Webull Brokerage: What You Need to Know

Webull stock trading

Estimated reading time: 5 minutes

I’m sure you have one or more friends who have talked about earning passively by trading stocks online. And it may have crossed your mind or maybe you have already started doing the same. However, there just may be too many obstacles to overcome to get your head around it.

Having said that, the Webull app just might be the tool you need. It has some of the lowest brokerage charging fees and some pretty unique features.

So, without further ado let’s dive into it.

Webull Brokerage: What People Want to Know

What Is Webull?

Webull is an online investment trading that allows you to trade without commissions at a $0 deposit requirement. This trading investment gives you a Webull FREE stock too. Yes, you heard that right. Too good to be true? Well, it is true.

You can access this online trading through the mobile app or the web using your desktop or laptop. This means you can trade anytime anywhere. It allows you to open individual and cash margin accounts.

Webull Desktop

Webull also has plenty of order types that can cater to all types of investors. It has no dividend reinvestment program (DRIP) available. Any dividends you get paid out of goes right back to your buying power so that you can use it for anything you want.

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Who owns Webull?

Webull or Webull Financial LLC is a $10 billion trade value company founded by Wang Anquan who owns 35% of the shares. Mr. Anquan is part owner alongside Xiaomi Inc. (14%), Shunwei Capital, Hongdao Capital, Bojiang Capital, and Gopher Asset Management.

How Does Webull Make Money?

The company rakes in its bucks through interest on cash balances, order flow payment, and margin lending. Your order flow is being sold to wholesale market makers to compensate for their costs since they offer $0 trades.

Domestic clients are charged with an $8 deposit fee for wire transfers and a withdrawal fee of $25. While International clients are charged $14 and $45 respectively.

How Do You Invest in Webull?

Just by simply signing up for a brokerage account you automatically get a free stock that can be valued from $2.5 up to $250! However, that promo ended last May 31, 2021.

But the chance to get free stocks valued anywhere between $8 to $1,600 is still on the table when you invest $100 or more as an initial deposit.

If you want to prepare for your retirement, Webull supports Rollover, Roth, and traditional IRA as well. You have so many options.

Does Webull Have a Referral Program?

Webull sometimes has promos such as the Give and Get Webull Referral Program. This applies to current Webull clients that have a trading account. The way it works is if any of your friends deposit at least $100 or more within 30 days after their approval, you will be rewarded with 2 free shares of stock.

Webull free stock

That’s one great investment if you ask me. These promotions change from time to time so just be on the lookout for such and take advantage of them.

What Makes Webull Better Than Other Investment Trading Online?

Webull’s interface is user-friendly and well designed to accommodate traders who are just starting out or even experienced ones at that. The capabilities offered by Webull vs Robinhood are even way better.

Pros

  • Free to utilize option trading
  • Extended trading hours
  • Data amount that is made available is great for those who want to follow through with the fundamental and technical strategies
  • It has a 24-hour live support service
  • ETFs and individual stocks
  • Paper trading available which effectively allows you to practice in the market with fake money to see what happens with real data in real-time
  • Webull doesn’t charge you even if you have a huge amount sitting on your account
  • Allows you to have an IRA account so you can prepare for your retirement
  • If you open an account you get up to 4 stocks worth up to $1,600 for just $100

Cons

  • Doesn’t have fractional shares available
  • You have to buy by the share price, not by the dollar amount
  • No mutual funds or bonds available
  • Lack the features and tools for everyday trading when it comes to competing with other trading industry leaders with ETF and $0 stock trades
  • Can be cumbersome at times

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The most unique feature that Webull has is the Market Replay Feature. This allows investors to review a time-lapse video of the stock chart that happened on a certain day. This gives them a unique perspective of getting the feel for how the market prices played out. You practically aren’t missing a beat by missing a beat… you know what I mean?

So take Webull by the horns and be in control of your investments.