Stock traders are looking for an alternative trading app after Robinhood and TD Ameritrade restricted trading of GameStop, AMC and KOSS, thereby manipulating the stock price to protect billionaire hedgefunds.
I checked with Webull and they just tweeted this:
UPDATE: GME, AMC, and KOSS are no longer restricted.
— Webull (@WebullGlobal) January 28, 2021
Now that I'm inside using Webull, I wanted to do a full Webull Review so you can get ALL the information. Webull offers commission-free US stocks, ets and option trading, and now they just added crypto. The platform is easy to use, well structured and opening an account is seamless and really fast.
Here's what you need to know about Webull.
What is Webull?
Webull is a stock brokerage firm offering zero-commission stock trades and Webull puts you in control of building and managing your portfolio by offering a easy to use desktop and mobile app. That allows you to monitor your investments, watch the markets and get company alerts in real-time.
Webull specialized in four types of investment products:
- Stocks
- Options
- ETF's
- Crypto
Right now, with the launch of crypto trading, they are currently Robinhood's biggest threat when it comes to cornering the highly sought after Gen Z and Millennial markets.
Webull Free Stock offer?
Right now, Webull is offering two free stocks just for opening an account between 11/19/2020 – 11/30/2020. You'll get 2 free stocks valued between $2.50 to $250.00.
If you make an initial deposit of just $100, then you'll get 2 free stocks valued between $8 to $1600 each. That's four free stocks from here 'til November 30th, 2020.
Click Here to Create Your Account and Claim Your 2 Stocks
Disclaimer: The link is our affiliate link. We get compensated from the company that allows us to provide special offers from the company.
Webull Desktop Demo
You can use the desktop with or without logging in. Take a look at the tabs across the top and the sleek interface. The charts are very easy to read.
Webull Desktop (inside look)
Inside the Webull Desktop App, you will see the tabs across the top:
- Charts,
- Options,
- Note,
- News,
- Financials,
- Analysts,
- Order Flow,
- Corp Actions,
- Releases and
- Profile.
The three tabs you'll use the most are: News, Charts, Financials, Analysts to get a reading on each company. Take a look at the news tab below and you'll see how much data comes in every hour. These will alert you to any top news for a company plus alert you when analysts release their picks (i.e. Jim Cramer and John Malone talk steaming stocks)
Webull also allows you download the app.
Webull App (examples)
The Webull app is very slick and easy to use. Once of the many benefits of the app is that you can setup watchlists, get the latest news and alerts PLUS you can see 10-Q reports directly on the Webull app.
Take a look at the screenshots I just took of the app:
Webull vs Robinhood
Robinhood is a similar competitor for Webull. Now that commission-free has taken over the entire industry, then you're left with three things:
- Easy to Use / Fast Trading Interface
- Company News and Alerts
- Stock Analysis and Design Preferences
Both Webull and Robinhood are easy to use. It takes a good 10 to 20 minutes to fully tour the platform. Webull has a nice learning course in the backoffice that explains EVERYTHING. It took a good 45 minutes to go through, but I felt like I knew the platform fully after this course.
Second, both companies have company news, but I like Webull's newsfeed because it includes ways more companies, way more alerts than Robinhood.
Third, I really like the design of Robinhood's backoffice. BUT the mobile app is truly equal in design. The thing that sets Webull apart from Robinhood is the stock analysis.
Fourth, during the Gamestock boom, Webull allowed trading while Robinhood halted trading. Robinhood also went a step further and allowed traders to get repositioned to avoid losses while manipulating the stock price.
Webull Stock Analysis
When I log into the app and the dashboard, I am able to view earnings in both Webull and Robinhood. However, Webull also has Insider Purchases, SEC Filings, Balance Sheets, and Cashflows giving Webull the win.
Webull Review Features
Webull Review - How to Get Started
Summary
Webull is a US based fintech startup offering zero commission fees and discount brokerage services. The company was founded in 2017 and is regulated by the SEC and FINRA. Webull is considered safe and investments are protected up to $500,000, including a $250,000 limit for cash under the SIPC protection.
Overall
-
Easy to Use - /10
0/10
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Value for Price - /10
0/10
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Customer Support - /10
0/10
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Variety of Features - /10
0/10
Pros
- No Fees
- Trade Options, Crypto, ETF's, Stocks
- Easy to Get Started
- Free Education Course to Get Started
- New $1.99 Analysis Tool
- Variety of Download Options
- No Inactivity Fee
- No Withdrawal Fee
- No Minimum Deposit
- Get Four Free Stocks when You Deposit $100
- Paper Trade Simulator
Cons
- No Live Chat
- Limited Deposit Options
Webull Options
An option is a contract between a buyer and a seller. It gives the buyers the opportunity to buy or sell the asset at a specific “strike” price prior to or on a specified date. Options can provide investors with more opportunities than traditional buy or sell strategies.
You can trade options inside Webull. The commission-free options trading extends to all platforms of Webull so that means you can trade on your mobile, trade on your desktop or laptop.
Webull Trading Hours
Knowing the trading hours and settlement rules will help you make better investment decisions?
- The regular hours for the U.S. Stock Market is 9:30 am to 4:00 pm ET.
- The premarket hours for the U.S. Stock Market is 4:00 am to 9:30 am ET.
- The after hours for the U.S. Stock market is 4:00 pm to 8:00 pm ET.
You can trade on the Webull platform during premarket, regular and after hours. That means you can trade from 4:00 am to 8:00 pm EST every trading day.
Time Period for Settled & Unsettled Funds?
Knowing when funds settle will help you make smarter decisions. When you close a position, proceeds will be added to your unsettled cash. It will take 5 business days to fully settle. Right?
If you have a cash account, the revenue will be added to your unsettled cash two business days later. You can use unsettled cash to buy and sell stocks, however, you MUST wait until the money deposits before selling THAT transaction.
Here's an example:
Say you sold 1 share of Apple at $200 on Monday. That means that $200 will be added to your unsettled cash on Wednesday and settles as cash on Thursday. However, let's say on Tuesday, you bought a $200 stock using your unsettled cash. You should NOT sell this stock before Thursday. Remember, Thursday is when the cash settles. If you do sell it, a Good Faith Violation will be triggered.
If you get more than 3 Good Faith Violations within a 12 month time period, your public account will be restricted for 90 days. Think of this as a way to protect both of you in the event that your stock tanks and the settled cash is not enough to cover your purchase.
Webull Voice Command
Okay so this sets Webull apart from the competition. They have a voice command feature that allows you to SAY outloud what you want to do. For example, you can use the Webull phone app to say, “Buy 100 Shares of XYZ at $20.70”.
That is next level. You'll turn that on within the app and specify the buy/sell position, the price, the number of shares and the stock name or the stock symbol. Very cool!
Is Webull Safe?
Your Webull account is protected up to $500,000 (including $250,000 for claims for cash).
Risk Disclosure:
Keep in mind all investments involve risk and the past performance of a security, a stock or financial product does not guarantee future results or returns. Keep in mind that while diversification may help spread the risk, it does not assure a profit or protect against loss in a down market.
There is ALWAYS the potential of losing money when you invest in securities, trade stocks or options and crypto. Investors should consider their investment objectives and risks carefully before investing.
Right now, Webull is offering two free stocks just for opening an account between 11/19/2020 – 11/30/2020. You'll get 2 free stocks valued between $2.50 to $250.00.
If you make an initial deposit of just $100, then you'll get 2 free stocks valued between $8 to $1600 each. That's four free stocks from here 'til November 30th, 2020.
Click Here to Create Your Account and Claim Your 2 Stocks
Disclaimer: The link is our affiliate link. We get compensated from the company that allows us to provide special offers from the company.
Frequently Asked Questions About Webull
The main difference between Webull and Robinhood is that Webull offers more advanced tools and stock analysis within the app. You can trade stocks, options, ETF's and crypto with both companies and execution is fast and straightforward on both platforms.
You can login through the mobile app, the desktop app or the browser app. If you're looking for the login through your browser, click here to login to your Webull account.
There are three ways to download the app. You can try the beautifully designed and easy to use desktop app which is available for windows, mac, android or Apple. Click here to find your device.
This month's promotion is – you open an account before the end of the month, and you get 2 free stocks valued between $2.50 and $250. When you make a deposit of $100 or more, you'll receive another 2 free stocks valued between $8.00 and $1600.00. Click Here to Get Started
Yes. When you download the Webull desktop or the app, they run monthly specials and promotions. You can find it in the upper right corner under “Promotion Center” (see pic below). For example, this month, they have four promotions. Refer 3 friends and get 15 free stock. Deposit $100 or more and get 2 free stock. Complete the course to get another free stock. If you want to make investing fun, this is a great addition that sets Webull apart from the competition.
Right now, Webull is offering two free stocks just for opening an account between 11/19/2020 – 11/30/2020. You'll get 2 free stocks valued between $2.50 to $250.00.
If you make an initial deposit of just $100, then you'll get 2 free stocks valued between $8 to $1600 each. That's four free stocks from here 'til November 30th, 2020.
Click Here to Create Your Account and Claim Your 2 Stocks
Disclaimer: The link is our affiliate link. We get compensated from the company that allows us to provide special offers from the company.
Cash accounts must trade with settled cash in their accounts. When you sell stock, it takes a few days before the cash to settle (think of it just like when you make a deposit in a bank). As long as you have settled cash to cover the trade, you can make the trade.
A margin account can trade on the equity borrowed from Webull. The amount of leverage depends on the status of the account and the stock being traded. Webull offers up to four times day trading levrage and up to two times overnight leverage. Warning: margin accounts carry a large amount of risk and if that stock price drops, you will have to cover the difference.
If you trade with less than $25,000 in your account, then you will be allowed to day trade three times in five business days. Once your cash + stock equity exceeds the $25,000, you can day trade unlimited times per day.
Once you setup your Webull account, it will ask you to connect your bank account. You can login to your bank account directly within the Webull backoffice or you can add your bank account. When you add your bank account, they will deposit two small deposits that you will verify usually within 48-72 hours.
You can trade on the same day if you deposit via ACH before 4:00 pm. Not that it takes up to 5 business days for the cash to settle. You will receive provisional credit which will increase your buying power. Stay aware of the risks because your cash balance might go negative because you are using credit rather than your own cash. The deposit will be added to your cash balance when it settles after 5 business days.
Related Articles:
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- Best Investing Books for Every Investor
- Featured: Investing Training and Tools
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7 Comments
I just signed up with Webull and so far I’m really loving how everything looks. Very easy to use and there are way more callouts than Robinhood.
Just signed up with Webull. Looking forward to a great 2021.
Cheers,
Ros
I just deposited $100 in my Webull account – let’s go.
I just got an Apple stock worth $122!!!! HOLY CRAP!
Made my first profit on Webull selling Tesla calls this week. Thanks for your recommendation.
I am trying to find your TikTok channel but it says it’s NOT ACTIVE? What happened??
I have an etrade and a webull account. I wish eTrade would get on the free stock game because then, I’d only use eTrade!