Webull Review 2020

Before the broker price wars in September of 2019, Webull would have been a viable option for new investors seeking $0 trades. However, now that full-service brokerages such as TD Ameritrade offer $0 trades, Webull doesn't offer nearly enough value to justify signing up.

Top Takeaways for 2020

After testing Webull, here are our findings:

• Although Webull is easy to use, it trails the best online brokers in all categories, especially research and education. Third-party research reports are not available, and there is minimal education for new investors.
• Webull's mobile app is well-designed and easy to use. The app offers more features than Robinhood, but can't compete with the trading tools and mobile trading apps offered by brokers such as TradeStation and TD Ameritrade.
• Like most of the industry, Webull offers $0 trades on stocks and ETFs. Webull also provides $0 option trades. With $0 trades, Webull makes money off of payment for order flow, transfer fees, account interest, and margin rates.
• Advanced traders will have to pay a monthly fee to upgrade from last sale data to level-1 or level-2 data. Webull does not currently offer mutual funds, bonds, or futures trading. Day traders can get better margin rates and trading capabilities at Interactive Brokers.
• Webull does offer some unique features such as replaying videos of stock chart movement from the previous day and Webull points. Ultimately, those features aren't enough to help Webull compete with the best stock trading apps.

Overall Summary

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