Webull Financial LLC, founded in 2017, is a rapidly growing online brokerage firm headquartered in New York City, USA. It operates under the ownership of Fumi Technology, a Chinese holding company. Webull primarily targets a demographic of self-directed investors, particularly appealing to millennials and younger traders who favor a mobile-first approach. The company has experienced significant growth since its inception, amassing over 11 million registered users by 2021.
Webull's business model focuses on providing commission-free trading for stocks, ETFs, options, and cryptocurrencies. The platform was designed to cater to both casual investors and active traders, offering advanced trading tools and a user-friendly interface. The firm has made impressive strides in the brokerage industry, particularly with its unique community-driven experience, enabling users to share insights and discuss market trends.
As a discount broker, Webull primarily serves retail clients, although it has also begun to expand its offerings to include futures trading and other investment vehicles. The firm is known for its low-cost structure, with no account minimums and a focus on providing a wide array of tools for technical analysis and trading strategies.
Webull is regulated by several key authorities, including the U.S. Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA). The company's regulatory numbers are as follows:
These regulatory bodies ensure that Webull adheres to strict compliance measures, including maintaining a certain level of capital to protect customer funds. Webull is required to separate client funds from its operational funds, ensuring that customer assets are safeguarded against potential financial difficulties faced by the brokerage.
In terms of customer fund protection, Webull participates in the Securities Investor Protection Corporation (SIPC), which provides up to $500,000 in coverage for customer accounts, including a $250,000 limit for cash. Additionally, Webull's clearing firm, Apex Clearing, offers further protection, covering up to $37.5 million for securities and $900,000 for cash per individual customer.
Webull implements robust Know Your Customer (KYC) and Anti-Money Laundering (AML) compliance measures to verify the identity of its clients and prevent fraudulent activities.
Webull offers a wide range of trading products, including:
While Webull provides a strong offering for retail traders, it does not currently offer mutual funds, forex trading, or extensive fixed-income products. The platform is continuously expanding its product offerings, with plans to introduce more asset classes in the future.
Webull's investment services are geared towards both casual and active traders, providing tools for technical analysis, market data, and educational resources. The firm also offers fractional shares, allowing investors to purchase portions of stocks based on their available capital.
Webull features a proprietary trading platform that is accessible via web, desktop, and mobile applications. The platform is designed to facilitate a seamless trading experience, with a focus on advanced charting and analytical tools.
Webull operates on a hybrid execution model, utilizing both market-making and payment for order flow (PFOF) to facilitate trades. While this allows for commission-free trading, it may lead to slightly slower execution times compared to firms that do not engage in PFOF.
The technology infrastructure is robust, with servers located in key financial hubs to ensure fast order execution and minimal latency. Webull also provides an API for automated trading, catering to traders who prefer algorithmic strategies.
Webull offers several account types to cater to different trading needs:
The trading conditions are favorable, with no commissions on stocks, ETFs, and options. However, a $0.55 fee applies to certain options contracts. Webull also offers overnight financing fees and allows for a variety of order types, including market, limit, stop, and trailing stop orders.
Webull supports multiple deposit methods, including ACH transfers and wire transfers. There is no minimum deposit requirement for standard accounts, making it accessible for new investors. However, margin accounts necessitate a minimum equity of $2,000.
Withdrawals can be processed through the same methods as deposits, with a typical processing time of 1-3 business days. Webull does not charge withdrawal fees, although third-party payment providers may impose their own charges.
Webull offers customer support through various channels, including:
While Webull has a range of educational resources, including tutorials and webinars, the quality and depth of these materials can be limited compared to more established brokers. The platform also features a community section where users can share insights and strategies.
Market analysis services are available, including daily updates and news feeds, but Webull lacks in-depth research reports commonly found with larger firms.
Webull primarily serves clients in the United States and Hong Kong. The firm does not accept clients from several countries, including those in Europe, Canada, and many other regions.
In summary, Webull is a competitive broker for commission-free trading, particularly appealing to younger investors and those interested in active trading strategies. However, it may not be the best fit for those seeking a wider range of investment products or extensive educational resources.
洪玉2726
Japan
The broker was introduced by a friend. I want to withdraw but can't contact anyone. It only shows the withdrawal was unprocessed. The customer service can't be contacted either. I don't know how and ask whom to solve it.
Exposure
2024-05-12
FX1669545234
Netherlands
What I like the most is the spreading cheaper compare to the other broker but there is need to improve a little bit that can make it more convenient when it comes during withdraw the money. If possible allow us to withdraw money directly to any card that we use to me deposit either credit or debit card. Other than that so far so good.
37130
2024-04-30
Arctant vecy
Malaysia
Webull's got legit regulators and user-friendly account options, so I didn't hesitate to trade with them!
Positive
2024-07-31