Webull is a commission-free stock and ETF trading platform that was launched in 2017. Today, it has nearly 10 million users across the U.S. and around the globe.
It quickly became known for its extensive menu of offerings, ranging from technical indicators to simulated trading to a wide variety of advice from analysts.
Because of this deep wealth of resources, Webull caters to more seasoned traders who are actively involved in the market. It is not intended for passive, longer-term investors who may not have the need for real-time updates and financial calendars.
In fact, it can be overwhelming for complete beginners to take in all the info Webull offers.
However, the app itself has a well-organized design and it is easy enough to navigate. Webull is mobile-web based and desktop accessible.
In this article, we will be covering some of the ins and outs of Webull, explaining exactly how this app works!
Right now, you can take advantage of a free stock offer. Use the link below to get a free stock worth up to $1,600!
Your very first step with Webull is getting your information verified and opening a trading account.
When you sign up, you decide if you want a cash, retirement or a margin account. Webull does not charge you any money for opening and maintaining a trading account. There is also not a minimum balance you are required to hold in your cash account.
Again, this is a 100 percent free trading platform. They do not charge any hidden fees and there are no strings attached. However, there is a minimum balance if you want to open a margin account. That minimum is $2,000.
Margin accounts are a type of brokerage account that lets investors buy securities with borrowed funds, requiring a deposit of cash or assets as collateral to cover the risk on these transactions. You will also pay interest on margins.
Webull has an annual margin interest rate between 3.99% and 6.99% depending on the total amount that you borrow.
Keep in mind that margin accounts can be very risky, and they are probably a good position for new investors. Before opening a margin account, you need to remember that you may have to deposit additional cash or securities in your account on short notice to cover market losses.
For most people, a taxable or retirement account will be a good fit. This depends on whether or not you are investing for the short term or long term.
After you open your account, we would recommend taking the app for a test drive using the free paper trading simulator.
The term paper trading comes from the stock exchange, where investors would write down their choices on paper and then see how well their stocks and ETFs fare day-to-day. Webull’s paper trading is simulated.
This means you are just practicing buying and selling stocks and ETFs and building a diversified portfolio without worrying about losing money. You chart progress and market fluctuations up and down and tally up your results at the end.
Webull is one of a small handful of platforms that offers simulated trading to let you test out trading strategies and become more familiar with the platform risk free.
The trading simulator gives you $1 million of fake currency to work with, as well as a demo on how to get started.
This is an excellent first step to using Webull!
Once you are comfortable with the app after using the trading simulator, your next step should be to create some stock watchlists or set some alerts.
These allow you to track stocks that you want to keep an eye on. You can also set price alerts that will allow you to get notifications from Webull when the price reaches a certain level. For example, if you were looking to buy a stock or ETF for under $100, you could set a price alert for when it reaches that level and receive a notification from Webull.
Now that you have your account opened and you are familiar with the trading simulator, here are some other great Webull features you should be aware of!
Most free trading platforms do not offer extended hours trading. Instead, you can only place trades during market hours which are 9:30 a.m. to 4:00 p.m. EST from Monday to Friday. Those that do offer extended trading hours frequently charge a fee for this service.
Webull offers free extended hours trading to all users. You can place trades during pre-market (4:00am to 9:30am EST) or after-market (4:00pm to 8:00pm EST) by placing a limit order.
Webull is most well-known for the data they supply for traders. You can study real time market data for all U.S. markets free of charge. This is good information to have when you are actively trading, and your goal is to take advantage of very fast changes in the market.
Many other trading platforms are limited to delayed data reporting. Delayed reporting of price data could be very costly for an active trader. This is because you could lose out on micro-shifts in prices happening in real-time.
However, if you are looking for real time data for global markets, you will need to pay a monthly subscription starting at $3.99 and up per month.
Keep in mind that you do not need to pay for any subscriptions to access real time data on U.S. markets. If you’re new to Webull, it may be best to start out by studying U.S. markets first.
Webull offers a variety of research tools for both newer and more advanced investors. These include news briefs, press releases, important finance documents and details, earnings reports, earnings dates, dividend dates and more.
Analysts are experienced pros who offer recommendations on buying, selling and holding stocks and ETFs in your portfolio. This can be extremely helpful to you when you look at making buying or selling decisions.
Webull showcases these ratings in an organized way to give you a good snapshot of a particular company right when you need more information.
The ratings include visuals like charts and graphs to help you better understand the value of your stocks. They also offer helpful tools that compare the metrics of one company to another in the same industry.
You will be able to answer questions like:
Another useful feature for Webull users is the financial calendar.
This calendar shows you important upcoming dates for a specified company, such as dividend payments and earnings reports. There are also calendars that show what companies are reporting as far as earnings monthly, and also if there are any Initial Public Offerings (IPOs) on the horizon.
Webull offers you many avenues to become informed about trading and about tracking the stocks in your portfolio.
When you take advantage of them, you will shorten your learning curve and be on the way to becoming a more seasoned investor.