- Webull is an online brokerage offering commission-free stocks, ETFs, and options.
- The investment app also provides cryptocurrency trading, margin accounts, and IRAs.
- Webull is best for active traders and DIY investors who want to trade at low costs.
- Click here to set up an account with Webull.
Webull is best for active traders looking for commission-free trades on stocks, ETFs, and options. Though you may have to pay small fees (usually less than $0.01) for each trade, you won’t need to meet a minimum account size requirement to get started.
In addition, the brokerage offers cryptocurrency trading, margin accounts, American Depositary Receipts (ADRs), Nasdaq market data and research, and full extended hours trading. The stock market is open from 9:30 a.m. to 4 p.m. Eastern Time. With extended hours trading, you can also place trades from 4 a.m. to 9:30 a.m. or 4 p.m. to 8 p.m.
Though this investment app offers multiple perks, it may not be the best option if you’re looking for joint brokerage accounts, education savings accounts, or mutual funds. In addition, Webull doesn’t offer any automated investing accounts, so you may need to consider other platforms if hands-off investing sounds more like your thing.
Webull pros and cons
- No minimum deposit
- Commission-free trading on US-listed stocks, ETFs, and options
- Cryptocurrencies and margin accounts available
- Free real-time investment quotes
- No joint brokerage accounts, education savings accounts, or automated investing options
- No mutual funds
- Limited educational resources
Webull primarily offers individual 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 also offers margin accounts and cryptocurrency trading.
Its 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 set up the account.
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 has received an F rating with the Better…