Webull investing review: Commission-free investments, margin accounts, and cryptocurrencies for active traders

  • Webull is an online brokerage offering commission-free stocks, ETFs, and options.
  • The investment app also provides cryptocurrency trading, margin accounts, and IRAs.
  • Webull is best for active traders and DIY investors who want to trade at low costs.
  • Click here to set up an account with Webull.

Is Webull right for you?

Webull is best for active traders looking for commission-free trades on stocks, ETFs, and options. Though you may have to pay small fees (usually less than $0.01) for each trade, you won’t need to meet a minimum account size requirement to get started.

In addition, the brokerage offers cryptocurrency trading, margin accounts, American Depositary Receipts (ADRs), Nasdaq market data and research, and full extended hours trading. The stock market is open from 9:30 a.m. to 4 p.m. Eastern Time. With extended hours trading, you can also place trades from 4 a.m. to 9:30 a.m. or 4 p.m. to 8 p.m.

Though this investment app offers multiple perks, it may not be the best option if you’re looking for joint brokerage accounts, education savings accounts, or mutual funds. In addition, Webull doesn’t offer any automated investing accounts, so you may need to consider other platforms if hands-off investing sounds more like your thing.

Bottom line: Webull is best for active investors in search of commission-free investments, expert market data, and cryptocurrency trading. The app could also be a good fit for beginning active investors and options traders due to its easy-to-navigate platforms.

Webull
Editor’s rating4.1 out of 5
Trading fees0%
Account minimum$0 ($2,000 for margin accounts)
PromotionFund account with at least $100 and get two free stocks.
Open account

Webull pros and cons

Pros

  • No minimum deposit
  • Commission-free trading on US-listed stocks, ETFs, and options
  • Cryptocurrencies and margin accounts available
  • Free real-time investment quotes

Cons

  • No joint brokerage accounts, education savings accounts, or automated investing options
  • No mutual funds
  • Limited educational resources

How does Webull compare?

Webull
Interactive Brokers
Robinhood

Min. Investment

$0 ($2,000 for margin trading)

Min. Investment

$0 ($100 to $50,000 for automated advice)

Min. Investment

$0 ($2,000 for margin trading)

Fees

0% ($0 for options contracts)

Fees

$0 for IBKR Lite ($0.65 for option contracts); $0.0005 – $0.0035 per share (IBKR Pro); 0.08% to 1.5% for automated advice

Fees

0% ($0.65 for option contracts)

Open accountOpen accountOpen account

Ways to invest with Webull

Brokerage accounts

Webull primarily offers individual brokerage accounts. Accounts have no minimum account requirements, nor do they charge commissions on US-listed stocks, ETFs, or options. However, some of Webull’s regulatory agencies and clearing firms still apply small fees on each trade.

For instance, the US Securities and Exchange Commission (SEC), Financial Industry Regulatory Authority (FINRA), and the Options Clearing Corp. (OCC) all charge less than $0.05 for certain stock, ETF, and option transactions.

Webull also offers margin accounts and cryptocurrency trading.

Its margin accounts give you extra buying power by allowing you to use any securities you own or unsettled funds to buy additional securities. You’ll need a minimum of $2,000 to set up the account.

Retirement accounts

Webull supports traditional IRAs, Roth IRAs, and rollover IRAs. So in other words, you can set up an individual retirement account and contribute with pre-tax or post-tax contributions. In addition, you can rollover your employer-sponsored retirement plan if you choose.

Webull’s IRA accounts only allow stock and ETF trading.

Is Webull trustworthy?

Webull has received an F rating with the Better Business Bureau. The BBB uses a grade range of A+ to F when rating companies, so this score indicates that Webull isn’t excelling in its customer interactions. The BBB also says on its website that its ratings don’t guarantee whether a company will be reliable or perform well; its ratings mainly take customer complaints into account. It’s best to do your due diligence before making a final decision.

According to its website, the BBB has given Webull an F due to its concerns with the company’s business practices. The bureau also attributes this rating to the fact that Webull has failed to respond to and resolve customer complaints.

Webull (along with Robinhood, TD Ameritrade, and other brokerages) temporarily restricted trading on Gamestop (GME), AMC Entertainment (AMC), and multiple other stocks whose prices skyrocketed due to a Reddit-related short squeeze. This elicited a lot of user backlash, but the investment app eventually resumed trading of the stocks.

BBB data shows that Webull has closed 64 complaints in the last 12 months. 

What is Webull?

Webull is an online discount brokerage offering commission-free trading, retirement investing, cryptocurrency trading, and margin trading. The company also prides itself on offering several other key features, including free real-time market quotes, full extended hours trading, and 24/7 online customer support.

Webull is also registered with the SEC, and the brokerage is a member of FINRA, the Securities Investor Protection Corporation (SIPC), the New York Stock Exchange (NYSE), and NASDAQ.

The investment app has also earned multiple awards. In 2020, Webull was named one of the best brokerages for beginners in the Benzinga Fintech Awards. 

The company was founded in 2017 and is headquartered in New York.

Rickie Houston is a wealth-building reporter at Personal Finance Insider who covers investing, brokerage, and wealth-building products.

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