Webull is my favorite stock trading app for building watchlists and tracking popular stocks, ETFs, and cryptocurrencies.
I use both the Webull app and desktop platform everyday so I have a lot of experience using the platform. In this article, I’ll share with you my honest opinion on Webull and whether you should sign up for an account and start trading stocks & crypto there.
What is Webull?
Webull is a Chinese based stock & crypto broker that offers free trades to its customers. Webull is considered a strong alternative to Robinhood and many investors use the platform on a regular basis.
To get started, sign up for Webull using this link to receive 2 free stocks after your first deposit.
It takes around 2 to 3 business days to setup and approve your account.
Once your account is confirmed, you can make your first deposit via bank ACH and begin trading on the platform.
Right now, Webull is only available in the United States, India, Brazil, Turkey, Japan, China, and Korea. If you live in Canada or outside any of these countries then try Robinhood or another similar brokerage. I’ll review more stock trading apps in the future to give you some more options.
Trading Stocks & Crypto
Webull offers free stock trades and that’s one of the main reasons I use the platform. You can setup limit or market orders along with advanced exit orders like trailing stops and stop losses.
Webull also supports fractional share trading and DRIP (dividend reinvestment plans) too.
However, I don’t recommend trading crypto on the platform because you cannot send your coins to another wallet (similar to the problem with Robinhood). When you purchase crypto on Webull, you hold a deritivate of the coin and must sell your crypto to lock in any gains.
If you are interested in HODLing your coins for the long run then I recommend using Coinbase or another cryptocurrency exchange instead.
If you’re just interested in trading crypto for a profit then Webull is a good enough choice.