Webull Review 2019

Recently I fell in love with this new investment app. So, I decided to write a review about Webull.

But wait, what distinguishes this Webull App Review form other Webull Reviews?

I will provide you with hands-on information on how to use Webull app.

Also, I reveal how to get your Webull free stock worth up to $1,000. Finally, I talk about day trading, swing trading, and investing with Webull.

Is it worth it or not? Find out and continue reading the Webull Review.

Transparency: When you buy certain products from some of the sites which we link to, we may earn a small share of the revenue.

 Webull Review | Trading App

Webull Free Stock

Let’s start with this little Webull hack on how to get your free stock with just a few mouse clicks.

Your free Webull stock will have a value $8 up to $1,000. This is a return on investment of at least 8% up to 1,000% relative to the minimum deposit of $100.

In my opinion, it is worth it. And even if you still hesitate, then I have great news for you.

The Webull app is entirely free of charge. You can test it intensively before you transfer the $100 to your account.

In the first step I recommend you to register for free here: Free Webull Stock

​If you sign up by using our link, you will get your free Webull stock.

There are no strings attached. Once you registered, you can test the app as long as you want.

Please note that the $100 deposit should be the first deposit to claim the free stock.

Continue reading the Webull review to find out more about the suitability for investors and traders, the company behind the Webull app and the account opening process.

Finally, I will also provide you with an easy to understand hands-on guide on how to trade with Webull.

About Webull Financial

In fact, Webull offers one of the best investment apps available today.

The following Webull review goes through Webull's pros and cons.

Find out why Webull is regarded as one of the best investment apps that you can use to kick-off your investing activity. I mixed it up a bit to provide you with:

  • In-depth information about the Webull investment app features
  • A fee structure overview
  • Various comparisons to their competitors: Webull vs. Robinhood
  • A detailed evaluation of benefits for investors and traders
  • A beginner friendly starter guide

Webull Trading and Investing

Tradeable Instruments

Webull’s users can take advantage of commission-free investing for more than 5,000 US-listed stocks, ETFs, and other instruments.

The app provides investors with trading services covering market data from more than 100 exchanges and 90 countries.

Stocks, bonds, commodities, FX, derivatives, cryptocurrencies – everything can be found there.

How to Use the Webull Mobile App?

The Webull app is available for iOS via App Store and Android via Google Play.

Sign up for free here and then install the Webull App on your mobile or tablet.

I tested it with my iPhone and iPad and it works like a charm.

The sign-up process is easy to understand and also the installation process was simple.

How to Use Webull for Desktop?

You can download your Webull trading application from Webull’s website. There are three different clients available:

  • Webull desktop version 64bit for Windows
  • Webull for windows PC 32 bit for Windows
  • Webull for Mac OS

Once downloaded, you can install the app on your computer. Right now, Webull’s focuses on mobile app development.

I found that using Webull with my iPad provided the best user experience.

However, it works great on other mobile devices too and the desktop app is good too.

How to Use the Webull Web App?

The Webull login via Webull web app can only be used with the Google Chrome browser. Other browsers are currently not supported.

Suitability for Investors and Traders

Interesting wise Webull is not only a legit consideration for investors but also for traders.

In March 2019 Webull released the newest version 5.0.

The trading and investment app is used by over 9 million users worldwide. And the coolest thing is that they have a free paper trading account included.

But let’s have a closer look at the suitability for the different investment and trading categories.

Investing with Webull

Investing with Webull is as simple as it could be. You can choose between more than 5,000 U.S.-listed stocks.

While you can sell any stock that’s in your Webull account, there are some limitations regarding the buying process.

  • You cannot buy shares with a price lower than 1 cent per share
  • If you want to buy stocks with a pricing range between 1 cent and 9.9 cents, then you have to buy at least 1,000 shares at the same time
  • If you want to buy shares with a pricing range between 10 cents and 99.9 cents, then you have to buy at least 100 shares.
  • Stocks with a price from 1 dollar and above can be traded with a minimum share size of only 1.

At first, it might sound like a disadvantage. But it’s not - this rule protects you from investing in too low priced stocks. I will go more in detail in the penny stock section below.

Also, you should notice, that the settlement date for all trading transactions is two business days (T+2).

So if you like to withdraw funds from your Webull account, then it might take up to three business days until the funds are available for withdraws.

Swing Trading with Webull

You can swing trade with Webull at any time since you can hold stocks overnight.

With a net account value lower than $2,000, you are limited to swing trade stocks and ETF’s on the long side only.

However, if you have a net account higher than $2,000, then you can short sell stocks too.

Buy and Sell Orders with Webull App

Also, please note that the standard market data feed only streams the last traded price in real-time.

If you are used to be to see the best bid and offer in your brokerage account, then you can add best bid and offer real-time data too for less than $3/month.

More on this in the fee structure part of this Webull review.

Now let’s see if this investment app is also great for day traders.

Webull Day Trading

Day trading with Webull is possible. However, the same capabilities apply as with any other broker registered in the United States.

First of all, you need at least $25,000 in your account to day trade as active as you like. Otherwise, the pattern day trader rules come into play and prevent you from actively day trading.

If you make a maximum of 3 day trades within 5 business days, then day trading is possible with less than $25,000 in your account too.

For example, let’s say you opened your account with Webull and your deposit was $100 to qualify for the Webull free stocks (At the top of this article I revealed the answer to the question “How do I claim free stock on Webull.”).

So now you have $100 cash in your account plus a free Webull stock worth between $10 and $1,000.

Without a margin account, you can now trade only stocks with a value of up to $100. Your cash amount is equal to your buying power.

At Webull, you can also open a margin account and you can sell stocks short too.

With a margin account you can trade on leverage.

If you like to short stocks using the leverage then the minimum deposit is $2,000.

Once you have a net value of at least $2,000 in your margin account, then you can trade long and short on margin with four times the buying power.

So if you have $2,000 in your margin account, then you can trade stocks and ETFs (long and short) with a buying power of up to $8,000 ($2,000 times 4).

Please note that the leverage works in both ways. You make four times more money and can also lose your money four times faster.

Penny Stock Trading with Webull

Yes, penny stock trading is possible with Webull. There are only some limitations regarding the price per share to buy a penny stock.

Here are the details:

Webull | Penny Stock Trading

Webull Trading Hours

Pre-Market Hours Trading with Webull

During the pre-market from 4 AM – 9:30 AM EST you can place limit orders to buy or sell stocks before the regular market hours begin.

Please consider, that limit orders protect you from unexpected losses and bad fills during low liquid trading times.

The limit order is in place to protect you. Once the market opens, you can change the order to a market order too.

After Hours Trading with Webull

Also after hours trading is possible. The regular trading hours usually end at 4PM EST. With Webull you can trade 4 hours longer from 4 PM EST to 8 PM EST.

Short Selling on Margin

You need to open an account with at least $2,000 and maintain a net value of at least $2,000 to short stocks on margin.

Trading on margin enables you to buy and sell stocks and ETFs with a leverage of four.

If you have a net value of $2,000 in your account, then you can trade stocks and ETFs with a value of up to $8,000 ($2,000 * 4) intraday.

If you want to maintain a position overnight, then a leverage of 2 is available.

Consider this, especially if you have an open position worth more than two times your account net value.

I strongly encourage you to avoid trading on margin because there is high risk involved when trading with leverage.

Please note, trading with Webull is commission free, but it costs money to maintain a position held on margin.

The following fees apply:

Webull Margin Rates

The alternative to a margin account is a cash account.

With a cash account, you can trade stocks and ETFs worth up to the liquid net amount within your account.

Tip: You can check the current margin and leverage values before you trade by using the Webull stock screener. Go to “markets,” select “United States” and chose “marginable” to see the list.

Check Margin with your Webull App

Webull Short Selling

How to short on Webull? The answer to this question is simple.

You need to have an active margin account with a net value of at least $2,000. Plus, the stock you like to short has to be shortable.

Use your mobile Webull app to have a look at the availability and the potential leverage for trading.

Sometimes shares are hard to borrow, or other short sale restrictions apply.

In that case, you cannot short stocks via Webull. Consider, those limitations are true for most brokers and not limited to Webull.

Webull Options Trading

Currently, options trading is not supported. However, Webull plans to add options trading in one of the upcoming released. I will keep you posted on further developments.

Commissions and Fees

0 commissions, no trading platform fees and no minimum deposit requirement.

  1. Similar to Robinhood, Webull offers free-of-charge investing services.

Apart from the no-commission trading, another benefit is the fact that investors can open a regular trading account without any deposit minimum.

Webull also does not charge any maintenance or management fees.

SEC and FINRA Fees

SEC and FINRA fees are applied as follows:

  • ​SEC Trading Activity Fee: $0.0000207*amount traded (1 cent minimum per trade; sells only);
  • ​FINRA Trading Activity Fee: $0.000119*shares traded (1 cent minimum per trade; sells only).

We are usually talking about cents here per transaction. Those fees apply because the SEC and FINRA charge this fee. Webull doesn't make money charging those fees.

Here is an example. Let’s say you trade 100 stocks with a price of $10 each. Your total trade volume is $1,000.

  • SEC Trading Fee: $1,000 * 0.0000207=$0.0207
  • FINRA Trading Fee: 100 shares * 0.000119 = $0.0119

In other words, in this example, you pay about 3 cents for the whole transaction.

And any other brokerage would also have to charge you this money too if you trade in the United States.

Margin Trading Fees

Yet, for margin trading accounts, the minimum balance is set at $2 000.

With a margin account, you can trade with a leverage of up to 4 times the net value in your account.

Margin investors should be aware that the app has an additional commission fee structure for trading on leverage.

Wire Transfer Fees

Funds transfers via Automated Clearing House (ACH) are free of charge.

Domestic wires cost money:

  • Deposits via domestic wire: $8 (national transfers)
  • Withdrawal via domestic wire: $25 (national transfers)

Webull fees policy states that international wire transfers are subjects to a fee of $12.5 for deposits and $45-per withdrawal transaction respectively.

Market Data

I will go in detail about the market data options later in this Webull review. Here is the market data fee at a glance:

  • Market data based on last price real time: free
  • Market data Nasdaq Basic Level 1 real-time with best Bid and Offer (BBO): $2.99/month or $33.99/year (7-day free trial available).
  • Market data with best bid and offer from 13 exchanges and times and sales: $10.49/month
Webull Market Data

Most Other Brokers Have Those Additional Fees Too

I agree Webull Fees of 0 is not entirely 0.

But let’s be honest.

Most other brokerages also charge for international wires and trading on margin.

Some charge even higher rates for market data and trading on margin.

For that reason, the commissions' table should be compared to get the right picture.

And 0 commissions means 0 commissions for trading and investing with Webull.

I have to commit that the Webull review already got longer than expected and we are getting closer to the summary.

After having covered the Webull fees, Webull trading and investment options there are now some exciting Webull features I like to talk about.

Webull Features

Free Paper Trading Module

Last, but not least - when we are talking about Webull’s platform, we cannot miss one of the most outstanding features.

The trading simulator or in other words, the Webull paper trading feature.

Webull Paper Trading Account Feature

The best education is, indeed, practically-oriented education.

Sharing the same idea, Webull has built a paper trading feature that allows its users to “taste the waters” with real-time data trading stocks and options without risk.

Currently, the paper trading module is a spate one. You can open it by choosing “menu” and then “paper trading.”

Click on “Trade” to choose the stock or ETF you like to trade.

Once selected, you can paper trade with a click at the bar at the very bottom of a chart.

The paper trading simulator allows traders to use limit orders and market orders. Complex order types are not available yet in the paper trading.

Also, you can select “good till canceled (GTC)” or “daily” for order durations.

Finally, you can also trade outside the regular trading hours using the Webull paper trading module.

For a free investment app, this paper trading functionality is a big plus.

Mainly because you can use the free market data feed.

It would be another significant improvement if the paper trading functionality could be integrated into the main screen. However, having it separated has also advantages.

I strongly encourage you to paper trade first until you see that you trade profitably over a longer period.

There is just no need to hurry.

Just fund your Webull account with $100, grab your free Webull stock and enjoy risk-free trading with their paper trading app until you are profitable over the longer term. Once you learned to trade, it is much easier to make money.

​If you sign up by using our link, you will get your free Webull stock.

Webull Watchlist aka. Simulated Holding

Webull has also implemented a watchlist feature. It can be found right on the main screen within the Webull app at the very bottom left.

The watchlist feature is a good one. You can monitor your favorite stocks and ETFs from one page and with one click to can go into details for each underlying (Underlying = stock or ETF).

Users can set-up multiple individually-tailored watch lists.

There are also smart alerts through SMS or e-mail that notify you each time when a target instrument on your watch list trigger some of the conditions (price or indicators) that you have configured initially.

In-Depth Charts

The charting feature is a good one. I would not try it with a little 5-inch smartphone, but on my iPad and larger screens, the charting feature works great.

You can switch between various time frames like:

Intraday Time Frames (click on the intraday time frame to toggle between all available time frames):

  • 1 Minute
  • 5 Minute
  • 15 Minute
  • 30 Minute
  • 1 Hour
  • 2 Hours
  • 4 Hours

Long Term Time Frames

  • 1 Day
  • Weekly
  • Monthly
  • Quarterly
  • Yearly

Popular trading indicators are also available.

​Advanced Orders

Advanced order types such as OCO, OTOCO and OTO are now available to build your portfolio with the Webull trading app.

However, the Webull paper trading module does not allow to use those advanced order types.

Market Data

Webull provides free market data for over 100,000 instruments such as stocks, ETFs, Forex, Futures, and Indices.

Popular exchanges like NYSE, NASDAQ, LSE, and SGX are covered with the free market data plan.

All those free market data have in common that they are providing the “last traded price” only.

You can add more detailed market data such as Level 1 data with the best bid and offer (Bid/Ask Level-1).

Currently, the following data packages are available for subscription:

​Webul Market Data:

  • Nasdaq Basic 2.99/month or 33.99/ year
  • National Best Bid and Offer 10.49/month
  • Taiwan Stock Exchange 2.99/month or 30.99/year
  • German Stock Exchange (Deutsche Börse) 8.99/month or 98.99/year
  • London Stock Exchange 14.49/month or 154.99/year
  • Toronto Stock Exchange 25.49/month or 269.99/year
  • ​Hong Kong Stock Exchange ​​64.99/month or 699.99/year.
Webull Advanced Quotes | Overview

As you can see, the market data costs can sum up. Please note, any broker charges market data feeds when the data feed comes from a stock exchange in real-time market data on Level-1.

Those fees are not being paid to Webull helping them making money! Those fees arise because the stock exchanges charge them.

The good thing is that real-time market data is available for free for most tradable instruments at Webull.

The free real-time market data contains the “last price” only.

So if you need more detailed pricing information, then you have to subscribe to Level 1 or Level 2 for the exchanges of your choice.

Please also note that you cannot trade any instrument listed within the Webull app.

For examples, you can streamline the prices for forex and futures, but you cannot trade forex and futures right now with Webull.

Financial Calendar and Analyst Ratings

Here is another cool Webull app feature rolled out by Webull 5.0. Analyst ratings and the financial calendar are now available within the Webull app.

At a glance, you see the current ratings (strong buy, buy, hold, underperform, and sell) in a graph.

Also, all information about dividends, splits, insider activity, and also press releases are part of the new feature.

Just select your favorite stock and enjoy tons of free high valuable information. And guys, there is even more.

You can also check the current key indicators like ROE, EPS, Net Margin, CRS, Earnings forecasts, and much more.

I could write more than 2,000 more words just for these features right within this Webull review.

But I think that would make a bit too much since we are not getting closer to 5,000 words.

There are two more features I like to mention.

  1. The Webull IPO center, where you find current IPOs in a useful list is one of the features.
  2. And the second one is the financial calendar.

Free Stock Screener

The Webull app also stands out when it comes to its stock screening functionalities.

The platform offers rich research tools that help you find fresh investment ideas.

For example, the stock screen​ers are equipped with rich features and ready-made options to choose from, such as “Biggest movers in the last 5 minutes”.

Apart from that, the stock screener can be customized according to the investor’s preferences.

The process is easy as each feature is designed in such an intuitive way, that it is almost self-explanatory.

That way, investors can employ the power of fundamental and technical analysis easily and in a matter of minutes.

The stock screening feature allows users to track the markets based on your filter criteria.

There are lists of best- and worst-performing stocks, star stocks and, as mentioned, even a calendar with the dates of upcoming IPOs and Earnings for US-listed instruments.

See Also: Best Stock Screener

Webull for Fundamental Analysis

If you rely heavily on fundamental analysis, then Webull is one of the best free in-app solutions that you can find.

It provides news streams, professional recommendations, historical data, press releases, statistics, insider holdings and much more.

Webull for Technical Analysis

If you are more of a technical analyst, then you can take advantage of real-time candlesticks and line charts that can get back in time 5 years.

Also, time frames can be adjusted.

There are plenty of price and momentum indicators, such as

  • Bollinger Bands,
  • MACD,
  • RSI oscillators,
  • exponential moving averages
  • and many more.
Webull App Indicators

One of the Best Trading Apps for Free Research

One of the main reasons why Webull’s research center is referred to as one of the best in the sector is the fact that it provides free research/tracking for:

  • Stocks,
  • Forex
  • ETFs,
  • Indices,
  • Futures,
  • Cryptocurrencies,
  • and Options.

With the real-time quotes, the app gives you everything you need to invest wisely, no matter whether you are a beginning or an advanced investor.

This makes it the most complete free research center that you can have on your mobile device.

Webull vs. Ronbinhood

Is Webull the best Robinhood alternative? In my opinion, yes, it is.

While Robinhood is still the market leader, commission-free investing is no longer limited to one company.

Actually, there are already a few companies offering such commission-free investing opportunities, and there are more to come in the future.

For me, Webull is currently the best Robinhood alternative. Let’s compare Webull vs Robinhood:

​Feature

Webull

​Robinhood

​Commission Free Investing

​Yes

​Yes

​Research Tools

​Yes

​Yes

​Member of SIPC

​Yes

​Yes

​Trading Simulator

​Yes

​No

​Tradable Assets

​Stocks, ETFs (Options planned)

​Stocks, ETFs, Options, Cryptocurrencies

​Margin Trading Fee

​No

​Yes (with Robinhood gold, fees up to $200/month)

​Short Selling

​Yes

​No

​After Hours Trading

​Yes (free)

​Yes (with Robinhood gold, fees up to $200/month)

​Free Stock for new accounts

​Yes (click here)

​No, only if you refer a friend

There are many benefits opening an account with Webull.

The free Webull stock makes the overall package exponentially attractive because the free stock can have a value of up to $1,000.

Click here to claim your free Webull stock now.

Is Webull Legit?

Webull is legit and an SEC-registered member of FINRA and SIPC. Check the background of Webull Financial LLC on FINRA's BrokerCheck.

Is Webull Safe?

Your money is in good hands. As a member of SIPC (Securities Investor Protection Corporation) your money is up to$500,000 (incl. $250,000 for claims for cash).

Also, Webulls clearing firm (Apex Clearing Corp) has purchased an additional insurance policy with up to $37.5 million per customers securities and $900,000 for customers cash positions.

Besides the monetary security, Webull also has a Business Continuity Plan which can be found here:

Webull Business Continuity Plan

Webull Customer Service

  • Webull customer service number: No phone, only via the app
  • Webull customer service email: customerservice@webull-us.com
  • Address:44 Wall Street, New York City
  • Service hours: 24/7 with the around-the-clock live help team

Users can get in touch with customer support representatives through chat, e-mail and via help-guide. There is no official Webull customer service number.

How to Open an Account with Webull

Once you signed up for free here, you can install the Webull app on your mobile device or desktop to finally open your account.

And don’t forget to claim your free Webull stock! If you haven’t yet, click here to register for free.

There are just a few requirements to open a Webull account.

First of all, you must be at least 18 years old. Also, you need a valid social security number.

That’s it. Once you registered for free here, you can open either an individual cash account or individual margin trading account.

That’s it. There is no need to transfer any money to Webull. However, to claim your free stock worth up to $1,000 you need to deposit at least $100.

Open Your Account in 5 Easy Steps

  1. Click here to register for free.
  2. Once registered, download the Webull App.
  3. Select the "Trade" tab to start opening the account.
  4. Choose the account type.
  5. Fill out the information needed and accept the Terms and Conditions.

That’s it. You open your account with Webull in under 5 minutes. Now it takes about 60 minutes to approve your account.

Most of the times it is faster, and then you receive an email once your account was approved. Webull will let you know if any additional information is needed.

To get your free stock worth up to $1,000 you have to deposit at least $100.

​If you sign up by using our link, you will get your free Webull stock​.

If you just like to test the app first, then you can register here for free.

Anyway, if you like to get your free stock as fast as possible, then the national wire via ACH (Automated Clearing House for residents within the United States) is the fastest solution.

Webull Review Summary

​Rating

​Overall 4.5

Commissions & Fees

​5.0

Traded Instruments

​4.0

Trading Platforms & Tools

4.5

​Education & Research

4.5

​Customer Service

​4.0

You finally made it to the Webull review summary. I enjoyed writing this review since there were so many cool features to explore.

Webull is keeping up with the wave of Fintech innovation in the industry.

IMO, Robinhood has its first real competitor now.

The Webull app has great functionalities, the fee structure is , and the Webull free stock program is attractive too.

An Exciting Investment App

The truth is that the Webull app offers a fascinating platform, full of features and tools for research and analysis, all for free.

Combined with the fact that trading is free of charge, and you have the most complete investment app that you can find.

The great thing about Webull is that the app is great for beginners and also experienced investors.

The fact that they offer something for both groups makes the platform a full-cycle solution.

We have to be realistic too. As lined out before, there are some fees which can apply using Webull. Also, the market data is not the perfect solution for day traders.

But this is fine since Webull’s main customer group are investors.

One functionality is definitely worth to give it a try for day traders anyway:

The Free Paper Trading Module

You can take advantage of the paper trading feature when you are making your first steps in the investing world and continue using the app and its advanced features when you get more confident and need complex research tools.

And the best thing is that you get all of that for free.

The investment platform has a mobile and a desktop version which turn out to be one of the most complete on the market.

Webull’s free investment app really beats its competition in terms of functionalities and flexibility.

Also, the app covers all types of fundamental and technical analysis tools that ease investors and provides everything needed for them to make a well-informed investment decision.

​If you sign up by using our link, you will get your free Webull stock and free access to the paper trading module.

Low Minimum and High Leverage

Just like RobinHood, Webull’s platform also offers a free stock if you deposit at least $100 in your account. Another feature that makes the Webull app stand out from the rest is the 4x intra-day margin trading and the 2x overnight margin trading.

Although this is something that often lacks in other investment apps, it should be taken with a grain of salt, due to the high risk, associated with margin trading.

Webull’s rule on automatically-forced liquidation margin calls when the account balance falls below $2,000.

This basically means that, if the account balance drops, below the above-mentioned sum, then the shares will be automatically sold to maintain the limit.

Final Verdict

In my opinion, Webull is an excellent choice for investors and swing traders. Also, day trading beginners will love the Webull app because of their free paper trading account.

With Webull, you can practice day trading from everywhere around the globe. But let’s stay realistic here. Webull is not suitable for high-speed day trading, scalping, or even high-frequency trading.

I like to encourage you to read my article “​Day Trading for Beginners” if you are interested in becoming a day trader.

As I said, Webull is a great app.

Investors will enjoy features like free research and free market data.

Swing traders will like the platform too because it is not that important to have milliseconds of faster trade executions to become and stay profitable.

And finally, day traders can practice day trading with the Webull paper trading app.

No matter what type of investor you are – It is definitely worth it to register for free.

Also, nothing speaks against a deposit of $100 to get your free stock worth up to $1,000.

Sounds like a good plan, right?

Once you funded your account with $100 and received your free Webull stock, I recommend you to practice trading using the paper trading functionality first.

​If you sign up by using our link, you will get your free Webull stock and free access to the paper trading module.

No matter what type of investor you are. Take care, trade, and invest save and wisely. The markets are here now and they will in the future.

Gain confidence and start investing with real money only once you have a profitable track record in your paper trading account.

​Webull Pros and Cons

Pros

  • Commission-free trading
  • Free stock for any new client (worth up to $1,000)
  • Fully-functional mobile app and desktop platform
  • Excellent research center
  • Professional customer support
  • No account minimum
  • Margin Trading with leverage of up to 4:1

​Cons

  • Generally - professional day trading is not possible with mobile apps
  • International outgoing wires are kind of expensive relative to the minimum deposit
  • Options trading is not offered right now (​planned for 2019)

​Webull Q&A

How Do I Claim Free Stock on Webull?

To claim the free Webull stock is as easy as 1-2-3. Click here to register for free, then install the trading app and fund your account with at least one hundred dollars. That’s it.

Can You Trade Options on Webull?

Options trading is currently not available but a planned feature.

How Many Day Trades Do You Get on Webull?

You can make 3 day trades (buying and selling on the same business day) within a period of 5 business days. If you trade more than 3 times within this period, then you will be considered as a pattern day trader. A pattern day trader needs at least $25,000 in his account to continue day trading.

How Does Webull Make Money?

If you buy and sell stocks based on margin, then fees apply to maintain the position. Also, Webull gets paid from the exchanges for providing liquidity. You can also subscribe to some premium data feeds Webull might make money with.

Is Webull Really Free?

There are no commissions charged. Also, opening and maintaining the account is free of charge. Please note that fees apply if you trade on margin. Also, like with any other brokerage, FINRA and SEC fees may apply.

​What are the Webull Alternatives?

​Robinhood is the best alternative to Webull. However, there are some more investment apps available:

​The ​Best Investment Apps

​Reviews at daytradingz.com

Robinhood

​Stash Invest

​Stockpile

​​Acorns​

Updated: July 18, 2019