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Webull Review and Rating 2024

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Webull is a new broker that offers commission free trading. It's been around for less than a year and it has already become popular among traders who want to buy stocks, ETFs, Options, and Cryptocurrencies without paying any fee. Webull also provides live market data such as the latest news headlines from CNBC, NASDAQ quotes, and up-to-date currency rates. This review will outline pros and cons of Webull so you can decide if it's worth your time before signing up!


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This Webull Review article is a comprehensive guide to Webull broker. We will take you through all the features of this platform, including how it works, its pros and cons, and more. You can also find out where to sign up for a Webull account with them so that you can see for yourself what they have to offer. AtoZ Markets is in no way held responsible for any opinions made by the writer in this article.

How to Open a Webull Account

Webull has a long process of account opening. Let's have a look.

Go to and click on 'Get Started'. In the next page, you have to put your phone number and send verification code to your phone.

Webull review

On the next page, you have to submit your proof of identity. They accept Passport, Driver License, State ID. Select your ID type and upload the front and back side of your ID and click on the 'Continue' button.

On the next page, you have to give your personal details such as, First name, Last name, Gender, Date of Birth, Marital Status, Number of Dependents, ID Number, ID Expiration Type (Limited/Permanent), ID Expiration Date, SSN/ITIN, Citizenship, Phone Number, Permanent Address and Mailing Address. Then click on 'Continue'.

On the next page, you have to give your employment information. Then click on Continue.

On the next page, you have give answers to some questions about your investment and financial information. Once done, click on Continue.

On the next page, you have to give answers to the following questions about your affiliation.

Webull review

image source: Webull


Then click on 'Continue'.

Now you have to choose the Webull account types you want to open. They have two account options. 1. Margin Trading Account 2. Cash Account

You can also select 'Stock Lending Income Program' along with any of the account types. Then click on the 'Continue' button.

On the next page, you have to accept agreement and disclosure by giving an e-signature. On the next page, you have to agree that all the information you provided is correct. Then you have to verify your email address and submit the application for verification.  After the approval of your Webull account, you will be able to deposit funds for trading.

Webull Review: Webull Account Types

Webull offers only two types of accounts. 1. Cash Account 2. Margin Trading Account.

Cash Account

Cash accounts are a kind of brokerage account in which the client has to pay for the entire amount of securities bought. In simple terms, in the case of a cash account, the cash is your purchasing power. You can't borrow money to make trades.

Margin Trading Account

Margin trading accounts are a type of brokerage account that allows investors to make use of the funds and securities they already have to acquire additional securities. It offers a wonderful opportunity to increase the value of your investment and boost your returns. However you run the risk of doubling your losses. Margin brokerage accounts can be a risky investment. Margin brokerage accounts let you increase the amount of funds as well as Securities that you already have to buy additional securities. There are two types of purchasing power: Day-Trade-Buying Power (DTBP) and overnight buying Power (ONBP).


Account Type Net Account Value Day Trade Margin Trade Short Selling
Cash Account Unlimited Not Applicable Not Available Not Available
Margin Account $0-2000 Allowed for 3 day trades in 5 business days Not Available Not Available
Margin Account $2000-25000 Allowed for 3 day trades in 5 business days Day trade: Allowed up to 4 times

Overnight:Allowed up to 2 times

Margin Account > $25000 No Limitation Available



Webull Review: Products

Webull offers a variety of products that investors can use to grow their portfolios. Let's take a look at some of the most popular ones:

- Trading Stocks: With Webull, you can buy and sell stocks for free. There are no exchange commission or fees charged on stock trades. This is a great option for those who are looking to get started in the stock market!

- ETF Trading: You can also trade exchange-traded funds (ETFs) on the Webull platform. Again, there are no exchange commission or fees charged on these transactions. This makes it a cost-effective way to invest in a range of different securities!

- Options Trading: If you're interested in options trading, Webull has you covered. You can trade options contracts for free, and there are no exchange commission or fees charged on these transactions. This makes it a great choice for those who want to get started in this type of investment!

- Cryptocurrency Trading: Finally, Webull offers cryptocurrency trading also. You can buy and sell cryptocurrencies like Bitcoin, Ethereum and Bitcoin cash for free, and there are no exchange commission or fees charged on these transactions. This makes it a great option for those who want to invest in digital currencies!

Webull don't have Forex and Futures for trading.


Webull Review: Pros and Cons

● Pros

Cost-effective: Webull ranks among the top in terms of price and offers not just free stock and ETF trading, but also commission free trading with no cost per contract as well.

Advanced Tools: Webull has been designed with the intention of being user-friendly to a mobile-first generation. However, this doesn't mean that it comes with the cost of sophisticated screener and charting tools.

Cryptocurrency: Only a few brokerages have direct access to cryptocurrency trading, however Webull offers 11+ cryptocurrency including Bitcoin cash available to trade.

Attracts a Broad Range of Customers: Due to its simple to utilize Mobile app This broker will appeal to beginners and investors looking for a superior mobile experience, as well as a simple and simple desktop interface. The broker is also considered a good option for more experienced active traders. They offer deep-dive charting, numerous technological indicators and advanced order market data of Level II from Nasdaq as well as customization options and. All this is wrapped into a user-friendly, elegant platform.

Simple Account Opening Process: Webull account opening process only takes a couple of minutes. The account will be approved or options approved quickly, and it takes only two additional minutes to sign up for the bank account to your existing one and establish the free ACH transfer. After the transfer has been completed, you will be able to be granted buying power on the account , even when the transfer of funds may not be completed for some days.

Easy to Use Platforms: Its mobile and desktop application platforms are fairly new, which means that it has a fresh user interface that is intuitive and simple to use. It is packed with useful tools to trade, particularly when you consider that the tools are all completely free for the user.

● Cons

No Mutual Funds: Mutual funds are not available If you're searching for the simple diversification of mutual funds, they won't be found at Webull.

Lack of Educational Support: Webull is making efforts to provide more educational content However, when compared with better-known brokerages education tools aren't up to par.

The Management of Money: Webull offers no interest on cash that is not invested, and has no default cash fund for cash that is not invested and no extra cash management or banking product to cover this, like certain brokers offer.  That's right any cash that has not been invested will remain in a state of inactivity without any chance of growing. In reality, default-swap interest rates are currently at a low 0.01 percent, which means that in this current situation, the line in between offering interest rates on cash that isn't invested or not is very thin.

No Forex and Futures: Webull doesn't offer forex and futures to its customers.

Limited Account Types: Webull only offers two types of account whereas most stock brokers offer a wide variety of account types.

No Live Chat Option: Webull website doesn't have any live chat support. At least not available for unregistered users.

Webull Review: Rate and Fees

  • Annual Margin Rate

Webull offers the possibility of up to 4x purchasing power and 2x overnight purchasing power when you have a Webull account with a margin. It is necessary to have at least $2,000 in order to qualify.Interest in margin-based trading are calculated daily and is paid on an annual basis. The margin rate can be dependent on the amount of the loan.

Annual Margin rate of Webull ranges from 3.99% to 6.99% depending on your debit balance.

  • Fees Charged By Regulatory Agencies & Exchanges

Webull offers commission free trading for stock and ETF trading as well as options at U.S. exchanges. The fees, however, are used by some regulators. Some of them are transferred from brokers to customers in a pass-through transaction. Webull is not a profit-maker from these charges.

Stocks and ETF trading

Regulatory Transaction Fee: $0.0000051*Total $ Trade Amount (Min $0.01). Sell Only

Regulatory Fee (FINRA): $0.00013 * Total Trade Volume Min $0.01 per - Max $6.49 per. Sell Only.

Also Read: Webull Vs Robinhood Comparison


Regulatory Transaction Fee: $0.0000051*Total $ Trade Amount (Min $0.01). Sell Only

Trading Activity Fee (FINRA):  $0.00218 * No. of Contracts (Min $0.01). Sell Only

Options Regulatory Fee: $0.02135* No. of Contracts. Buy & Sell

Clearing Fee: $0.02 * No. of Contracts (Max $55 per Trade). Buy & Sell

  • Index Option Fees

Fees for Exchange Proprietary Index Option ranges from $0.00 to $0.66 depending on ticker and tier schedule.

Deposit & Withdrawal Fees

ACH Deposit and Withdrawal from U.S Bank Account Fee is ZERO.

Deposit by Wire Transfer from U.S Bank Account fee is $8 per deposit.

Withdrawal by Wire Transfer from U.S Bank Account fee is $25 per withdrawal.

Deposit by Wire Transfer from Non U.S Bank Account fee is $12.5 per deposit. (International)

Withdrawal by Wire Transfer from Non U.S Bank Account fee is $45 per withdrawal. (International)

Stock Transfer Fees

Incoming transfer to Webull fee is zero (Apex Clearing Firm)

Outgoing transfer from Webull fee is $75 per Outgoing Stock Transfer (Apex Clearing Firm)

For transfer through Contra Broker, you have to contact them for fee details.

Webull Review: Trading Platforms

Webull has desktop, mobile and web based trading platforms.

  • Desktop Platform

Webull desktop platform

image credit: Webull

Webull desktop platform comes with powerful, simple-to-use trading tools.

You can configure customized buttons to suit your preferences when ordering as well as hotkeys for placing orders in just one click.

You can easily alter or cancel orders from charts so that you can take immediate action in the event of market fluctuations.

It is equipped with an extremely powerful price Ladder widget that allows you to actively trade in the Price Ladder.

Order Entry widget Order Entry widget allows you to make equity-based orders, both group and single orders, options orders as well as multi-leg strategies.

You can modify layouts and widgets to create your own trading platform.

It is cross-platform compatible for Windows, Mac, and Linux and supports multi-screens and high-performance.

Webull offers intuitive and powerful charts, a variety of indicators for technical analysis, and a variety of advanced options for real-time market data (Nasdaq Basic, Nasdaq TotalView and NBBO) to assist users study trends, companies and organizations and the latest trading possibilities.

  • Mobile App

Webull mobile app

image credit: Webull

Webull has a highly-rated mobile app with 10 million downloads on Google play store, given that it's designed to appeal to mobile-first consumers. In the app, users can gain access to more advanced features including indicators and charts as well as a paper-based trading account, as well as the ability to speak commands. They have both Android and iOS apps.

  • Web Platform

You can use the Webull app in your favorite web browser. The integration of web pages makes this an option for trading that is flexible. You can use Webull through any browser on the internet.

Is Webull a Regulated Broker?

Webull is a well regulated and licensed broker in the United States. Webull Financial LLC is a broker-dealer licensed by the Securities and Exchange Commission (SEC) and is an affiliate of Financial Industry Regulatory Authority (FINRA) as well as the Securities Investor Protection Corporation (SIPC). The corporate headquarters for Webull Financial LLC is located at 44 Wall Street, New York, NY, USA.

Customer Support of Webull

Customer support

Webull doesn't have many options for customer support. There is no live chat support option on the website. They have FAQ pages to answer some of your questions. And for contact, they have a mobile number and email address.

+1 (888) 828-0618

Conclusion: Is Webull a Scam?

No, Webull isn't a scam broker. While it is a relatively new broker in comparison to other established brokers, your money is secure and protected by Securities Investor Protection Corporation (SIPC).

Webull is a great option especially for advanced to intermediate investors. It also helps novice investors to learn more about investing with their informative sources and sophisticated analysis tools.

In the end, if you decide to start making investments in Webull, you can be assured that your investment is as secure as any other broker-dealer due to the SIPC insurance for your investment and the cash held in your investments accounts.


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