Webull Logo

Webull Account Opening

Your expert
Adam N.
Fact checked by
Updated
1w ago
Personally tested Personally tested
Data-driven Data-driven
Independent Independent

How to get to your first trade at Webull as of March 2024?

Reading time: 6 minutes

Choosing Webull as your broker to do your first trade is a good idea, go for it. In this article, we are going to take you through all the steps necessary, from the registration all the way to setting up your first order. At Webull, opening an account is easy, and needs no prior knowledge. If you have opened an account anywhere on the internet before, you pretty much already know what to expect.

To give you a brief summary: Webull is a discount US stockbroker regulated by the top-tier US SEC and FINRA as well as the Hong Kong SFC.

My key findings in a nutshell
Adam
Adam Nasli
Financial Wizard | Regulation • Fighting Scams • Market Analysis

I've thoroughly tested Webull services with our analyst team by opening a real-money account and these are my most important findings:

  • Signing up just takes 15 minutes on average, while the approval of your account could take 1 day
  • You will need to prove your identity and residency with documents. Some examples:
    • Proof of identity: SSN / passport / national ID card / driver's license/tax identification number
  • Webull is a reliable broker regulated by a top-tier regulator
  • Visit Webull's site and start registering now!
Account opening at broker

First, let's see if Webull is available in your country?

Yes, you can open an account at Webull if you live in the United States!
the United States

Visit broker

BrokerChooser score
4.6 4.6 /5
Visit broker

How to get a verified trading account at Webull?

First you need to fill a registration form to apply for an account. Your application needs time to be verified [1 day] after which you can deposit and start trading.

The journey at Webull

Webull account opening step-by-step guide

  1. Go to Webull's website to start the account opening process.
  2. Follow the account opening process: it is self-evident, but you might need help at some point. Don't worry, we cover the main issues here.

Which Webull account to choose?

If you want to explore the possibilities offered by this broker, you will need to choose an account type, and for that, you should consider how experienced you are in trading and investing.

We have more details about the available account types in our review for you to explore.

Visit broker

Which base currency to choose?

Webull has 1 base currency available, which is USD.

You might have to pay a conversion fee if:

  • You trade with assets not in USD
  • You make a deposit in a different currency other than USD

Once you have filled the form, uploaded your documents, chose your account type, base currency and finished the trading survey, Webull will verify your account very shortly.

Why do I need to fill the trading experience survey?

It might seem scary at first, but it is nothing to worry about. This is standard procedure, as brokers need to make sure that you have a basic financial knowledge and you are aware of the risks of trading.

Also don't worry if the broker asks questions about your financial background e.g. your available assets, salary range. This is also part of the risk assesment process - to make sure you don't take on investments and trades you can't afford.

How to deposit and start trading at Webull?

To do your first trade, you have to fund your account. Generally, brokers offer a Bank transfer / ACH / Credit or debit card / E-wallet transfer solution.

This is where you stand at the account opening at Webull

Is there a minimum deposit at Webull?

Luckily, no. You can deposit to Webull, without having to do a large commitment.

Also, if you feel like this service is not your cup of tea: no worries. You can opt out and withdraw your funds anytime.

If you received your verification email, you are good to go to fund your account and start investing!

Here's how to start after funding your account:

  • First, check the products on the platform. You can also search for assets using its search tool,
  • Here, you'll see a list of assets by certain categories, like asset classes,
  • Click/tap on an asset to see its chart,
  • After this step, it is easy to specify the transaction size, order types, and terms.

Visit broker

Is Webull safe?

Yes, Webull can be considered a legit broker, as it is regulated by at least one top-tier regulator, which is a great sign for reliability.

For you, this means that your money is in good hands and you will most probably not become a victim of a scam by Webull.

Throughout the account opening process at Webull, you won't be required to pay anything to create your account. Also, you can close your account anytime you like.

Every time you are planning to dive into finances, make sure you know who you trust your money with. Make sure that the broker is considered trustworthy. We, at BrokerChooser, only recommend regulated brokers on our site, meaning the broker's operations are overseen by a trusted body.

Visit broker

Wrap-up

You are awesome for having read through this article! Opening an account might seem cumbersome at first, but the best time to start dealing with your finances is always right now.

We want to help you along the way, so if you are stuck somewhere, have a question, or a suggestion, please drop a message on our Forum..

BrokerChooser score
4.6 4.6 /5
Visit broker

FAQ

Do I need SSN for Webull?

No, not necessarily. If you don't have a Social Security Number (SSN), you can also open an account with a valid ITIN (Individual Taxpayer Identification Number).

Is my money safe in Webull?

Yes, users are protected up to a certain amount. Depending on your country of residence, you will be onboarded to an investor protection scheme, which protects your securities and/or cash at Webull.

  • Residents from the US will be under SIPC protection, covering $500,000, which includes a $250,000 limit for cash.
  • Residents in Hong Kong will be protected up to HKD 500,000 for securities, however, there is no protection for cash.

Is Webull better than Robinhood?

Webull and Robinhood have lots of similarities in terms of services and fees, but Webull is a bit more sophisticated: it has a desktop platform apart from a mobile and web platform, and is also good for IPOs, while trading cryptos is cheaper at Robinhood. 

Honestly, it comes down to personal preferences at this point.

Does Webull affect credit score?

No, as far as we are concerned, your activity on Webull won't affect your credit score

How much does it cost to open a Webull account?

Nothing. Opening and using a Webull account is free of charge. There are also no inactivity or account fees.

Check out this short video for a behind-the-scenes peek into how our experts personally test and evaluate brokers.

Got questions?
Engage with our growing community of traders and investors like you to find your answers.
Join now

Author of this article

Adam Nasli

Financial Wizard | 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.

Follow us

Regional settings

×
I'd like to trade with...