The S&P 500 has delivered strong returns over the past two years, and you’re researching trading platforms instead of just opening an account somewhere. That tells me something: you want to capture those gains, but you’re not sure which broker deserves your money—or whether “commission-free” actually means free.
Webull has been advertising aggressively, promising professional-grade tools without the professional price tag. After testing the platform extensively and comparing it against Robinhood, Fidelity, and Schwab, here’s the verdict: Webull delivers genuine value for active traders who want advanced charting tools for free, but it’s not the right choice for everyone.
Quick Verdict: Is Webull Worth It?
Yes, for self-directed active traders. Webull is the best free platform for traders who want professional charting tools, extended hours trading, and a paper trading simulator—without paying Schwab or TD Ameritrade prices.
No, for complete beginners or long-term investors. If you need hand-holding, comprehensive customer support, or plan to buy index funds and forget about them, you’re better served by Fidelity or Vanguard.
| Category | Rating |
|---|---|
| Charting & Tools | Excellent |
| Cost | Excellent ($0 commissions) |
| Ease of Use | Good |
| Customer Support | Fair |
| Research | Good |
| Best For | Active traders wanting free advanced tools |
What Makes Webull Different
Most commission-free brokers give you a basic app and call it a day. Webull gives you tools that would cost $200+ per year at other platforms—for free.
The standout features:
- 60+ technical indicators — Moving averages, RSI, MACD, Bollinger Bands, and dozens more
- 20+ drawing tools — Trendlines, Fibonacci retracements, channels, and pattern recognition
- Extended hours trading — Trade from 4 AM to 8 PM ET (most brokers limit you to market hours)
- Paper trading simulator — Practice with unlimited virtual cash and real-time data
- 8 chart types — Including candlestick, Heikin Ashi, and hollow candle
For context: TradingView charges $179/year for comparable charting. Webull gives you this for free.
Try Webull — $0 Account Minimum
The Real Cost of “Free”
Let’s be direct about how Webull makes money—because understanding this helps you use the platform intelligently.
How Webull earns revenue:
- Payment for order flow (PFOF) — Market makers pay Webull for your orders. This is how every commission-free broker operates, including Robinhood and Schwab.
- Interest on cash balances — Your uninvested cash earns interest for Webull
- Margin interest — 8.74% on borrowed funds (high compared to competitors)
- Securities lending — Webull lends your shares to short sellers
What this means for you:
PFOF is controversial but legal and regulated. The practical impact on retail traders is minimal—you might get slightly worse execution on large orders, but for most trades under $10,000, the difference is pennies.
The real hidden cost is margin interest at 8.74%. If you plan to trade on margin, Webull is expensive. Interactive Brokers charges significantly less for margin loans.
Complete Fee Breakdown
| Fee Type | Cost | Notes |
|---|---|---|
| Stock/ETF trades | $0 | Commission-free |
| Options (standard) | $0 | Per contract |
| Index options | $0.50 | Per contract for certain indices |
| Margin interest | 8.74% | Standard rate |
| Account minimum (cash) | $0 | No minimum |
| Account minimum (margin) | $2,000 | Required for leverage |
| Outgoing transfer | $75 | Per transfer |
Webull Premium ($3.99/month or $40/year) adds:
- Level 2 quotes (Nasdaq TotalView)
- Real-time options data (OPRA)
- Reduced margin rates
- Higher APY on cash
For most users, the free tier is sufficient. Premium is worth it only if you actively trade options or need Level 2 data.
Open a Webull Account — No Minimum Required
What You Actually Get
Trading Platform
Webull offers three ways to trade:
- Mobile app (iOS/Android) — The flagship experience. Clean design, fast execution, full charting capabilities.
- Desktop application (Mac/Windows/Linux) — More screen real estate for multi-chart layouts
- Web browser — Functional but less polished than dedicated apps
The mobile app is where Webull shines. It’s genuinely better designed than Robinhood’s app, with more depth for traders who want to analyze charts on the go.
Tradeable Assets
| Asset Class | Available | Notes |
|---|---|---|
| U.S. Stocks | Yes | Including fractional shares |
| ETFs | Yes | Commission-free |
| Options | Yes | Standard and index options |
| Futures | Yes | CFTC registered |
| Cryptocurrency | Yes | 70+ coins |
| IPOs | Yes | Access to initial offerings |
| Bonds | Yes | Fixed income securities |
This is broader than Robinhood (which lacks futures and has limited crypto) but narrower than Schwab or Fidelity (which offer mutual funds and international stocks).
Account Types
- Cash accounts: No minimum, no margin, no leverage
- Margin accounts: $2,000 minimum, 4x day-trade buying power
- IRAs: Traditional, Roth, and Rollover (with contribution matching)
The IRA offering is a nice addition that Robinhood only recently matched. If you’re building long-term wealth alongside active trading, having everything in one place is convenient.
How Webull Compares
Webull vs. Robinhood
| Feature | Webull | Robinhood |
|---|---|---|
| Charting tools | 60+ indicators | Basic |
| Extended hours | 4 AM - 8 PM ET | 7 AM - 8 PM ET |
| Paper trading | Yes | No |
| Futures | Yes | No |
| Desktop app | Yes | No |
| Crypto coins | 70+ | Limited |
Verdict: Webull wins for active traders. Robinhood wins for pure simplicity—if you just want to buy stocks and not think about charts, Robinhood’s cleaner interface is less overwhelming. See our Robinhood Gold review for details.
Webull vs. Fidelity
| Feature | Webull | Fidelity |
|---|---|---|
| Charting tools | Excellent | Excellent |
| Research | Good | Excellent |
| Customer support | Fair | Excellent |
| Mutual funds | No | Yes |
| Fractional shares | Yes | Yes |
| Physical branches | No | Yes |
Verdict: Fidelity wins for comprehensive investing. If you want a broker that handles everything—trading, retirement, banking, customer service—Fidelity is the better all-around choice. Webull wins on mobile experience and extended hours.
Webull vs. Interactive Brokers
| Feature | Webull | IBKR |
|---|---|---|
| Charting | Excellent | Excellent |
| Margin rates | 8.74% | ~5-6% |
| Global markets | U.S. only | 150+ markets |
| Complexity | Moderate | High |
| Best for | Active retail traders | Serious/professional traders |
Verdict: Interactive Brokers wins for serious traders who need low margin rates and global market access. Webull wins for traders who want professional tools without IBKR’s learning curve.
Start Trading on Webull — Free Account
The Trade-Offs
What Webull Does Well
- Professional charting for free — 60+ indicators, pattern recognition, multi-chart layouts
- Extended hours trading — 4 AM to 8 PM ET gives you more flexibility
- Paper trading — Risk-free practice with real-time data
- Clean mobile experience — Better designed than most competitors
- No account minimum — Start with any amount (cash accounts)
What Webull Does Poorly
- Customer support — Limited hours, no phone support for basic accounts, slow response times reported
- Margin rates — 8.74% is higher than IBKR (~5-6%), though comparable to or lower than some full-service brokers
- Research depth — Basic compared to Fidelity or Schwab’s analyst reports
- No mutual funds — If you want Vanguard funds, you’ll need another broker
- Chinese ownership concerns — Some users worry about data security (Webull is SEC-regulated and SIPC-insured, but the concern persists)
Who Should Use Webull
Webull is ideal for:
- Active traders who analyze charts before every trade
- Options traders who want free options trading with good tools
- Intermediate investors who’ve outgrown Robinhood’s basic interface
- Paper traders who want to practice strategies risk-free
- Extended hours traders who need pre-market and after-hours access
Webull is NOT for:
- Complete beginners who need educational resources and hand-holding → Try Fidelity
- Long-term buy-and-hold investors who don’t need charts → Try Vanguard
- Margin-heavy traders who need low borrowing costs → Try Interactive Brokers
- Investors who want everything in one place (banking, retirement, trading) → Try Charles Schwab
Best Alternatives to Webull
For Beginners: Fidelity
Fidelity Investments offers commission-free trading with better research, excellent customer support, and comprehensive retirement tools. If you’re new to investing and want a broker that will grow with you, Fidelity is the safer choice.
Switch to Fidelity if: You need customer support, want mutual funds, or prefer a full-service broker.
For Simplicity: Robinhood
Robinhood strips away complexity. If you find Webull’s charting tools overwhelming and just want to buy stocks without thinking about indicators, Robinhood’s minimalist design might suit you better. Read our Robinhood Gold review for comparison.
Switch to Robinhood if: You want the simplest possible trading experience and don’t care about charts.
For Serious Traders: Interactive Brokers
Interactive Brokers offers lower margin rates, access to 150+ global markets, and professional-grade everything. The learning curve is steep, but if you’re trading seriously, IBKR is worth the effort.
Switch to IBKR if: You trade on margin frequently, want global market access, or are building toward professional-level trading.
Final Verdict
Webull delivers on its promise: professional-grade charting tools, extended hours trading, and a polished mobile experience—all for $0. For active traders who want more than Robinhood offers without paying Schwab prices, it’s the best free option available.
But “best free option” isn’t the same as “best option.” If you need comprehensive research, excellent customer support, or low margin rates, you’re better served elsewhere. For a broader comparison of trading platforms, explore our guide to the best stock market research websites.
The bottom line: Webull is worth it for self-directed traders who know what they’re doing and want free tools to do it better. It’s not worth it for beginners who need guidance or long-term investors who won’t use the advanced features.
If you’re the right fit, there’s no reason not to try it—the account is free, and you can paper trade to test the platform before committing real money.
Frequently Asked Questions
Is Webull worth the money?
Yes, for active traders—and it’s free. Webull charges $0 commissions for stocks, ETFs, and standard options. The platform delivers 60+ technical indicators and extended hours trading that would cost $200+/year elsewhere. The optional Premium subscription ($3.99/month) adds Level 2 quotes and reduced margin rates, but most users don’t need it.
What are the best alternatives to Webull?
Fidelity for beginners and all-around investing, Robinhood for maximum simplicity, and Interactive Brokers for serious traders who need low margin rates and global market access. Each serves a different type of investor—Webull specifically targets active traders who want free advanced tools.
Webull vs. Robinhood: Which is better?
Webull is better for active traders who want charting tools, extended hours (4 AM - 8 PM ET), and paper trading. Robinhood is better for beginners who want the simplest possible interface. Webull offers 60+ technical indicators; Robinhood offers basic charts. Choose based on whether you analyze charts before trading. See our Robinhood Gold review for comparison.
How do I close my Webull account?
To close your Webull account: (1) Sell or transfer all positions, (2) Withdraw your cash balance, (3) Contact Webull support through the app or website to request account closure. Note that outgoing stock transfers cost $75. There are no account closure fees, but ensure all pending transactions are settled first.
Is Webull safe and legitimate?
Yes. Webull Financial LLC is registered with the SEC, is a member of FINRA and SIPC, and trades on NYSE, NASDAQ, and CBOE. Your securities are protected up to $500,000 by SIPC ($250,000 cash sublimit), with additional excess coverage. The platform is as regulated as Fidelity or Schwab—the “Chinese ownership” concern is largely about data privacy preferences, not financial safety.
Does Webull have hidden fees?
The main hidden cost is margin interest at 8.74%—high compared to competitors. Other fees include $75 for outgoing transfers, $0.50 per contract for certain index options, and regulatory fees (fractions of a penny per share). Commission-free trading is genuinely free for stocks, ETFs, and standard options.
Can I trade cryptocurrency on Webull?
Yes, Webull supports trading in 70+ cryptocurrencies including Bitcoin, Ethereum, Dogecoin, and Solana. Crypto trading is available 24/7 with no commission fees, though spreads apply. Unlike dedicated crypto exchanges, Webull stores your crypto in custodial wallets—you cannot transfer coins to external wallets. For traders who want crypto alongside stocks and options in one account, Webull offers a convenient solution, but dedicated crypto investors may prefer platforms like Coinbase that offer wallet transfers and staking rewards.
Does Webull offer retirement accounts?
Yes, Webull offers Traditional, Roth, and Rollover IRAs with commission-free stock and ETF trading. A standout feature is Webull’s IRA contribution match program, where they match a percentage of your contributions (terms vary by promotion). There are no account maintenance fees or minimum balance requirements for IRAs. However, Webull’s IRA options lack the mutual fund access and comprehensive retirement planning tools that full-service brokers like Fidelity and Schwab provide—making it best suited for self-directed investors comfortable managing their own retirement portfolio.
Is Webull good for day trading?
Webull is well-suited for day trading with 4x buying power on margin accounts, extended trading hours from 4 AM to 8 PM ET, and professional charting tools. The platform provides real-time Level 2 data (with Premium subscription), fast order execution, and a clean interface designed for active trading. However, the Pattern Day Trader rule still applies—accounts with less than $25,000 are limited to 3 day trades per 5 business days. Day traders using margin should note Webull’s 8.74% interest rate is higher than Interactive Brokers (around 5-6%), which adds up for leveraged positions held overnight.