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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.

eToro AUS Capital Limited AFSL 491139. eToro us a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk. See PDS and TMD.

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.