There can be a lot of different brokerages to choose from when you’re opening an investment account. There’s TD Ameritrade, Robinhood, Betterment, Ally, E-Trade, Charles Schwab, Stash, and plenty more. However, there’s a new platform that some investors are flocking to…Webull. In this Webull Review, we will learn about their zero commission trading and other features.
We want to help you understand if Webull’s platform is right for you. What they offer and who their platform is geared towards. This is our Webull Review.
Webull Review, What Is Webull?
Webull is a new investment trading platform that roots its foundation in being customer-oriented and maximizing the use of technology and the internet. Their philosophy is that, in today’s financial markets, the individual is often overlooked. There are so many big corporations, hedge funds, and other institutional investors that the common man (or woman) gets left out of investing. They want to change that.
By putting the power back in the individual’s hands, Webull wants to give you the same insight and access that the professionals have. Above all, they want to give you the proper technology and information you need to earn the gains you want for free.
The Webull promise is that they will offer an all-in-one investment platform to provide a top-notch user experience and offer advanced tools and services. Let’s take a look at some of the pros and cons of the Webull platform.
Webull's Free Stocks
Webull currently has a sign-up promotion for new users, after signing up, make an initial deposit of $100 or greater and Webull will give you two free stocks. The stocks are worth up to $1600 each!
On the same note of putting power back in the consumer’s hands, Webull has a unique incentive for signing up. Webull is willing to offer you not one but two stocks. You heard that right! If investing is something that you’ve thought about starting, dreamt about, or just began considering then there is no time like the present to start. Webull is offering you two free stocks when you open an account and deposit as little as $100. These stocks will be randomly selected and there is a chance that they could even be worth more than your deposit!
It is a testament to their confidence in their platform that they’re willing to offer two stocks just for signing up.
Now, let’s take a look at some of the advantages of using Webull.
- Zero Commission – A rare commodity in the financial world until just recently. While many companies will still try to charge you a fee for every trade, Webull offers zero commissions. This allows you to trade for free (customer-centric!).
- Free Real-Time Quotes – Make the most informed decisions possible by getting the most up-to-date information possible
- In-Depth Analysis Tools – They provide intuitive and effective charts, multiple technical indicators, and various advanced real-time market data options to help users analyze companies, trends, and seize new trading opportunities.
- Multi-platform Accessibility – Whether it’s their trading platform, news, or market information you’ll receive instant access upon signing up.
- Full Extended Hours Trading – This is usually a perk and not offered as a standard feature for most companies. Make the most of trading days by taking advantage of extended trading hours.
- 24/7 Online Help – They keep building on their customer-first policy by offering 24/7 help online.
Webull has a quality platform but every app has cons so we will include all that we found to help create an honest Webull review.
- Competition – Right now multiple other investment platforms are vying for customers. They all offer decent platforms and honestly Webull is later to join the game.
- Need – There’s plenty of other free stock trading apps that offer less. Unless you need a free stock trader with advanced analytics, extended-trading hours, or free stocks, we can’t guarantee that you’ll appreciate all their extra features. If you aren’t interested in day trading or getting highly analytical, we aren’t sure how much more value you’ll get out of their platform compared to other services.
Webull Review, What Do They Offer?
Regardless of what your investment needs are, Webull will have you covered. They allow their users to invest in ETFs, stocks, cryptocurrency, currencies, options, and Individual Retirement Accounts (IRA’s). On top of just allowing you to invest, they also give you access to lots of proprietary information related to your investments. This allows you to make the best decisions possible. Just take a scroll through their website to get a sense of the vast amounts of information that will be right at your fingertips.
Additionally, there are a few unique features to their platform that we want to expand on.
Webull Desktop (Mac and Windows)
All users have access to their advanced and fully customizable desktop platform thanks to their Webull 4.0 Update. You can consolidate watchlists, analyze charts, place orders, and check your positions across all of Webull’s platforms (mobile, PC, and web). Stay current with the markets and manage your investments wherever you are.
This functionality goes far beyond what you’re able to do on most platforms. Again, this is for advanced trading for people who need all available information to make their decisions. If this sounds like you, you may want to consider signing up.
The Webull app is currently ranked #13 in finance on the App store and has 4.4/5 stars with over 97,000 reviews (at the time of this update 2/21/21). That right there should be testament enough that their app is solid. If you prefer to do your trading from your phone instead of the desktop, you definitely won’t miss a beat.
Webull recently started options trading and advertises 0 commissions, 0 contract fees, 0 exercise fees. This lack of fees can be a big advantage over other platforms where these fees add up. See below for a comparison.
Webull Research Tools
One of the most important factors when making an investment decision is access to information. In this aspect, Webull is ahead of the crowd. Research is found on 4 different pages on the mobile app, with markets, news, an individual stock page, and a screener’s page.
The screener’s page gives you the option of which stocks to track and what technical parameters to watch and set smart alerts. This feature also offers a section where you can see important upcoming dates such as earnings reports and IPO dates.
Webull also offers trade ideas and trading courses, such as day trading courses for beginners. This is incredibly valuable since they have so much technology to offer. They want to make sure that their users are making the most of it. One of the best features of the platform is its trading simulator, which is a demo account that you can use to try out the platform and simulate trading ideas.
Webull Review, Short Selling
Compared with Robinhood, the other main mobile investment platform, short selling is a big selling point for Webull. Short selling is not offered on Robinhood or many other competitors. If you’re not familiar, short selling is an investment technique where you borrow stock from somebody and plan to profit on the price of the stock going down. You sell the stock at the price you borrowed it from and rebuy the same number of shares once the price has gone down. You then return the same number of shares you borrowed and profit the price difference.
This technique is important because it allows you to turn a profit in all different types of markets. You aren’t just reliant on a bull market.
Webull Review, Is Webull Safe?
There is always a risk inherent in investing. If you use Webull’s platform but don’t practice sound investing practices, things may end badly for you. That said, Webull’s platform is safe to use. It has now been around long enough where lots of people use it and there is nothing to worry about. If you need assurance, just check out their rating on the app store (4.5/5 stars and 68,000+ reviews).
Additionally, Webull continues to release new updates and features. This is important because as you grow, your investment needs are going to grow as well. You’ll transition from a beginner investor to intermediate to expert. As that happens, Webull will have a new and improved solution that you’re looking for.
We hope that you found this review of Webull valuable and that it helps influence your decision in the right direction. Let us know what free stocks you received in the comments below!