Does Webull Have 5 Min Chart

Does Webull Have 5 Min Chart

Webull, one of the newest online brokers, was founded in 2017 and launched with a mobile app only in May 2018. Webull’s primary target market, the millennials, was reflected in this mobile launch. Webull is positioning itself to serve newer and more active traders, and others drawn to a platform offering a broad range of services for free, including no account minimums, commission free trading of stocks/ETFs and their options, and multiple cryptocurrencies. Webull does skew towards the self-directed investor, with a less comprehensive offering than full service competitors. Webull customers still get a lot for their money. Webull offers a great platform with many useful tools and features as well as competitive margin rates. We’ll take an in-depth look at Webull to help you decide if it is the right broker for your portfolio needs.

Webull won Investopedia’s Best Broker for Low Cost Options Trading, Best Day Trading Platform and Best Low Cost Options Broker in our 2021 Best Online Brokers Review.

KEY TAKEAWAYS

  • Webull does not charge commissions for stock, ETF or option trades. There are no minimum account requirements. Margin trading is available to accounts of $2000 and higher.
  • Webull offers stocks, ETFs, options, and cryptocurrencies. This is a smaller selection of assets that Webull offers to better serve younger customers who are more tech-savvy and want information on the move.
  • Webull is simple to use and offers excellent trading functionality. It also has a wide range of tools and functionality, including news and fundamental analysis and stock screeners.
  • Webull is not the broker that people should use if they are looking for more products such as managed accounts, mutual funds, fixed income, and mutual funds. Investors who prefer working with an investment advisor and want access to live trading assistance should look elsewhere.
  • Fractional cryptocurrency trading is possible in multiple cryptocurrencies including Bitcoin, Dodgecoin and Bitcoin Cash.

Who Webull Is For

Webull is an investment platform that allows investors to trade without commissions and open up new avenues for trading. Webull is not a full-services broker, so its customers need a bit of a DIY approach on some aspects of portfolio management. Webull customers have skewed younger than at other brokerage companies. The broker’s no cost model will also appeal to active traders. Webull’s no-cost options trading will be particularly appealing to active traders. This is because all other brokers, including those that offer free stock and ETF trades such as Schwab, still charge commissions for each leg.

Pros

  • No commissions on stocks/ETFs, options, or cryptocurrencies
  • Easy account setup and options approval, and no fees or minimums
  • Free real-time streaming quotes
  • Easy to use platforms with excellent content and tools
  • Access to trading hours that are extended and pre-market

Cons

  • Excess cash does not earn you any income
  • Potential for execution to be halted by payment of order flow
  • Portfolio management tools are limited in number
  • Access to fixed income, mutual funds or foreign exchange is not available.

Pros Explained

  • Webull offers something free of charge. No commission stock, ETF, option, and cryptocurrency trading is particularly appealing to traders that don’t need their hands held. Lower implementation costs makes it easier for traders to profit off a trading strategy.
  • It takes only a few minutes to open an account. You will receive account and options trading approval very quickly and it only takes a couple of additional minutes to add your bank account and set up a free ACH transfer. Once the transfer is set up, you can receive buying power on the account even though the fund transfer may not be complete for a few days.
  • Webull provides free streaming quotes and three-month free access to Level 2 Advance quotes. This service is Nasdaq TotalView and provides more information about market depth as well as a deeper range of bids and questions on security. You can also find auction crossing information for all NASDAQ NYSE stocks and regionally listed stocks on NASDAQ Marketplace Center.
  • Webull’s desktop and mobile application platforms are relatively new, so it has a fresh, intuitive design and is easy to use. All the tools available are free and packed with useful tools to trade. You can access news and fundamental information about companies through the customizable workstation platform. Charting is available, as well as watchlists, stock screeners, charts, aggregate ratings and aggregate ratings from multiple analyst. Despite all the information, it is organized in a way that makes it easy to use.
  • Many active traders like to trade the market in the pre and/or extended hour trading periods, and Webull customers have the ability to access these hours. Traders can choose whether they want their orders active during the non-regular trading day times.

Cons Explained

  • Customers of Webull do not receive interest on any cash balances. Webull does not support mutual fund trading so customers cannot proactively invest any cash in a money-market fund. This may not be too much of an issue in today’s ultra-low short term interest rate environment, but the lost opportunity for generating interest on excess cash might be more noticeable if rates move higher.
  • Webull can offer trading and all other services for free because it receives payment for order flow (PFOF). This fact may reduce Webull’s price execution quality. The speed and precision that orders are generally filled at today somewhat lessens this as a significant issue for most traders, but day traders and those using other strategies highly dependent on execution quality may be at a disadvantage.
  • Webull offers a number of useful tools for traders, but the portfolio management tools are not as good. Webull customers are expected to be self-sufficient in making their own investing/trading decisions. There are no daily or intra-day market letters, and no research or analyst reports on stocks outside of aggregated analyst statistics. Webull does not offer financial advisors, recommended portfolios for rebalancing, control of tax lots on sales, or offer a dividend reinvestment program (DRIP). Webull currently doesn’t offer fractional shares. However, the broker stated that they are working on adding fractional stock shares.
  • Stocks, ETFs, options and cryptocurrencies make up the entire menu at Webull. There are no fixed income investments, mutual funds, international equities, futures, or foreign exchange offerings at Webull. What you see is what you get.

Useability

Webull is easy to use, with clean and intuitive navigation. Webull offers a website, desktop workstation and mobile app. They are all well-designed. The platforms share a modern look and feel because of having been built so recently.

The website and desktop workstation are almost identical. They share the same menu and window layout. This main set of buttons is located on the left side of your screen. These buttons launch customizable quote boards, a stock page with a wealth of information on a single stock or ETF, a broad market overview page, a stock screener, a trading screen that is highly customizable on the desktop platform, an account tab showing balances, positions, buying power, performance, risk level related to margin leverage, access to bank transfers into and out of the account, and a dedicated paper trading area. There are some minor differences between the website and the workstation, and the website only supports single leg options.

The mobile app uses primary features in a way consistent with the website and workstation, but there are design differences to handle the smaller screens the app is used on. The menu buttons on the bottom of the app screen change to be relevant to the content shown at the time. An example of this is the options button, which appears at the bottom to show an individual stock/ETF.

Watchlists can be easily created across all platforms directly from stock screener results. Watchlists also remain consistent between the desktop, web, mobile app, so you don’t need to set these up on multiple platforms. It’s easy to order and traders can customize the trading ticket information, such as share amounts and order type.

Trade Experience

Webull’s workstation is highly customizable, with templates available for trading stocks and ETFs, options trading, day trading, and for cryptocurrency trading. Traders can switch between these different template pages, and can build their own page layouts from scratch through widgets. The widgets contain different information, such as news, fundamentals, options, as well as order entry, time & sales, and so on. The widgets can be combined to save screen space, with the different widgets accessible through marked tabs at the top of the window. You can group widget windows together to ensure that stock entries in one widget will update in all other widgets.

Trading setups allow for highly customizable user experiences, such as hot keys, home page loaded at startup, default stock, option orders and commonly used share quantities. You can do the most customization and flexibility on your workstation. Website did not include all the templates for trading pages on the workstation. The learning center was also not accessible via the website. When necessary, the system will direct you to other pages, such as the stocks window, which allows you to view stock-specific information, news and charting.

Webull makes it easy to place an order. The order screen can be added to different screens, and the stock order entry screen includes contingency orders for stop loss and/or profit taking levels. Order tickets can be created directly from your account holdings. Simply click on the market bid or offer to automatically add that information to the trade order widget. Trading was also possible directly from the charting program. The chart shows active positions and orders.

Mobile Trade Experience

Although there are minor differences between the workstation and the website, there is an overall consistency across all platforms. The mobile app has the same basic features as the website and workstation, but there are design differences to handle the smaller screens. The menu buttons adjust to the content screen, so you can access the most important functions you need. Mobile charting allows you to trade directly from the chart and shows you your open positions. Webull’s drawing tools are also much easier than many other brokers’ mobile charting software. Although the Webull stock screener is not available on the mobile app, you can convert search results from the website or at work into a watchlist which will be synced to the app.

A wide range of offerings

Webull focuses exclusively on U.S. Stock, ETF and U.S.-listed options. Webull offers only personal and IRA accounts within the United States. Although Webull’s product offerings are not as extensive as full-service brokers, they can meet the needs for younger customers who are less interested in fixed income. Webull allows trading in multiple cryptocurrency for as low as $1, which is a departure from many full-service brokers. There is no fixed income, mutual fund, futures, or traditional foreign exchange trading available. Webull investors can trade the following:

  • US listed Stocks/ETFs long and short (2,085 stocks are currently on Webull’s easy to borrow list for short sales
  • Stocks and ETFs Listed in the USA
  • Cryptocurrency trading with Bitcoin, Dodgecoin and Bitcoin Cash, Ethereum, Litecoins, ZEC, and XLM
  • Notable: Although New York State is the only US state to not have approved cryptocurrency trading on Webull yet, the company anticipates that it will soon be approved.

Types of Order

Webull offers most of the most popular order types such as market, limit and stop, stop limit, stop limit, trailing stops, and stop limit. There are also specialty orders such as one-cancel-the-other (OCO), one-triggers-an-OCO (OTOCO), and one-triggers-the-other (OTO), allowing traders to setup a conditional order where a filled limit order establishes an OCO attaching both a stop loss and a profit taking level order once the initial position is established. Webull does NOT offer market-if touched, market on-close, or similar orders.

Webull doesn’t offer traders control over tax lots on sales to close a long stock position; they use the first in, first out (FIFO) methodology. Webull does not offer automated trading, backtesting strategies or the ability to place orders.

Trade Technology

Although Webull’s trading technology may be basic, it can get the job done. Webull reports net price improvement of 0.0056 a share and $1 per options contract. No smart order routing, trading automation, backtesting, or route control are available. This is in line with the broker’s basic approach to keeping costs low.

Prices

Webull is not a low-cost broker but a free broker. They offer commission free trading in stocks, ETFs, and listed options, and they do not charge a fee for account minimums or for their robust platforms and tools. Webull’s margin rates are also competitive. Webull’s commission-free trading means that we don’t charge for trades. However, they must pay Securities and Exchange Commission (SEC), transaction fees and other regulatory fees. These fees are usually pennies to fractional pennies per contract. Webull’s costs are as follows:

  • Online trades in equities or ETFs are free of commissions
  • No commissions on exchange traded options
  • No commission on cryptocurrency trading
  • Margin is available for both leverage and short sales, and margin rates are based on account size. By breakpoint: Under $25K 6.99%; $100K 6.49%; $250K 5.99%; $500K 5.49%; $1MM 4.99%; $3MM 4.49%; and >$3MM 3.99%
  • Money transfers: There is no charge for ACH deposits and withdrawals. Wire Transfers cost $8 for US deposits and $12.5 if you are international. $25 for withdrawals within the US, and $25 for international withdrawals.
  • Paper statements charges: Confirmations are $2 per confirm, account statements $5 per statement, and prospectus fees $2.5 per mailing

How this broker makes money for you and from you

It has become harder to understand how brokerage firms generate revenue in the age of no commission trading. Webull is unabashed in telling investors how they make money that allows them to provide a sophisticated platform and zero fee trading.

  • Payment from Order Flow: Webull clearly wants to be the first to offer no commission trading. Options are now free to trade on Webull. Webull’s pricing page is very clear and states that PFOF is the reason they are able to offer no commission trading. Webull gets an average $0.00024 per share from its order flow and $0.525 per option contract. Webull’s average price execution improvements are $0.0056 per shares and $1 per option contract.
  • Interest on Cash: Another important revenue stream for Webull is its ability to generate income from cash in its traders’ accounts, as the company does not pay interest on cash balances. Webull keeps the interest earned by Webull if you have cash in your bank account.
  • Stock Lending Program: Webull does offer a stock lending program, sharing the revenue generated with the investor lending the securities. The market demand for your securities determines the interest rate.

Account and Research Amenities

Webull provides a wide range of account information and research facilities, including news and fundamental data. This helps traders make informed investment decisions as well as identify stocks to trade. However, Webull does not provide the types of tools and information available at full-service brokers, such as daily market reports or individual analyst reports or in-depth portfolio analysis tools.

Stock Screener

Webull has a stock screener, available on the workstation and website but not the mobile app. The screener is limited to stocks and is easy enough to use, but it does not offer all the functionality that rival broker screeners offer. You can select from the United States, China, and Canada only; Webull provides data and charting for US, Honk Kong, Canada, China, and India markets, but it appears U.S. account holders are limited to trading in U.S. markets. For the U.S., you can select the exchanges to include (NYSE, AMEX, NASDAQ), and can filter by more than 25 industry sectors, financial information such as EPS, P/E, Dividends, and by nine pre-set technical indicators including overbought/oversold and moving average crosses.

Although the technical indicators are simple to use, they are not very comprehensive. We were unable to screen for stocks above their 200 moving. Other filters available include a consensus analyst rating with five grades (strong buy, buy, hold, underperform, sell) and if the stock can be traded on margin. Stocks can’t be screened for socially responsible investing (SRI). A customized search can be saved and converted to a watchlist. You can choose any stock from the search results to view key financial and technical information, as well as an order window.

ETF and Mutual Fund Screener

Webull doesn’t offer ETF screens and does not offer mutual funds.

Options Screener

Webull doesn’t have a screener that can identify potential option trade opportunities. However, they have tools to help you construct the most popular one, two and four leg options strategies (vertical spreads. Straddles/strangles. Butterflies/condors etc.). using a drop-down menu on the option chain table to select the strategy. The strategy’s payout graph will be displayed at maturity. You can also customize it by choosing different order types and adjusting the strike price ranges in multi-leg strategies.

Fixed Income Screener

Webull doesn’t offer fixed income through their platform.

Charting

Webull developed its own charting functionality and it is a solid offering. Mobile app charting is a bit different than on the web and workstation because of the smaller screen size, but it is very intuitive. Charts can be used to create alerts and order tickets. You can also add analysis such as Bollinger bands(r), moving or exponential moving averages, relative strength index (RSI), average trade range (ATR), multiple stochastics variants, and other commonly-used analysis to your chart. Again, it seems odd that neither the 50, 100, or 200 period MA was included in the set of six defaults in the program.

Webull is a new web-based trading platform that has made waves in the Forex market. Webull, which is operated by Chinese online holding business Fumi Technology, enables clients to purchase and sell an assortment of virtual assets, such as shares, ETFs, derivatives and commodities such as gold, dogecoin and shiba inu coin. You can also get market commentary and trade alerts from industry experts to help you make informed investment decisions. A demo account with the webull trading app is required for investors to get a feel of how the system works and to determine its suitability for their investment goals.

 

The webull trading app is based on the Java-based software platform that is used for desktop trading platforms. The webull platform allows access to real time quotes of stocks and options as well as to fundamental data such as market depth, price and volume. The webull desktop trading platform can be used on both iOS and Android devices. It comes with over 1,000,000 product images and a wide variety of media files. First, download the free trial web edition and then install the webull trading app on your phone. You can trade anywhere in the world in less than five minutes!

 

With webull, traders can buy and sell securities using real money. Webull trading doesn’t require any special knowledge to execute trades. The app uses mathematical algorithms and sophisticated algorithms to identify good opportunities and prevent losses. It analyzes market signals and actions and then makes trades. The app alerts traders immediately if it detects that a security’s peak volume is rising. This allows them to take immediate action before the price moves. The best part is that all trades are fully customizable. This means that traders can set limits on how much they would like to invest, the maximum strike amount, and also what type of stop loss they want to use – a custom, or an automatic, limit set at the time the investor thinks the investment is under risk.

 

Webull requires a minimum deposit to trade. The maximum amount is unlimited. Once investors have created an account with webull, they can start depositing funds into their new account. Traders have the option to either hold a ‘buy or’sell’ option. They can also do transactions using cash or credit card transfers. Credit cards are recommended for smaller investments due to the higher transfer fees.

 

Many people asked us why they should use webull instead of traditional trading platforms. Webull allows investors to do two types of transactions, buying and selling. Traditional trading requires that you wait until the end to complete a transaction. This will be reflected in your profit or loss statement. With webull, you can determine the time when you want to do a transaction, and this will be reflected in your trading Profit and Loss Statement. Trading with webull allows you to set a limit on how much money you are willing and able to lose. This gives you more control over your investments and accountability.

 

Webull’s financial trading platform offers investors real-time protection against third parties. This is another reason why webull is superior than other systems. Because webull has a counterparty protection feature, it is impossible for anyone but the authorized user to modify, change or close your accounts. Therefore, webull provides you with true asset protection, which is much better than any system that does not provide this type of protection. Webull can also inform investors that they are not legally required to pay taxes on gains from investments in the U.S. as webull contracts or investment deals are not considered income.

 

Webull is used by many traders as their main trading platform. However, there are many others who use it for back testing, fundamental tests, margin calls, and transactions. In addition, investors can also use webull for their custom trading needs. Some brokers offer webull trading as an optional service to their clients. This service may be offered by some webull brokers for a small fee. Webull is a great product for investors large and small because of all the benefits it offers.

 

Overall, webull is an excellent platform for new traders, as well as experienced ones, because it provides a low-cost, hands-free, transparent way to trade on the equity market. The investor can decide how much he/she trades because there are no fees or commissions to pay. Overall, it is hard to beat webull.

 

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