Financial Education  Webull App Review 2024 - The Expert Trading App
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Webull App Review 2024 - The Expert Trading App
TABLE OF CONTENTS
Video Summary
Key Takeaways
What is Webull?
How Does Webull Work?
Best Webull Features
Investing Automation Features
Advanced Trading Tools
User Experience
Investments Available
Webull Smart Advisor
Webull Pay Crypto
Webull Options
Minimum Investment Required
Types of Accounts
Webull IRAs
Webull Cash Management Account
Is Webull Safe?
Are There Any Fees?
Pros and Cons
Who is Webull Ideal For?
Webull Alternatives
Final Thoughts

Webull App Review 2024 - The Expert Trading App

Discover the powerful features of the Webull app, including commission-free trades, advanced trading tools, and a virtual platform for beginners.

Erik Machuca Erik Machuca
Feb 1, 2024
We’re exploring Webull, the feature-packed stock trading app with commission-free trades, a virtual trading platform for beginners, and advanced trading tools for active traders.
Webull
Webull
★★★★☆ | 4.1 / 5
Sign-Up Bonus
 
✅
Commission-Free Trades
✅
Advanced Trading Tools
⛔
Not Ideal For Passive Investing
 
Whether you want to actively trade stocks, ETFs, and options or you prefer passively managed portfolios, Webull has features for investors of all experience levels.
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Trades can be done on mobile or desktop, the platform is loaded with market data, and Webull lets anyone start investing in the stock market with just $1.

Video Summary

Video preview

Key Takeaways

  • Webull provides zero-commission trades for stocks, ETFs, and options, with no minimum account balance.
  • The platform offers a suite of advanced trading features for active traders such as in-depth charting, technical indicators, and paper trading.
  • Its mobile and desktop apps offer valuable tools for real-time market analysis and trading.
Try Webull, and get a special sign-up bonus here.
Try Webull, and get a special sign-up bonus here.

What is Webull?

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Webull is a modern stock trading app available on iOS, Android, Mac, and Windows that offers commission-free trading of stocks, ETFs, and options.
The platform provides several tools to help both new and experienced traders. These include real-time streaming data, customizable charts, and paper-trading for practice.
In addition to stocks, ETFs, and options, Webull also allows trading of cryptocurrencies through its sister app, Webull Pay.

How Does Webull Work?

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Buying and selling stocks on Webull is straightforward:
  1. Go to the "Watchlists" tab on the main screen.
  1. Look up a stock.
  1. Navigate to the stock quotes page.
  1. Tap on "Trade" at the bottom left-hand corner.
Webull supports various types of orders, including market orders, limit orders,  stop-limit orders, stop-loss orders, trailing stop orders, and more, including OTO and OCO orders.
In addition to commission-free trading of stocks, ETFs, and options, Webull also lets you invest in fractional shares of your favorite companies.
Webull also provides a paper trading feature, allowing you to practice trading strategies with real-time quotes without risking your real funds.

Best Webull Features

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Advanced Charting and Technical Indicators: Webull offers in-depth charting with dozens of technical indicators, allowing you to analyze market trends and make informed trading decisions.
Variety of Order Types: Webull supports 11 different types of stock orders, including limit orders, market orders, stop orders, and more complex group orders like One-Triggers-the-Other (OTO) and One-Cancels-the-Other (OCO).
Extended Trading Hours: Webull supports full extended trading hours, including pre-market (4:00 AM - 9:30 AM ET) and after-hours (4:00 PM - 8:00 PM ET) sessions.
Fractional Shares Trading: You can buy fractions of stocks and ETFs for as low as $5 on Webull, making it accessible for investors with smaller budgets.
Paper Trading: Webull’s paper trading feature allows you to practice your trading strategies with real-time quotes without risking your real money.
Customizable Interface: Webull offers a synchronized and customizable app and desktop interface, making it easy for you to navigate and execute trades.
No Commission Fees: Commission-free trading for stocks, ETFs, and options makes Webull a cost-effective choice for traders.
Cash Management Account: With Webull you can earn 5% APY on your uninvested cash, which is among the highest of any brokerage.

Investing Automation Features

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While not known as a robo-advisor Webull also offers investing automation features, including:
  • Recurring Investments: Set up automatic investments in specific stocks and ETFs to build your portfolio over time.
  • Webull Smart Advisor: Their robo-advisor service for automated investing, personalized risk distribution, and hands-off portfolio monitoring.
Try Webull, and get a special sign-up bonus here.
Try Webull, and get a special sign-up bonus here.

Advanced Trading Tools

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I’m personally more of a long-term investor myself, but for active traders, you will appreciate Webull’s advanced trading tools.
Webull offers a comprehensive set of trading and charting tools designed to help traders analyze market trends and make informed decisions. These include:
Advanced Charting: Webull provides in-depth charting capabilities with a variety of indicators and overlays. You can create advanced charts with real-time streaming data to monitor stock prices and market movements.
Drawing Tools: The platform includes several drawing and marking tools such as trend lines, horizontal lines, vertical lines, rays, and parallel lines, which allow you to conduct your own technical analysis directly on the charts.
Customizable Indicators: Over 50 fully customizable technical indicators are available, which can be used to identify trading signals and patterns within the market.
Technical Signals: Webull offers over 60 technical signals, including classic patterns, candlestick patterns, and technical indicators, to help traders recognize potential trading opportunities.
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Chart Types: You can switch between different chart types, including candlestick and others, and can also adjust the granularity down to one tick for detailed analysis.
Extended Hours Charting: The platform allows for charting during extended trading hours, giving you the ability to analyze pre-market and after-hours trading sessions.
Customization Options: You can customize your charts with various settings, including chart height, Y-axis scale (linear, logarithmic, percentage), time zone, and extended hours display options.
Market Data & Level 2 Quotes: The app provides you with two tiers of market data. Initially, you'll have access to Level 1 trading data, which includes the highest bid information. For a monthly fee, Webull also offers access to Level 2 data, giving you a more comprehensive view of bid and ask prices for better market insights.
TradingView Integration: Webull has integrated TradingView's advanced tools, which allow you to utilize additional charting capabilities, conduct technical analysis, backtest trading strategies, and connect with other traders without leaving your Webull account.
Comparison Tools: Webull's charting tools also allow you to compare a stock with another stock or an index within a single chart, helping you with relative performance analysis.

User Experience

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The Webull app is designed to give you a streamlined experience, whether you're new to investing or an experienced trader.
Whether you prefer trading on your phone or your desktop, Webull is available on every platform, including iOS, Android, Mac, and Windows.
Webull provides you with a synchronized user experience across all devices with detailed layouts and customizable charts.
From my years of testing many different apps and brokerages, Webull offers some of the best trading tools and features for active traders.

Investments Available

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Webull offers a variety of investment options for you. These include:
Stocks: You can trade thousands of US-listed stocks and publicly traded companies.
Exchange-Traded Funds (ETFs): Designed to track the performance of specific indices, sectors, commodities, or asset classes, Webull offers a diverse selection of ETFs for your trading needs.
Options: Webull supports options trading, which are contracts that give you the right to buy or sell a stock or ETF, at a fixed price within a specific timeframe.
Over-the-Counter (OTC) Securities: OTC securities are stocks that aren't listed on major exchanges. They're traded through a network of broker-dealers.
Initial Public Offerings (IPOs): With Webull, you can participate in initial public offerings. This allows you to buy shares in a company before its stock starts trading on public exchanges.
Try Webull, and get a special sign-up bonus here.
Try Webull, and get a special sign-up bonus here.

Webull Smart Advisor

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Webull Smart Advisor is Webull’s automated investment service for hands-off investors, also known as a robo-advisor.
It is designed to help with the day-to-day management of your portfolio by monitoring and automatically rebalancing it when necessary to keep you on track with your investment goals.
Key Features of Webull Smart Advisor:
  • Automatic Portfolio Management: Webull Smart Advisor monitors your portfolio and rebalances it as needed, based on your personalized risk profile.
  • Low Minimum Investment: You can start using Webull Smart Advisor with a minimum investment of $100, making it accessible to a wide range of investors.
  • Customized Investing: The robo-advisor provides automatic and customized investing based on your risk tolerance levels, offering six different diversified portfolios to choose from.
While buying and selling stocks on Webull is commission-free, Webull’s Smart Advisor charges an annual fee of 0.20% for managing your investments for you.
Webull’s Smart Advisor may not be the best fit if you prefer a more hands-on approach to managing your portfolio, but for passive investors, Webull’s Smart Advisor fees are lower than fees typically charged by other robo-advisors.

Webull Pay Crypto

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While you can no longer invest in crypto directly on Webull, you can buy, sell, and trade crypto on Webull’s sister app, Webull Pay.
It’s a separate app from the main Webull platform that provides real-time cryptocurrency prices, charts, and coins to help you with your cryptocurrency investments.
Webull Pay offers a solid selection of more than 40 types of cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and more.
The app lets you buy and sell cryptocurrencies using advanced trading tools and gives you access to in-depth analysis, advanced charting, and real-time order books to help you make informed trading decisions.
Webull Pay doesn’t currently provide any crypto staking features or third-party wallet compatibilities, but it does have a similar feel to the main Webull app.

Webull Options

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Webull offers options trading, which are contracts that give you the right to buy or sell a certain stock at a specific price until a certain date.
Options are a way for you to actively interact with stocks you're interested in without actually owning the stocks themselves.
Options can provide a form of leverage that can magnify your potential gains but can also magnify your potential losses.
To support your options trading, Webull provides a variety of tools and features. These include real-time market data, customizable option chains, multi-leg option quotes, and real-time charts.
You'll also have access to 11 option trading strategies to choose from, including single option, covered stock, straddle, butterfly, iron condor, and more.
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Webull's options trading platform is designed to be intuitive and user-friendly, suitable for both beginners and experienced traders.
Much like stocks and ETFs, trading options on Webull are also commission-free.
In addition to equity options, Webull also offers index options trading, allowing you to speculate on the future direction of an entire index, such as the S&P 500, rather than individual stocks.
If you dive into options trading on Webull they will emphasize that options trading involves significant risk and is not appropriate for all investors.
If you’re considering trading options on Webull it is highly recommended to explore Webull’s educational resources first.

Minimum Investment Required

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Webull does not require a minimum balance to open a standard individual account.
With Webull’s fractional shares, you can start trading with any amount you choose.
However, if you want to engage in pattern day trading, you must maintain a minimum account balance of $25,000 in your margin account. For margin trading, you'll need at least $2,000 in your account.
If you’re interested in Webull’s robo-advisor portfolios, Webull’s Smart Advisor account requires a minimum deposit of $100 to get started.
Try Webull, and get a special sign-up bonus here.
Try Webull, and get a special sign-up bonus here.

Types of Accounts

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Webull offers several types of accounts to cater to your different trading and investment needs:
Individual Accounts: You can have two types of individual accounts with Webull: a cash account and a margin account.
Retirement Accounts: Webull offers various types of Individual Retirement Accounts (IRAs), including Traditional IRAs, Roth IRAs, and Rollover IRAs. These accounts offer tax advantages for your retirement savings.
Cash Management Account: An alternative to standard savings accounts, this is Webull’s interest-earning account that lets you earn high-APY interest rates on your uninvited cash.

Webull IRAs

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Webull also offers tax-advantaged retirement-saving accounts, designed for your individual retirement needs.
Traditional IRA: With this account, you can make contributions with pre-tax dollars, potentially reducing your taxable income for the year contributions are made. Taxes on earnings and contributions are deferred until withdrawals in retirement.
Roth IRA: Contributions to a Roth IRA are made with after-tax dollars, meaning your withdrawals during retirement are generally tax-free. Roth IRAs can be suitable if you expect to be in a higher tax bracket during retirement than you are now.
Rollover IRA: A Rollover IRA is designed for those who are moving funds from another retirement plan, such as a 401(k), into an IRA. This type of account allows for the consolidation of your retirement savings while maintaining tax-deferred status.
Webull's IRA accounts offer the same range of investment options as their standard brokerage accounts, including trading in U.S. market stocks and exchange-traded funds (ETFs).

Webull Cash Management Account

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Webull offers a Cash Management account, allowing you to earn interest on uninvested cash in your Webull account. No separate account is needed for cash management, and there are no fees, subscription costs, or minimum balance requirements.
Your Cash Management account also offers a high annual percentage yield (APY) on uninvested cash, which has recently been increased to 5% APY. Compared to most banks, Webull’s competitive interest rates put your uninvested cash to work while you wait for your next investment move.
While it doesn't function exactly like a traditional checking or banking account, the Cash Management account lets you manage your cash and earn meaningful interest on it.
Try Webull, and get a special sign-up bonus here.
Try Webull, and get a special sign-up bonus here.

Is Webull Safe?

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Yes, as a member of SIPC (Securities Investor Protection Corporation), Webull is SIPC-insured against brokerage failure. Securities in member's accounts are protected up to $500,000, including up to $250,000 for cash.
SIPC insurance is investor protection for investment brokerages. Webull is also regulated by the Securities and Exchange Commission (SEC).
For Webull’s Cash Management Account, your uninvested cash in your brokerage account is swept into Webull’s program banks, where it becomes eligible for FDIC insurance up to $250,000 per program bank, with a total coverage of up to $1,000,000.

Are There Any Fees?

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Webull offers commission-free trading for US stocks, ETFs, and options, which means there are no fees for buying or selling these securities. However, there are some fees associated with certain activities on Webull:
Options Trading: A $0.55 per contract fee applies for certain options trades.
Cryptocurrency Trading: While Webull Pay doesn't charge commission fees for buying or selling crypto, each trading side has a 100-basis point spread that is built into the price of the crypto you are buying or selling
While Webull’s charting tools, real-time streaming data, and Level 1 Quotes are all free to use, they offer advanced market data you can subscribe to for a fee.
For $2.99 per month, you can access Level 2 Quotes (by Nasdaq TotalView), which gives you access to the 50 best bids and asks for a specific security.
This can provide you with more information to identify strategic buying and selling opportunities.

Pros and Cons

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Pros:
  • No Account Minimum and Commission-Free Trades: With Webull, you can enjoy commission-free trading on stocks, ETFs, and options, making it accessible for new and experienced investors.
  • Advanced Tools: Despite its mobile-first interface, Webull provides advanced charting, technical indicators, and market data, appealing to more experienced active traders.
  • High APY on Uninvested Cash: You have the opportunity to earn a competitive 5% APY on your uninvested cash, which is among the highest of any brokerage.
  • Multi-Device User Experience: Whether you’re on iOS, Android, Mac, or Windows, Webull provides you with a synchronized user experience across all devices with detailed layouts and customizable charts.
Cons:
  • Less Educational Content: Compared to other brokers, Webull offers fewer educational resources, which may not be ideal for less experienced investors.
  • Not Ideal For Passive Investors: While Webull provides all the advanced charts and trading tools active traders will need, the platform can feel a bit overwhelming for hands-off investors who prefer a more passive investing approach.
  • No Integrated Checking Account: While Webull offers a cash management account, the app doesn’t offer a traditional checking account or debit card as some other brokerages do.

Who is Webull Ideal For?

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For Beginner Stock Traders:
  • No Account Minimum: If you're just getting started or have limited capital, Webull's lack of an account minimum makes it accessible.
  • Free Trades: Commission-free trading on stocks, ETFs, and options is attractive for casual investors looking to save on costs.
  • Paper-Trading Feature: Webull lets you practice trading strategies without risking your real money.
For Active and Advanced Traders:
  • Advanced Trading Tools: If you need in-depth charting, technical indicators, and market data for sophisticated analysis, Webull has you covered.
  • Extended Trading Hours: Being able to trade during pre-market and after-hours sessions is a plus if you want to seize market opportunities outside of regular trading hours.
  • Options Trading: If you're into options trading, Webull's support for various options trading strategies and commission-free options trades make it a great choice.

Webull Alternatives

Webull is a feature-packed app for traders, but here’s a few other apps worth considering.
Public: Public is a user-friendly stock trading app that offers commission-free trading of stocks, ETFs, crypto, and options as well as access to T-Bills and high-yield savings accounts.
Public: Public is a user-friendly stock trading app that offers commission-free trading of stocks, ETFs, crypto, and options as well as access to T-Bills and high-yield savings accounts.
Public Review
Robinhood: Robinhood is a user-friendly stock trading app that offers commission-free trading of stocks, ETFs, crypto, and options as well as access to a debit card and a 3% IRA match.
Robinhood: Robinhood is a user-friendly stock trading app that offers commission-free trading of stocks, ETFs, crypto, and options as well as access to a debit card and a 3% IRA match.
Robinhood Review
M1 Finance: M1 is a comprehensive investment platform that offers a unique blend of automated investing and individual customization, allowing you to invest in fractional shares of stocks and ETFs.
M1 Finance: M1 is a comprehensive investment platform that offers a unique blend of automated investing and individual customization, allowing you to invest in fractional shares of stocks and ETFs.
M1 Review
Here’s a quick recap to keep things simple:
Platform
Features
Who it's for
Webull
Advanced trading tools, data, & commission-free trades
Active Traders
Public
Invest in stocks, ETFs, crypto, options, and T-Bills
Investors & Traders
Robinhood
Trade stocks, ETFs, crypto, and options commission-free
Investors & Traders
M1 Finance
Smart portfolios, fractional shares
All investors

Final Thoughts

Webull is an ideal choice for investors who are comfortable taking a do-it-yourself approach to investing and trading.
If you value a modern, user-friendly platform and are looking for cost-effective trading options, Webull is worth considering.
It's particularly well-suited for active traders who can make the most of the platform’s advanced tools and extended trading hours.
Try Webull, and get a special sign-up bonus here.
Try Webull, and get a special sign-up bonus here.
Erik Machuca
Erik Machuca
Erik Machuca is the founder of EverydayInvesting.com. He is passionate about helping everyday investors simplify investing with technology.

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