What is WeBull?
WeBull is an app that offers free stock trading. On their platform you can trade over 5,000 US stocks and ETFs with no commissions.
They are a registered broker with the SEC and a member of FINRA and SIPC.
They also have an amazing promotion. If you make a WeBull account, you’ll get a free stock worth up to $1000 if your first deposit is $100 or more!
- Trading is only for US residents 🌎
- Commission free trades
- Lots of in-depth tools and features
Who is it for?
WeBull is for anyone that invests or wants to invest in stocks or ETFs in the USA. The main advantage is they have zero commissions and no minimum deposit which is perfect for active traders and intermediate to advanced investors.
Additionally, investors looking for lots of features and data will also enjoy this platform. WeBull offers real time data, technical indicators, news, watchlist and alerts, and tons of tools for you to use.
Even those who don’t want to trade can use WeBull for valuable market statistics and updates. They offer info on US stocks, Canadian stocks, ETFs, crypto, futures, options, commodities and indices. There are lots of reasons to try WeBull.
How can you make money?
Option 1: Invest in the S&P 500
If you’re looking for a long term way to make money, pretty passively, you should invest in broad market ETFs like the S&P 500.
Historically, the S&P 500 has had an average return of 7% every single year adjusted for inflation. Just by investing like this consistently you can build a large portfolio over many decades.
Also, by using this method, you don’t have to spend hours researching individual stocks you just can just put money in consistently and your portfolio should grow over time.
Other platforms that charge commissions eat up your profits very quickly so WeBull is a good option to consider.
Option 2: Trading Individual Stocks
If you want to actively trade stocks, it is much more difficult than option 1 but it can be done. The benefit is if you know what you’re doing you can start making money much quicker.
WeBull has margin trading, short selling, and tons of features where it is possible to pull this off. And obviously, no commission makes a big difference when you’re making multiple trades every day.
If trading stocks interests you we recommend taking a course or learning from a mentor because it is a very specialized skill.
Pros Of WeBull:
- Commission free
- Trade stocks, ETFs
- Tons of features and in-depth market research
- New members can get a free stock if their first deposit is $100 or more
- Minimum account balance is $0
- Extended hours trading
- Practice with a virtual trading simulator
- Coming soon you can trade options and crypto
Cons Of WeBull:
- Must be a U.S resident to make trades
- Can be a little overwhelming for beginners
- No portfolio assistance or mutual funds
Are there other fees?Commissions are free but there are some small fees which are common on all brokerage platforms. This is what to pay attention to:
- SEC fees: A $13 charge for a total of $1,000,000 of principal on stock sales only, with a $0.01 minimum
- FINRA fees: A trading activity fee (TAF) of $0.000119 per share on stock sales only, with a minimum of $0.01 and no more than $5.95
- Margin account: $2000 minimum balance and fees are 3.99%-6.99% (ONLY for the money you borrowed on leverage)
- Bank fees: There can be no bank fees unless you are doing wire transfers