Business

Webull Review 2022 – Pros, Cons

Webull offers some of the most affordable brokerage fees without sacrificing on advanced trading tools. It may not be the best brokerage option for beginners, despite the low cost.

Broker Webull appeals to mobile-first investors, with its intuitive interface for desktop and mobile apps. However, the brokerage also offers an impressive range of tools that can be used by active traders. The brokerage’s educational content is not as strong as it could be and does not offer access to many common asset classes.

Pros & Cons

Pros

  • Low cost.
  • Easy-to-use platform.
  • Advanced tools
  • Access to cryptocurrency

Cons

  • Mutual funds are not available.
  • Education support is sparse.

Webull shines

Low cost: Webull ranks amongst the most affordable in terms price. Webull offers free stock trades as well as $0-commission option trades and there is no per-contract fee.

Advanced tools: Webull was created to be easy-to-use for a mobile-first generation. However, this doesn’t mean we don’t offer advanced charting and screener options.

Access to cryptocurrency: Although few brokerages offer direct access, Webull currently has 11 available to trade.

It appeals to a broad audience. In some ways, the company may have taken cues form Robinhood, which appeals to new and casual investors. Robinhood is a modern forerunner that offers a great mobile experience as well as a simplified desktop interface. Webull also offers advanced trading options, including charting and customization, advanced orders, market data from Nasdaq Level II, customized reports, and detailed charts. All this is presented in an easy-to-use, sleek platform.

Webull’s weaknesses

Webull doesn’t offer mutual funds.

Webull offers very little educational support. While Webull is working to improve its educational content, they are still far behind other brokerages.

Cash management: Webull doesn’t offer any interest on uninvested capital, has no default fund to invest uninvested cash and no ancillary banking products or cash management products that can make up the difference, like some brokers (e.g. Robinhood and Ally Invest). So, uninvested cash won’t grow. The reality is that default sweep interest rates average 0.01%. This means that in today’s climate, there is a thin line between offering uninvested cash interest and not.

Webull is the best choice

  • Intermediate investors
  • Active traders.
  • Options traders.
  • Cryptocurrency traders

A quick look at Webull

Account minimum

$0.

Stock trading costs

$0.

Options trades

$0.

Account fees (annual, transfer, closing, inactivity)

No annual fees or inactivity charges; $75 full/partial fee for transfer.

Tradable securities

  • Stocks.
  • ETFs.
  • Options.
  • ADRs.

Crypto availability

Webull gives you access to 11 cryptocurrencies.

Number of mutual funds that do not charge a transaction fee

Not rated.

Trading platform

Desktop platforms that can be downloaded or used as a browser with advanced screens, indicators, screeners, and customization.

Mobile app

The mobile app has advanced features such as charts and indicators and paper trading. Price alerts are also available.

Data and research

News, research, analysis and other information available from Thomson Reuters (Nadaq Totalview), Refinitiv, Lipper and OPRA (real time quotes free with one or several options trades per Month), OTC Bulletin Board.

Support options include how easy it is for users to locate key details on the site.

Chat and phone support available 24/7 via the mobile app.

Webull’s Ratings: More Details

Minimum Account: 5 stars

Webull has no minimum account.

Stock trading costs are 5 out 5 stars

Webull scores high in cost with no minimum account and free trades on stocks and exchange-traded funds.

Options trades are 5 out of 5 stars

Webull is one brokerage that offers options trades for free. Customers are not charged per-trade commissions or per-contract fees.

Account fees: 3 of 5 stars

Webull’s transfer charge is one account fee to be on your guard. You will be charged $75 to transfer all or part of your assets from Webull. There is no annual or inactivity charge at Webull.

Tradable Securities: 1 out Of 5 Stars

Webull has a solid offering for active traders but does not have access some common securities like bonds or mutual funds. Investors who are interested in retirement savings in an IRA may find it difficult to really diversify among assets typically found in a retirement fund.

Crypto availability: 5 out 5 stars

Webull offers investors the opportunity to trade 11 cryptocurrencies. Users cannot currently send or receive coins to their Webull account. You can only sell your coins for USD if withdrawing funds are desired. Although this does not affect Webull’s crypto score, it is one of the reasons Webull scores less well in our review of the best cryptocurrency exchanges and platforms. Webull supports cryptocurrencies such as Bitcoin and Ethereum, Bitcoin Cash, Litecoin and Dogecoin.

None of the mutual funds have no transaction fees.

Webull does not offer mutual funds.

Trade platform 5 out 5 stars

The sheer amount of screens, graphs and indicators that are available to investors can be overwhelming for new investors. However, the simple interface makes it easy for anyone with some experience to quickly figure things out.

Webull is the best at combining the simplicity of mobile-first users with the features and functionality of more advanced products. Webull is able to achieve an unusual feat: create a platform which bridges intermediate-level trading and advanced trading. Users can then follow their investment journey by gaining more experience.

Mobile app 5 out 5 stars

Webull’s app for mobile is very well-rated. This makes sense considering that it targets mobile first customers. You can access advanced features like charts, indicators, and paper trading account. Voice command functionality is also available within the app.

Research and data: 3 stars out of 5.

Webull doesn’t offer a large selection of third party research. But it does provide news and research from solid sources such as Nasdaq TotalView (though that requires an additional subscription after a 3-month trial), Reuters Refinitiv, Lipper, and Lipper.

Customer support options: 4.5/5 stars

Webull offers 24 hour customer support via email and telephone.

Are you a Webull fan?

You may not be a complete beginner if you haven’t yet built a portfolio that is well-diversified and long-term. Webull may be the right broker for you if your experience is intermediate and you are looking to learn more about active trading.

Read TastyWorks Broker Review on Google Site.

news7h

News7h: Update the world's latest breaking news online of the day, breaking news, politics, society today, international mainstream news .Updated news 24/7: Entertainment, Sports...at the World everyday world. Hot news, images, video clips that are updated quickly and reliably

Related Articles

Back to top button
Immediate Peak