For serious stock traders, you only have a handful of options when it comes to finding a broker that offers all of the bells and whistles you need to conduct your research.
And when you take into account the prices charged for getting access to these tools and trading stocks, the field narrows even more.
Sadly there are only a couple of brokers that offer many of the things you need to be a successful investor and trade at no cost.
Even worse, these options leave a lot to be desired.
Fortunately, there is a new broker on the scene and they fit the needs of investors perfectly and do so without charging you commissions to trade.
Who is this broker?
It is Webull.
Webull Review Summary
- Ease of Use
- Account Fees
- Account Types
- Customer Service
For active investors, Webull is hands down the best broker available. Not only do you get access to incredible research and tools at no cost, but you also can trade stocks with zero commissions. Webull makes it easy to invest and to be successful with their education library and investor tools. Click here to start trading with Webull!
The first and only broker for active investors looking for state of the art tools and zero trade commissions.
In this post, I am going to walk through who Webull is, how to get started investing with them, and how you can earn free stock!
My Webull Review: The Best Free Stock Trading Platform
Who Is Webull?
The official company name is Webull Financial LLC., which was founded in 2018.
The company was started because the founders believed that everyone should have the same opportunity to control their own financial future.
What makes them different than most other brokers is their free stock trading platform and have access to real time market data, news and analysis.
How To Invest With Webull
Investing with Webull is the easiest I’ve found with any broker.
You can open an account and start investing in less than 15 minutes.
Here is the 3-step process.
#1. Use this referral link to sign up for your account. By using this link, US based investors get the opportunity for free stock!
When signing up, you can either use your mobile number or email address.
#2. Download the app. You can download it for either iOS or Android devices.
#3. Provide additional information to complete your account sign up.
This includes your name, address, social security number, and current employer.
To verify your identity, you will have to take a photo of your driver’s license or passport as well.
Finally, you have to answer a couple questions about your investing experience.
Here is a screen shot from the app with what you can expect when opening your account.
Within a few minutes, your account will be confirmed and you can start investing!
How To Get Free Stock With Webull
Once you have your account set up, it is time to get your free stock.
To get yours, you simply open your account and deposit at least $100 in your account.
You have 30 days from opening your account to make your deposit to get your free stock.
The free stock you earn will be valued at anywhere from $4 to $1,000 and will be credited to your account within 5 business days.
You can choose to keep the stock or sell it.
Click here to open your account!
Advantages And Drawbacks
If you are looking for a quick rundown of all the features Webull offers, here I highlight the advantages they have over their competitors and a few drawbacks as well.
This one is a no-brainer. When you can trade stocks and not pay a commission, it is an advantage over other brokers.
Real Time Quotes And Extended Hours Trading
You get real times quotes on equities and ETFs.
You also are able to trade during extended hours too.
The trading window begins at 4am and lasts until 8pm EST on business days.
The research tools Webull offers are the best in the industry and include the following.
- Advanced Charts
- Technic Indicators (Bollinger Bands, MACD, RSI oscillators, exponential moving averages etc.)
- Earnings Analysis
- Stock Screener
- Quotes Playback
- Security Comparison
- IPO Data
- GTC/ Stop Loss and Take Profit /OCO Orders
With most other brokers, you are looking at paying a monthly fee or need to trade a certain number of times per month to get access to these trading tools.
Not with Webull.
They are yours regardless of how often you trade and at no additional fee.
In addition to the above, you also get access to the following:
- Press releases
- Analyst recommendations
- Historical EPS
- Revenue data
- Insider holdings and transactions
- Financial calendars
- Watchlist and alerts
- Margin trading
- Extended-hours trading
- Short selling
Here is an example of a watchlist on the Webull app.
By having access to all of these tools and research, it allows you to be a successful investor over the long term.
You can get text messages or email alerts when a stock you are following hits a price target or indicator you have configured.
Doing this ensures you never miss a trading opportunity you identify.
This is a big advantage for Webull. They offer free training for beginners.
Here is a sample of what you can expect in your Webull account.
This training consists of lessons covering the stock market in general, the Webull platform and how to get the most out of it, and trading strategies to help you be a better investor.
Paper Trading Account
Webull offers a paper trading account for investors too.
With this type of account, you trade in real time, but it is a pretend account with pretend money.
This is great for beginners nervous about trading. You can practice in real time without risking your money.
Limited Investment Vehicles
The biggest drawback to Webull is the limited number of investment vehicles you can trade.
You are able to trade equities, ETFs on their platform.
Missing are mutual funds, options, bonds, and pink sheet stocks.
In my opinion, this isn’t a deal breaker for most traders.
Overwhelming At First Glance
When you first log into your account, it can be a little overwhelming with all of the options you have for trading, research, education, etc.
So at first glance, it is a lot to take in.
The good news is this feeling quickly passes and you see just how powerful the app is.
Webull understands this, and this is why part of their investor education includes a section on the Webull platform.
Frequently Asked Questions
I get many readers asking questions about Webull, so I created this FAQ section to answer many of the ones I get.
I will update this section as more questions come in.
What does Webull cost?
To trade with Webull, it costs nothing. There are no commissions that Webull charges.
However, the SEC and FINRA do impose small fees on sells only. Unless you are making large trades, most likely you will be charged $0.02 for every sell you make.
How does Webull make money?
Since you can trade for free, many users want to know how Webull makes money.
There are a handful of ways they earn income. They include the following.
- Margin loans
- Interest on cash accounts
While you might not think that they can earn a lot money with these options, this is not the case.
Take Charles Schwab for example. They have been slashing trading commissions for years. As it turns out, they only make a small percentage of their income from trading fees.
The majority of their income comes from the interest they earn on customer’s cash and margin accounts.
This is a similar model to what Webull is using.
Do I really get free stock from Webull?
As long as you use this referral link, you will have the ability to get a free share of stock.
Simply deposit $100 or more within 30 days of account approval and you will get a free share of stock.
Understand that you do not choose the stock you want. It is randomly given to you by Webull and there are various odds as to the value of the stock.
For example, here are the odds of the value of free stock:
- Free stock between $4 – $8 per share: 1 in 1.02
- Free stock between $8 – $100 per share: 1 in 74
- Free stock between $100 – $200 per share: 1 in 166.7
- Free stock between $200 – $1,000 per share: 1 in 2,000
As you can see, most likely you are going to get a stock valued between $4 and $8 per share. Most people report the free stock as Ambev (NYSE: ABEV), which is the parent company of Anheuser-Busch.
However, there are people who have earned a free share of Apple stock too.
At the end of the day, it is free money regardless of the stock you earn.
And in addition to the free stock, Webull runs promotions all of the time. A popular one is their paper trading competition.
You can see all current promotions in your account under the Promotion Center.
Is Webull safe?
Webull is regulated by FINRA and all accounts offer SIPC protection.
As of this writing, there are zero complaints about Webull. You can see the current BrokerCheck data here.
Additionally, they aim to keep your private information safe and protected.
They use state of the art encryption technology to keep hackers out.
When logging into your account, you can choose to set up 2-factor identification or pattern lock on Android devices to further secure your account.
Alternatives To Webull
With a crowded online broker landscape, you might think there are many alternatives to Webull.
The truth is there are only a couple of brokers that can compete with Webull.
M1 is another broker that offers commission free trades on stocks.
The major difference is M1 is designed more for long term investors that are not active trading.
For example, trades with M1 are placed once a day, whereas with Webull, you can place trades throughout the day.
You also won’t find the charting tools with M1 like you will with Webull.
But you will get investor education and you can completely customize a portfolio with stocks or ETFs and pay zero commissions.
Ally Invest is designed for active traders. They have a wealth of tools for traders to stay up to date on what is happening on Wall Street.
In fact, they offer just about everything Webull does.
The main difference is you cannot trade for free.
Ally Invest charges $4.95 per trade. However if you trade frequently enough, you can get this down to $3.95 per trade.
Even so, the no commission trades Webull offers is a better deal.
Robinhood is in the same field as Webull and M1 Finance as they offer zero commission trades.
They also offer options trading, which is something Webull does not.
However the charting tools with Robinhood are lacking when compared to Webull.
Overall, Webull feels like a premium service whereas Robinhood feels more like a novelty service. It is fun at first, but once you get past the initial hype, you are left wanting more.
Overall, Webull is an excellent choice for active investors. The fact that you get such powerful tool, investor education and free trades is something not to be taken lightly.
Add in the current promotion of free stock and Webull is quickly making a name for itself in the crowded online broker field.
If you are an active trader or even an investor looking for a great place to trade stocks for free, Webull needs to be on your short list of brokers to consider.
Click here to get started and to get your free stock!