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Webull App Review: The Ultimate Commission Free Stock Trading App

Jun 13, 2020

In today's Webull app review, we're breaking down one of the best commission-free stock trading apps for beginners. With the ability to invest in thousands of stocks and ETFs, built-in paper trading, and access to in-depth stock market data and research, it's no wonder why Webull is becoming a clear choice for new stock market investors and traders. 

I’ll be covering all the app’s features, breaking down it's pros and cons, and even show you how you can easily get up to 2 free stocks (valued up to $1650 for a limited time) 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


 

☑️ 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

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What Is The Webull App?

WeBull is a commission-free stock trading app designed for both new and experienced 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 interested in trading stocks, this is an important advantage over most traditional brokerages.

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

These features, in addition to their one-of-a-kind paper trading, can help new stock traders and investors make more informed trading decisions. We'll discuss the advantages of their paper trading feature in just a bit. 

 

Investments

Webull currently supports over 5,000 single stocks and ETFs in the US that you can either trade or invest in. They've also recently introduced the ability to trade options (also commission-free), and are soon rolling out cryptocurrency trading as well. 

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.

This is another great advantage for new Webull users, as many traditional brokerages require up to $500 to open a new investing account.

 

Getting Started

One of the things I like about getting started with Webull is that they give you instant access to your funds. When you deposit money into your Webull account, you’ll have access to trading and/or investing those funds instantly. 

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

If you're ever worried about having the time to constantly be watching your phone in order to trade stocks, Webull offers an automation feature that automatically trades for you, even when you're away from your phone. These are called order types. 

Webull supports advanced order types including:

  • Market Orders
  • Limit Orders
  • Stop Loss Orders
  • 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. 

If you'd like to learn more about how to use Webull's advanced order types I do have a full in-depth tutorial below: 



 

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.

While most of this data may seem overwhelming at first, having access to it in the palm of your hand can truly help you make more informed trading decisions. Not to mention, you can also take advantage of this data by first practicing with their paper trading feature. 

 

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?

New stock traders

  • Webull’s 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 has no monthly account maintenance fees. There are also no trading fees or surprise commissions.

Intermediate and experienced traders who want to save on commissions

  • Several advanced order types allow you to automate your trades.
  • Margin trading with no monthly subscription fee (again, only recommended for advanced traders)

 Technical traders

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

 

Cons

Who would I not recommend the Webull app for?

Not as ideal for passive investing

  • Webull is designed for active stock trading. While Webull can be used as a platform for buy and hold investing, the bulk of their features are geared towards short term trading.
    • Active stock trading may require more portfolio management and research than pre-built diversified portfolios.
  • If you're instead looking for an investing app more geared towards passive investing, you may want to compare Webull with AcornsStash, or M1 Finance. 

Not as ideal for less active traders

  • This app's 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 trading. 
  • If you're new to stock trading and find Webull's advanced charts and data overwhelming, you may want to consider Public or Robinhood

 

Sign Up Bonus

For a limited time, readers of the Everyday Investing community can now get up to 2 free stocks on Webull when you join here. Simply open an account, and get your first free stock valued between $2.5-$250! Next, when signing up, make an initial deposit of $100 or more and get a second free stock valued between $12-$1400! 

There are a couple of nice advantages with Webull's free stock promotion:

  1. If you are not ready to trade yet, you can still earn your 2 free stocks. When signing up, simply deposit at least $100 into your account to be eligible to claim the sign up offer.

  2. If you are not ready to trade or invest your $100 yet, you can always practice trading/investing with Webull's unique paper trading feature before using your real funds.

  3.  If you get a free stock you don't like, you can always sell your free stocks and use that money to reinvest into stocks you actually do want to own. 

If you've ever been interested in getting started trading or investing in stocks, we'd definitely recommend taking advantage of this offer, as it only comes around a few times a year. 

 

Final Thoughts

If you're looking to get started with trading stocks, Webull's commission-free platform, paper-trading feature, and built-in data make a lot of sense. However, if you're more interested in passive investing, then you may want to compare Webull with AcornsStash, or M1 Finance.

If you'd like to try out the Webull app and claim your 2 free stocks, 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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