Is Webull safe? Should you use Webull to invest your money?
I will answer these questions soon but first, you need to learn what Webull is if you don’t know.
This is an honest Webull review where you will get all the information you need to know about Webull!
I highly recommend investing your money so it can grow over time and Webull might be the right brokerage for you.
Plus, you will get a sign-up bonus when you create a free Webull account, stick around to find out what it is…
Now, let’s go over what is Webull and answer the question “is Webull safe”…
Table Of Contents
What Is Webull?
Webull is a brokerage platform that allows you to invest in Stocks, Options, and ETFs for absolutely free!
That’s right, Webull is a zero-commission platform which means that you can buy and sell stocks for free!
However, there are some other fees that you should be aware of and we will go over them soon.
Webull was founded in 2017 so they are a pretty new broker in the game but they really came out swinging with some awesome features.
Fumi Technology is the company that operates Webull and they are a Chinese company but Webull is open to U.S Citizens, Chinese Citizens, and Indian Citizens.
Even though Webull was founded in 2017 they have millions of users on their platform and manages over $3 billion dollars!
Webull is a great investing platform but should you use it? Is Webull safe? Let’s find out…
Is Webull Safe?
Now that you know what Webull is, let’s answer the million-dollar question “is Webull safe?”
I know that you don’t want to put your money in any online brokerage and it might be a bit worrisome to put your money in a brokerage that is only a few years old.
However….
Webull is completely safe to use. Webull is regulated by the SEC and FINRA and they are a member of SPIC which means your money is insured and safe from any financial trouble Webull might have.
You are protected for $500,000 in securities which include a $250,000 cash limit. So, Webull follows regulations and makes sure you are protected in the event they run into some financial trouble.
Webull is also partnered with Apex Clearing which is a popular and trustworthy clearing firm that makes sure your money is going to the proper place.
Plus, Webull uses high-level encryption to keep your account and information safe and secure.
So as you can see, Webull is safe and they implement best practices to make sure your money is safe!
Now that we answered the question on “is Webull safe?” it’s time to learn how to use Webull to invest and make money…
How To Use Webull
The first thing you need to do to use Webull is signup for a free account (common sense right?).
Plus, when you sign up to Webull using my link you will get two stocks for absolutely free!
All you need to do is sign up to Webull to get one free stock and then make your first deposit to get your second free stock.
So, sign up to Webull to start your investing journey!
Sign Up To Webull Here!
You will need to sign up with either your email address or phone number and you will need some proof of identity and residency like address, social security number, driver license number, etc…
During the signup process, you will see that you have two options which are a regular cash investment account or a margin trading account.
There is no balance requirement for a cash account but for a margin account, you will need to maintain at least $2,000 in your account to make trades.
I recommend starting off with a regular cash investment account if you are a beginner investor.
You can also open a Traditional IRA, Roth IRA, or Rollover IRA with Webull!
After the signup process, Webull will review your application and then approve your account if everything works out!
You will then receive your first free stock and after you make your first deposit of $100 or more you will get another free stock!
Get Your Free Stocks Here!
Once you are logged into your account you will see a few different screens and we will go over all these features soon.
Now, you can start investing right away! Let’s go over all the Webull features offered…
Webull Features
Let’s take a look at the awesome features that Webull offers…
Trading Platform
The most in-depth and possibly the most important feature that you are going to use on Webull is their trading platform.
You can access the trading tools via the Webull website or you can use the Webull app to make trades.
We’ll dig deeper into the Webull app soon so stick with me…
In the Webull trading platform, you have access to in-depth analysis tools and charts that you can use to evaluate stocks easily!
As a beginner investor, all these tools and charts may look scary and confusing but you don’t have to use them, as an advanced investor these tools are great to use.
Plus, you also get access to a stock screener where you can use filters to easily find the best companies to invest in!
Also, Webull offers full extended hours trading which means you can execute trades in pre-market hours (4:00 AM – 9:30 AM EST) and in after-market hours (4:00 PM – 8:00 PM EST).
Paper Trading
An awesome feature that Webull offers is paper trading which is basically simulated trading so you can practice trading stocks without risking your money.
This is a great way for beginner to intermediate investors to get more experience with trading stocks and using all the analysis tools on the trading platform.
I highly recommend utilizing this paper trading feature to gain some experience with trading.
Options Trading
Webull also allows you to trade options for completely free!
Yes, that’s right. You can trade options on Webull commission-free and contract-fee-free.
If trading options is something you are interested then sign up for Webull and start trading options for completely free now!
Stock Lending Program
Webull also offers this interesting feature called the Stock Lending Income program.
So, what is the Stock Lending Income program?
The Stock Lending program is an interesting program that lets you earn some extra income by letting Webull lend out your stocks.
If you choose to participate in this program, Webull will take your fully-paid stocks and lend it out and in return, you will get paid interest!
Not all your stocks will be lent out, it depends on the market demand and you will still be able to sell the stocks at any time even if they are lent out.
Plus, you will still receive dividends on stocks that are lent out.
This is a great way to earn some extra income, so check out the program on Webull now!
Watchlist
A great feature that Webull offers is a stock watchlist.
This feature exists so you can add your favorite stocks or ETFs to this watchlist so you can easily find and analyze these stocks/ETFs.
Also, you can set alerts on stocks in your watchlist so you can be notified when the stock dips below or raises above a certain price, rises/falls a certain percentage, hits a 52-week low or high, goes above or below a certain moving average, etc…
So, as you can see this feature is super powerful and I highly recommend using this tool to keep a close eye on great companies to invest in!
Explore Markets
A very helpful feature that is available on Webull is the ability to quickly explore the market as a whole as well as certain indexes and sectors.
You will be able to see how the market is performing for the day and you will see the top gainers as well as top losers.
Webull also lists high performing ETFs and industries so you can get an idea of where to invest your money.
There is also the ability to explore upcoming IPOs, see high dividend stocks, see hot stocks on Webull, etc…
The Markets section is a great way to get an overview of the market and see some high performing stocks and ETFs.
Cryptocurrency
Another neat feature Webull offers is the ability to track the prices of many different cryptocurrencies.
However…
Webull doesn’t allow you to trade crypto on their platform, you can only view, track, and analyze crypto.
If you are interested in investing in cryptocurrency to diversify your portfolio (which is a smart move by the way) then I highly recommend signing up to Coinbase.
Plus, when you sign up to Coinbase with my link and invest $100 in any cryptocurrency you will get $10 worth of Bitcoin for free!
Webull Day Trading
I must tell you that day trading is a pretty dangerous game but there is a lot of money to be made in day trading.
It definitely is a high-risk high-reward strategy!
Webull is an awesome brokerage that you can use to day-trade for absolutely free!
To day-trade on Webull, you will need to sign up for a margin account and you only get 3 trades every 5 days.
If you have over $25,000 in your account you will get unlimited day trades on Webull!
Now, I highly recommend being very careful with day trading because you can lose out on a lot of money.
Webull Community
A really awesome feature Webull offers is its community tool which allows you to communicate with like-minded investors.
The community feature is only available on the Webull app so make sure you get the Webull app as soon as possible.
On the Webull app, you will see the community section on the bottom menu and once you click it you will see the different options in the section.
You will first see the stream section which is a chat platform where you can chat with other Webull users on certain stocks, trends, investment tips, etc…
Then there is also an option to compete with other Webull users in a paper trading competition which is an awesome way to gain experience in trading stocks.
The other two options are Top News and Watchlist news which are just trending articles in the finance world and specific news/updates about the specific stocks in your watchlist.
I highly recommend utilizing the community tool on Webull to stay updated on the current news and collaborate with other investors!
Referral Program
Webull also offers a very generous referral program that you can use to make some extra money easily!
Once you sign up for your free Webull account you will get instant access to the referral program.
All you need to do is share your unique referral link with friends and family to earn free stocks!
The way it works is like this…
Once someone signs up to Webull with your referral link and their account is approved you will get on free stock valued from $2.50 – $250!
Then when they make a deposit of at least $100 within 30-days of signing up you will get another free stock valued from $12 – $1,400!
This is such an easy way to make some extra cash and I highly recommend utilizing Webull’s referral program.
Plus, Webull constantly has promotions to earn even more free stocks from your referrals. For example, one of their promotions is to successfully refer 3 people to earn 9 free stocks!
To check your referrals, open the Webull app, and then go to the menu section and you will see the promotion center at the top of the screen.
Select the invitation bonus section and then select my invites to see the status of all your referrals.
Back at the main menu, there is an option for My Free Stock which will show you all the free stocks you earned from referring people.
That’s it! It’s such an easy way to get a lot of free stocks and I highly recommend signing up to Webull and using their referral program!
Get Your Referral link Now!
Webull Fees
As we briefly went over earlier, Webull charges no fees for buying and selling US-based stocks, ETFs, and options!
However, there are some fees that you should be aware of so you don’t get blindsided…
Selling stocks and ETFs have transaction and regulatory fees from the SEC and FINRA.
- The SEC transaction fee is determined by this calculation: $0.0000221*Total $ Trade Amount (Min $0.01)
- FINRA uses this calculation for the regulatory fee: 0.000119* Total Trade Volume (Min $0.01 per – Max $5.95 per)
- Options have the same SEC fee listed above but the FINRA fee is – $0.002 * No. of Contracts (Min $0.01).
There is also a regulatory fee and clearing fee for buying and selling options.
- This is the options regulatory fee – $0.0388 * No. of Contracts and this is the options clearing fee – $0.055 * No. of Contracts (Max $55 per Trade).
It’s important to note that these are not fees from Webull. These are fees from regulatory agencies.
If you choose to trade on margin then you will have to pay a finance rate to Webull for borrowing money. The more money you borrow the lower the fees are, the breakdown is as follows:
Another fee Webull has is its wire transaction fee for deposits and withdrawals. If you use ACH transfer then there are no fees so keep this in mind.
Here are the wire transaction fees broken down:
The last fee Webull has is for transferring securities, if you choose to transfer your stocks to another broker there is a $75 fee.
That’s all the fees for Webull. Yes, there are some fees with Webull but for most users that are doing standard investing, there are no fees at all!
Webull App
As I mentioned before Webull has an app and the app is truly awesome!
The downside to many brokerages is that their apps are not as intuitive as their website but Webull it’s actually the opposite.
Webull’s app is so much better than their website. You have access to more options and it’s more user friendly!
Just get the Webull app from the App Store or Play Store and then sign in.
If you didn’t signup for a Webull account yet then sign up to Webull here to claim your two free stocks!
Once you login to the Webull app you will see the different Webull menu options on the bottom of the app.
These are all the features that we went over earlier like the Watchlist, markets, trading platform, community, and account menu.
The Webull app puts a powerful investment platform right in the palm of your hands!
You get all the awesome investment tools that you will get from a high-end brokerage for absolutely free!
So, sign up for your free Webull account and get your free two stocks now!
Get The Webull App Here!
Free Stocks
Who doesn’t like free stuff? Especially free stocks that increase in value over time!
We already went over Webull’s referral program earlier so you should already know how to get free stocks from referrals.
But what do you need to do to get your two free stocks when you sign up to Webull?
You will get your first free stock valued from $2.50 – $250 after you sign up to Webull and get your account approved.
Then you will get your second free stock valued from $12 – $1,400 after you deposit at least $100 into your Webull account!
So make sure to follow these simple steps to get two free stocks easily from Webull!
Sign up to Webull, claim your free stocks, and then start your investing journey.
Claim Your Free Stocks Now!
Customer Service
One main factor that goes into the question “is Webull safe” is how good and reliable is their customer service.
So how great is Webull’s customer service?
Well, to be honest, it’s not that great. Webull is definitely not a scam but their customer service could be much better.
You have three ways to contact customer support, one is by calling them, the second way is by emailing them and the third way is by using the in-app support portal.
By talking to many people and seeing many reviews from customers the best way to get a quick response from customer support is by using the in-app support portal.
The worse way to contact support is by calling. Users state that they are put on hold for hours!
I’m not sure if it’s due to a small customer support team but I advise you to stay away from calling their customer support line if you don’t have to.
However, even though it might take some time to get your issue with Webull resolved with customer support, they do come through at the end!
Even though their customer service needs some work, Webull is still a really great brokerage that you can use to invest your money!
Webull Pros and Cons
Now that we answered the question “is Webull safe” it’s time to quickly list out the Webull pros and cons to see how Webull weights out.
Pros:
- Free trades on Stocks, ETFs, and Options
- In-depth trading platform and analysis tools
- User-friendly app and desktop site
- Easy sign-up process
- Free stocks sign up bonus
- Minimal fees
- Great security and protection
- No account minimum for opening an account
- Constantly adding new features and tools
Cons:
- Poor customer service
- High fees for wire transactions
- Can’t invest in mutual funds or cryptocurrencies
So, as you can see the pros greatly outweigh the cons!
With the commission-free trades, great trading platform, advanced tools, and free stocks what’s not to like?!
I highly recommend signing up for a free Webull account and using this awesome broker!
Get Your Free Webull Account Now!
Conclusion
Now you have your answer to the question “is Webull safe” it’s time to sign up for a Webull account and claim your free two stocks!
Webull is a safe and secure brokerage that allows you to invest in stocks, ETFs, and options commission-free.
It’s a great platform for beginner investors due to how user-friendly their app and site is and they are great for more advanced investors due to the number of trading tools they offer.
Sign up to Webull here and make sure you follow the simple steps to get your two free stocks! Also, make sure to invite friends and family to Webull to earn even more free stocks!
Claim Your 2 Free Stocks Here!
Want more free stocks? Make sure you check out my post on How To Get Free Stocks!
Plus, check out my post on The Top Investment Apps to see some other great investment platforms.
So, is Webull safe? What are your thoughts on Webull? Have you tried Webull before? Let me know in the comments below!
Are you ready to take control of your money? Check out these awesome money resources which will help you to make and save $1,000’s!
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