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Webull Review 2024

Written by
Adam N.
Fact checked by
Updated
5d ago
Key data
Fees
Safety
Deposit and withdrawal
Account opening
Mobile app
Desktop platform
Product selection
Regulated and trusted. Tested via live trading.
11,947 people chose this broker
Available in United States

Why choose Webull

Looking to elevate your free stock trading experience? Webull gives you the best of both worlds: its beginner-friendly mobile app is as sleek as anything on the market, but it also sports a top-notch trading platform on desktop for advanced users that I really enjoyed playing around with. Webull matches its competitors when it comes to free stock/ETF trading and affordable options trading. It also shares their flaws, including subpar execution prices that indirectly boost your trading costs.

  • Free stock/ETF trading and high 5% interest on uninvested cash
  • Fast and easy account opening
  • Great trading platforms
Overall score
4.5/5
Minimum deposit
$0
Stock fee
Low
Options fee
Low
Inactivity fee
no
Account opening
1 day

Not sure if this is the right broker for you? See the best ones.

See how the best brokers in the United States compare to Webull

US stock fee
Estimated commission of a $2,000 trade, assuming a $50 stock price

Fees

Score: 4.6/5
Webull offers commission-free trading for US-listed stocks, ETFs and options. It currently pays 5% interest on idle cash. There is no withdrawal fee for ACH transfers and no inactivity fee, but wire transfer fees are high.
  • No commission (for stocks, ETFs, options)
  • High, 5% interest on cash balance
  • ACH transfers are free for funding & payout

We compared Webull's fees with two similar brokers we selected, moomoo and Robinhood. These competitors were selected based on objective factors like products offered, client profile, fee structure, etc. See a more detailed comparison of Webull alternatives.

Commission-free stock and ETFs

It’s extremely great as Webull has commission-free US stock trading.

Broker
US stock
Webull
$0.0
moomoo
$0.0
Robinhood
$0.0
Webull stock and ETF commission

Average margin rates

Webull USD margin rate fees are slightly lower than the industry average. USD margin rate fees are calculated as follows: Margin rate ranges between 9.74% and 5.74% depending on your debit balance

Broker
USD margin rate
Webull
9.7%
moomoo
6.8%
Robinhood
12.0%
Webull annual margin rates

Low options commission

Webull US stock index options fees are about half of the industry average. US stock index options fees are calculated as follows: $0 per trade plus $0.55 contract fee and regulatory and exchange fees

Broker
US stock index options
Webull
$5.5
moomoo
$5.0
Robinhood
$0.0
Webull stock index options commission

Webull doesn't charge any commission for trading options. The broker passes on the proprietary index option fees that the exchange may charge.

No inactivity fee, no withdrawal fee

It charges neither an account or an inactivity fee.

Broker
Inactivity fee
Withdrawal fee
Webull
$0
moomoo
$0
Robinhood
$0
Webull inactivity, withdrawal and other fees

The fees for wire transfers are as follows:

Webull wire transfer fees
Wire transfer type and direction Fee per transaction
US domestic deposit $8
US domestic withdrawal $25
Non-US deposit $12.5
Non-US withdrawal $45

For transferring out securities from your account, Webull charges a $75 fee.

There is no deposit or withdrawal fee if you use ACH (electronic) transfer. However, wire transfers have a rather high fee. We tested ACH, so we paid no withdrawal fee.

Safety

Webull is regulated by top-tier financial authorities that provide a high amount of investor protection. On the negative side, it is not a listed company and thus does not publish any financial information.
  • Majority of clients belong to a top-tier financial authority
  • High level of investor protection
Read more

Deposit and withdrawal

Score: 1.3/5
At Webull, you can use only bank transfer to add or withdraw funds and wire transfer fees are high. As a plus, transferring money is user-friendly and ACH transfers are free.
  • No deposit fee
  • User-friendly
  • Free ACH deposit and withdrawal
Read more

Account opening

Score: 5/5
Webull's account opening process is seamless, fully digital, and verification takes less than a day. However, the broker only accepts clients from the US and Hong Kong.
  • Fast
  • Fully digital
  • No minimum deposit
Read more

Mobile app

Score: 5/5
Webull's mobile app is user-friendly and well-designed. The platform has every feature you may need, including an advanced order panel, price alerts and two-step login.
  • User-friendly
  • Two-step (safer) login
  • Good variety of order types
Read more

Desktop platform

Score: 5/5
Webull's desktop trading platform has the exact same functionalities and design as the web trading platform.
  • User-friendly
  • Good customizability (for charts, workspace)
  • Good variety of order types
Read more

Product selection

Score: 2.3/5
Webull has a limited product portfolio that includes only US stocks, ETFs and options. Popular asset types such as funds, bonds, forex and crypto are not available.
Read more
“A relative newcomer to the online trading industry, Webull launched in 2018 as a mobile-only platform, adding desktop capabilities in 2020. It is owned by a Chinese consortium, and only accepts clients from the US and Hong Kong. Its platforms are easy to use and suitable for inexperienced traders, with research capabilities and advanced order types that appeal to more sophisticated clients. Customers can trade stocks, exchange-traded funds, cryptocurrencies, and options, but there are no mutual funds or fixed income offerings. Uninvested cash earns interest, with no minimum requirement, that is much higher than the industry standard.”

FAQ

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Author of this review

Adam Nasli

Trading • Safety • Market Analysis

I bring extensive financial expertise as one of BrokerChooser's earliest team members. Personally, I tested nearly all 100+ brokers on our site, opening real-money accounts, executing trades, assessing customer services, and providing firsthand assessment. My professional background includes roles in the banking sector and a degree from Central European University, where I teach finance. My passions lies in in-depth research of the financial industry, building trading algorithms, and managing long-term investments.

Everything you find on BrokerChooser is based on reliable data and unbiased information. We combine our 10+ years finance experience with readers feedback. Read more about our methodology.

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