Upfront Summary: Is Webull worth it? 

Long story short, Webull is legit. Webull offers features that differ from some of their competitors, but they don’t have it all. It does not offer mutual funds trading. It makes up for it in offering zero commission and advanced analysis tools. You can trust that Webull is safe. The company has strong data security measures and registration with governing agencies. 

Webull is a financial company, broker dealer, and trading app. It is legal, legit, and safe for investors to use. They offer a platform for investing in stocks, options, ETFs, and cryptocurrency. 1 in 10 people invest in cryptocurrency these days. A platform that combines these investments in one place is valuable. 

Webull company info 

Official Website: https://www.webull.com
Founded: 2017
Owner: Fumi Technology
Number of Employees: 116
Revenue: $24.4 million
Location: New York City, New York, USA
Customer Service Contact:Email: customerservices@webull.us Phone: +1 (888) 828-0618
Social Media:Facebook; Twitter; Instagram; Youtube

What is Webull? 

Webull is a financial company and investing platform. It is a new company seeking to ride the wave of modern trading platforms. It offer trading tools and services in a user-friendly interface. You can access Webull through the app or on the computer. Webull’s unique services include extended hours trading, zero commissions, no deposit minimums, 24-hour customer service, and in-depth analysis tools.

Webull offers customers two different types of accounts—individual brokerage accounts and IRAs. Webull’s individual brokerage account allows trading of stocks, options, ETFs, and cryptocurrency. IRA stands for Individual Retirement Account. Webull offers Traditional, Roth, and Rollover IRAs as means to save for retirement. 

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How does Webull work? 

Webull is a brokerage for investors in stocks, options, ETFs, cryptocurrency, and IRAs. The app makes it easy to track current and potential investments. Webull allows investors in stocks and cryptos to view all their investments in one place. It has advanced tools that allow you to strategically buy and sell. Their zero commission business model is attractive for users. 

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Is Webull safe and legit or a scam? 

Webull is safe and legit. Webull Financial LLC is registered with the Securities and Exchange Commission (SEC). The SEC oversees and enforces federal securities laws. They require all public companies to fairly report information. 

Webull is also a member of the Financial Industry Regulatory Authority (FINRA) and Securities Investor Protection Corporation (SIPC). Both FINRA and SIPC are government authorized organizations that work to protect the security of investors and fairness of the market. Webull’s participation in these three organizations confirms its legitimacy and legality. On top of that, an extra insurance policy covers Webull’s customers. You have a very low chance of being scammed while using this platform. 

Webull’s site is not known to contain any viruses or malware. They have operated with optimal cybersafety and security since 2017. Webull does not steal sensitive data, and does not have a history of data breaches. Their website states that Webull “stays up-to-date with the latest data security.” Based on their track record, personal information will be safe in your Webull account. See Webull’s Privacy Policy for more information. 

There are no similar fake sites currently out there to be aware of. Yet, it is always important to use common sense and make sure websites you visit are legit. 

Webull does not go into detail on their specific security infrastructure. They do ensure that they have robust systems in place to protect your data and money. On top of that, they have an “emergency response plan” to mitigate any security incidents. Webull recommends using a VPN to trade, specifically when trading cryptocurrency. Using a VPN provides data encryption and “makes it almost impossible to track your online activities.”

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Is Webull trustworthy and reliable? 

Webull’s ratings online are favorable. Their average rating on a variety of online sites is about 4 out of 5 stars. Customers praise Webull’s ease of use, non-existent transaction fees, and access to crypto trading. The company tends to rank low in their educational services and investment types offered. Mutual funds are not offered in Webull, which can be a deal-breaker for some traders. 

There are currently 157 complaints filed against Webull in the Better Business Bureau (BBB). Many complaints argue that: Webull was asking for unnecessary customer information, that Webull would not release the customer’s money, or that Webull took an incorrect amount of money out of a customer’s bank account. It seems that Webull has worked to reconcile these complaints. 

Webull does not list any refund protection on their website. If you come across a situation that warrants a refund, contact their customer service. 

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Who should choose Webull? 

Characteristics of an ideal Webull customer: 

  • An intermediate investor 
  • Someone interested in combining their crypto and stocks into one convenient location ● An investor looking for an easy-to-use trading app 

Webull App Review 

Webull’s app allows users to sort their stocks and crypto in their own curated watchlists. The search feature makes it easy to find any stock or crypto and add it to your watchlist. Webull’s watchlists make it easy for users to keep an eye on current or potential investments. Webull also gives users access to live market data around the world. 

Webull has an Alert feature that allows you to set notifications when stocks or cryptos hit different prices. Webull makes it easy to buy, sell, and view information about investments. It has features that allow you to set prices at which to sell or buy stocks or cryptos. You can share stocks with friends, transfer money, access tax information, start an IRA, and more all within the app. The app is totally legit and safe to use.

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Is Webull insured and regulated? 

Webull Financial LLC is registered through the SEC. It is also a member of the FINRA and SIPC. Webull is additionally insured with a third-party provider to offer “protection for securities and cash up to an aggregate of $150 million, subject to maximum limits of $37.5 million for any one customer’s securities and $900,000 for any one customer’s cash.” 

Webull’s Fees and Costs 

One of Webull’s selling points is their zero commissions. In reality, this means Webull itself does not make profit off of commissions. Instead, they profit from some fees and monetize their customers’ order flows. 

You may still encounter some fees. Interest on margin trading ranges from 3.99-6.99 percent depending on margin loan. Webull does not charge commissions, but there are still hidden fees applied by others. These fees vary but are usually a very small fraction of the traded amount. Nonetheless, these fees can stack up, so it is important to be aware of them. Other fees include wire transfer fees, an outgoing securities transfer fee of $75, and ADR fees. Visit Webull’s Fee Schedule for more information. 

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Does Webull have good customer service? 

Webull prides itself on its 24/7 customer service. You can contact them via email or phone with any questions or concerns you may have. They do not offer a live chat feature. If you are not satisfied with Webull’s response to a complaint, Webull’s website encourages you to file a complaint with FINRA. 

Supported Countries 

Supported countries include the United States, India, Brazil, Turkey, Japan, China, and Korea. Webull is working to bring access to more countries. Webull can notify you when it becomes available in your country. 

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Pros and Cons

Pros Cons
Easy to useMutual funds not available to trade
Trade cryptos and stocks in oneLacking educational materials location compared to competitors
Advances trading toolsNo live chat feature for customer ● Promotions and offers service inquiries
Promotions and offers–
Zero commissions or minimums–

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Webull Careers 

Is Webull a good company to work for? 

According to Glassdoor Webull Financial is a great company to work for. They seem to value their employees, company culture, and growth opportunities. 

Is it difficult to get a job at Webull? 

Webull is still a small company. They only hire for 5-10 positions at a given time. Because of this, and because their performance standards are so high, it might be difficult to get a job. With the right qualifications, you can still have a good chance. 

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Best Webull Alternatives 

When making a financial decision, such as opening an investment account, it is a good idea to weigh your options. Here are some alternatives to Webull to check out. 

  • Robinhood 
  • Moomoo 
  • Fidelity 
  • Charles Schwab 
  • Coinbase 

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Additional FAQs 

Is Webull owned by China? 

Fumi Technology, a Chinese holding company, owns Webull Financial LLC. Several private equity investors own portions of Webull Financial LLC through Fumi Technology.

Is Webull good for beginners? 

The app lacks a thorough educational aspect, so other apps may be better for beginners. However, it is very simple and easy to use. With a bit of outside research, a beginner could do fine with Webull. 

How much does Webull charge to withdraw? 

You can withdraw via ACH for free. U.S. domestic wire withdrawals come with a fee of $25 per transaction. 

Is it safe to give Webull my Social Security Number? 

Yes, it is safe based on their credibility and personal information protection measures. 

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