This is yet another WeBull review article on the web. The thing is, there are many reasons to love WeBull. If you are new to investing, then you have probably heard of WeBull. WeBull – along with Robinhood – has been known as the “gateway” app for new investors. Biggest reason? They offer entirely commission-free trading.
What is WeBull?
Webull Financial is a zero commission, zero-fee, no minimums, self-directed US broker. WeBull is a trading platform that offers commission-free trading on everything from stocks to options to cryptocurrency. WeBull is known for providing an easy-to-use platform with many features, all at zero cost to us.
Hold on a second. The obvious next question is, how does WeBull make money then?
There are other ways that brokerages make money besides commissions, and WeBull utilizes most of them. They are Payment for Order Flow, Stock Loan, interest on free credit balances, and margin interest.
Biggest source being Payment for Order Flow.
From Wikipedia, “In financial markets, payment for order flow refers to the compensation that a broker receives, not from its client, but from a third party that wants to influence how the broker routes client orders for fulfillment” https://en.wikipedia.org/wiki/Payment_for_order_flow
Payment for order flow has been controversial, but at the end of the day, we believe that benefits that you we get in the form of $0 commission outweigh the cons. Read more about how WeBull makes money, here.
Who is WeBull For?
WeBull is ideal for new investors. That’s because WeBull does not charge a commission on any of its trades and allows you to make fast trades from your smartphone or desktop. Without account minimums, it will enable investors to get started right away with very little money.
How do I get WeBull?
The WeBull app is available on both the Apple Store and the Google Play store. The app is free to download and can be installed and opened in about a minute. If you are looking for a desktop version, check out their main page at https://www.webull.com/
What makes WeBull unique?
WeBull is known for its easy-to-use interface and its free commission trading. Also, WeBull offers free stock when you deposit money into your account. Because of this, WeBull is one of the most popular trading apps.
What can I trade on WeBull?
You can trade stocks, options as well as select cryptocurrencies such as Bitcoin. You can also trade our favorite exchange-traded funds (ETFs). Most portfolios on Mguide.co are ETF constructed portfolios. With WeBull, you can buy all of our portfolios completely Commission-Free.
Stock trading on WeBull
If you are starting as an investor, then you will look at the stock trading services. WeBull allows you to select your stock quickly and use a scrolling feature to decide how much of your cash you want to dedicate to each position. This makes it very easy to allocate cash amongst positions if you are buying entire portfolios.
Once you have decided to buy or sell, you will be asked to confirm your trade. There is an option to skip the confirmation screen on future trades. After you have confirmed your trade, the broker sends your trade to the exchange for processing. WeBull will notify you when the trade has been partially or fully filled.
Overall, stock trading on WeBull is pretty straightforward. You can track all of your stock holdings on a list. You can arrange the list to show your holdings sorted by daily gains/losses, total gains/loss, total equity, and daily equity change.
Options trading on WeBull
WeBull allows you to trade options pretty quickly. However, WeBull is not the best place for experienced or frequent options trades. The options chain is pretty straightforward and does not offer too much information on a particular option.
If you are a Mguide.co reader, we don’t talk about options, especially early in your investing journey, as it can be too risky for beginners. If you are more advanced and looking for a professional trading platform to execute complex option trades, WeBull might not be for you.
The overall look of the graphics and the information on WeBull is clean and easy to read. We are fans of the black background. Graphs display the information well and get straight to the point without too many complications. The app can do an excellent job of communicating lots of information on one smartphone-sized screen.
To access your portfolio and make a trade, you will need to enter a six-digit code. This security level is a little more advanced than the Robinhood, where you need to tap in a four-digit code. So far, there has been no security breach on WeBull.
What type of research tools are available?
WeBull offers many research tools that can help us do further research beyond what’s available on our site.
- Screener – A screener is a tool that allows you to find a list of stocks based on specific criteria. For instance, you can use a screener to find stocks making new 52-week highs and new 52-week lows.
- Analyst ratings – Before you trade a stock, you can check to see what top Wall Street analysts think of a stock.
- Price targets – Several Wall Street analysts will offer price targets on stocks or commodities. This can help you decide if a trade is right for you.
- Company news – WeBull provides breaking news on various companies that can move the underlying stock price.
- Research reports – Research reports can help you better understand a stock or a company before making an investment decision.
- In-house analysis – WeBull also offers its in-house analysis on some of the most popular traded stocks.
WeBull Review – Pros
There are many reasons to consider WeBull as your primary brokerage. Here are some of the most significant advantages of trading on WeBull.
- Commission-free trading – If you are a beginner or not, you will appreciate the fact that there is no commission on any stock, ETF, option, or cryptocurrency trades.
- Fast set-up – With WeBull, all you need to do is download the app and install it. Accounts are easy to open or transfer from another brokerage. There are no minimum requirements either.
- Easy to use – WeBull is designed to be user-friendly. Even if you have never traded a stock before, you will be able to navigate the WeBull platform easily.
There are also more advanced investment options for you down the line when you decide to expand your portfolios into more “exotic” asset classes.
- Crypto trading – If you like to trade cryptocurrencies, you will be able to trade the most popular crypto coins, including Bitcoin and Ethereum.
- Options trading – With WeBull, you can also trade options with no commission.
- Active community – WeBull has an active community of users that makes the investing experience more engaging.
WeBull Review – Cons
With any trading platform, you will have some disadvantages along with advantages. Here are some of the cons.
- No penny stock trading – If you are looking to trade penny stocks, you may want to consider a different platform. WeBull offers new penny stock trading.
- Not advisable for advanced traders – Experienced investors may want a trading platform that provides more advanced tools and more trading options.
- No live customer support – WeBull does not provide live support. This can be an issue if you have a problem with your account.
- No mutual funds – For those looking to trade mutual funds, you may want to consider another platform.
- Minimal educational training – WeBull doesn’t offer you the level of educational training as other trading platforms and brokers.
- No interest on uninvested cash – WeBull does not pay any interest on your uninvested cash.
- Slow fills on complex options trades – We do not recommend WeBull for advanced options traders.
- Inability to transfer cryptocurrency – You can not move your cryptocurrency to another platform.
The bottom line on WeBull
We’ve gone through a lot in this webull review. Overall, it offers you a great “starter” trading platform. With its ease of use and free commissions, new traders will be able to get into investing quickly. If you would like to start using the WeBull trading app, download it from the Apple store or the Google Play store.
If you are not sure where to start with your investing, check out our simple to use 3-Step Investment Guide to get you going.