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Webull Review – Commission Free Stock & ETF Trading

At a Glance
Webull Logo
4.2 / 5
Rating

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  • Account Opening Bonus: Open an eligible Webull account to earn a free stock worth $3 to $300 per share, then fund your account with at least $5 to receive a free stock valued between $8 and $2,000 per share. You must complete qualifying activities by the stated offer end date when you open your account.
  • Investment Products: Stocks, ETFs, options, cryptocurrencies.
  • Investment Account Types: Taxable brokerage account, traditional IRA, Roth IRA, rollover IRA.
  • Additional Features and Capabilities: Paper trading, margin trading, advanced charting tools, Nasdaq Level II market data, stock screeners, watchlists, hot keys.
  • Advantages: Commission-free stock and ETF trading, access to cryptocurrencies with very low minimums, great account opening bonus, advanced analytics and stock market data, fractional shares available.
  • Disadvantages: Key account types missing from Webull’s lineup, few alternative investment options, no bonds or mutual funds available.

Webull is an online stock broker that offers commission-free trading for individual stocks and ETFs with no deposit minimums or minimum balance requirements. Although it’s not as widely recognized as other user-friendly fractional share investing platforms like Robinhood, Webull is cut from the same cloth and stands out as a potential alternative to its better-known competitors.

Webull has some other advantages worth noting, including an attractive account opening bonus and a powerful collection of charting and research tools appropriate for novices, intermediate traders, and sophisticated day traders alike. And, although Webull doesn’t have a comprehensive inventory of alternative investment options, its users can easily buy cryptocurrencies and options.

If you’re looking for a new trading experience, Webull is worthy of your consideration. Read on to learn more about the platform’s investing options, features, and selling points.

Webull’s Products and Key Features

Webull stands out for its generous account opening bonus and commission-free stock and exchange-traded fund (ETF) trading. Other notable capabilities include Nasdaq Level II market data, advanced charting tools and keys for all users, and paper trading for novice investors and those looking to try out new strategies without risking real money.

Account Opening Bonus

Webull has a two-part account opening promotion that’s worth up to $2,300. Participating stocks include Google, Facebook, Procter & Gamble, Starbucks, Kraft Heinz, and Snap.

To claim the first part of the bonus, simply sign up for Webull and open your account. If you complete the account opening process by the stated offer end date at the time you apply (subject to change at Webull’s sole discretion), you’ll receive a free stock valued between $3 and $300. There’s no minimum deposit required to receive this part of the bonus.

To claim the second part of the bonus, simply make an initial deposit of $5 or more to your new account by the end of the offer period. Do this and you’ll earn a free stock valued between $8 and $2,000 per share.

Note that this entire offer applies only to Webull cash and margin accounts.

Available Investment Products

Webull offers access to four distinct types of investment products:

  • Stocks: All Webull users are eligible to purchase exchange-traded stocks, including fractional shares where available. Webull does not charge commissions for trading stocks.
  • Options: Webull users can trade options contracts with no commissions, contract fees, assignment fees, or exercise fees, making it one of the few truly free options trading platforms. Bear in mind that options trading involves significant risk.
  • ETFs: Webull offers access to invest in exchange-traded funds (ETFs), or baskets of individual equities (stocks and other market-traded instruments) designed to replicate the performance of specific market sectors, indexes, or themes.
  • Cryptocurrencies: Webull offers access to popular digital currencies with a low $1 trading minimum. Available crypto choices include Bitcoin, Bitcoin Cash, Ethereum, Litecoin, and Dogecoin.

Available Account Types

Webull users can structure their accounts as taxable investment accounts (general investing accounts) and three types of individual retirement account (IRA): traditional IRAs, Roth IRAs, or rollover IRAs.

Research and Analysis Tools

Webull has some useful analytics and research tools for account holders. Unless otherwise noted, these features are available free of charge on Webull’s website — including for users without Webull accounts — or within users’ trading dashboards.

  • Stock Screeners: Webull’s platform has a robust stock screener feature that allows users to sort and filter stocks as they please. Screening criteria include market (region, exchange, sector), technical indicators (more than a dozen in all), financial indicators (such as earnings per share), analyst ratings, and more.
  • Stock Watchlists: Webull users can compile customized lists of stocks to watch and set triggers for real-time alerts, such as movement below a specific price threshold or above a particular volume threshold.
  • Charting Tools: Webull supports in-depth technical analysis for stocks and ETFs with an impressive array of basic and advanced charting tools.
  • Nasdaq Level II Market Data (Nasdaq TotalView): Webull users enjoy access to Nasdaq Level II market data (Level 2 market data) through Nasdaq TotalView, a paid subscription service (fees vary). Level II market data shows multiple bids and asks for covered equities in real time, making it ideal for active traders looking for more granular insights into short-term market movements.

Additional Features and Capabilities

The Webull desktop platform and mobile trading app have some additional features and capabilities for users.

  • Hot Keys: Webull users can use the platform’s standard hot key combinations within the desktop platform to execute a variety of research, analysis, and trading maneuvers. Webull also allows users to create custom hot keys for less common actions. In both cases, this feature is useful when seconds matter.
  • Margin Trading: In addition to the standard Webull cash account that’s available to all users, Webull allows margin trading for users with at least $2,000 in their accounts (per regulatory guidelines). Margin traders can borrow from Webull at competitive interest rates (margin rates) to increase their leverage in the market. Bear in mind that margin trading carries significant risk and may magnify trading losses, so it’s not for novices.
  • Paper Trading: Webull’s paper trading feature lets users try out new trading strategies and backtest market maneuvers without committing their own money.
  • Full Extended Hours Trading: Webull offers full extended hours trading for all users, providing access to U.S. premarket and after-hours trading sessions. This is a big advantage for day trading professionals looking to take advantage of thin extended hours trading volumes and for active traders whose day jobs preclude them from actively watching the market during regular trading hours.

Advantages

Webull is a very low-cost online brokerage with a nice range of products and a strong account opening promotion.

  1. Webull Offers Commission-Free Stock and ETF Trading. Webull is one of a growing number of truly commission-free stock and ETF brokers, from mobile-first platforms like Robinhood to full-service brokerages like TD Ameritrade. Still, commission-free trading positions Webull ahead of brokers that still charge by the trade.
  2. Webull Allows Cryptocurrency Trading. Webull has more than a dozen cryptocurrencies in its inventory, from well-known and highly liquid coins like Bitcoin and Ethereum to lesser-known options. The minimum crypto trade value is just $1.
  3. Webull Has an Excellent Promotion for New Account Holders. Webull’s account opening promotion is worth as much as $2,300, although most new users realize far less value.
  4. Webull Offers Advanced Analytics and Market Data at No Additional Cost. With the exception of Nasdaq TotalView, which requires a separate subscription, Webull’s advanced analytics and charting tools cost users nothing to exploit. Compared with Robinhood, Webull is much more friendly to advanced traders as a result.
  5. Webull Users Can Buy Fractional Stocks, ETFs, and Cryptocurrencies. Webull allows fractional share investing for all users. This is very good news for low-asset investors who can’t afford to build truly diversified portfolios with full shares alone.
  6. Webull Offers Full After-Hours Trading (Extended Trading Hours). Webull users have access to both extended trading hours sessions (premarket and after-hours trading). This is an important advantage for day trading professionals whose strategies aren’t confined to regular U.S. market hours.
  7. Favorable Options Pricing. Webull is one of the few online brokers that offers truly free options trades. Options traders don’t pay contract fees, exercise fees, assignment fees, or options trading commissions with Webull.

Disadvantages

Webull’s downsides include a lack of some key asset and account types that could be problematic for more advanced users.

  1. Webull Doesn’t Allow Direct Bond Purchases. Webull users can’t purchase government or corporate bonds directly on the platform. Although Webull does offer access to ETFs designed to mirror the performance of bond indexes or sectors (bond funds), it’s not appropriate for investors whose strategies rely on owning individual coupons.
  2. Webull Doesn’t Have a Full Range of Alternative Investment Options. Although Webull offers access to two types of alternative investments (options and cryptocurrency), it lacks some other common choices. For example, you won’t find any forex pairs or commodities futures at Webull. This is another downside for sophisticated investors and traders.
  3. Webull Users Can’t Buy Mutual Funds Directly. Webull doesn’t offer direct access to mutual funds, which many high-asset investors — particularly those working with financial advisors — prefer to ETFs. That said, Webull does offer ETF versions of some mutual funds.
  4. Some Common Account Types Are Missing From Webull’s Lineup. Webull has four account types: a taxable general investing account and three types of IRAs. This lineup is adequate for many users but doesn’t accommodate investors looking to set up employee or self-employed retirement accounts, nor users seeking tax-advantaged accounts to save for future education expenses.
  5. No Managed Investment Options. While it’s great for self-directed investors and traders, Webull doesn’t have a robo-advisor or managed investment option. This is a fatal flaw for passive investors who prefer not to trade every day — or even check their investment account balances every day.

Final Word

Webull has a lot going for it. Like other commission-free online brokerages, it charges users virtually nothing to buy and sell securities. It has a very good account opening promotion for new users. And it offers a surprisingly comprehensive lineup of analytics and research tools for users, matching or exceeding competing online brokers’ offerings.

Webull does have some notable drawbacks that could give new users pause. Users don’t have access to common investment products like bonds and mutual funds, nor to some popular alternative investment options like forex and commodities futures. Webull also has just four available account types, omitting SIMPLE IRAs, SEP IRAs, and 529 college savings plans, among others.

It’s up to you to determine whether Webull’s advantages outweigh its drawbacks or vice versa. Either way, you’ll want to consider it if you’re in the market for a new online brokerage.

Verdict
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4.2 / 5
Rating

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Webull is one of the better commission-free brokerages around. Its potentially generous account opening bonus, solid lineup of research and analytics tools, fractional share trading, and cryptocurrency access all stand out as advantages. But Webull isn’t as robust as some competing platforms designed for sophisticated traders and lacks some popular investment options and account types.

Editorial Note: The editorial content on this page is not provided by any bank, credit card issuer, airline, or hotel chain, and has not been reviewed, approved, or otherwise endorsed by any of these entities. Opinions expressed here are the author's alone, not those of the bank, credit card issuer, airline, or hotel chain, and have not been reviewed, approved, or otherwise endorsed by any of these entities.

Brian Martucci
Brian Martucci writes about credit cards, banking, insurance, travel, and more. When he's not investigating time- and money-saving strategies for Money Crashers readers, you can find him exploring his favorite trails or sampling a new cuisine. Reach him on Twitter @Brian_Martucci.

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