The last ten years of investing will undoubtedly be some for the record books. Besides a few years of remarkable market returns, the equity markets investors have seen some major innovation.
In fact, investing institutions are referring to the past few years as the years of the retail investor. Retail investor is a very loose piece of terminology but is taken to mean those who are not professional investors or represented by professional investing institutions.
The relatively recent innovation in equity markets investing platforms has opened investing opportunities for the retail investor. Investing platforms like Robinhood take credit for the rise of retail investors by creating a simple, beginner-friendly investment platform.
Another platform to join in the rise of the retail investor is Webull. A lot of people are familiar with Webull's marketing campaign of referring friends to get free stocks. In addition to sweet sign-on bonuses, Webull also helps retail investors invest in their own stocks they like without extreme fees and platform regulation.
To learn more about all of the offerings of Webull, head to our Webull summary article. While this article will cover some of the advantages of using Webull, the main purpose is to cover all of the fees associated with the Webull platform.
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According to the official Webull website, there are five main buckets of fees associated with Webull accounts. Each bucket represents unique and different account offerings. While all buckets offer commission-free trading on stocks and equity options, there are still costs associated with trading that will be explored in detail in this article. The five high-level buckets are listed below.
First, it is important to understand where each of these fees come from. Webull is very clear that all trades on its platform are commission free. However, there are relevant government and regulatory fees (such as SEC and FINRA fees) that can apply to certain transactions.
The SEC stands for Securities and Exchange Commission, an independent government agency responsible for protecting fair trades and maintaining orderly markets.
FINRA is the Financial Industry Regulatory Authority, a non-governmental organization that enforces rules governing brokers and broker-dealer firms in the United States.
While Webull offers commission-free trading, it passes along these regulatory fees to investors, which typically apply to all sell transactions on stocks and ETFs. There are no fees for buying stocks and ETFs on Webull.
Here's how these fees break down for stock and ETF sales:
Webull does not profit from these regulatory fees—they are passed directly to the investor.
Options trading on Webull remains commission-free for equity options contracts, with no contract fees charged on equity options. However, starting in 2025, Webull charges a $0.55 per-contract fee on non-equity options, such as index options. This fee is in addition to various regulatory fees.
Regulatory and clearing fees on options trading include:
| Fee Type | Charged By | Amount | Applies To |
|---|---|---|---|
| Regulatory Transaction Fee (SEC) | SEC | 0.0000278 × total sale amount (min $0.01) | Sell orders only |
| Trading Activity Fee (FINRA) | FINRA | $0.00279 per contract (min $0.01) | Sell orders only |
| Options Regulatory Fee | Options Exchanges | $0.02675 per contract | All buy and sell orders |
| Clearing Fee | Options Clearing Corporation (OCC) | $0.025 per contract | All buy and sell orders |
| CAT Regulatory Fee | Webull | $0.0046 per contract | All buy and sell orders |
These fees vary by contract volume and trade type (buy vs. sell), and the regulatory fees may change periodically. It is advisable to check Webull's official fee page for the most current rates.
Additional notes:
Like any brokerage, borrowing money to trade on margin comes with costs. Webull charges margin interest only on leveraged positions held overnight. This means if you open and close a margin position within the same trading day, no interest fees apply.
If you keep leveraged positions open overnight, margin interest accrues daily and is billed monthly. The daily margin interest formula is:
Borrowed cash × Margin Rate ÷ 360
Below are Webull's 2025 tiered annual margin interest rates (subject to change):
| Debit Balance | Annual Margin Rate |
| $0 - $25,000 | 6.99% |
| $25,000.01 - $100,000 | 6.49% |
| $100,000.01 - $250,000 | 5.99% |
| $250,000.01 - $500,000 | 5.49% |
| $500,000.01 - $1,000,000 | 4.99% |
| $1,000,000.01 - $3,000,000 | 4.49% |
| > $3,000,000 | 3.99% |
To learn more about how margin trading works, check out our free article on Webull margin trading.
Webull offers free Level I market data, which includes basic price quotes and trading volumes. However, for investors seeking more detailed market insights, there is a $1.99 monthly subscription fee for Level II market data.
Level II data provides real-time access to the full order book, showing market depth and liquidity at various price levels, valuable for active traders and day traders looking to make more informed decisions.
To learn more about what is included with Webull Level II data, visit the official Webull website.
There are other less frequent fees on the Webull platform that investors should be aware of. These include fees related to short selling, transfers, index options, and futures trading.
Short selling involves borrowing shares to sell them before buying them back. There is a borrowing fee associated with short selling, which varies by stock and market conditions. This loan rate accrues daily and is calculated as:
Market value of borrowed shares × stock-specific loan rate ÷ 360
Index options carry fees distinct from individual stock options. Webull charges a $0.55 per contract fee on non-equity options (mostly index options), in addition to the standard regulatory fees that apply to all options. These fees vary by the trading exchange and ticker symbol.
Webull charges a $75 fee for outgoing account transfers (ACATS), whether partial or full transfers. This fee is important to consider if you plan to move your account or assets to another broker.
For traders interested in futures, Webull charges fees ranging roughly between $0.25 and $1.50 per futures contract, depending on the product and exchange. Futures trading is available on the platform but typically requires additional approval.
Cryptocurrency trading is available via Webull's separate Webull Pay app. Crypto trading fees and spreads vary; users should refer to Webull Pay for detailed fee structures.
The regulatory fees passed on by Webull can seem complicated at first glance, but they are typically very small amounts that only add a few cents to your trade costs. For example, even on a $10,000 stock sale, the SEC fee might be only a few cents, and the FINRA fee depends on the number of shares sold but usually remains minimal for retail-sized trades.
Therefore, despite these small charges, Webull remains a very low-cost platform for retail investors, especially given it charges no commissions on stock, ETF, or equity options trades.
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Given that Webull is a commission-free trading platform, investors often wonder if there are any other fees they might incur. The answer is yes, but most fees are small regulatory charges passed along by government agencies and market regulators.
Webull has five main buckets of fees: stocks/ETF trading fees, stock and index options trading fees, margin interest, Level II market data fees, and miscellaneous fees including transfer and futures fees. While these fees exist, many are nominal and Webull remains a highly cost-effective platform for active and retail investors alike.
If you are interested in a low-cost platform with robust features, Webull is worth considering. For the most current fee schedules and details, always refer to the official Webull pricing page.
If Webull sounds like a good investment platform for you, sign up for free today!
