Webull.com Review

1 REVIEWS

Webull Financial LLC

Updated: Oct 21, 2020 · Visit site  · Is this your company?

Webull is a US stock broker. Webull offers the Webull desktop, mobile and web trading platform. Webull.com offers US stocks for your personal investment and trading options.

Webull.com

Broker Details

Exchanges: NYSE, Nasdaq
Minimum to Open Live: $0
Established: 2017
Address: 44 Wall Street, Suite 501, New York, NY 10005, United States
Contact: customerservices@webull.us, +1 (888) 828-0618
Regional offices:
Regulators: FINRA #, SEC #8-69978, SIPC #
Prohibited countries:
Trading Commission: 0
Deposit Methods: Bank Wire, ACH (Automated Clearing House)
Withdrawal Methods: Bank Wire, ACH (Automated Clearing House)

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1 REVIEWS
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Traders Reviews

Miami, USA,
Oct 20, 2020,
Registered user

Terrible customer service, scams with free giveaway shares

Service use: Live

Length of use: 0-3 Months

Terrible customer service, scams with " free giveaway shares". To answer your inquiries takes forever, if you selling your position they keep for them those apparently incentives.
 

Frequently Asked Questions

Is Webull legitimate?

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.

Is Webull really free?

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.

Can you make money on Webull?

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.

Is Webull a Chinese company?

Webull is a US and Chinese company.

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

Why does Webull need my SSN?

US based financial companys like Webull are required by the 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 (SocialSecurityNumber).

Can I day trade on Webull?

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.

Is Webull FDIC insured?

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.

How do I deposit on Webull?

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.

Is Webull available in Europe?

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.

Does Webull have penny stocks?

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 Webull Help Center.

How long does it take to withdraw from Webull?

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.

How do I switch from another broker to Webull?

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.