Webull Review 2022: Pros, Cons and How It Compares – NerdWallet

Where Webull shines

low cost : Webull ranks among the best in terms of costs, with not merely free stock trades, but $ 0-commission options trades and no per-contract fee, either. gain tools : Webull was built to be user-friendly for a mobile-first generation, but that doesn ’ metric ton total at the expense of advance chart and screener tools.

access to cryptocurrency : few brokerages offer conduct access to cryptocurrencies, but Webull presently has 11 available for trade. Appeals to a broad audience : In some ways, the party seems to have taken cues from modern forerunners like Robinhood, which appeal to new and casual investors who expect a great fluid experience and a blank, simplified background interface. But Webull is besides a solid option for more advance active traders, offering in-depth graph, dozens of technical indicators, progress orders, Level II market data from Nasdaq, customization and more. All of this is packaged up in an accessible, satiny platform.

Where Webull falls short

No reciprocal funds : If you ’ ra looking for the easy diversification of reciprocal funds, you wo n’t find them at Webull. Thin educational support : Webull is taking steps to offer more educational content, but compared with other more establish brokerages, its educational resources are still lacking. Cash management : Webull offers no interest on uninvested cash, has no nonpayment investment company for uninvested cash, nor any accessory deposit or cash management product to make up for this, as some brokers do ( such as Ally Invest and Robinhood ). In other words, any uninvested cash will sit idle with no prospect to grow. That said, many nonpayment sweep interest rates are presently a negligible 0.01 %, so in today ’ randomness climate, the wrinkle between offering interest on uninvested cash and not doing so is reasonably thin.

Webull is best for

  • intermediate investors .
  • active traders .
  • Options traders .
  • Cryptocurrency traders .

Webull at a glance

Account minimum

$ 0 .
stock deal costs

$ 0 .
Options trades

$ 0 .
account fees ( annual, transfer, close, inaction )

No annual or inactivity fees ; $ 75 full/partial remove fee .
Tradable securities

  • Stocks .
  • ETFs .
  • Options .
  • ADRs .
Crypto handiness

Webull offers access to 11 cryptocurrencies .
Number of no-transaction-fee common funds not rated .
deal platform

Read more: 580 Credit Score

Browser-based and downloadable background platforms available with progress charts, indicators, screeners and customization .
Mobile app

Mobile app offers advanced features including charts and indicators, newspaper trading, price alerts and voice command .
research and data

News, research and analysis available from Nasdaq Totalview, Thomson Reuters, Refinitiv, Lipper, OPRA ( real-time quotes available spare with one or more options trades per month ), OTC Bulletin Board .
Customer support options ( includes how comfortable it is to find key details on the web site )

24/7 call and e-mail, chat available in mobile app .

More details about Webull’s ratings

Account minimum: 5 out of 5 stars

There is no account minimal at Webull.

Stock trading costs: 5 out of 5 stars

Webull ranks high in terms of cost, with no account minimum and unblock trades on stocks, exchange-traded funds and american english depository receipts.

Options trades: 5 out of 5 stars

Webull is among the few brokerages that offer free options trades. Customers aren ’ t charged a per-trade committee nor a per-contract fee.

Account fees: 3 out of 5 stars

One account fee you might want to watch out for is Webull ’ s transfer fee. Whether you ’ re transferring all of your assets from Webull to another brokerage house or just a few, you ’ ll be charged a $ 75 transfer fee. however, you won ’ thyroxine pay any annual or inactivity fee at Webull.

Tradable securities: 1 out of 5 stars

Despite a robust offer for active traders, Webull lacks access to some coarse securities, such as common funds and bonds. For investors concern in saving for retirement in an IRA, this could make it harder to truly diversify across assets traditionally found in a retirement portfolio.

Crypto availability: 5 out of 5 stars

Webull gives investors the ability to trade 11 cryptocurrencies. however, it ‘s authoritative to note that presently, users ca n’t send or receive coins to or from their Webull account. The entirely choice is to sell for USD if you want to withdraw. While this does n’t affect Webull ‘s crypto score when compared with other stock brokerages, it ‘s one argue Webull does n’t score vitamin a well on our roundup of the best crypto exchanges and platforms. Cryptocurrencies available on Webull include : Bitcoin, Ethereum, Bitcoin Cash, Litecoin, Dogecoin, Zcash, Stella Lumens, Ethereum Classic, Cardano, Dash, and Shiba Inu.

Number of no-transaction-fee mutual funds: Not rated.

Webull does not offer any reciprocal funds.

Trading platform: 5 out of 5 stars

New investors might be overwhelmed by the issue of charts, graph, indicators and screens at their disposal, but thanks to the clear interface, person with even a little bite of have can promptly start to figure it out. And this truly is where Webull excels : marrying the minimalist look and feel the mobile-first generation is accustomed to with the capabilities of a more advance merchandise. This besides helps Webull achieve the reasonably singular feat of creating a platform that bridges intercede level trade and promote trade, ushering users along their investment travel as they gain more experience.

Mobile app: 5 out of 5 stars

Webull has a highly rated mobile app, which makes sense, considering it ’ south targeting mobile-first customers. Within the app, users can access advanced features, like charts and indicators, a wallpaper trading bill and voice command functionality.

Research and data: 3 out of 5 stars

Webull doesn ’ metric ton offer a huge survival of third-party research, but it does provide news, research and analysis from strong sources, including level 2 market data powered by Nasdaq TotalView ( though this requires an extra subscription after a free 3-month test ), Reuters, Refinitiv and Lipper.

Customer support options: 4.5 out of 5 stars

Webull offers 24/7 customer support via telephone and electronic mail.

Is Webull right for you?

If you ’ re a on-key founder, or if you ’ ve yet to build a well-diversified, long-run portfolio, there may be other brokers better suited for you. however, if you ’ ve got an intermediate charge of experience, are concern in active deal or are hoping to improve your trade skills through advance orders and technical analysis, Webull could be a good suit — particularly considering its low price point compared with brokers with alike offerings.

How do we review brokers?

NerdWallet ’ s comprehensive examination review action evaluates and ranks the largest U.S. brokers by assets under management, along with emerging industry players. Our calculate is to provide an independent judgment of providers to help arm you with data to make voice, inform judgements on which ones will best meet your needs. We cling to strict guidelines for column integrity.

We collect data directly from providers through detail questionnaires, and conduct first-hand testing and observation through provider demonstrations. The questionnaire answers, combined with demonstrations, interviews of personnel at the providers and our specialists ’ hands-on research, fuel our proprietorship assessment process that scores each supplier ’ sulfur operation across more than 20 factors. The final output produces star ratings from poor ( one star ) to excellent ( five stars ). Ratings are rounded to the nearest half-star. For more details about the categories considered when evaluation brokers and our work, read our entire methodology.

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Category : Finance

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