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Is Webull Trustworthy? An Honest Webull Review

What Is Webull?

Webull is an online discount brokerage that offers commission-free trading, retirement investing, cryptocurrency trading, and margin trading. Webull offers several key features such as retirement investing, cryptocurrency trading, and margin trading. Webull also offers several other features including commission-free trading and free real-time quotes.

Webull is a registered business entity in the United States and a member of the Securities Investor Protection Corporation (SIPC), the New York Stock Exchange (NYSE), and NASDAQ. The investment app has earned multiple awards, including being named one of the best brokerages for beginners in the Benzinga Fintech Awards. This company started in 2017 and is based in New York City.

Webull, like most US brokers, focuses mainly or exclusively on the US market. Fidelity and Interactive Brokers also cover international stock exchanges. Fidelity and Interactive Brokers are exceptions to this trend because they offer stocks and ETFs from a variety of countries. This Webull review helps you consider this platform for Trading in 2021.

Is Webull good for beginners?

When it comes to its web platform, Webull might be a good choice for beginners because of its user-friendly interface. For people who want to trade for the first time and to launch a demo account, Webull can be an optimal choice.

If you are beginning in the world of investing, then Webull’s platform might be the best choice for you. While it lacks the fancy dashboards of Google or Amazon, Webull can still provide an excellent overview of your financial health. The site’s free and open-source software, as well as its intuitive interface, make it a great option for someone new to financial monitoring.

Existing financial watchers will also find this site valuable for providing fresh, emerging trends as well as established pros within the industry. The company has raised $1.25 million in funding to date from investors including Battery Ventures, Arctic Winter Ventures, Khosla Ventures, and StartX.

Webull Fees

Trading is completely free on Webull. They do not have any hidden fees, and that’s true for both stocks and options. You will also never be required to deposit a minimum balance.

Webull offers zero commissions and has a $0 fee for any deposit made by ACH. There is no charge for domestic wire transfers, however, any international wire transfer will cost $25 per transfer.

Webull offers a stock trading platform with no trading fees. Commissions are only charged on stock and ETF purchases, but spreads are always very small.

Is Crypto On Webull Safe?

This is generally the safest way to store your crypto because it’s easy to control with Coinbase. However, a big risk of using Coinbase to store your crypto is that Coinbase could be hacked and you could lose your money.

An easy way to avoid the risk of a hack is to use Coinbase as your storage option. If you want to avoid the biggest risks that come with a cryptocurrency wallet, storing your crypto on an exchange is probably a bad idea.

Is Webull trustworthy?

The Better Business Bureau reported in 2017 that Webull doesn’t excel at customer interactions; it received an F rating. The BBB’s ratings don’t guarantee a company’s reliability or performance. The company received this score due to a large number of customer complaints.- This does not necessarily mean the company is unreliable or poorly performing, but it may be a good idea to check other sources

The BBB’s investigation into Webull revealed that the company failed to respond to its customers or resolve complaints. Webull temporarily restricted trading on Gamestop, AMC Entertainment, and other stocks due to their incredibly high prices. This turned out to be a good decision because Gamestop, AMC Entertainment, and other stocks dropped in value after the restriction was removed.

Is Webull A Good Option for you?

The ability to trade before meeting a minimum account size requirement makes Webull a good choice for active traders looking to trade commission-free. The cost of trading with Webull is only $0.50 per transaction (comparable to free platform Robinhood) for stocks, ETFs, options, and more. In addition, Webull provides the best Brokers For Stock Trading in 2021.

The brokerage offers clients cryptocurrency investing, margin accounts, ADRs for international stock trading, market data for big stock trades, and full-time staffing. Webull is open 24/7. Webull opens at 9:30 a.m. (EST) and closes at 4 p.m. Extended hours trading lets you place trades. Although Webull is a great investment app, it might not be the best option for those who are looking for joint brokerage accounts, education savings accounts, or mutual funds.

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