Intro
Webull is a US-based fintech startup established in 2017, which offers zero-fee or discount brokerage services.
Webull is regulated by top-tier financial authorities (such as the SEC and FINRA in the US, or the SFC in Hong Kong) and provides a maximum of $500,000 in investor protection, with a $250,000 limit for cash under the Securities Investor Protection Corporation's (SIPC) protection scheme. These are all great signs for its safety.
| 🗺️ Country of regulation | USA, Hong Kong |
| 💰 Trading fees class | Low |
| 💰 Inactivity fee charged | No |
| 💰 Withdrawal fee amount | $0 |
| 💰 Minimum deposit | $0 |
| 🕖 Time to open an account | 1 day |
| 🎮 Demo account provided | Yes |
| 🛍️ Products offered | Stock, ETF, Options, Crypto |
If you want more in-depth information about Webull, check out our detailed review
Webull provides commission-free US stock, ETF and options trading, which are all assets suitable for beginner investors. Furthermore, Webull has no inactivity, deposit or withdrawal fees. However, the only available base currency is USD, which means that conversion costs on deposits and withdrawals can be high if your funding currency is not USD.
Their account opening process is fast and seamless, while the trading platforms are user-friendly, with many order types available.
If you are unsure what some of these financial terms mean, don't worry, we put together a short glossary at the end of the review for better understanding!
We recommend Webull for beginners, as it charges no commission for stocks, ETFs and options, it has great and easy-to-use trading platforms, and a demo account is also available, which is helpful for beginners.
Webull accepts clients only from a few countries, first and foremost the US.
Can you open an account?
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Webull Review for Beginners
Fees
Webull offers commission-free trading for US-listed stocks, ETFs and options, plus there are no fees for deposits, withdrawals or inactivity. However, the fees are high If you want to use wire transfer for your transactions.
Trading fees occur when you trade. These can be commissions, spreads, financing rates and conversion fees.
Here is an overview of the fees charged by Webull:
| Webull | |
|---|---|
| US stock fees class | Low |
| EURUSD fees class | - |
| Mutual fund fees class | - |
| Inactivity fees class | Low |
| Webull | |
|---|---|
| Withdrawal fee | $0 |
| Deposit fee | $0 |
| Inactivity fee | No |
| Account fee | No |
Webull has low non-trading fees. There are no account or inactivity fees. Furthermore, there is no deposit or withdrawal fee if you use electronic (ACH) transfer. On the other hand, wire transfer options have quite high fees.
If you would like to know more about Webull's fees, check out our detailed article.
Webull Review for Beginners
Deposit & Withdrawal
Webull offers only one base currency, USD.
Depositing money with Webull is user-friendly, but you can only use bank transfer. Webull doesn't charge deposit or withdrawal fees for electronic (ACH) transfers. However, wire transfer fees are high.
| Webull | |
|---|---|
| Bank transfer | Yes |
| Credit/debit card | No |
| Electronic wallets | No |
Webull Review for Beginners
Safety
Webull is regulated by several top-tier authorities, such as the US Securities and Exchange Commission (SEC), the Financial Industry Regulatory Authority (FINRA), and the Hong Kong Securities and Futures Commission (SFC). These regulatory bodies provide a high level of investor protection.
Investor protection means that up to a certain limit, you get your money back if the broker goes into bankruptcy or commits fraud. The investor protection amount defines the limit of protection. This can vary from country to country, and also depends on the regulator that oversees the broker.
On the negative side, Webull is not listed on a stock exchange and does not hold a banking license. These would ensure even more transparency and boost the safety of your investments.
| Country of clients | Protection amount | Regulator | Legal entity |
|---|---|---|---|
| US | SIPC: $500,000 which includes a $250,000 limit for cash | Securities and Exchange Commission (SEC), Financial Industry Regulatory Authority (FINRA) | Webull Financial LLC |
| Hong Kong and China | HKD 500,000 for securities, no protection for cash | Hong Kong Securities and Futures Commission (SFC) | Webull Securities Co., Ltd. |
Webull Review for Beginners
Glossary
Here is a quick glossary to help you with some terms in our review:
Inactivity fee: a fee that is charged when a customer has not done any buying or selling on their brokerage account for a specific amount of time determined by the brokerage.
Deposit fee: this is charged when you send money to your trading account at a broker. The fee may differ depending on the method of transfer (i.e. bank card, bank transfer, e-wallets, etc.).
Withdrawal fee: an amount you need to pay when you withdraw money from your trading account, e.g. to your bank account.
Regulators: these are established by governments or other organizations to oversee the functioning and fairness of financial markets, including markets, exchanges and firms. They also oversee that investors are not fooled by scams, and in case of wrongdoing, they try to provide some level of financial and legal backing.
Investor protection: this means that up to a certain limit, you get your money back if the broker goes into bankruptcy or commits fraud.
Non-trading fees: charges not directly related to trading, such as deposit/withdrawal fees or inactivity fees.
Trading fees: these are charged when you trade; for instance, in the form of a commission, spreads, financing rates, margin rates or a conversion fee.
Webull Review for Beginners
Where to find out more?
If you want to learn more about Webull, go to our detailed review.
Learn how you can open an account at Webull.
See if Webull is good for beginner traders.
Read about Webull’s fees in detail.
Learn more about Webull’s safety features.
You can find out more about investor protection in our dedicated article.
In our article on brokerage fees, you can learn what these fees mean and what they entail.
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