Webull is the first mobile brokerage platform that offers a unique community-driven experience. The well-designed mobile app places great emphasis on ease of use and helps beginners jump straight into the world of investing. Check the Webull review next, The We bull platform is slowed down by comparatively thin teaching material and only adequate customer service.
Webull does not charge trading fees for stocks and exchange-traded funds (ETFs). There are also no downtime fees or monthly maintenance fees.
Unlike most other online brokerages, Webull does not charge any commissions or contract fees for trading options. But not everyone can access this trade – you must be approved to trade options after completing an application that measures your knowledge of options, risk tolerance and financial resources, and investment experience.
Similar to many other online brokerage platforms, Webull’s commission-free trading has one important limitation: the business is paid for the flow of orders.
Webull platform and technology
The Webull mobile app is well designed and easy to use. The clean, minimalist user interface prevents all charts, graphs, and data sources from being overwhelmed by new investors.
Webull offers a web-based platform and a downloadable desktop platform and as well mobile application. The interfaces of each are very similar, simple to use, and easy to navigate.
Webull provides users with two levels of market data. Access to level 1 trade data containing the highest bid information and Level 2 data shows the range of bid / asks prices for a particular security. New users get three months of free access to Level 2 data; then it costs $ 1.99 per month
The community is structured like a proprietary Twitter feed – users comment on stock market news or individual stocks and also have the opportunity to post reactions to price changes.
Webull encourages users to make predictions about the expectations rise or drop of stocks by giving points to those with correct predictions. This combination of gamification and social media keeps users engaged without them having to take any active action.
Webull Customer Service and Security
Telephone support is available between 9:30 am. M. and 4 p.m. M., Eastern Time, Monday through Friday. The customer service representatives are friendly and helpful when you can reach them. In our tests, we had about half of the calls on hold for more than 10 minutes and eventually, our call was not answered.
You can also contact customer service via email and the agency appears to be relatively responsive, with response times measured in hours rather than days. However, live chat is not available. So if you have a problem at night or on the weekend, you need to take a risk with email.
Webull offers 128-bit encryption, mobile security functions, and firewalls for security reasons. Securities Investor Protection Corporation (SIPC) offers customers standard insurance of $ 500,000, of which up to $ 250,000 can be in cash.
Webull’s clearing company, Apex Clearing, offers additional insurance so, customers are safe by securities and cash up to a total of $ 150 million per Apex policy, with individual customer caps of $ 37.5 million for securities and $ 900,000 for cash.