Webull.com Review

Webull is regulated by the United States SEC (Securities and Exchange Commission) and is a member of the SIPC which protects (up to $500,000, which includes a $250,000 limit for cash) agaist the loss of cash and securities held by the customer.

This provides clients with considerable safety.

Webull is free in terms of commission charges. Webull does not charge fees for opening or maintaining an account.

However there are regulatory fees charged to all sell orders along with margin rate fees and shorting position fees etc.

Please check their website for a complete list.

Webull provides stock trading and other financial investments.

It is well-known that trading of stocks and all other investment products involves substantial risk of loss, but also gives you a chance to make money.

Webull is a US and Chinese company.

The Chinese office of Webull is located in Chansha. The USA office of Webull is located in NY.

US based financial companies like Webull are required by US federal law to verify the identity of any US citizen or resident who applies for an account.

Part of this verification requires the account holder to provide a SSN (Social Security Number).

Day trading is possible in Webull, however the number of day trades varies depending on the account type and value.

For example:

• With a margin account, both settled and unsettled funds can be used for day trading. For the net account value of $25,000 or more, unlimited access to day trading is provided. For the net account values less than $25,000, only 3 day trades are permitted within 5 successive business days.

• With a cash account, only settled funds can be used for day trading. When the settled funds are used up that day, day trading ability ends for the day.

FDIC insurance is only for consumer accounts held in US Banks.

Instead, Webull accounts are protected by the SIPC (Securities Investor Protection Corporation), which covers up to $500,000 in equity,of which up to $250,000 can be cash in the account.

It is pretty straightforward to make a deposit on Webull.

• Login to the Webull app or website.
• Click the deposit button.
• If your bank account is already linked, you only have to then enter the amount and click transfer.

Webull currently only offers service to USA, India, Philippines, Malaysia, Japan, China and South Korea.

Webull does offer many global stock market exchanges including European markets.

Penny Stocks, also known as micro-cap stocks, nano-cap stocks, small cap stocks, or OTC stocks, are stocks with a share price below $5.00. Due to the inherent risks of penny stocks, Webull does not offer penny stocks.

However due to price volatility the stocks you are holding may turn to penny stocks. If you would like to close the position on those penny stocks, you have to contact the Webull Help Center.

Withdrawals via ACH take 1-5 business days.

Funds deposited via ACH have to be held in the account for a minimum of 7 trading days before they can be withdrawn.

Usually transferring stocks from one broker to another costs $75.

One way to avoid this fee is:

• Sell all your stocks in your current broker.
• Withdraw the money from your current broker.
• Transfer the money to your Webull account.