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Overall rating
| Feature | Insider rating (out of 5) |
| Fees | 5.00 |
| Investment selection | 4.00 |
| Access | 4.40 |
| Ethics | 3.00 |
| Customer support | 4.75 |
| Overall score | 4.24 |
Webull Review: Is Webull right for you?
Webull is an online discount brokerage offering commission-free trading, retirement accounts, cryptocurrency trading, and margin trading. However, many of the best online brokerages offer a wider range of investment options than WeBull, which is better suited to new investors interested in active trading.
The company also offers several other key features, including free real-time market quotes, full extended-hours trading, and 24/7 online customer support.
However, one downside of the brokerage is that it doesn't offer any automated investing accounts, nor does it support IRAs outside of traditional IRAs and Roth IRAs.
You can use the Webull mobile app on iOS and Android devices.
Webull vs. Interactive Brokers
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Min. Investment $0 ($2,000 for margin trading) | Min. Investment $0 ($100 to $50,000 for automated advice) |
Fees 0% ($0 for options contracts; 1% spread for cryptocurrencies) | Fees $0 for IBKR Lite ($0.65 for option contracts); $0.0005 - $0.0035 per share (IBKR Pro); 0.08% to 1.5% for automated advice |
Investment choices Stocks, ETFs, options, ADRs, and cryptocurrencies | Investment choices Stocks, options, futures, currencies, metals, bonds, ETFs, mutual funds, hedge funds |
| Start Investing | Start Investing |
Webull and Interactive Brokers both offer commission-free trading for investments like stocks and ETFs.
However, Interactive Brokers could be a suitable fit for more types of investors. It offers self-directed brokerage accounts, automated investing accounts, IRAs, and other wealth-building products.
Webull is a better choice for options traders, as it charges $0 per options contract.
Webull vs. Robinhood
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Min. Investment $0 ($2,000 for margin trading) | Min. Investment $0 ($2,000 for margin trading) |
Fees 0% ($0 for options contracts; 1% spread for cryptocurrencies) | Fees 0% ($0 for option contracts) |
Investment choices Stocks, ETFs, options, ADRs, and cryptocurrencies | Investment choices Stocks, ETFs, options, ADRs, and cryptocurrencies |
| Start Investing | Start Investing |
Webull and Robinhood are good choices for beginner active traders in search of low-cost brokerage products and simple user interfaces. But Robinhood is a better choice for IRA investors since it offers a 1% match on investor contributions in its recently launched traditional and Roth IRAs.
Webull, however, is better for those in search of perks like extended hours trading and advanced market data.
Ways to invest with Webull
Brokerage accounts
Webull primarily offers individual cash and margin brokerage accounts. Accounts have no minimum account requirements, nor do they charge commissions on US-listed stocks, ETFs, or options. However, some of Webull's regulatory agencies and clearing firms still apply small fees on each trade.
For instance, the US Securities and Exchange Commission (SEC), Financial Industry Regulatory Authority (FINRA), and the Options Clearing Corp. (OCC) all charge less than $0.05 for certain stock, ETF, and option transactions.
Webull's margin accounts give you extra buying power by allowing you to use any securities you own or unsettled funds to buy additional securities. You'll need a minimum of $2,000 to get started.
You can also trade multiple cryptocurrencies through the platform. Webull currently supports bitcoin, ethereum, bitcoin cash, litecoin, dogecoin, zcash, stella lumens, ethereum classic, cardano, dash, and shiba inu.
While the cryptocurrency market is always available 24/7, Webull's extended hours trading feature makes it possible to trade traditional investments like stocks and ETFs from 4 a.m. to 9:30 a.m. or 4 p.m. to 8 p.m (The stock market's normal hours last from 9:30 a.m. to 4 p.m. Eastern Time).
Retirement accounts
Webull supports traditional IRAs, Roth IRAs, and rollover IRAs. So in other words, you can set up an individual retirement account and contribute with pre-tax or post-tax contributions. In addition, you can rollover your employer-sponsored retirement plan if you choose.
Webull's IRA accounts only allow stock and ETF trading.
Webull: Is it trustworthy?
Webull has received an F rating with the Better Business Bureau. The BBB uses a grade range of A+ to F when rating companies, so this is the lowest score a company can receive. The BBB also says on its website that its ratings don't guarantee whether a company will be reliable or perform well; its ratings mainly take customer complaints into account. It's best to do your due diligence before making a final decision.
According to its website, the BBB has given Webull an F for multiple reasons, including government actions against the brokerage and Webull's failure to respond to customer complaints.
In 2021, Webull (along with Robinhood, TD Ameritrade, and other brokerages) temporarily restricted trading on Gamestop (GME), AMC Entertainment (AMC), and multiple other stocks whose prices skyrocketed due to a Reddit-related short squeeze. This elicited a lot of user backlash, but the investment app eventually resumed trading of the stocks.
BBB data shows that Webull has closed more than 40 complaints in the last 12 months. Its profile shows that it currently has 12 unresolved complaints and 56 unanswered complaints.
Webull — Frequently asked questions (FAQ)
Webull offers some alluring features and perks for beginner traders. For instance, when you sign up, you get a free stock. It additionally offers an easily navigable user interface, with commission-free trading, IRA investing, and more.
But while it's good for beginners who are ready to trade on their own, it isn't the best choice for those who still want guidance along the way. You'll be best suited with a robo-advisor or financial advisor if you're not ready for self-directed trading.
Yes. Like all investment platforms, you can both make and lose money with Webull. However, the brokerage gives you a vast suite of investment products for building wealth, including stocks, ETFs, options, ADRs, and cryptocurrencies.
Webull's account types are limited to individual accounts and traditional, Roth, and rollover IRAs. It's best to look elsewhere if you're searching for other accounts (e.g., joint accounts, custodial accounts, and others).