Webull

Webull Review in April 2024: Everything You Need to Know to Buy or Sell

by

This guide will review Webull, a USA-based investment platform for Cryptocurrency, Stocks, Paper trading, OTC, Options Trading, etc.

What is Webull?

Webull is a finance-based company that provides an investment platform to their customers for trading and investment in crypto, crypto wallet, fractional shares, options, OTC, paper trading, and recurring investment.

Webull was founded in 2017; It started as a portfolio consolidation and research platform; afterward, it began to provide brokerage services. In 2020, Webull started trading in cryptocurrency. Its technology team is based in China, Hunan & New York for its US customer operations.

Read: E*Trade vs Webull

Webull Commission and Fees 

Webull charges 0 % commission on their options, stocks, and exchange-traded fund (ETF). So, any customer tries their services and invests in cryptocurrency or any other item at 0% charges and no deposit minimums. 

Simply put, stocks loans, interest on free credit balances, margin interest, and payment for order flow. This makes it more cost-saving for users to trade stocks and cryptocurrency through Webull.  

What Does Webull Offer?

Webull facilitates the following for its customers:

  • Zero charges and commission as mentioned above, which makes their users reliable to invest through Webull
  • Free Real-time Quotes (these are the free real-time quotes provided by NASDAQ)
  • 24-hour online help for their customers
  • Access to 11 different cryptocurrencies 
  • A well-built mobile app with an excellent user Interface
  • Allow one individual to have two different accounts on Webull, but they should be of other account types. 
  • Inbuilt effective charting tools and multiple technical indicators give an individual an idea of their investments & new Trading opportunities
  • You can have multiple brokerage accounts as well
  • It provides a trading community wherein participants can paper trade and improve their knowledge

Customer Services and Security 

Webull provides its services 24/7, and if a customer is unsatisfied with their services, they can file a complaint with FINRA. 

Email – [email protected]
Call – +1-888-828-0618

You can reach customer support via mail, and they respond in some hours rather than days or weeks. Phone support is available between 9:30 a.m. and 4 p.m. ET, Monday to Friday. Customer service is polite and helpful when you connect with them.

For security purposes, Webull has two-factor authentication, mobile security features, and firewalls.

Webull Instant Deposit Options

It is a trading platform that enables you to trade in various market securities such as Stocks, cryptos, ETFs, Margins & many more.

You will need some money to start trading; there are several deposit methods like Bank Transfer, Debit/Credit Card, or Online Wallets like PayPal, Skrill, etc.

Majorly funds are deposited from a US bank account using either an ACH transfer or a US domestic wire transfer.

Webull allows you to invest in stocks without requiring a minimum deposit. The Webull Instant Deposit feature enables you to keep trading, even if the Deposit has not settled yet.

Webull Instant Buying Power Options

Through this feature, Webull offers provisional cash with instant Buying Power to all its registered users so they can start trading immediately.

This way, users can trade continuously without having to wait for a typical five days for their deposit to reflect in their Webull account.

Through this feature, you may trade ETFs, Stocks, and Cryptocurrencies, but you may not be able to trade Options.

The timeframe of the full Deposit to settle in the account depends on the amount and method of your deposit. Usually, it will be around five days.

How to Get Crypto Buying Power on Webull?

  • Buying power is given while your Automated Clearing House (ACH) is in the process so you can trade before deposits settle, which takes around four business days.
  • Instant buying power depends upon deposit amount, account type, cash balance, the market value of your positions, total amount of incoming funds, credit scores, etc.
  • Before deposits are settled, Webull gives instant buying power to the user so that trading can start immediately.
  • Instant buying power helps you to trade in trade stocks, ETFs, and cryptocurrency, but you can not use it for trade options.
  • Trading on provisional cash is interest-free. However specific fees may apply for an exchange or regulatory.

Webull Incoming Deposit

To check your incoming deposit, follow these steps:

  1. Visit the Webull homepage
  2. Tap on details next to “Total Account Value“
  3. Scroll down to “Payable and Receivable“
  4. Tap incoming

Webull Instant Withdrawal

Unlike some deposit options available in the market, withdrawal is scarcely instant. It usually takes several business days for your money to arrive.

Still, with Webull, the withdrawal takes a maximum of two business days, which is considered fairly average compared to others.

Funds are not available to withdraw before they are fully settled. Stocks usually settle on a T+2 basis; Options take one business day, while proceeds from crypto will be available the following day (if sales are made before 8:15 PM ET)

Webull Provisional Credit Delivery Time

Deposit timeBuying Power Given Period
12:00 AM – 8:00 AM ETAround 7:00 AM of the same day
8:00 AM – 4:00 PM ETImmediately
4:00 PM – 11:59 PM ETAround 7:00 AM of the following day

Why Does Webull Take So Long to Deposit?

It usually takes 4-5 business days for each ACH transfer to settle. For the time being, Webull grants you a provisional credit as the instant buying power to start trading.

Based on your account type, if you deposit before 4 PM ET, you will have an instant credit available that same day, and the deposit will settle at 7 AM ET on the 4th Business Day.

If the Deposit is made after PM ET, the sediment will drop at 7 AM on the 5th business day.

How to Increase Webull Crypto Buying Power?

Time needed: 1 minute

These are the steps for increasing or growing the crypto buying power:

  1. Use Instant Buying Power Limit

    When your Deposit(s) exceeds the limit, the maximum you can receive is your Instant Buying power limit.

  2. Grow Net Value

    After settling your deposit, the higher your net account value, the more instant buying power you will be given.

  3. Know the Correct Net Value

    The net account value is the total equity or dollar value of all holdings of the trading account, not only in securities but cash.

  4. Calculate Net Worth

    The figure is calculated by including or adding up the total amount of cash in the account and the current market value of all holding securities, then subtracting Or excluding any shorted stocks.

  5. Increase Your Holdings

    The more holding you have or net account value on the Webull, the more instant buying power you will be awarded.

Does Webull have a Withdrawal Limit?

In a cash type of account, you can only withdraw the settled cash that you have for that day at that given point in time, whereas, in a Margin account, straightaway, the available cash balance would be available to withdraw.

 If you want to withdraw all your portfolio, then it may be possible that your cash available to withdraw may be less than the cash balance as Funds are not available to withdraw before they are fully settled.

Various securities have different settling times, such as Stocks being settled on a T+2 basis, whereas Options usually take one business day.

Also, as per NYSE rules, investors must always maintain a minimum amount of equity in their margin account. Although there is no fee for ACH withdrawals, Webull charges $25 per withdrawal via wire transfer, whereas $45 per withdrawal via international wire transfer.

How to Buy and Sell Cryptocurrency on the Webull?

  • Firstly, users need to create an account in Webull. To create an account, they need to fill in the basic information such as phone number and verification process. This makes it simpler and more convenient for users to trade in crypto. 
  • Afterward, activation of the account must be done. The user can trade on the app anywhere and at any place.
  • Another account must be other brokerage accounts such as stocks and ETFs. One account is funded then cryptocurrency trades are made with either a market order or a limit order.

Useful Guides:

Leave a Comment