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7 min read

    7 min read

    Looking for a lucrative and interesting Plan B or life after rideshare? Getting started in the stock market could be a great opportunity for you if you like following your favorite companies and want to earn money tracking them on the market.

    We reviewed Webull, a discount online brokerage, which has a lot of great features and makes it easy for you to track, buy and sell stocks.

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    Plus, you can get 2 free stocks when you sign up – one for opening an account and another for funding it with at least $100.

    In this Webull review, I’ll explain how to get started on the app as well as some key features that make this investing platform stand out.

    Quick links:

    About Webull: How Does Webull Work?

    Webull is an online stock broker that offers customers a place to do commission-free trading. In the past, investors had to pick up the phone and call a stockbroker to invest, but not anymore. Webull provides an easy way to watch the market and keep on eye on a specific stock.

    Some professional stockbrokers spend hours and hours a day watching market activity. With Webull, you don’t have to. Plus, it’s available on both mobile and desktop that you can check your watchlist and buy stocks whenever it’s convenient for you.

    If you are new to investing this is a perfect way to get started. Webull doesn’t have trading fees and is easy to learn how to use.

    WeBull Free Stock Offers

    How to Get 2 Free Stocks with WeBull

    Webull users can get two free stocks when opening and funding a Webull brokerage account. Just for opening the account, you’ll receive a free stock valued between $2.50 and $250. It isn’t credited right away; you’ll have to wait a few business days to get approved.

    You can also earn more free stocks from Webull if you refer others to join the platform. Refer a friend and get 2 free stocks. If you refer 3 friends, you’ll get 9 free stocks.

    Deposit Bonus

    If your first deposit is at least $100, you’ll get a second stock for free that is valued between $12-$1,400.This $100 deposit is must lower than what other brokerages charge to get started, making it easier for you to begin investing.

    As soon as you submit that $100, you can start using Webull. The actual $100 won’t hit your account for a few days.

    Once you get your free stock, you have the option to either sell it or keep it. Holding on to it can be a wise choice since the stock could be worth more in the future.

    How to Sign Up for a WeBull Account

    Signing up for Webull can be done right from your mobile phone or desktop.

    Click on ‘open an account’ to get the process started.

    webull review

    Webull wants to know your personal information like name, age, sex, marital status, date of birth, and the number of dependents in your household.

    webull review

    Next, Webull collects your employment information, including your employer’s name and type of industry you are in.

    After you fill in your basic information, Webull will prompt you to complete your investment profile. This will include listing your investing experience and giving an idea of how long you plan to invest your money. Webull also asks for financial information like investor’s (your) approximate yearly income.

    webull review

    New users have to verify their identity (via a driver’s license, state ID, or passport). Once everything is verified, your Webull account will be ready to use.

    You can choose between opening a cash or margin account. Cash accounts only allow you to invest with the money you deposit.

    Margin accounts allow you to invest in credit with the intent to payback in the future.  Each investor is limited to one cash and one margin account.

    webull review

    You can take a look at this beginner investing with Webull video below to see what Webull looks like in action:

    WeBull Pricing: How Much Does it Cost to Use WeBull?

    Webull is free to sign up for and check out. If you don’t like what you see, you are more then welcome to leave before making an investment.

    Webull doesn’t charge on U.S. stock trades or to maintain your account.

    When you start trading securities however, you will incur a fee, but Webull does not profit off this.

    Here are some of the fees charged when trading with Webull:

    Webull as a Brokerage: Webull Features

    Webull allows investors to trade at their own pace Webull does go in a little more depth than other sites, but is fine for beginner, intermediate, and advanced traders.

    Webull is registered with the Securities and Exchange Commission (SEC). Webull is also a member of the Financial Industry Regulatory Authority (FINRA) and Securities Investor Protection Corporation (SIPC).

    SIPC helps protect Webull accounts up to $500,000 and $250,000 for cash claims. Additional coverage is through the APEX Clearance Corp for up to $150 Million. This is for accounts that have invested $37.5 million or $900,000 per user in cash.

    Here are a few of the notable Webull features.

    • Commission-free trading
    • Full extended hours trading
    • 24/7 Live Help & Support
    • No Deposit Minimums

    Pre Market Hours: 4:00-9:30 AM EST

    After Hours: 4:00: 8:00 PM EST

    Margin trading is available with no monthly costs even if you wanted to invest with more then the balance that is currently in your account.

    If you have a minimum of $2,000 in your account, you can margin short sale up to 4X the amount in an account on same day trades and 2X the balance if the trade happens overnight.

    WeBull vs. Robinhood: Webull Review

    Webull and Robinhood are both very popular free trading apps. Robinhood is more for beginner traders while Webull is a little more advanced and better for intermediate and advanced traders. Beginners are welcome to try either.

    Webull has a better sign up promotion. Robinhood does have the initial free stock but doesn’t have the extra free stock option.

    Webull offers a stock when funding an account with $100 or more. Webull has now opened up the option to open free IRA accounts while Robinhood currently doesn’t offer this.

    WeBull Pros and Cons: Is Webull legitimate?

    Pros

    • Gives real-time market data
    • Automatic stock alerts by email or text
    • Margin trading with no monthly fee
    • View upcoming IPO’s
    • 25,000 Stocks across 90+ regions
    • Accessible in the US and UK
    • Offer materials and courses
    • Margin trading can be done with more than you have in your account

    Cons

    • Mutual funds, penny stocks, and bonds are currently not supported
    • Maybe overwhelming with all Webull’s features
    • No prebuilt portfolios
    • Fees from SEC and FINRA for each trade
    • Email and Help Center customer service only
    • No prebuilt portfolios

    Yes, Webull is a legitimate online brokerage for those looking to invest in the stock market.

    WeBull Reviews: Can You Make Money on Webull?

    Everyone loves that Webull is free to get started with and use.Plus, you can make money on Webull just with your two free stocks!

    While offering more features than apps like Robinhood, Webull can be a little more confusing for new traders. This can be a great option for long term traders, but not always the case for short term traders or investors.

    Take a look below at this YouTuber’s description of how he uses Webull to track his stocks, trades and more:

     

    Webull is a mobile-first platform for both Android and iPhone devices but does allow trading through their website as well.

    Is Webull Good for Beginners?

    At first, Webull might make more sense for intermediate and expert traders.

    However, beginners can still do well on the app too. Just take it step by step and keep your risk tolerance low while you gain more experience with buying and trading stocks. There are a lot of great features with this program but you don’t have to use them all at once.

    If you’ve been curious about augmenting your stock picking knowledge, Webull could be a great opportunity to invest in the market and track it all from your phone. Plus, you’ll get two free stocks for creating an account and investing $100 when you use a referral code!

    Readers, do you invest in the stock market? Would you try an online brokerage?

    -Chonce @ RSG

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    Chonce Maddox Rhea

    Chonce Maddox Rhea

    Choncé is a freelance writer who’s obsessed with living well on a budget and loves encouraging people to make extra money so they can meet their financial goals. She is happily married to one of the best Uber drivers in the Chicago metro area, who currently has 2,800+ trips under his belt.