Webull is a discount multi-platform brokerage with a minimalist design for straightforward trading. Its robo-advisor is good for beginners, but seasoned investors can benefit from the platform's comprehensive futures trading capabilities and advanced market screeners. However, Webull doesn't offer mutual funds.
Business Insider's personal finance team compared Webull to the best stock trading apps and found that it stands out for its robust futures and options trading.
Pros and Cons
Webull Pros
- No minimum deposit
- Commission-free trading on US-listed stocks, ETFs, and options
- Advanced tools like paper trading, customizable tick charts, and market indicators and screeners
- Automated trading is available through Webull Smart Advisor
- High-order execution quality
Webull Cons
- No joint brokerage accounts or education savings accounts
- No mutual funds
- A separate app is required to trade cryptocurrencies
Open an Account
$0 ($100 for robo-advisor)
0% (0.2% for robo-advisor)
- No minimum deposit
- Commission-free trading on US-listed stocks, ETFs, and options
- Cash and margin accounts available
- Webull Smart Advisor
- No joint brokerage accounts or education savings accounts
- No mutual funds
- Limited educational resources and retirement planning tools
Webull is best for beginners and intermediate investors in search of commission-free investments, expert market data, extended hours trading, and robo-advice. The app could also be a good fit for futures and options traders looking for an easy-to-navigate platform.
- App store rating: 4.7 iOS/4.4 Android
- Consider it if: You're after something that's free to use (for most people) and friendly to active traders
Compare Webull
Overview
Webull is an easy-to-navigate trading platform offering passive and active trading strategies and features. While its robo-advisor is good for beginners, Webull stands out as a comprehensive futures and options trading platform for intermediate and seasoned investors prioritizing access and affordability.
Webull is available on web, mobile, and desktop. Webull Desktop offers the most investment options, trading strategies, and features. Active and futures traders get the most out of Webull Desktop because of its greater access to market analysis, customizable tick charts, and in-depth stock market quotes.
All investors can access commission-free trades, enhanced pattern recognition tools, technical analysis, paper trading, and extended trading hours.
Webull now offers fractional shares of Treasury bonds with a $100 minimum (regular Treasury bonds have a $1,000 minimum). Uninvested cash can earn 3.75% APY if you enroll in Webull's free Cash Management Account.
Where Webull falls short is that it doesn't offer mutual funds. Also, cryptocurrencies are only available on Webull's secondary mobile app, Webull Pay.
Phone support is limited to regular stock market hours. Online support is available 24/7. Additionally, Webull provides a learning hub. If you download the app, you can access Webull's online trading community to share trading ideas, ask questions, and track market trends.
Webull has a 4.5/5 rating on Google Play and 4.7/5 on iOS. Webull Pay has a 4.6/5 on Google Play and 4.7/5 on iOS.
Ways to Invest
Webull offers investment options, including commission-free stocks, ETFs, and options. It also offers low-cost futures, index options, money market funds, ADRs, IPOS, equity options, and fractional shares. Over-the-counter (OTC) and margin trading are also available.
You can access all investment options and market data on Webull Desktop and the Webull app. Webull WebTrade is more limited.
To open an account with Webull, you must provide your Social Security number and bank information.
Webull Desktop
Webull recently updated its desktop trading platform with new charting capabilities (tick charts and TPO charts), a futures TurboTrader tool, futures paper trading, and upgrades to the TPSL order.
Another new perk is the Voice Quote Function, which turns watchlists into audio announcements for selected stock tickers.
Multiple subscription services for in-depth quotes are available through Webull Desktop, including NASDAQ's US stock quotes and CME's options and futures quotes. Advanced Analysis+ comes with market indicators, line-drawing tools, technical sales, and analysis of target companies using financial statements and charts.
Seasoned investors can also use Webull to create custom stock screeners with specific exchanges, patterns, indicators, and regions. This includes 60 charting indicators and 22 charting-drawing tools. Conditional order types are not available on desktop.
Features exclusive to Webull include the price ladder, custom trading buttons and panels, and hotkeys (which allow you to capitalize on short market windows with quick buy and sell orders).
Webull WebTrade
Webull WebTrade offers the least amount of features and investment options among the three Webull platforms, with access only to trade stocks, ETFs, index options, ADRs, bonds, and equity options. It offers 50 charting indicators and 15 charting drawing tools.
WebTrade does not offer fractional shares, overnight trading, complex options, or IPOs. Webull's Trading Assistant and technical analysis are also unavailable.
Webull Mobile App
In addition to the desktop platform, Webull's mobile trading app offers a comprehensive selection of trading options and features for active and passive traders. It provides many of the same perks, including all the same investment options, access to market data, and a majority of the same standard and advanced features (excluding the price ladder).
Webull Mobile includes 63 on-chart technical signals, 50+ indicators, and 12 drawing tools. With Webull Learn, you can access over 500 educational courses and trainings.
There is also a Lite mode for investors who want a streamlined trading experience. Webull Lite is less "cluttered" as it removes many of the advanced features catered toward more hands-on traders. Webull Lite good for long-term investing and goal planning.
You can switch between the regular mobile Webull platform and the Lite version at any time on the Menu tab.
Webull Smart Advisor
Smart Advisor is Webull's new intuitive robo-advisor. It offers instant portfolio diversification, hands-off monitoring, and personalized risk distribution. A team of 130 financial experts created Smart Advisor using quantitative analysis and professional insight to manage automated portfolios.
Webull Smart Advisor offers investing solutions for wealth building, retirement planning, education, and emergency fund building. State Street Global Advisor manages automated portfolios based on SSGA's Active Asset Allocation ETF portfolios.
For a minimum of $100, Webull will build you a custom portfolio primarily of ETFs based on the results of your risk assessment. You can only retake the risk assessment twice every three months.
To open a Smart Advisor account, you must complete an account application and risk assessment. Your application will be processed in 1-3 business days.
Webull Retirement Accounts
Webull supports traditional IRAs, Roth IRAs, and rollover IRAs. You can set up an individual retirement account and contribute with pre-tax or post-tax contributions. In addition, you can roll over your employer-sponsored retirement plan if you choose.
You can grow your nest egg by investing in commission-free stocks, ETFs, and options. Like other Webull brokerage accounts, IRAs can be monitored and managed on the mobile app. Also, IRAs are now eligible for automated portfolio building and management through Webull's Smart Advisor.
Webull Pay
Webull Pay is the brokerage's crypto trading platform, separate from its main offerings. Bakkt Crypto Solutions is the custodian for Webull Pay. There's a $1 trade minimum.
You can buy cryptocurrencies like bitcoin, ethereum, USD coin, litecoin, DOGE, and Shiba Inu coin with Webull Pay. Features include price alerts, advanced charting, and real-time order books. Available order types are market, limit, and stop limit orders.
Compared to Webull's main trading platform, finding information on available features, crypto offerings, and fees is harder.
Webull Pay provides a user-friendly experience for those new to cryptocurrency or who want to dip their toes in crypto. However, traders with more experience may find Webull Pay limited for crypto and should consider one of the best cryptocurrency exchanges instead.
Fees
A Webull self-directed brokerage account has no minimum balance. However, a Smart Advisor account requires a $100 minimum and charges a 0.2% advisory yearly fee after your six-month free trial period ends.
Although there are no minimum balance requirements or commissions on U.S.-listed stocks, ETFs, or options, some of Webull's regulatory agencies and clearing firms still apply small fees to each trade. A $0.55 per contact fee may be applied to certain index options.
Foreign stocks cost $5.00 per buy and $0.05 per sell.
Futures contracts from exchange partner CME Group cost $0.25 to $1.25 per contract. Futures from exchange partner Coinbase Derivatives cost $0.13 to $0.50 per contract.
US Treasury bonds are charged at a 0.1% rate based on market value, while all other fixed-income assets and bonds are charged at a 0.7% rate.
Webull margin rates range from 4.74% to 8.74%.
Fractional share investing starts at $5.
There's a 1% spread on all crypto assets in Webull Pay.
Trustworthiness
Webull is an SEC-registered and regulated platform that secures investors' assets and personal information with a range of security features, including stringent protocols for updates and modifications, two-factor authentication, and device authentication.
Webull Financial LLC is a registered Futures Commission Merchant with the Commodity Futures Trading Commissions (CFTC). The brokerage is also a member of the Financial Industry Authority (FINRA) and Securities Investor Protection Corporation (SIPC). SIPC provides users with coverage of up to $500,000 (up to $250,000 for cash claims).
Webull Financial LLC has received a B- rating from the Better Business Bureau. The BBB uses a grade range of A+ to F when rating companies. Webull's B- rating is due to multiple complaints filed against the business and the length of time the company takes to respond to these complaints.
In March 2023, FINRA fined Webull $3 million, accusing the company of not conducting due diligence when approving users for options trading, having an ineffective customer communication system, and neglecting to report certain complaints to FINRA.
Alternatives
Here's how Webull compares to similar stock trading apps.
Interactive Brokers
$0 ($100 Interactive Advisors automated accounts)
$0 for IBKR Lite; $0 IBKR Pro (per-share commissions apply)
- Low commissions and fees
- International trading opportunities
- Competitive trading platforms and tools
- Several account types available
- Thousands of no-transaction-fee mutual funds
- Cryptocurrency investing available for bitcoin, bitcoin cash, ethereum, and litecoin
- Less active traders pay more for IBKR Pro
- Website can be tricky to navigate
Interactive Brokers is one of the best online brokerages for advanced, active investors who trade securities frequently and value access to market analysis and trading platforms.
Interactive Brokers- Promotion: None at this time.
Webull and Interactive Brokers are comprehensive, low-cost trading platforms offering commission-free investments like stocks and ETFs. However, they differ regarding investment options, fees, and features.
Interactive Brokers is the overall stronger stock trading app, offering more unique wealth-building products and services like a Bonds Marketplace, automated themed portfolios, multi-custody solution through its PortfolioAnalyst tool, and access to shortable stocks and bonds. Sophisticated investors and those looking to trade commodities are better off with IBKR.
Webull is a better choice for options traders since it offers commission-free trades, and only certain contracts charge a $0.55 fee. Beginners and casual investors looking for straightforward mobile trading and community features may also prefer Webull.
Robinhood
$0 ($1 for fractional shares; $2,000 for margin trading)
0% ($5/month for Robinhood Gold)
- Free stock, option, ETF, and cryptocurrency trades; 0.01% APY on uninvested cash for non-Gold users and 4.00% for Gold members
- IPO investing available
- Cash management accounts available
- Website is easy to navigate; advanced charts for all users
- Lack of investing research and trading tools; can only take advantage of professional research if you're a Robinhood Gold member
- No joint accounts, education savings accounts, or mutual funds
- App store rating: 4.2 iOS/4.0 Android
- Consider it if: You want to trade crypto and invest in a wide range of stocks and ETFs.
Webull and Robinhood Investing are good choices for beginner active traders searching for low-cost trades and simple user interfaces. But Robinhood is a better choice for IRA investors since it offers a 1% match on investor contributions in its recently launched traditional and Roth IRAs.
Robinhood is also the better option for investing in cryptocurrencies, as Webull requires you to open a separate account on their secondary platform, Webull Pay. Webull Pay is significantly more limited than the regular Webull trading platform and doesn't offer as many tools and features as Robinhood.
Why You Should Trust Us
Webull was reviewed using Business Insider's rating methodology for investing platforms. It examines asset availability, access, ethics, fees, and overall customer experience. Platforms are given a rating from 1 to 5.
Online brokerages offer multiple assets, trading tools, and other educational resources. Some platforms are better for more advanced or active investors, while others may be better for beginners and passive investors. Webull was evaluated with a focus on how it performs in each category.
Business Insider's Overall Webull Rating
| Feature | Our rating (out of 5) |
| Fees | 4.50 |
| Investment selection | 4.50 |
| Access | 4.50 |
| Ethics | 4.00 |
| Customer support | 4.00 |
| Overall score | 4.32 |
FAQs
What is Webull, and what services does it offer?
Webull is a mobile-focused online brokerage offering self-directed and automated trading accounts for individuals and retirement-focused investors. The minimalist platform simplifies trading for beginners while also offering a decent selection of commission-free stocks, ETFs, and options. Additional features include paper trading, margin trading, fractional shares, and futures.
Is Webull suitable for beginner investors?
Webull is an easy-to-navigate platform suitable for beginner investors interested in active and passive investing strategies. It offers commission-free trades, educational resources, and community trading features.
Is Webull safe?
Webull is a safe online trading platform regulated by the SEC and FINRA. It's equipped with two-factor authentication and provides up to $500,000 in SIPC insurance.
What is the minimum deposit for Webull?
Webull's minimum deposit for a self-directed brokerage account is $0. However, Webull's robo-advisor, Smart Advisor, requires a $100 minimum deposit to open an account.
Sofi Active Invest: Investments are not FDIC-insured - Are not bank-guaranteed - May lose value - Brokerage and Active investing products offered through SoFi Securities LLC, member FINRA(www.finra.org)/SIPC(www.sipc.org).
Must be a SoFi Plus member at the time a recurring deposit is received into your SoFi Active or Automated investing account to qualify. Bonus calculated on net monthly recurring deposits made via ACH and paid out as Rewards Points. See Rewards Terms of Service. SoFi reserves the right to change or terminate this promotion at any time without notice. See terms and limitations. https://www.sofi.com/sofiplus/invest/#disclaimers.
SoFi Plus members can schedule an unlimited number of appointments with a financial planner during periods in which the SoFi Plus member meets the eligibility criteria set forth in section 10(a) of the SoFi Plus Terms and Conditions. SoFi members who are not members of SoFi Plus can schedule one (1) appointment with a financial planner. The ability to schedule appointments is subject to financial planner availability. SoFi reserves the right to change or terminate this benefit at any time with or without notice. Advisory services are offered by SoFi Wealth LLC, an SEC-registered investment adviser. Information about SoFi Wealth's advisory operations, services, and fees is set forth in SoFi Wealth's current Form ADV Part 2 (Brochure), a copy of which is available upon request and at www.adviserinfo.sec.gov.
Customer must fund their Active Invest account with at least $50 within 30 days of opening the account. Probability of customer receiving $1,000 is 0.028%. See full terms and conditions. https://www.sofi.com/invest/clawpromotion/rules.
