Table of Contents
Loading...

Webull Review 2022

3.6/5

On Webull's Website

Overall Score: 3.7

Our review is based on comprehensive testing of Webull's platform, trading execution, account types and more.

FeatureWebull
Overall
Commissions & Fees
Platforms & Tools
Mobile Trading Apps
Investment Choices
Education
Ease of Use

Commissions and Fees

The great thing about Webull is that it has no fees or commissions on any stock, options or ETF trades

The only part of a trade you have to pay is the spread and SEC transaction cost, which are fractions of a penny. You can transfer money in and out of your account with no fees using ACH. Domestic wire transfers cost $8 per deposit and $25 per withdrawal. 

Webull also doesn’t have any deposit minimums which makes them a great option for smaller retail traders. There are other additional fees which Webull has that you should be aware of. They include their tiered margin rates, short selling fees, regulatory and exchange fees. These are the main trading fees you should be aware of. 

TIERED MARGIN RATES

Webull provides up to 4x day-trade buying power and 2x overnight buying power if you have a margin account. You need at least $2,000 to qualify. The interest on your margin trading is calculated daily and charged on a monthly basis. The margin rate they charge is determined by the size of the margin loan being used. Below are their annual margin rates.

Debit Balance Annual Margin Rate
$0~25,000.00
6.99%
$25,000.01~100,000.00
6.49%
$100,000.01~250,000.00
5.99%
$250.000.01~500,000.00
5.49%
$500,000.01~1,000,000.00
4.99%
$1,000,000.01~3,000,000.00
4.49%
>$3,000,000.00
3.99%

SHORT SELLING FEES

Short selling fees are accessed if you need to borrow shares of a company before you sell them. Before you short a stock you can see the the short selling fee associated with it. This will vary depending on the individual stock you are want to short. Just like the interest on margin trading, the borrow fee changes on a daily basis and is charged daily. 

Webull defines their short selling fee as follows:

Daily Margin Interest (Short Position) = The Daily Market Value of the Borrowed Stocks when Market Closes* Stock Loan Rate for That Stock/360

REGULATORY AND EXCHANGE FEES

Even though Webull does not charge commissions for trading stocks, options, or ETF’s there are still fees applied by regulatory agencies and exchanges. Click Here For The Full List 
 
Overall, we give Webull a 5.0 when it comes to their commissions and fees.

Platform and Tools

Webull has a very easy to use platform that is perfect for new retail investors that may not have much experience in the stock market. At the most basic level you can do some of the following directly from their web gui:

  • Create a stock watchlist
  • Customize stock widgets and layouts
  • View different markets and news
  • Create your own stock screener
  • Execute trades
  • Configure and fund your account
  • Practice paper trading

Their web GUI is pretty intuitive to use and it works fine if you’re just starting out. You won’t get the same advanced options that you can get with TD-Ameritrade or Interactive Brokers, but it’s perfectly fine if you’re just starting out and managing your own capital. 

webull review

The great thing is that Webull does offer a desktop version of their platform which is a bit more comprehensive and gives you more advanced features. The desktop GUI allows you to configure different layouts and gives you access to options trading. 

In our opinion, their options trading menu could be improved and offer more flexibility for trading different strategies and order types. If you have experience trading options, Interactive Brokers or TD-Ameritrade offer more features for trading options and may be a better fit.

Overall we give Webull a 3.7 when it comes to their platform and tools. 

Mobile Trading Apps

Webull has a highly rated mobile app. This is because their business model targets mobile-first investors and customers. The app allows users access to it’s advanced features, charts and and indicators, options trading, paper trading and more. 

webull-mobile-trading-app

In our opinion their mobile trading functionalities are much better than their desktop and web GUI. We give their mobile trading app a 4.5.

Investment Choices

Webull offers stocks, options, ETF’s and the ability to trade fractional shares along with the ability to short stocks. Unfortunately, they currently don’t offer mutual funds, futures, or bonds. They do however allow crypto trading.

Another interesting option that they also offer their customers is access to IPO’s without minimum deposit requirements. This is a plus but not offering mutual funds, futures, or bonds for trading limits their potential as a brokerage. 

Below are some of the cryptocurrencies they offer for trading:

  • Bitcoin
  • Bitcoin Cash
  • Ethereum
  • Ethereum Classic
  • Litecoin
  • Dogecoin
  • Zcash
  • Cardano
  • Dash

All things considered, their investment options could be much better. We give them a 3.0 in this category.

Education

Education is an area where Webull falls short. They offer almost zero options for investor education apart from how to use their platform and tools. If you’re looking to learn about trading and investing Fidelity has some great options. We give Webull a 1.5 in this category. 

Ease of Use

One great thing about Webull is that it’s platform is completely intuitive and very easy to use. If you are just getting started with the basics of investing and trading, their GUI is very newbie friendly. 

Compared to other brokers like Interactive Brokers, TD-Ameritrade, or Fidelity, Webull is much easier to navigate. We give them a 4.5 in this category.

Frequently asked questions

Webull is best suited for investors who are just getting started and prefer to manage their capital through a mobile app. If you’re an experienced investor or trader, there are better options.

Webull falls short in their investment choices and their education options for customers. There are better options out there if you’re looking to have access to more asset classes along with solid educational support.

Webull is ranked amongst the top brokers in terms of costs. It’s hard to beat free stocks trades along with zero commissions on options trading as well. They also give customers access to trade cryptos. Another major plus is that Webull has some of the best options and features for mobile trading.