Webull App Review: The Ultimate Commission Free Stock Trading App

Jul 21, 2019

In today's Webull app review, we're breaking down the commission-free stock trading app with extended hours trading and access to in-depth stock market data and research. I’ll be covering all the app’s features, breaking down it's pros and cons, and show you how you can actually get 2 free stocks when first joining Webull.

Check out our Webull app review below and and see how it compares to today's top investing apps here.


This article contains affiliate links. To learn more, visit our affiliate disclosure.


Our Rating

Webull

☑️ Quick Summary ☑️

- 100% commission free stock trading app  
- Invest in over 5,000 individual stocks and ETF's
- Extensive built-in stock market data, research, and charts
- Paper trading feature (trade paper money to practice before you invest real money)
- Advanced order types for automating your stock trades (market, limit, stop loss, stop limit) 


📊 Try Webull and Get 2 Free Stocks When Joining Here 📊

 


Start With The Morning Brew

Today’s article is brought to you in part by Morning Brew, a free daily stock market newsletter that’s informative and easily digestible. The 5-minute newsletter is perfect for anyone looking to increase their knowledge on the stock market and better understand the must-know information on business, finance, and tech. Get free access and become smarter in just 5 minutes today.


 

What Is The Webull App?

WeBull is a commission-free stock trading app designed for both new and advanced traders and investors. The Webull app is available on both iOS and Android devices. 

With Webull there are absolutely zero fees to buy and sell stocks nor are there any monthly account maintenance fees. If you’re looking looking to get into trading stocks this is an important advantage over most traditional brokerages, which charge $5-$7 per trade. And unless your trading massive amounts of money those fees are going to eat away at your profits.

And while there are already some zero-commision trading platforms such as, the Robinhood app and the M1 Finance App, the Webull app takes it a level further by providing detailed real-time market data, in-depth charts, advanced order types, and several other smart research tools.

 

Investments

Webull currently supports over 5,000 single stocks and ETFs in the US that you can either trade or invest in. They do not currently support options, mutual funds, bonds, as well as stocks that are under $1. 

Account Minimum

There is no minimum investment required to get started on Webull. However, if you want to get the special sign up bonus of 2 free of stocks you will need to invest at least $100 when you sign up.

And while $100 is more than no minimum, it is still a lot less than some larger brokerages, such as Etrade, which require at least $500 to open an account.

 

Getting Started

One of the things I like about getting started with Webull is that when you deposit money into your Webull account you’ll have access to trading those funds instantly. Yes, it will still take a few business days for the transaction from your bank to officially post, but you won't have to wait for that before you can start investing. 

Most investing apps and platforms won’t actually let you invest your money until the bank transfer clears. Webull, on the other hand, lets you start trading and investing immediately.  

Features

Advanced Order types

Webull supports advanced order types including market orders, limit orders, stop loss orders, and stop limit orders.

This is a great advantage for trading stocks as it allows you to automate your trades and have the app buy and sell for you at your desired price points. 

Extended Hours Trading

In addition to advanced order types, Webull also offers free pre-market and post-market trading so you can continue to trade before the market opens and after it closes.

  • Pre-market trading hours:  from 4:00 a.m. to 9:30 a.m. EST (5 hours before market opens)
  • After-hours trading hours: from 4:00 p.m. to 8:00 p.m. EST (4 hours after market closes)

Do keep in mind, that price volatility of stocks is much higher in extended-hours than during normal market hours. So if you do plan to trade during extended-hours trading they recommend using limit orders when placing your orders.

Paper Trading

If you're a beginner to trading stocks you're going to love this next feature. Webull has a built in "paper trading" account which lets you practice your trading skills for free using virtual money instead of risking any of your real money.

In addition, Webull also has paper trading competitions every week that give their users a chance to win free stocks based on the performance of their virtual stock trading account. 


 You can see my full Webull app review in the video below:


 

Data & Research Built In

By far the biggest strength of the Webull app is their built in research and data. Many larger brokerages charge for extra research tools but they are all included for free with Webull.

The Webull app includes the following research tools:

  • In-depth Technical charts
  • Real-Time market Data
  • News
  • Press releases
  • Analyst ratings
  • Historical EPS (earnings per share)
  • Financial calendars
  • Stock screeners
  • Price alerts

Webull also offers several technical indicators, including: 

  • Exponential moving averages
  • Bollinger Bands
  • Money Flow Index
  • MACD
  • RSI (Relative Strength Index) 

And several other indicators as well

 

Margin Trading

There are two different types of individual investing accounts you can open on Webull: a cash account or a margin account.

A cash account is your standard default account which lets you invest with your own funds. 

A margin account gives you the ability to borrow money—potentially increasing your buying power by as much as 50%.

However, because you’re trading with borrowed money, margin accounts hold a lot more risk and are only recommended for more advanced traders. 

So if you’re a beginner or even an intermediate trader I wouldn’t recommend trading with margin, personally.

 

I don’t use margin myself because I don’t want to invest with borrowed money. So I opted to open a cash account with Webull instead.

Now if you do want to open a margin account with Webull you will need at least at least a $2,000 deposit to get started. Margin trading is still commission free and margin financing rates start as low as 3.99%.

And unlike other popular commission-free stock trading apps, such as the Robinhood app, Webull has no monthly subscription fees for having a margin account.

 

Are There Any Fees?

Again, just to recap, there are zero commissions on Webull to buy or sell stocks and there are no account maintenance fees. In addition, there are no fees to access all the built in data as well as the extended hours trading. 

Is Investing On Webull Safe?

As a member of SIPC (Securities Investor Protection Corporation), Webull Financial is SIPC insured against brokerage failure. Securities in member's accounts are protected up to $500,000, including up to $250,000 in cash. For further details, please see www.sipc.org

SIPC insurance is investor protection for investment brokerages. Now unlike a bank's FDIC insurance, SIPC does not protect against the decline in value of your securities. Investments in the stock market are subject to fluctuations in market value. 

However, SIPC protects against the loss of cash and securities – such as stocks and bonds – held by a customer at a financially-troubled SIPC-member brokerage firm. SIPC works to restore to customers their securities and cash that are in their accounts when any potential brokerage firm liquidation begins.

 

Pros

Who would I recommend the Webull app for?

Technical traders

  • With such an immense amount of technical research at your hands this app is ideal for individuals looking to utilize all of that data when trading stocks.

Experienced investors and traders who want to save on commissions

  • There are no trading fees or surprise commissions.
  • Several Advanced order types allow you to automate your trades.
  • Margin trading with no monthly subscription fee (again, only recommended for advanced traders)

New stock traders

  • The built-in paper trading feature lets you first practice trading virtually to get some practice under your belt before you actually trade with your real money.
  • Webull can also save you a lot of money instead of going with a larger brokerage such as Etrade, Fidelity, or TD Ameritrade, where trades can cost $5-$7 per trade.

 

Cons

Who would I not recommend the Webull app for?

Long term buy and hold investors

  • Webull is more designed for short term trading. While it can be used as a platform for buy and hold investing, you are really getting the most out of this app when using it for trading. 
  • If you're instead looking for an investing app more geared towards long term investing I would recommend checking out the Acorns app or the M1 Finance app

Completely new investors

  • This apps greatest strength may also be its greatest weakness.
  • While more experienced investors and traders will appreciate all the technical data and charts packed inside, it can be a little overwhelming if you are completely new to investing and the stock market
  • Again, if you're new to investing in the stock market I would instead recommend checking out Acorns or M1 Finance

 

Sign Up Bonus

Typically when you join Webull and deposit at least $100,  you receive 1 free stock. But since we’ve partnered with Webull, readers of the Everyday Investing community can now get 2 free stocks when you sign up through our affiliate link and deposit at least $100 into their Webull account.

 

Final Thoughts

If you're looking to get started with trading stocks, Webull's commission free trading, extended hours, and built-in data make a lot of sense. However, if you're more interested in platforms for long term investing, then I would recommend checking out the M1 Finance app or the Acorns app

If you'd like to try out the Webull app you can join here.

Or feel free to see how Webull compares to today's other top investing apps here.

 

Need help with investing? We can help you find the right investing platform for your financial goals.

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