Webull Real-time Option Quotes

Webull Real-time Option Quotes

Webull, one of the newest online brokers, was founded in 2017 and launched with a mobile app only in May 2018. This mobile first launch was reflective of Webull’s most important target market: millennials. Webull is positioning itself as a platform that can serve active traders and other people who are drawn to a platform that offers a wide range of services at no cost, including commission-free trading of stocks/ETFs or their options and multiple cryptocurrencies. Webull is more geared towards self-directed investors and offers a smaller range of services than its full-service competitors. That said, Webull customers get a lot of bang without the buck: a nice platform with a wide range of helpful tools and features, along with competitive margin rates. We will take a detailed look at Webull in order to help you determine if it is the right broker.

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 for people looking for a broader range of products, such as fixed income, mutual funds, or managed accounts. If you are looking for live trading assistance and prefer to work with an investment advisor, then look elsewhere.
  • Fractional cryptocurrency trading in multiple cryptocurrencies, including Bitcoin, Dodgecoin, Bitcoin Cash, Ethereum, Litecoin, ZEC, and XLM commission free.

Who Webull Is For

Webull is an investment platform that allows investors to trade without commissions and open up new avenues for trading. Webull isn’t a full-service broker. Its customers require a DIY approach to 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
  • No minimums or fees, easy account setup
  • Free real-time streaming quotes
  • Simple to use platforms that provide excellent content and tools
  • Access to extended hours and pre-market trading

Cons

  • Excess cash does not earn you any income
  • Potential give up on execution due to payment for order flow (PFOF)
  • 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. Trading strategies are easier to profit from because they have lower implementation costs.
  • 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. The service is Nasdaq TotalView, and it provides a greater depth of bids and asks on a security as well as information showing market depth. There is also auction crossing information for all NASDAQ-NYSE and regional listed stocks on NASDAQ Market Center.
  • Webull’s desktop and mobile application platforms are relatively new, so it has a fresh, intuitive design and is easy to use. The applications are packed with helpful tools for trading, especially considering all the tools are free to the user. The customizable workstation platform provides news, fundamental information on companies, and has watchlists, a stock screener, charting, and aggregate ratings from multiple analysts. Despite the information density, all of this is set up to work effectively in a streamlined way.
  • 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

  • Webull customers receive no interest on cash balances in their account. 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 is able to offer free trading and all its other services because it is receiving 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.
  • While Webull provides a lot of helpful tools for traders on its platform, the portfolio management tools are lacking. Customers of Webull are expected to be able to make their own trading and investing decisions. There are no intra-day or daily market letters and no analyst reports or research on stocks other than aggregated analyst statistics. Webull does NOT offer financial advisors, recommend portfolios for rebalancing, control over 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.
  • Webull offers a wide range of stock, ETFs and options, as well as cryptocurrencies. Webull does not offer fixed income investments, mutual funds or international equities, options, or foreign currency offerings. You get what you see.

Useability

Webull is simple to use with intuitive navigation. Webull has a website, a desktop workstation, and a mobile app that are all similarly well designed. Because they were built so recently, the platforms have a modern look.

The desktop workstation and website are nearly identical, with the same menu and window setup that focuses on a primary set of buttons down the left side of the screen. These buttons allow you to launch customizable quote boards. A stock page that provides a wealth information about a single stock, ETF or stock, as well as a market overview page and stock screener. An account tab shows balances, positions and buying power. You can also access bank transfers to and from your account. There is also a dedicated paper trading area. The website has some differences from the workstation. It only supports single-leg options.

Although the mobile app has the same primary features as the website and workstation websites, there are design differences that allow for smaller screens. 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. You don’t have to create watchlists on different platforms. Watchlists are also consistent across all platforms, including the web, mobile, and desktop. Order entry is straightforward, and traders can even customize trading ticket information such as order type and share amounts they most commonly use.

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. Each widget contains different information such as news, basics, options, order entry, sales, time, and so forth. To save screen space, the widgets can be combined. The different widgets are accessible via marked tabs at top of the window. Widget windows can also be grouped together so a stock entered in one of the widgets will automatically update in the other widgets in the group.

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. The most flexibility and customization is available on the 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. You can add the order screen to other screens. The stock order entry screen also includes contingency orders that allow for profit taking and stop loss levels. You can also create order tickets directly from the account holdings, and clicking on the bid or offer of a market will automatically enter that information into the trade order widget. Trading was also available directly from the charting program, with active positions and orders clearly shown on the chart.

Mobile Trade Experience

As mentioned, although there are some minor differences between the website and the workstation, there is a basic consistency across all the platforms. Although the mobile app offers the same basic features of the website and the workstation, there are some design differences that allow for smaller screens. Menu buttons adapt along with the content screen you are on, serving up the main functions that you are likely to need. Mobile’s charting also shows your open positions and allows trading directly from the chart. Webull’s drawing tools are also much easier than many other brokers’ mobile charting software. The mobile app doesn’t allow access to Webull’s stock screener, but you can convert search results done on the website or workstation into a watchlist that will sync to the mobile app.

Range of Offerings

Webull focuses on U.S. Stock and ETF trading, and U.S. listed options and offers only personal and IRA accounts in 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. Investors using Webull can trade the following:

  • US Stocks/ETFs, long and short (2,0005 stocks) are currently listed on Webull’s easy-to-borrow list for short sales
  • Stocks and ETFs Listed in the USA
  • Cryptocurrency trading in Bitcoin, Dodgecoin, Bitcoin Cash, Ethereum, Litecoin, 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.

Order Types

Webull offers the most commonly used order types, including market, limit, stop, stop limit, and trailing stops. 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 does not offer traders the ability to control tax lots for sales to close long stock positions. Instead, they use the first in and first out (FIFO), methodology. Webull also lacks automated trading, backtesting of strategies, and the ability to stage 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. There is no smart order routing, no trading automation, no backtesting capabilities, and no way to route your own orders. That said, this is in keeping with the broker’s bare bones approach to keep costs down.

Prices

Webull is not a low-cost broker but a free broker. They offer commission-free trading in stocks, ETFs and listed options. There is no fee for minimum account requirements or access to their powerful platforms and tools. Webull’s margin rates are also competitive. When we talk about commission free trading, that means Webull does not charge for trades, but they do pass through Securities and Exchange Commission (SEC) transaction fees and various exchange and regulatory fees, which are typically pennies or fractional pennies per contract. These are Webull’s costs:

  • No commissions for online trades in equities, ETFs, or OTCBB trades
  • No commissions on exchange traded options
  • There is no commission for 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: No charge for ACH Deposits and withdrawals; Wire Transfers are $8 for deposits in the US and $12.5 if international, and $25 for withdrawals in the US and $40 if international
  • 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 receives an average of $0.00024 per share for its order flow, and an average of $0.525 per options contract; Webull’s price execution improvement averages are $0.0056 per share, 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. When you have cash in your account, the interest generated by Webull is kept by Webull.
  • Stock Lending Program: Webull offers a stock lending program. The investor who lends the securities shares the revenue. The interest paid through the lending program depends entirely on the market demand for your securities.

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. Webull doesn’t offer the same tools and information as full-service brokers such as individual analyst reports, daily market reports, or portfolio analysis tools.

Stock Screener

Webull offers a stock screener. It is available on the website and at the workstation, but not in 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. You can choose to filter the U.S. exchanges (NYSE, AMEX and NASDAQ) and you can filter by more that 25 industry sectors, financial data such as EPS and P/E, Dividends and nine pre-set technical indicators, including overbought/oversold, moving average crosses, and overbought/oversold.

The technical indicators are easy to use, but somewhat limited. We could not screen for stocks that moved beyond 200. Additional filters include a consensus analyst rating of five grades (strong buy/buy, hold/underperform, sell), and whether the stock can be traded with margin. Stocks cannot be screened for SRI (socially responsible investing). 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 does not offer fixed income on their platform.

Charting

Webull built 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. Order tickets and alerts can be created directly from charts, and analysis like Bollinger Bands(r), moving and exponential moving averages (MA/EMA), relative strength index (RSI), average trading range (ATR), multiple stochastics variations, and other commonly used analysis can be easily added to a chart. It seems strange that the 50, 100, and 200-period MAs were not included in the six defaults.

If you have heard about Webull before, it is the new web based trading system that has just 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 Java-based software platform used for desktop trading platforms is the basis of the webull trading app. The webull platform provides access to stock and option prices in real-time, as well as fundamental data such market depth, price, volume and price. The webull desktop trading platform is designed for both iOS and android devices and comes loaded with over one million product images and a large variety of media files. First, download the free trial web edition and then install the webull trading app on your phone. In less than five minutes you are all set and ready to trade from anywhere in the world!

 

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 thing about trades is their ability to be customized. Trades can be customized to allow traders to set investment limits, strike amounts, and stop loss types. This allows them to set custom or automatic limits at the time they feel the investment is at risk.

 

Trading with webull requires a minimum deposit of just $500, and the maximum 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. We can tell them that webull allows investors to conduct 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. Additionally, trading with webull will allow you to set a limit to the amount of money you are willing to spend or lose, thereby providing you more control and accountability for the money you are investing.

 

Another reason why webull is superior to other systems is that the webull financial trading platform provides investors with real-time protection from third parties. Webull’s counterparty protection feature makes it impossible for anyone to modify, change, or close your accounts except the authorized user. Therefore, webull provides you with true asset protection, which is much better than any system that does not provide this type of protection. We can also tell investors that by using webull, they will not be legally obligated to pay taxes on the gains from their investments in the U.S., as webull contracts and investment deals are not considered income for the taxable year.

 

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. For instance, some brokers provide webull trading as a free service to their clients. Some webull brokers may charge a small fee for this service. Regardless, webull is an excellent product for all investors, both large and small, because of 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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  • Webull Real Time Option Quotes

    Webull Real Time Option Quotes

    Webull is one of the newer online brokers, forming in just 2017 and launching with just a mobile app in May 2018. Webull’s primary target market, the millennials, was reflected in this mobile launch. Webull is positioning itself as a platform that can serve active traders and other people who are drawn to a platform that offers a wide range of services at no cost, including commission-free trading of stocks/ETFs or their options and multiple cryptocurrencies. Webull is more geared towards self-directed investors and offers a smaller range of services than its 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 will take a detailed look at Webull in order to help you determine if it is the right broker.

    Webull was Investopedia’s winner for Best Broker for Low-Cost Options Trading, Best Low-Cost 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 for accounts with a minimum of $2000.
    • 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 easy to use, providing good trading functionality and a broad package of tools and functionality including news, fundamental and technical 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 in multiple cryptocurrencies, including Bitcoin, Dodgecoin, Bitcoin Cash, Ethereum, Litecoin, ZEC, and XLM commission free.

    Who Webull Is For

    Webull is for investors who want to get into financial markets with no minimum account sizes and commission free trading. Webull is not a full-services broker, so its customers need a bit of a DIY approach on some aspects of portfolio management. Customers at Webull are generally younger than customers at other brokerage firms. Active traders will be attracted to the broker’s free model. 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
    • No minimums or fees, easy account setup
    • 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

    • No income on excess cash
    • Potential give up on execution due to payment for order flow (PFOF)
    • Portfolio management tools are limited in number
    • No access to fixed income, mutual funds, foreign exchange, or futures markets

    Pros Explained

    • Everyone wants something for free, and that is exactly what Webull delivers. 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. It takes only a few minutes to get approval for account and options trading. You can also add your bank account or set up an ACH transfer free of charge in a matter of minutes. 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. There is also auction crossing information for all NASDAQ-NYSE and regional listed stocks on NASDAQ Market Center.
    • Webull’s mobile and desktop applications platforms are both relatively new. It has an intuitive design, is simple to use, and it is fresh. The applications are packed with helpful tools for trading, especially considering all the tools are free to the user. The customizable workstation platform provides news, fundamental information on companies, and has watchlists, a stock screener, charting, and aggregate ratings from multiple analysts. Despite all the information, it is organized in a way that makes it easy to use.
    • Webull customers have access to these hours, which is a popular choice for active traders who trade the market during the pre- and/or extended trading hours. Traders have the option to make their orders available during non-regular trading hours.

    The Cons

    • 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. In today’s low short-term interest rates, this may not seem to be a problem. However, the potential loss of interest on cash could be more apparent if rates rise.
    • Webull is able to offer free trading and all its other services because it is receiving payment for order flow (PFOF). This may affect Webull’s 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.
    • While Webull provides a lot of helpful tools for traders on its platform, the portfolio management tools are lacking. Customers of Webull are expected to be able to make their own trading and investing 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, recommend portfolios for rebalancing, control over tax lots on sales or offer a dividend-reinvestment program (DRIP). Currently, Webull doesn’t offer fractional equity shares, although the broker has expressed that they plan to add fractional stock shares soon.
    • 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. You get what you see.

    Usability

    Webull is simple to use with intuitive navigation. Webull has a website, a desktop workstation, and a mobile app that are all similarly well designed. The platforms share a modern look and feel because of having been built so recently.

    The desktop workstation and website are nearly identical, with the same menu and window setup that focuses on a primary set of buttons down the left side of the 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.

    Although the mobile app has the same primary features as the website and workstation websites, there are design differences that allow for smaller screens. The menu buttons on the bottom of the app screen change to be relevant to the content shown at the time. For example, an options button appears as a choice at the bottom of the stock screen showing an individual stock/ETF.

    Watchlists can be easily created across all platforms directly from stock screener results. You don’t have to create watchlists on different platforms. Watchlists are also consistent across all platforms, including the web, mobile, and desktop. 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.

    The trading setup also allows for a highly customized user experience, including hot keys, home page loaded on startup, default stock and option orders, and frequently used share quantities. You can do the most customization and flexibility on your workstation. The website did not have all of the trading page templates available on the workstation, and the learning center was not accessible from 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. You can also create order tickets directly from the account holdings, and clicking on the bid or offer of a market will automatically enter that information into the trade order widget. Trading was also possible directly from the charting program. The chart shows active positions and orders.

    Mobile Trade Experience

    As mentioned, although there are some minor differences between the website and the workstation, there is a basic consistency across all the platforms. The mobile app has the same basic features as the website and workstation, but there are design differences to handle the smaller screens. Menu buttons adapt along with the content screen you are on, serving up the main functions that you are likely to need. Mobile’s charting also shows your open positions and allows trading directly from the chart. Webull’s drawing tools were also easier to use than the mobile charting software of many other brokers. The mobile app doesn’t allow access to Webull’s stock screener, but you can convert search results done on the website or workstation into a watchlist that will sync to the mobile app.

    A wide range of offerings

    Webull focuses on U.S. Stock and ETF trading, and U.S. listed options and offers only personal and IRA accounts in 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. Unlike many of the full service brokers, Webull offers trading in multiple cryptocurrencies for as little as $1. There is no fixed income, mutual fund, futures, or traditional foreign exchange trading available. Webull investors can trade the following:

    • US Stocks/ETFs, long and short (2,0005 stocks) are currently listed on Webull’s easy-to-borrow list for short sales
    • Stocks and ETFs Listed in the USA
    • Cryptocurrency trading in Bitcoin, Dodgecoin, Bitcoin Cash, Ethereum, Litecoin, 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.

    Order Types

    Webull offers the most commonly used order types, including market, limit, stop, stop limit, and trailing stops. 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 does not offer traders the ability to control tax lots for sales to close long stock positions. Instead, they use the first in and first out (FIFO), methodology. Webull does not offer automated trading, backtesting strategies or the ability to place orders.

    Trade Technology

    Webull’s trading technology is basic, although it does get the job done. Webull reports net price improvement of 0.0056 a share and $1 per options contract. There is no smart order routing, no trading automation, no backtesting capabilities, and no way to route your own orders. This is in line with the broker’s basic approach to keeping costs low.

    Costs

    Webull is not a low-cost broker but a free broker. They offer commission-free trading in stocks, ETFs and listed options. There is no fee for minimum account requirements or access to their powerful 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. These are Webull’s costs:

    • 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. Breakpoint: Below $25K 6.99%, $100K 6.49%, $250K 5.99%, $500K 5.49% and $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 offers a stock lending program. The investor who lends the securities shares the revenue. The market demand for your securities determines the interest rate.

    Account and Research Amenities

    Webull offers a broad array of account information and research amenities, including fundamental data, news, and charting to help traders make informed investment decisions and 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 offers a stock screener. It is available on the website and at the workstation, but not in 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. Only the United States, China and Canada can be selected; Webull offers data and charts for US, Honk Kong and Canada markets. However, U.S. account holders have limited access to trading in U.S. market 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. Additional filters include a consensus analyst rating of five grades (strong buy/buy, hold/underperform, sell), and whether the stock can be traded with margin. Stocks can’t be screened for socially responsible investing (SRI). You can save a customized search and convert it to a watchlist. Choosing any of the stocks on the search results provides key statistics and financial information and an order window for that stock on the same page.

    ETF and Mutual Fund Screener

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

    Options Screener

    Webull does not have a screener to identify specific option trade opportunities, but they do have tools to help construct the most common one, two, and four leg option strategies (vertical spreads, straddles/strangles, butterflies/condors, etc.) using a drop-down menu on the option chain table to select the strategy. You can then bring up the payout graph at maturity for the strategy, and use tools to further customize the strategy through different order types or adjusting the width between strike prices in multi-leg strategies.

    Fixed Income Screener

    Webull does not offer fixed income on 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. Order tickets and alerts can be created directly from charts, and analysis like Bollinger Bands(r), moving and exponential moving averages (MA/EMA), relative strength index (RSI), average trading range (ATR), multiple stochastics variations, and other commonly used analysis can be easily added to a chart. It seems strange that the 50, 100, and 200-period MAs were not included in the six defaults.

    Webull is a new web-based trading platform that has made waves in the Forex market. Fumi Technology, a Chinese online holding company, operates Webull. It allows clients to buy and sell a variety of virtual assets such as shares, ETFs and derivatives as well as commodities like gold, dogecoin, and shiba coin. It also offers trade alerts and market commentary from industry experts, so that traders can be assured of their investment decisions. Investors will need to open a demo account to see how the system works and determine if it is suitable for them.

     

    The Java-based software platform used for desktop trading platforms is the basis of the webull trading app. 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. In less than five minutes you are all set and ready to trade from anywhere in the world!

     

    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 sophisticated algorithms and mathematical algorithms to detect good opportunities and prevent losses by analyzing market signals and actions. For example, once the app identifies that the peak volume for a given security may be on the rise, it immediately alerts traders so that they can take action before the price starts to move. The best part is that all trades are fully customizable. Trades can be customized to allow traders to set investment limits, strike amounts, and stop loss types. This allows them to set custom or automatic limits at the time they feel the investment is at 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 have asked us why webull is better than traditional trading platforms. We can tell them that webull allows investors to conduct 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. Webull offers true asset protection. This is far better than any other system that doesn’t offer this level 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. Webull can also be used by investors for their custom trading needs. For instance, some brokers provide webull trading as a free 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. Because there are no commissions or fees to pay, the investor has complete control over how much he/she trades. Overall, it is hard to beat webull.

     

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