What Is Webull?
Webull is a zero commission trading platform that allows you to buy stocks without paying any commissions. The app is available on both Android and the IOS app store. It is similar to RobinHood but goes further by listing international stocks from every exchange.
The company does business as Webull Financial LLC in the United States and is owned by Chinese company Fumi Holdings Inc.
Webull currently awards new members who sign up for an account with a free stock that is worth between $3 and up to $1000. The stock you receive is selected from their stock of settled shares. I have seen some members claim to have received a stock of Apple (worth $228 as of this writing) Just for signing up. You are allowed to keep or sell the free stock and withdraw the money. It is basically free money.
Ok. This is the one thing I like about Webull that I believe blows the competition away. They provide much deeper insight than any of the other zero commission investing apps. They provide full income reports, forecasts, balance sheet, and free cash-flow charts.
As well as press releases and insider trading activity for each stock. Overall I would recommend the stock charts 10/10.
As already mentioned Webull gives zero commission stock trades in the US for all US and Canadian securities. In my opinion, their interface for stock trading can be a bit confusing and cluttered. For example they don’t provide a live portfolio balance like Robinhood. Where you can see by the second changes in your account balance as the value of stocks you own change. But aside from that Webull allows you to buy, sell and place margin calls on stocks without any type of lag or delay which is good. They use Apex Clearing House which is the same firm that RobinHood uses.
Personally I use Webull to research stocks that I am interested in but do not currently use them for stock trading.
A new affiliate program was launched on September 3 that allows you to earn a free stock for every friend that you refer. The stock that you get is based on the same possibilities as the free stock that you get when you signup. There is no limit to the amount that you can get.
If you signed up and got a free stock please let me know what stock you got in the comments below.
Is Webull A Scam?
Webull is approved by Finra to do business as a stock broker in the United States and is insured by SIPC. This means your money is protected up to a total of $500,000 in stocks and holdings. However some things to be aware of:
- They are a new app and still only have a low number of users.
- Their Twitter account does not have the best English.
- Several typos can still be found on their website.
- Their they have less than 2,000 followers on twitter.
- Webull Financial LLC is owned by a Chinese company.
Personally I love their stock charts and use them daily for it but I do not use them to actively trade stocks.
Let me know your experiences with them in the comments below.