’t offer crypto trading. The company has plans to launch it soon, but it is not an option at the moment. If you plan on trading cryptos, Robinhood is a better option for you.
Ultimately, I think Webull is WAY better than Robinhood. I’ve used both apps extensively and the only thing Robinhood has over Webull is its simplicity. Webull offers way more features and resources at no additional charge. If I had to choose between the two, Webull would win by a longshot.
Webull vs. Traditional Brokers (Etrade, TD Ameritrade, Schwab, etc.)
The alternatives to Webull and Robinhood are traditional discount brokers. Popular brokers include Etrade, TD Ameritrade, and Charles Schwab. So, how does Webull compare?
If you asked me a year ago, I’d say Webull takes the cake since they offer zero-commission trading. Discount brokers used to charge anywhere from $6.95-$9.95 per trade, which could quickly add up. Now, all of these brokers have made the switch to commission-free trading, which makes the comparison more difficult.
If simplicity and ease-of-use is your thing, choose Webull.
If you prefer having access to advanced trading tools and research, you are likely to prefer a traditional discount broker.
Active traders are likely to prefer a specialized broker like TradeZero, CenterPoint, or Lightspeed.
Webull Review: Final Thoughts
Overall, Webull is a great mobile trading app and online broker. The trading platforms are easy to use, the fees are minimal (pretty much nonexistent), and the platform offers a lot of valuable resources.
Webull is easily the best option for traders looking for a mobile-first brokerage. If you prefer advanced tools, you may prefer a traditional broker, but you shouldn’t count Webull out right away either. The company continues to innovate and launch new tools regularly. I’m excited to see what’s in store in the future and will update this review as needed.