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Webull 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.

Overall rating

Is Webull right for you?

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

Webull is 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.

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

You can use the Webull mobile app on iOS and Android devices.

Not sure if Webull is right for you? Keep reading to see how it stacks up against similar investment apps.

How does Webull compare?

Webull, Interactive Brokers, and Robinhood all offer commission-free trading for investments like stocks and ETFs. However, Webull and Robinhood are better choices for active traders in search of low-cost individual brokerage accounts and margin accounts.

Interactive Brokers, on the other hand, is a more suitable fit for all types of investors. It offers self-directed brokerage accounts, automated investing accounts, IRAs, and other wealth-building products. 

And crypto traders should note that all three platforms offer cryptocurrencies.

Ways to invest with Webull

Brokerage accounts

Webull primarily offers individual cash and margin 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’s 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 get started.

You can also trade multiple cryptocurrencies through the platform. Webull currently supports bitcoin, ethereum, bitcoin cash, litecoin, dogecoin, zcash, stella lumens, ethereum classic, cardano, dash, and shiba inu.

While the cryptocurrency market is always available 24/7, Webull’s extended hours trading feature makes it possible to trade traditional investments like stocks and ETFs from 4 a.m. to 9:30 a.m. or 4 p.m. to 8 p.m (The stock market’s normal hours last from 9:30 a.m. to 4 p.m. Eastern Time).

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.

Earlier in 2021, Webull also (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 more than 130 complaints in the last 12 months. 

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