Webull provisional credit, Weibull trailing stop loss, free investing apps make it easier to trade stocks and avoid fees. But, unfortunately, many of these fee-free investing platforms lacked in-depth research tools until recently.
Webull has the potential to be one of the best investing apps, regardless of whether you “buy and hold” stocks and ETFs or make short-term trades. Webull provisional credit You may simulate trades and access additional advanced investing tools in addition to not paying trade commissions.
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Table of Contents
Webull’s Operation, Webull provisional credit
Webull is a stock trading app that debuted in 2017 that allows users to trade stocks, cryptocurrency, ETFs, and options without investing a commission. Weibull also will enable you to short stores.
While Webull is not the oldest stock brokerage, it has a popular following among DIY investors due to its low trade fees and comprehensive research tools.
Active investors who trade stocks and options regularly will profit the most from Webull’s comprehensive research tools, after-hours trading, and low platform fees.
Casual investors may also prefer Webull over other investing apps due to its additional features.
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Who Is Eligible to Join Webull?
To join Webull, you must be a US resident over the age of 18. In addition, you must have a valid Social Security Number and a lawful residential address in a United States state or territory.
To make an account with Webull, Webull provisional credit visit their website or download their mobile app. After providing your information, you can link a bank account and confirm two micro-deposits to start funding your investment account.
- By joining Webull, you can also receive one free stock share valued up to $1,600.
- Options for Funding
You can fund your Webull accounts in three ways:
- Transfers made via an ACH from a linked bank account
- Wire transfers from both domestic and international banks
- Stock transfers from an existing brokerage account
Although linking your bank account and scheduling an ACH transfer is free, your funds may wait up to five business days to settle. All brokers have regular multi-day transfer times.
Webull may offer a provisional credit of up to $1,000 to allow you to start investing before your cash transfer settles. You can also support your funds the same day if they arrive before 4 p.m. Eastern Standard Time.
Webull transfers your bank funds and provides your tax paperwork through Apex Clearing. Apex is a service used by numerous other micro-investing apps, including M1 Finance.
If you move an existing investment account to Webull, you will receive a refund credit of up to $100 to cover transfer fees.
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Account Options
Investors can open the following taxable and retirement accounts:
- Individual taxable accounts
- IRA (Traditional IRA)
- Roth IRA
- IRA Rollover
For taxable accounts, Webull offers cash and margin accounts. If you want to trade options, you can open one of each taxable account. Webull provisional credit.
Open a cash account if you solely intend to buy stocks and ETF shares and do not plan to short stocks or trading options.
You must first open a taxable cash account before you can open a Webull IRA. Webull allows you to have one IRA.
In addition, if you want to open a joint taxable account or a custodial account for your children, you’ll need to use a different brokerage.
Open an Account at WebullMinimum Account Balance Webull provisional credit
For taxable accounts and IRAs, there is no initial deposit requirement or required minimum account amount. However, to earn one free stock share as a joining bonus, you must make an initial deposit of at least $100.
Webull provisional credit. Other investing apps might have a minimum balance requirement for IRAs but not for taxable accounts.
To start shorting stocks, you must have at least $2,000 in your margin account. When trading options, additional margin account balance requirements apply.
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Options for Investing
Webull has numerous investment options to satisfy the majority of investors.
The following are the stocks in which you can invest with Webull:
- US stocks
- Foreign stocks (only American Depositary Receipt [ADR] tickers)
- ETFs
Options
However, you will not be able to trade Over-the-Counter stock tickers, which have unpredictable stock values and do not trade on a traditional stock market.
Individual bonds and mutual funds are also unavailable on Webull due to the higher fees associated with these investment options. Webull provisional credit. To gain access to the entire range of investment products, you need to use a full-service broker such as TD Ameritrade.
Order Varieties
During regular and extended market hours, you can place orders on-demand. Your order is executed at the current buy or sell price when using a “market order.”
It is also possible to use sophisticated order types such as limit orders, stop orders, and stop-limit orders to only trade if a stock has a specific share price.
- Fees for Trading
- It is possible for investors to never pay trading fees for these buy and sell orders:
- US stocks
- Stocks from other countries (ADRs)
- ETFs
Options traders have no per contract fees, which is impressive.
You will still pay FINRA and SEC fees for equity and options trades, as with other commission-free brokers. Webull provisional credit. These government fees apply to all brokers. When purchasing or selling stock, you may anticipate paying about $0.02 in fees.
With an account balance of $25,000 or less, your margin account can also have an annual margin rate as high as 6.99 percent. As your account balance grows, so does the interest rate.
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Other Webull fees
Webull does not charge account service fees or trade commissions, but using Webull’s extra services does incur a fee. Webull provisional credit. After all, even free investing apps have to make money.
Active investors may pay $1.99 for Nasdaq TotalView Level II data as a platform fee. However, Webull is presently offering three months of free Level II data before you have to pay.
When you don’t want to wait several days for funds to arrive from your bank, incoming wire transfers cost $8 from US banks and $12.50 from overseas banks.
Standard ACH bank transfers are free of charge, although they can take several business days to complete.
Plan on paying a $75 transfer-out fee if you decide to close your Webull account.
Characteristics
Webull has more functionality than the majority of free investing apps. Because of these advanced capabilities and the lack of fees, investors prefer platforms like Webull or Robinhood over traditional online brokers.
Webull may be worth considering if you want an investing app with the following trading features.Webull provisional credit.
Trades with No Commission
Webull does not charge trading fees to buy or sell stocks, ETFs, or options. To trade stocks and options, some brokers still charge an upfront fee. Not paying trade charges makes it easier to invest tiny sums of money rather than putting your wealth on the sidelines.
One disadvantage of investing with Webull is the lack of fractional investing, which allows you to buy partial shares of partial stocks.
Webull provisional credit. The cost of one share of stock is your minimum investment amount per trade. With a $5 minimum purchase, Robinhood, among other apps, offers fractional investing.
Another potential disadvantage for dividend investors is the lack of a dividend reinvestment program (DRIP). As a result, any dividend income you get is deposited into your cash account rather than reinvested and used to purchase additional shares.
Trading Options
Fee-free access to options trading may appeal to advanced investors. Call and put options are available between 9:30 a.m. and 4:00 p.m. Eastern Standard Time on market trading days.
Webull offers Level I (covered calls and cash-secured puts) and Level II (long calls and long puts) options trading. Webull provisional credit.
While Level III (options spread trading) isn’t yet available, Webull says it will be shortly.
For the time being, Webull does not allow bracket orders or trailing stop orders for option trades.
Because trading options are dangerous, not every investor should do it. Therefore, Webull will most likely require clearance before you can start trading options.
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Trading After Hours
One advantage of using Webull is the ability to trade at odd hours. Most investing apps allow you to change only during regular market hours, when stocks are the most liquid and the narrowest spread between the bid and ask prices.
The following are the extended hours trading windows for Webull:
- 4:00 a.m. – 9:30 a.m. EST
- 4:00 p.m. – 8:00 p.m. EST
There is less liquidity during pre-market and after-hours trading, but day traders and swing traders can profit from the volatility.
During extended hours, you can buy and sell stocks and ETFs, but not options.Webull provisional credit.
Shorting Stocks
Shorting stocks as an alternative to trading options may appeal to active investors with a margin account.
Trading in Paper
Another unique feature that most investing apps do not provide is the ability to simulate trades. You can practice trading stocks and options with “fake money” to enhance your investing skills and try new techniques.
The paper trading tool can benefit both new and seasoned investors.Webull provisional credit.
Desktop Platform
Downloading the Webull desktop platform for Mac and Windows devices can benefit high-frequency traders. A Linux version is also in the works.
You can also invest through Webull’s web-based platform or their mobile app for Android and Apple devices. Each venue offers you access to your Webull trading accounts, but the desktop version allows you to customize them further.
You can add 45 different widgets to your display. Webull also lets you modify the layout and supports several screens for viewing your data. Webull provisional credit.
The use of a desktop platform for complex trading and research offers the advantage of increasing platform stability and speed. Because data lag might affect a trade’s profitability, the desktop platform is worth considering.
App for Mobile
Webull is a mobile-first trading app available for both Android and Apple devices. The app allows you to trade and research stocks. Webull provisional credit. The downloadable desktop software provides the entire user experience, but the mobile app makes it easy to invest.
Cryptocurrency
Crypto trading is now available across all Webull platforms (ios, android, and Web). Get free real-time data for popular cryptocurrencies, including Bitcoin, Ethereum, Bitcoin Cash, and Litecoin. Webull provisional credit.
Trade cryptocurrencies 24 hours a day, seven days a week, with no commission. You can buy and sell fractions of cryptocurrencies for as little as $1.
Tools of Research
Webull offers research tools comparable to those provided by a full-service broker. For example, most free investing apps only provide an initial price quote, a brief company history, and recent news items. Webull provisional credit.
One of the reasons why active investors open a Webull account is because of the comprehensive research tools.
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Tool Belt by Webull
The Webull Toolbelt is a market dashboard that displays a slew of ticker data. For example, the advance/decline line can be quickly viewed to show how many tickers are up for the day and how many are down.
Similar to an investment site, you will notice the stock tickers making significant intraday gains and losses. Webull provisional credit. There’s also a “heat map” to help you spot the best-performing stocks by industry.
An economic calendar will also be displayed, listing upcoming initial public offers (IPOs), dividend ex-dates, and earnings announcements.
Metrics Fundamentals
Third-party research reports, such as those provided by Morningstar Premium, are not available. However, the essential fundamental data will be displayed when conducting in-depth research on a single stock or ETF.
These measures allow you to quickly locate critical financial data, news announcements, analyst ratings, short interest, and options legs.
Most full-service internet brokerages serve fundamental data better than Webull. Webull, on the other hand, outperforms other free apps in terms of balancing fundamental and technical analysis tools. Webull provisional credit.
Charting
Webull provides a wide range of research options for technical traders looking to make day or swing trades. Even fundamental investors may utilize a technical chart to avoid investing rash investments.
There are over 50 technical indicators and 12 charting tools to choose from. If you presently trade on Robinhood, Webull offers far more indicators and charting tools. Webull provisional credit.
The settings and colors of the technical indicators can be changed. For example, a 50-day, 100-day, and 200-day simple moving average will typically be assigned a different color by most traders.
Among the other possible indicators are:
- Index of relative strength (RSI)
- Explicit moving average (EMA)
- Bands of Bollinger
- SAR with a parabola
- MACD (Moving Average Convergence (Moving Average Convergence Divergence)
On the Web, mobile, and desktop platforms, you can view chart bars in one-minute intervals. The desktop version can offer the most indicators at once, but charting on cloud-based systems is more than enough for most investors.
These technical tools outperform the majority of free stock screeners. But, of course, if you’re a frequent trader, you might want to employ a premium stock screening tool. Webull provisional credit. Then you can take advantage of Webull’s free trades and longer trading hours.
To be sure, Webull’s charting tool can be challenging to use at first for inexperienced investors. However, after running a few charts, you will browse the toolbars and interactive charts.
Open an Account at WebullAdvanced Quote Data at Level II
Securing the optimal entry and exit prices is critical to short-term trading success. Webull provisional credit. Knowing the price at which other investors are willing to buy or sell their stake, on the other hand, can help you spot a trend.
Webull and other investing apps, by default, provide real-time Level I quotation data. So, for example, you may check the most recent sale price to buy (bid price) or sell (ask price) stock (ask price).
Webull provisional credit. Level II quote data displays the highest bid price (the maximum price a buyer is willing to pay) and the lowest ask price (the least a seller is willing to accept).
Weibull displays Level II advanced quote details for the New York Stock Exchange (NYSE), NYSE American, and Nasdaq exchanges using Nasdaq TotalView. A monthly subscription costs $1.99. However, the first three months are accessible for new WeBull members.
The Net Order Imbalance Indicator is also available as part of your TotalView subscription (NOII). This statistic aids in the calculation of Nasdaq ticker opening and closing prices.
If you want to buy shares of Hong Kong-listed ADRs, Hong Kong Level II data is also available. Level I data is used in all other international markets.
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Stock Screener
There is an adequate stock screener and the ability to make a watchlist to locate promising stocks. Webull provisional credit.
Stocks can be filtered using the following criteria:
- The region consists of the United States, Canada, and China.
- NYSE, Nasdaq, and other stock exchanges
- Transportation, mining, energy, and other industries are examples of industry sectors.
- Quotes indicator: market capitalization, share price, volume, percent change, and so on.
- Earnings per share, dividend yield, debt-to-asset ratio, and other financial indicators
- MACD golden cross, RSI oversold, and other technical indicators
- Analyst recommendations include: strong buy, buy, hold, underperform, and sell.
- It is also possible to screen stocks for margin trades.
Notably, you will not find the premade screener themes that certain brokerages provide. Webull provisional credit. The screener is easy to use; however, having particular standards to research concepts is beneficial.
What exactly is a trailing stop?
A sell trailing stop order establishes the stop price at a specified amount below the market price, with a “trailing” amount attached. Webull provisional credit when the market price rises, the stop price rises by the trailing amount; however, if the stock price falls, the stop-loss price remains unchanged, and a market order is filed when the stop price is met.
How to Configure a Trailing Stop in the Webull Application.
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Bots Live Trading Room provides a lot of data with each stock pick: a profit target, a stop-loss, and a time for staying in the trade. So there is no reason for speculation.
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Open an Account at Bots Live Trading RoomCustomer Service
Webull will not be recognized for having the most satisfactory customer service. Nonetheless, it’s on par with other free investing apps. Webull provisional credit. The in-app support button is the best way to seek help. You can also get instant help by dialing a toll-free number, but wait times can be significant.
There is email help and an online FAQs area for non-urgent questions.
Consider choosing a full-service online broker like Ally Invest if you want excellent customer service.
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Is Webull safe?
Webull provisional credit, Webull is as safe as other investing apps, minus the regular market risk of investing in stocks, ETFs, and options. SIPC Insurance covers your brokerage account up to $500,000, including $250,000 for cash assets. If Webull goes out of business, this policy protects your liquid assets.
Some investors are concerned because Webull’s parent firm, Fumi Technology, is based in China. Webull, on the other hand, maintains corporate offices in New York.
Is Webull Worth It?
Many investors will find Webull to be a solid investment. However, if you’re still undecided, here’s a quick overview to help you decide whether or not to utilize Webull. Webull provisional credit.
Who Should Make Use of Webull?
Webull is an attractive choice for active investors that trade stocks and options using technical analysis and charting. Webull provisional credit, You can change during regular market hours as well as extended hours.
Long-term investors who wish to buy stocks and ETFs can benefit from Webull’s comprehensive research tools as well as the lack of trade commissions.
Who Should Stay Away From Webull?
Inexperienced investors and those looking for a managed portfolio might think about employing a Robo-advisor like Betterment.
You may also wish to use a different brokerage, Webull provisional credit, if you want to access mutual funds, individual bonds, or use a platform that offers investing and banking services.
Possibilities and drawbacks
Pros
- There are no trading fees for stocks, ETFs, or options.
- Trading after hours
- Tools for technical analysis and charting
- Paper money trading simulator
- There is no minimum initial deposit required for taxable or IRA accounts.
Cons
- There is no alternative for “hands-off” investors to use a robo-advisor.
- Customer service is limited.
- There is no fractional investing.
- Some premium features are not free.
Summary
Webull is an intriguing free investing app that can be used for both short-term and long-term investing. In addition, sophisticated research tools compete with the most significant internet brokers. Webull provisional credit.
If you’re comfortable managing your investments, you can open taxable and retirement accounts, as well as receive one free stock.
