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Webull Review 2019- A New Millennial Alternative to Robinhood

9/27/2019

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​BY: Tina from ShortMeTina


As an investor and trader who has participated in the stock market for over 15 years, I am constantly looking for trading platforms and online brokerages with an array of features and benefits that gives me a competitive edge in the stock market. 

After all, we know that winning traders have some sort of competitive market edge. 

This isn’t an exhaustive list but a few things that come to mind when searching for a quality online broker are:
  • Fast Execution
  • Low-Commission Costs
  • Security
  • Premium Research and
  • A comprehensive trading platform 

I do look for other things but, at minimum, I need to have the above listed. 

When Webull contacted me to do research, testing and a review of their platform; I was more than willing to take them to task. 
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After spending time using and reviewing their stock trading app; I was impressed with the amount of thought that was placed into building this trading platform. 

Continue reading, I share my thoughts and findings below.  
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​“10 Million Downloads”



About Webull
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​A bit of background about the company that has over 10 million downloads since hitting the ‘online stock trading’ scene in 2018.

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Webull is a registered brokerage firm that offers zero-commission stock trading on U.S. listed stocks and Exchange Traded Funds (ETFs).  Founded in 2017, Webull is regulated by the Securities and Exchanges Commissions (SEC) and is a member of FINRA- the Financial Industry Regulatory Authority.  

Opening an online stock trading account with Webull is quick and simple.  It requires no minimum investments or initial deposits.  
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​“At Webull, we believe that everyone should have
an equal opportunity to control
​their own financial future”

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Webull offers a comprehensive trading platform that’s designed to put traders at an advantage. 

Standout features that Webull offer includes, free stock trading, stock research, real-time stock market data, in-depth charts, economic calendars, paper trading and, $0 commission cost. 

When I first started trading in the early 2000s, these sorts of features were reserved for the elites on Wall Street and they carried a hefty premium if you wanted access to them. 

What Webull has done for the average investor is essentially offer a low-cost and low barrier to entry when it comes to stock trading. 
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In my opinion, there is no better time, than the present, for the average investor to get involved in the stock market.  ​
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​“Opening an account with Webull is quick and simple”

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​Opening an Account
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Opening an account with Webull is quick and easy. 

To open a Webull account, you can download the app via your phone’s app store or you can sign-up via your desktop at Webull.com. 

The registration process is standard and can be completed in a few short minutes.  Account approval typically takes under 24 hours.

You will have to enter demographic information (name, D.O.B, address, etc), answer a few questions regarding your financial situation (income, assets, etc) and provide a way to fund your account.

That’s it!  You’re ready to buy stocks!

TIP: Have a government issued ID card with your photo handy when you’re ready to sign-up for Webull.  You will need this document to open a Webull account.    

TIP: You can access their trading platform without funding an account.  Simply sign-up with your email or phone number. 
 
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​“we believe in empowering the everyday trader with the most powerful tools to make the best investment decisions possible”
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​Trading Platform
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​Before I talk about who Webull is best suited for, let’s discuss their trading platform because this is where I believe they are far superior to many of their competitors, most notably, Robinhood.  

It’s apparent that Webull and its developers took a great deal of time in developing their trading platform to essentially make it a ‘one-stop shop’. 

You can access all the information and tools you need (analyst ratings, real-time stock quotes, charting tools, stock market news, etc) directly from the Webull app or trading platform.  
 
You don’t need to subscribe to multiple financial services, you can access in-depth market analytics and sophisticated charting tools right from the comfort of one application. 

Charting, research, creating a watchlist, buying, selling, etc can all be done from one platform.  

Here are some of the features I find useful that Webull offers:

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Analysis Tools
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Stock Screeners
  • There are well over 5000 stocks and ETFS available to trade on the stock market.  It is near impossible to go through all of them.  Webull’s stock screener allows you to filter and narrow down your stock selection to stocks that meet your requirements.  Effectively allowing you to see the best stocks to buy in a fraction of the time.  Other trading platforms charge as much as $300 per year for this service, Webull provides it to you free of charge.  

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Real-Time Market Data

  • Get quotes and volume in real-time.  You don’t have to deal with delay like some other trading platforms. 
25 Technical Indicators
  • Bollinger bands
  • RSI
  • MACD
  • Moving Averages
  • And more.

Advanced Charting
  • Back test your trading strategy with their ‘playback’ feature.  Market data goes back to the last 5 years.

Advanced Order Types (Coming Soon)
  • We’ve all heard of common market orders such as limit-orders, stop-loss orders, etc.  Webull one-ups the competition by offering advanced orders.   Advanced orders gives you more power and control over how and when your trades are executed.  Some of the advanced orders they provide are:
  • OCO (One-Cancels-the-Other)
  • OTO (One-Triggers-the-Other) and
  • OTOCO (One-Triggers-a-One-Cancels-the-Other)

Advanced orders allow you to live life, limit your screen time and can take the emotion out of trading.  

Let me give you some examples of an advanced order:


  • Example of an advanced order OTO: Buy 100 shares of Apple (AAPL) at $200.  If my first order executes, sell 100 shares of Apple (AAPL) at a stop-loss level of $180. 
 
  • Example of an advanced order OCO: You now own 100 shares of Apple.  Your trading plan have a profit target of 20%, or $40.00 and a max loss of 10%. You place a OTO order with a sell limit order at $240.00 and a sell stop order at $180.00 at the same time, on a OCO order ticket.  If the price goes to $240.00 your sell limit order would execute, while at the same time the sell stop order would be cancelled. If, however, the price falls to $180.00 your sell stop order would be executed and the sell limit order would be cancelled.
 
TIP: If you have further questions regarding these order types you can visit Webulls FAQ page or contact their 24/7 customer support team.  You have the option of emailing them or picking up the phone and speaking with a live representative. 
 
Extended hours trading

Without needing to upgrade or pay an extra added fee; you can participate in extended hours trading.


  • Pre-Market trading hours (4am to 9:30am EST)
  • After-hours trading hours (4pm to 8pm EST).
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This is ideal for those situations where your stock gaps up or down during extended hours trading.  
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​“never miss another trade”
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Alerts
  • Set trade alerts and get notified via email or SMS text message when a stock is approaching a buy or sell point.  You don’t have to spend your life behind a screen waiting for a stock to get within your buy or sell zone.  Set an alert in Webull’s app and get notified when your stock reaches a certain point.  This feature ensures that I never miss another trade. 
 
Additional Features on Webull
  • Advance/Decline Distribution
  • Top Gainers, Top Losers, Most Active, etc.
  • List of companies set to IPO for the day. 
  • Earnings schedule
  • Insider filings
  • Heat Map

Fundamental Trader
It’s apparent by now that Webull took their time in crafting a trading platform for technical traders; however, if you’re one to focus on fundamentals there are features that can aide you in your trading goals.  You can gain access on your Webull platform to:
  • A company’s Income statements, balance sheets and cash flow reports. 
  • Streaming news from sites like CNBC and Bloomberg.
  • Research reports

As you can see, there’s tons to unpack inside the Webull platform.  Allow yourself some time as there is a learning curve in terms of platform navigation.  ​

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"Invest Smart- Trade Free"
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Commissions & Fees
  • Zero Commission
  • No clearing fees
  • Free market data
  • No minimum account balance
  • ACH transfers are free;
  • $8 per deposit and $25 per withdrawal for wire transfers (Domestic)
  • $12.50 per deposit and $45 per withdrawal for wire transfers (International). 
  • $2000 deposit if you’re looking to open a Margin Account.
  • Margin rates 6.99% for up to $25,000
 
 
Security

Your information and monies are safe and secure.

Webull Financial LLC is registered and regulated by the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA).
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It is also a member of the SIPC which protects securities customers of its members up to $500,000 ($250,000 of cash).
Webull’s clearing corporation, Apex Clearing Corp; also offers additional insurance.  As per Webull’s website, the coverage limits provide protection for securities and cash up to an aggregate of $150 million, subject to maximum limits of $37.5 million for any one customer’s securities and $900,000 for any one customer’s cash. Similar to SIPC protection, this additional insurance does not protect against a loss in the market value of securities.
 
Paper Trading

Webull provides you with a trading simulator (demo account) for those that want to practice what they are learning before putting real money on the line.  
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​This is another feature they offer for free and one that can help you develop yourself as a trader, without blowing up any accounts or losing real money. 

If you’re a beginner or looking to try a new strategy; this might be a feature you want to explore. 
As you become better and more proficient as a trader you can always start trading with real money on their platform. 
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Pros & Cons
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PROS
CONS
  • Commission Free Trading
  • No account minimums
  • Extended Hour Trading
  • Comprehensive trading platform
  • Two free stocks valued up to $1000
  • 24/7 Customer Support
Does not support trading for Options (pending), Crypto-currencies, Bonds, Mutual Funds and OTC stocks.  ​
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“Get two free stocks valued up to $1000 dollars”


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​Free Stock-Bonus


At the time of this writing, Webull is currently offering a promotion where you get not one but TWO free stocks for anyone that signs-up and funds their account with $100. 
Get two free stocks valued from $8-$1000 dollars once you open your Webull account.  To ensure you receive your free stock make sure to:


  1. Finish your account opening process within 24 hours (you will receive a stock valued from $2.50-$250). 
  2. Within 30 days of your account approval, make an initial deposit of $100 or more and get a free stock valued from $8-$1000.  


The Bottom Line

Free, Free, Free. 

Webull has pulled out all the stops to incentivize new and seasoned traders to jump on their platform.  From offering up an easy and seamless process to opening an account; to providing you with the tools needed to succeed in the stock market. 
 
Most of these features are extremely valuable to any trader/investor and free to the use. 

 
Is Webull Your Best Bet?

Ultimately, the decision is up to you.  But…
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….If you’re dissatisfied with your current broker, looking to open another trading account or just want to collect your two free stocks; I think this is a no brainer. 

Investing in stocks have never been easier. 
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Open your Webull account today.  
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Disclosure: If you sign-up or open an account with Webull, we will receive an affiliate commission at no extra cost to you. All opinions, however, remain my own. These small commissions we earn will help to keep the content up to date and website running.  
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    Tina "ShortMeTina" Ley (pronounced Lee) holds a Bachelor of Arts in Forensic Psychology and a Master's of Science in Mental Health Counseling and has been a stock market participant for over a decade.  Currently a Full-Time Trader and Blogger of all things financial.  ​


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