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Webull Review

Making investments today has been made easy. You can now trade stocks, options, and crypto using any of the several platforms that are currently available.

webull australia

If you are in search of a trading platform that doesn’t charge any trading fees, look no further than Webull.

Unfortunately Webull is still not available in Australia. A good alternative for trading is eToro.

What is Webull?

Webull is a fintech company founded in May 2017 that offers a trading platform to potential investors. The platform has the edge over many of its competitors as it charges on trading fees. Also, it doesn’t set a base of the minimum initial investment an investor can make.

As it is a relatively new trading platform, it has a limited number of trading options. Nonetheless, Webull has several useful features (we’ll get there in a minute) and tools that make it a good choice. Of the other fintech zero-commission companies, Webull is often compared to Robinhood.

Is Webull safe?

The company is registered under the Financial Industry Regulatory Authority Inc. and licensed to operate in more than 5o states. At the beginning of 2018, Webull earned a Security Exchange Commission registration approval.

Webull is also member of the Securities Investor Protection Corporation.

 Is it available in Australia?

No. Webull is not yet available in Australia. The platform offers services to only residents from the USA, India, Philippines, Malaysia, Japan, China, and Korea. An alternative to Webull is Robinhood but they are also closed to Australian traders.

Sign up process

The signing up process is fully digital and doesn’t require any technical know-how. Webull allows visitors to open accounts through the mobile, desktop, or on the website.

Visit the website, and on the homepage, you’ll see the option to open an account.

On clicking this option, you will be redirected to a page giving you an option of either email sign or phone number sign up.

Depending on the option you prefer, you’ll be required to fill in the details and click on sign up at the end. Some of the information you’ll be asked to provide includes:

  • Your name
  • Birthdate
  • Social security number
  • Email address
  • Contact number
  • Employment information
  • Financial details

After you are done, you can submit your application and wait for the approval. The approval process takes less than a day.


Here are the conditions you must meet to qualify to open an account with Webull:

  • Be aged over 18 years
  • Be a US citizen or permanent resident

Investment amount

Interestingly, Webull doesn’t have a minimum investment amount, which is a great appeal for most investors.

Types of accounts

Webull offers two types of accounts: Individual brokerage and IRA. The individual brokerage account could either be cash or margin accounts. You can open both, but you can’t own two margin or cash simultaneously.

For the IRA account, Webull supports traditional, Roth, and rollover IRA. You can only open one of them, but you’ll need to be open an individual account first.

Investment Options

The mix of investment options available are stocks, options, crypto, and ETFs.

Mobile application

Webull has a mobile application that’s supported on both Android and iOS platforms. The app brings you convenience, as you can manage your portfolio remotely.

Deposit and Withdrawal

There are two options to fund your account i.e. ACH and wire transfer. The withdrawal holding period for the two is 7 days and 1 day, respectively.

It takes 5 business days for a deposit made through ACH to get to APEX, Webull’s clearing firm. For an ACH withdrawal, funds can take anywhere between 1 to 5 business days to arrive.

Note that the withdrawal and deposit account must be the same for ACH. If you withdraw to a different account, it will take 60 days to process your withdrawal. You can withdraw or deposit funds on the website.

Placing orders

Here Webull offers several order types:

  • Stop
  • Limit
  • Stop limit
  • Market
  • Bracket orders

The order time limits available are Good ‘till canceled and Day.

Trading Platform

Webull offers web, mobile, and desktop trading platforms.

The web trading platform has a friendly interface and comes with plenty of advanced features. As such, it fits both beginners and advanced traders. The absence of a two-step log-in, however, is a big letdown.

The mobile and desktop trading platforms are equally great in design and functionality as well. Both are user-friendly and provide the relevant features.


Webull has a lot to offer in the research front. What’s more, research tools are available on all trading platforms. Here you can find several tools that include:

The company offers trading ideas for some stocks in the form of analyst’s opinions for trading or holding assets. You also get fundamental data for Exchange Traded Funds and some stocks.

On the charting section, you have charting tools at your disposal, but we think Webull could improve things here. You get only 20 technical indicators. The news feed is generally good. In addition, Webull provides real-time market data and stock screener.

Customer Support

In case of any inquiries, you can reach customer support. Here are the ways to reach Webull:

The company also has social media presence on Facebook and Twitter.


On the fee and pricing end, it is all sunshine and rainbows. Webull doesn’t charge you any trading commissions.  What’s more, there are no fees involved when opening an account or for maintenance purposes.

That said, you might still incur some fees. These fees include those charged by the Securities and Exchange Commission and the Financial Industry Regulatory Authority.

Webull also offers some promotions such as the Free Stocks promotion, Referral bonus promotion, Transfer bonus promotion, and Deposit bonus promotion. Each of these promotions have different conditions and rules.  For the specifics, you can visit their website, under ‘Promotion’ in the ‘Account’ sections.

Webull Pros & Cons


  • There are no fee charges incurred when trading
  • You get bonuses from the promotions
  • Suited to accommodate the needs of experienced traders as well
  • Supports margin trading
  • Very swift signing up process


  • Webull is a new trading that is yet to mature fully.
  • Offers limited portfolio and doesn’t accommodate investment options like foreign stock, over-the-counter (OTC) stock, Forex, mutual funds, or bonds.
  • Only two types of accounts are available i.e. individual taxable and IRAs. Webull lacks other account types such as joint and trust, which are offered by other trading companies.
  • Limited to only US residents
  • Live chat & lacks telephone support are not available

What are the best alternatives?

Trading companies often vary in terms of fees, features, availability, investment options, and account options. Nonetheless, some have similar or closely similar features and services. Such platforms can be alternatives, and for Webull, these are Robinhood and Fidelity.

Final Thoughts

The fact that Webull charges no fees for the majority of its service is a big afterdeal. Besides, Webull does fairly when it comes to investment options. The platforms are also well-designed and easy to navigate around.

Unfortunately, its portfolio is limited, as it only covers ETFs, Crypto, Options, and Stocks. Whilst beginners will find Webull a worthwhile trading broker, experienced investors will feel limited.

Robinhood Australia

If you are thinking about investing in stocks, there are many stock brokers like Robinhood. But is Robinhood available in Australia?

robinhood australia

Unfortunately Robinhood is still not available in Australia. If you are looking for an Australian broker, check out eToro.

Picking a good Australian stock broker is vital. There are so many things that need to be considered and we will show you everything you need to know.

Here is a list with the best online trading platforms.

Robinhood Alternatives

Robinhood is only available in the United States. However there are many good alternatives:

Plus500 HighLow
Office Australia Australia
AU License ASIC #417727 ASIC #364264
Min. Deposit $100 $50
Real Shares
AUD Accounts
AUD Deposits
Demo Account
CFD Trading
Option Trading
AUD Forex Pairs
Info Lowest Minimum Deposit Best For Options Trading
Trust Score 4.7 4.7
Overall Winner

We recommend real shares trading instead of CFDs. AFSL 491139.Capital at risk. See PDS and TMD.
Plus500 Disclaimer: 77% of retail CFD accounts lose money.

Robinhood Australia Commissions

Robinhood is not available in Australia yet, but we hope that they will be available to Aussies one day.

Let’s see what the US customers pay.

Unfortunately, many online stockbrokers require users to pay a commission which can be very expensive, especially if the site is reputed.

Fortunately, you will not encounter expensive commission with Robinhood because they do not require a commission from customers. This is especially great because their interface is smooth and informative, which helps you invest wisely.

US Shares, ETFs and Options $0
Wire Transfers $0
Opening Cash Management Account $0
Maintaining Cash Management Account $0

You may be wondering how Robinhood makes money if they do not charge commission. They do this by analyzing your data and selling it to tech firms. Even though this may seem worrying, it is standard practice that major companies such as Facebook and Instagram do as well.

Like Robinhood, an increasing amount of online brokers are letting users access their services without paying a commission.

Robinhood caters to American users and is, therefore, a US-based site. Trading can be more expensive for users that are located anywhere else because they have increased the trading rates for non-US users.

Personal Experience with Robinhood

As someone who has used Robinhood for several years, I can attest to the benefits and drawbacks of the platform. One of the most significant advantages is the absence of commissions and minimum deposits, which makes it accessible to a wider range of investors. In my experience, this has saved me a considerable amount of money that I would have otherwise spent on fees.

However, I have also noticed that the free reports provided by Robinhood are not as thorough as those offered by other online brokers. This has led me to consider upgrading to the Robinhood Gold membership, which provides access to more extensive research and reports, as well as other premium features.

In terms of customer support, I have found that Robinhood’s email service is efficient and helpful, but the lack of a direct communication option, such as live chat or phone support, can be frustrating at times.

In terms of numbers, according to a recent survey conducted by Robinhood, 50% of their users are millennials, and 35% of their users have never invested before using their platform. This shows the growing popularity of online trading platforms, especially among younger generations who are seeking more accessible and affordable ways to invest their money.

Additionally, Robinhood reported a 400% increase in new account openings in the past years.

My personal experience with Robinhood has been positive, and I believe it offers a great option for investors who are looking for a user-friendly and cost-effective platform.

Robinhood Account Set-Up

If you want to set up a Robinhood account, you should know that you are not required to make a minimum deposit.

The process of creating an account is easy and quick so you can start trading almost immediately.

Unfortunately, your credit or debit card cannot be linked to the account because the site does not allow its users to trade with them.

Will You Be Penalized?

Some stockbrokers penalize their clients for various reasons. This is especially true of major names in the game.

There are numerous reasons why users of online trading platforms can be penalized. For example, backing out of purchases or account inactivity for extended periods of time, which would require payment to reactivate.

Fortunately, Robinhood Australia does not enforce such penalties and it is completely free to access.

What is the Membership Process Like?

If you have a Robinhood account, you will appreciate the fact that its services are free. However, it offers premium features that are hidden to normal users and they can only be accessed by becoming a Robinhood gold member.

In terms of the perks, users gain access to Morningstar reports, Level II streaming quotes and margin trading which is all available for $5 USD a month.

Many Robinhood users say that the gold membership is useless because you can get the paid features for free from other sites.

Of course, these sites do not offer reports that are as extensive as Robinhood.

Availability in Australia

Unfortunately, not everyone can open a Robinhood account because the site has restricted access in certain countries, including Australia.

This is unfortunate since a large number of traders reside in Australia. People living in Australia may not be able to use their services and work with them in the way they expect, despite appreciating the services they offer.


To invest in stocks, you need to be as informed as possible by reading the latest reports and becoming educated. Fortunately, most online brokers offer users the latest reports, including Robinhood.

Robinhood constantly updates you with the latest news on stocks to help you make the best purchase. On the other hand, the reports you’re getting won’t be extensive unless you pay for Robinhood Gold.

This is a shame as Robinhood’s competitors offer such services for free.

Be A Better Trader

Many online brokers offer users trading ideas that are based on research and reports which helps users invest smarter. Unfortunately, Robinhood does not offer trading ideas but it is important to work with such sites in the long run.

This factor might affect your decision to work with them or not. You could come up with trading ideas yourself by going through their news reports and research, but as mentioned, Robinhood doesn’t offer thorough reports unless you’re a gold member.

What Do You Want To Trade?

Robinhood allows you to trade several things in addition to stocks.

trade stocks, crypto, gold

You can work with stocks as well as cryptocurrencies and exchange traded funds (ETFs) which means that you don’t have to switch between platforms for each.

Ease Of Use

In terms of availability, the fact that it is unavailable in certain countries might be a huge drawback. However, access is not restricted according to the type of device you are using. Robinhood is available on all computers and mobile devices, irrespective of their operating systems.

Furthermore, its interface is known to be very easy to use. On their website, you’ll see a minimalistic design with a lack of clutter which makes it easy for you to go through and make your decisions wisely. Of course, the simple design translates to its mobile version as well.

You can download Robinhood from the AppStore on IOS or Android. Many people have noted that the mobile app functions more smoothly and looks better than the web version. Thus, if you are using Robinhood on your computer, you may not trade as well than you would if you were using your phone.

If you were to compare the mobile and web versions, you would see that the app has more customizability so you can edit your account to your liking.

Customer Support

Customer support is vital when trading stocks. You may hit bump in the trading process, so adequate services are needed to resolve any issues you might run into.

Thankfully, Robinhood offers excellent customer support. If you have any questions, they are known to offer quick feedback via email. Robinhood’s site has a FAQ section with some common problems along with proper solutions.

Robinhood does not offer a direct communication services in the form of phone or live online chat. The only option to communicate with Robinhood would be through email. This is unfortunate because most of Robinhood’s major competitors offer live chats, especially etoro.


It is important to be careful when working with online broker because they may not be trustworthy and may even mishandle your cash. If an online broker is licensed, you can expect that they will be safe to work with.

Robinhood is safe for you to trade on because they are regulated by top tier financial authorities and they offer large levels of investor protection.

Although this is a major advantage, they are not listed on the stock exchange which might call into question their reputability. Robinhood is not as verified as its counterparts due to the fact that they are not on the stock exchange.


Overall, it is safe to say that trading through Robinhood offers a variety of pros and cons. To summarize:

The Pros:

  • It offers investor protection
  • It’s regulated by financial authorities
  • Friendly and quick email support
  • Simple interface
  • Can trade stocks, cryptocurrency, and ETFs
  • Provides free reports
  • Easy to set up
  • No commissions or minimum deposits

The Cons:

  • It’s not on the stock exchange
  • No call center or live chats for customer support
  • Mobile version works better than PC counterpart
  • Extensive research and reports are only accessible through a paid membership
  • Not available in countries like Australia