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WeBull Review (Updated 2024)

By: Joel & Josiah

Webull Review 2023: Is It The Best Stock Advice Source?

Webull is a free brokerage platform that allows you to trade stocks, ETFs, and options.

That’s right, Webull is a commission-free trading platform.

However, there are some other charges to be aware of, which I will cover soon.

Webull is a new broker in the game, founded in 2017, but they came out swinging with some awesome features.

Webull is run by Fumi Technology, a Chinese company, but it accepts US, Chinese, and Indian citizens.

Webull, founded in 2017, has millions of users and manages over $3 billion!

Should you use Webull, one of the best trading platforms? Let’s see…

This review will go over Webull to see if it really is the best trading platform out there.

You’ll learn whether Free Stocks Trading is the right online business for you.

And at the end, you’ll find answers to some of the most frequently asked questions regarding Webull and Stock Trading in general.

But most importantly, you’ll see the exact system many others have used to build their own internet marketing business to over $40,000 a month in mostly passive income

This system made them swear off Stock Trading for good because it uses some of the same skills but in a much more powerful and profitable way!

This WeBull review has been thoroughly researched with information and testimonials that are available to anyone in the public. Any conclusions drawn by myself are opinions.

Why Listen To Us?

My name is Josiah, and this is my Dad, Joel.

Together, we make up the team here at Scamrisk.

If you’ll let me bother you for two minutes, I’d like to quickly explain why I’m even here writing this review.

In early 2020, I had just graduated from college & had no real career prospects.

I knew I was destined for something more, but I had no clue how I was going to make it happen.

I had this sinking feeling in my gut all the time… like the “big man upstairs” had accidentally given me the version of life where I’d be mediocre forever, instead of the one where I was, ya know – happy & fulfilled.


I had fiddled around with some different online businesses in college:

Some random MLMs, a bit of affiliate marketing, a (failed) dropshipping store or two, all the usual suspects.

Even my dad had been involved in MLMs back in the day… selling knives & other random nonsense people (probably) didn’t need.

All I really wanted was to find something that was going to actually work for me.

Maybe those things had worked for others, but for me it all turned up a fat “0” in the bank account department.

So I searched! And searched… and searched… and searched…

And eventually, I somehow stumbled upon a program that promised to help me build an income online (read about it here if you’re curious).

I didn’t really want to be “rich”.

The thought of making a reliable $5K per month & not having to worry about clocking in to a 9-to-5 ever again was all I needed.

Sure, there were people in the program doing high-6 and low-7 figures per year… but that wasn’t what I was out for.

I just wanted to provide freedom for myself, and if I was lucky, take my family along for the ride.

Fast forward a few days and a few phone calls & I was enrolled!

Here’s the first “money making website” I put up:

I built that site in 2020, and it still makes me $1,500 per month. It’s a basic 5 page website I built based on a template the program provides.

The best part to me? My dad and I get to do it all together!

So between the:

  1. Ease of reaching $5-$10K per month in income online
  2. Straightforward-ness of the system to do it
  3. Fact that I get to do it w/ my family

Is why I recommend local lead generation as my #1 business model for making money online.

Sure, it takes some work and dedication – but anyone that tells you that there’s a business out there that requires no work is selling you a lemon.

I’m not saying you need to sign up for the same program I did, but I would definitely recommend giving the business model a peek!


What Is Webull? A Webull Review

Webull, is commission-free trading of stocks and ETFs app. It is supervised by the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA).

There’s also margin trading and short-selling on Webull. Inexperienced traders can also benefit from Webull’s trading platform.

Webull is a popular Robinhood alternative.

Best For

  • Intermediate traders
  • Active traders
  • Advanced traders


  • Over 5,000 different stocks and ETFs are available for commission-free stocks trading.
  • There are no account maintenance or software platform fees.
  • There are no fees to open or maintain a WeBull account.
  • Leverage of 4:1 on same-day margin trades and leverage of 2:1 on overnight trades
  • Simple-to-use trading platform with technical and fundamental analysis tools.


  • Mutual funds, bonds, and OTC stocks cannot be traded.

Who’s Webull for?

webull review

Webull and the Webull app are aimed at intermediate and advanced self-directed investors and traders. Its commission-free structure is designed for short-term and active traders who want to save money on commissions compared to other online brokers.

The intuitive features and design of the Webull platform may be considered advanced for novice traders, but the platform can still be learned.

WeBull offers fractional shares to its customers, allowing even the smallest accounts to participate in the most expensive stocks.

Webull offers a list of trading courses and a trading simulator or demo trading account with real-time data and advanced charting capabilities for stocks listed in the United States.

These features may be appealing to new traders who want to learn more about the market and develop a trading strategy.

Webull Customer Experience & Tools

Webull Customer Experience

The mobile web-based and desktop app versions of the Webull trading platform cater to both experienced and intermediate traders. The platform’s tools provide information and insights to help you make more profitable trades.

The platform includes tools to assist you with both fundamental and technical analysis.

Aside from access to analyst recommendations and revenue and historical earnings per share data, the platform also provides key statistics and insider trades along with stock information like earnings, dividends, and stock splits along with news updates to keep you informed about events that could have an impact on your investments.

On the technical side, the app offers a real-time bar, candlestick, and line charts with time frames ranging from 1 minute to 60 minutes, as well as a set of historical data dating back 5 years. Popular indicators such as Bollinger Bands, MACD, oscillators, and others are additional technical resources.

Sign up for Webull and receive a free 3-month subscription to Webull’s Level 2 Advance (Nasdaq TotalView service) for a more in-depth view of markets and orders, including opening, closing, IPO, and halt crosses. The NOII is one of the benefits. It increases market transparency by revealing the actual supply and demand dynamics.

Furthermore, cryptocurrency trading is now available on Webull. Here’s why you should use Webull’s brand-new feature:

  • There is no commission.
  • Can trade using a single account
  • Trading cryptocurrencies 24 hours a day, 7 days a week is possible with this platform.
  • A $1 minimum deposit is required.
  • Real-time data for free.
  • 8 charts and 50+ indicators to aid in market analysis
  • The layout is highly customizable.
  • Mobile, desktop, and web platforms are all supported.
  • In the community tab, you can interact with others.
  • Responsive customer service
  • The help desk is open 24 hours a day, seven days
  • Authentication with two factors
  • secure and safe

Webull’s Research Offerings

Webull's Research Offerings

Webull’s research receives the highest marks for usability, filtering capabilities, and overall informational value. On the mobile app, research can be found on four different pages: markets, news, an individual stock page, and a screeners page.

The screener’s page allows you to choose which stocks to track and which technical parameters to monitor and set smart alerts for.

An economic calendar with upcoming IPO dates, earnings, and other news about the stocks you’re following is included in the feature. On the app, you can create your own watchlists and receive alerts via email or SMS.

Webull can track Canadian stocks, ETFs, and options. Also, cryptocurrencies, futures, commodities, and indices are in addition to US stocks. The app allows you to track stocks in 5 categories in over 90 countries/regions, with over 25,000 stocks.

You can also track 100,000 funds, 1,000 currency pairs, and 3,000 commodities.

Webull offers trading ideas and courses, such as day trading classes for beginners. The trading simulator, which is essentially a demo account that you can use to try out the platform and simulate trading ideas, is one of the platform’s best features.

Webull’s Commissions and Fees

Webull's Commissions and Fees

Webull, like its major competitors, does not charge a commission on US stock trades or to open or maintain an account. However, SEC and FINRA fees do apply.

  • SEC fees. On stock sales only, a $13 charge for a total of $1,000,000 in principal, with a $0.01 minimum.
  • FINRA fees. A TAF of $0.000119 per share on stock sales only, with a minimum of $0.01 and a maximum of $5.95.

To trade on margin accounts, you must have at least $2,000 in your account.

Webull has free stocks promotion in which you and someone you refer to Webull can each receive one share of stock worth up to $1,000. It could quickly add up if you have a lot of friends who like to invest and are new to Webull.

Webull’s Security

is webull safe

Webull Financial LLC, Webull’s parent company, is a Securities Investor Protection Corporation (SIPC) member. Webull insures its members’ securities up to $500,000, including $250,000 for cash claims. Somehow same with savings bank account.

Apex Clearing Corp., the company’s clearing corporation, has also purchased an additional insurance policy. The policy provides coverage for securities and cash up to a total of $150 million. The maximum limit for any one customer’s securities is $37.5 million, of which $900,000 can be in cash.

Both SIPC protection and Apex Clearing Corp.’s additional insurance policy do not protect Webull members from a loss in the market value of their securities.

Webull 7.0 Update

is webull good

Webull 7.0 was released on May 13, 2021, as another update to their platform. Among the updates are:

  • Learning Tools: You can gain access to information that will help you make better investment advice decisions.
  • New Account Homepage Design: The new account page makes reading and accessing information more accessible, such as the newly added daily P/L and realized P/L screens.
  • Integrated Message Center: You can now categorize messages to better organize information.
  • Financial Report Analysis: In-depth financial data is now available in a graphical format to assist you in making quick and informed investment decisions.
  • Depth Market Quote: Advanced Market By Order and MPID can now be seen on a bid and ask transactions.
  • Webull Crypto now supports three additional cryptos: Dogecoin (DOGE), Stellar Lumen (XLM), and Zcash (ZEC).

Webull’s Customer Support

Webull’s customer service team can be reached at:

  • 888-828-0618
  • Instagram, Facebook, and Twitter

Webull’s FAQ page provides detailed information on opening an account, funding, and transferring cash or stocks. It also includes a Trading on Webull that contains information about commissions and fees, tradable assets, and order types.

The FAQ sections on the help page can answer your basic questions. Email or call Webull for more information or speak with a Webull representative for more information or assistance.

Tradable Asset Classes, Investment Strategy, and Mutual Funds

Tradable Asset Classes

Webull currently offers trading on over 5,000 US stocks and ETFs in the US. Now, the broker does not support trading in stock options, over-the-counter stocks, mutual funds, bonds, or cryptocurrencies, which is somewhat limited.

Another important feature is the ability to margin short sales and leverage the sale up to four times the amount in the account for same-day trades and two times the amount for overnight trades. When trading with a margin, keep in mind that your net account balance is $2,000.

Suppose your balance falls below that amount and you have open positions. In that case, the broker may liquidate your position to cover the margin shortfall.

You have access to unlimited day trades if you have a balance of $25,000 or more in equity. Only settled funds can be used to fund day trading in a cash account. For example, if you only have $500 in a cash account, you can only day trade in that account up to that amount.

Can You Make Money with Webull?

Yes, You can!


There’s a lot that comes along with Stocks Trading that many people struggle with.

Now, don’t get the wrong idea…

It’s not impossible to make money with Stocks Trading, but if you’re gonna put in the amount of grueling work to do this business (which, trust me, isn’t easy), you might as well bring in some REAL money while you’re learning the ropes.

The program that helped skyrocket many online businesses to over $40,000+ per month is so simple that making money really does become second nature.

Trading Outside Market Hours With Webull

Furthermore, Webull’s premarket and after-hours trading options allow you to trade when everyone else is sleeping. Premarket hours will enable you to react to overnight news that may have affected one of your holdings. After-hours trading is similar, but keep in mind that liquidity drops during this time, institutional investors frequently trade during this time, and you may want to postpone your move until premarket hours.

Webull’s extended trading hours are as follows:

  • Premarket trading hours begin at 4 a.m. EST and end at 9:30 a.m.
  • After-hours trading starts at 4 p.m. EST and concludes at 8:00 p.m. EST.

Webull’s Ease of Use

Webull's Ease of Use

Webull appeals to traders of all experience levels, from the ease of downloading the Webull app to the simplicity of making your first live trade. The mobile app and desktop version of the Webull trading platform have an intuitive, easy-to-use interface that can be learned by trading in the demo account.

As long as you have sufficient funds in your account, you can change your account from a standard account to a margin account directly on the platform. Another benefit of the Webull platform is its adaptability. Traders of all skill levels can benefit from Webull, which allows them to create watchlists and set alerts.

Final Thoughts on Webull

Webull could be an excellent choice if you are a US citizen who only trades US stocks and ETFs. You can access the stock market and many other markets through the Webull app or website.

Though the platform currently only allows trading in stocks and ETFs, you can monitor various global markets such as cryptocurrencies, forex, and commodities. Access to trading in other assets and markets should become possible as the company grows.

With over 22 technical indicators, the platform’s charting capabilities are more than adequate for many traders who use technical analysis. The platform’s news feeds, and analyst evaluations will also provide you with a wealth of fundamental data for investment and trading analysis.

Frequently Asked Questions

Webull faqs

Is Webull a good brokerage firm for first-time investors?

Webull is geared toward intermediate and experienced traders, but new traders can benefit greatly from the platform.

Is it possible to trade on Webull before the settlement date?

You can trade your funds before settlement day if you have margin accounts.

What is diversification?

Diversification means spreading your investments across a wide range of assets. This is one method for balancing risk and reward in your portfolio.

Diversification can also help to reduce portfolio risk and volatility. It doesn’t guarantee profit or loss, but it’s always a good idea not to ‘put all your eggs in one basket.’

On Webull, how do you purchase fractional shares?

Webull does not permit the purchase of fractional shares of any stocks or ETFs. Between 4 a.m. and 8 p.m. EST, you can trade over 5,000 US-based stocks, options, and ETFs. It does not allow trading in bonds, mutual funds, or over-the-counter stocks.

What is Financial Industry Regulatory Authority?

FINRA is a self-regulatory organization that regulates member brokerage firms and exchange markets. FINRA replaces the National Association of Securities Dealers, Inc. (NASD) and the New York Stock Exchange’s member regulation, enforcement, and arbitration operations. The US Securities and Exchange Commission is the ultimate regulator of the US securities industry, including FINRA (SEC)

What is Securities Investor Protection Corporation (SIPC)?

Customers are protected if their brokerage firm fails. Broking firms fail rarely. If it happens, SIPC protects your securities and cash up to $500,000. Up to $250,000 of the $500,000 is protected for cash in your account to buy securities.

How do you buy cryptocurrency on Webull?

Webull allows you to purchase specific cryptocurrencies such as Bitcoin, Ethereum, Litecoin, and Bitcoin Cash. To trade cryptocurrencies, you must first obtain approval and then update your trading application to version 6.31. Following approval, navigate to the “Cryptos” link under the “Markets” tab. By pressing the “Trade” icon in the bottom left corner, you can select what you want to buy or sell.

What Is Our #1 Recommendation For Making Money Online In 2023?

Take the PenOur review team has come across a program in the real estate industry that is next level!

Although it’s not real estate in the traditional sense, it’s all digital.

Yup, Digital Leasing!

Where Webull comes up a little short is in scalability.

It just takes too many resources (money included) for any regular person to bootstrap.

But what if you could make even more money off of little local websites without having to spend so much time and money learning stocks and cryptocurrencies trading.

With this Digital Leasing program, you can profit off LOCAL traffic to your website every single day!

Sound too good to be true?

Of course it does!

But it isn’t…in fact, business owners wish they had this skill!

All you have to do is build and rank a LOCAL website and forward the jobs off to a business owner in town, you could even email it to them!

This works for literally any service based business, tree service, plumbing, towing, etc.

How do you get paid and how much?

Simple, after you forward the jobs off to a business owner and he makes some money off of them, you simply ask to make the deal beneficial for each other.

A fair price to charge per lead, depending on the industry is 10-20%…let’s just use the tree service industry for example and go by worst case scenario.

Let’s say you build and rank the site and only 10 jobs a month come in. The average tree service job is anywhere from $500-$2000!

That means at bare minimum you have an asset worth $500 a month!

See why they call it Digital Leasing now?

That’s a rent payment.

The great thing is how easy it is to scale. You don’t have to worry about spending boatloads of money on a single traffic source to get CRUMBS in different trades.

This program actually allows you to collect HUGE FLAT RATE DEALS. Truly passive income!

The training program takes making money online to a whole other level. The owner of the program walks you through how to build and rank a site hand in hand, with the occasional voice over when he is sharing his screen.

You will learn the importance of keywords, website name, how to send call notifications via email, backlinking, etc.

Once the training program is completed you will also have access to a Facebook group much better than the Webull group in our opinion. This group is much more active.

webull reviews

A business will always want more leads and another job. In fact it doesn’t even matter that the job isn’t coming from their website name…they see it as it is…expanding Digital Leasing.

Unlike Webull, more people have been able to walk away from their 9-5 job as well.

Now, we know you probably have tons of questions… So, check this out to learn more.

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