- How's it going today guys, welcome back to the channel.
I hope you guys are having a fantastic day.
So, in this video here we're going to be doing a review
of the investing platform Webull.
It's kind of a small investing platform.
They're an up and coming platform.
They used to be strictly a research platform, but now
they're a full-blown brokerage.
A lot of people have been asking about this platform,
and so I'm going to be doing a review of this today.
strengths of this platform, and where this
platform might be falling short.
If you guys sign up for Webull with the link in the
description below, you're going to get a free stock
valued at up to one thousand dollars.
It's and affiliate link, you guys do not have to use it.
If you want to use somebody else's link, not a problem.
But if you are going to sign up for Webull,
make sure you use somebody's link that way
you're going to get that free stock.
You don't have to fund the account, all you have to
do is open the account and once your account is verified
you're going to get a free stock
worth up to one thousand dollars.
And like with all the reviews I have done in the past,
if you guys are looking to skip ahead to a certain section
I am going to leave a pinned comment down below where
you guys can skip ahead to certain sections of this
review if you're just interested in
one certain topic of this review.
Let's get right into it and start off by talking about what
is the Webull investing platform.
Webull is very similar to both Robin Hood and
M1 Finance, more so similar to Robin Hood than M1, 'cause
M1 is kind of a hybrid between a
robo advisor and a brokerage account.
But it's very similar to Robin Hood.
They offer 100% free trading, it's an application, they
do not have a web based platform.
That's actually one of the cons
we're going to talk about later.
But they're very similar to Robin Hood, but what you're
gong to notice is that this is a
much more sophisticated platform.
Robin Hood is geared towards beginners, it's supposed
to be extremely simple, very easy to understand, that
way anybody can jump in and begin investing without
having this huge learning curve of learning this platform,
whereas Webull is more of a sophisticated platform.
So while Robin Hood is better for beginner investors,
Webull is better for intermediate or advanced
investors who are looking to conduct
more research, have access to more charting.
So that's kind of the difference there
between Robin Hood and Webull.
So the Webull app provides investors with global
financial data and also a trading service.
Like I said, they used to be just a research oriented
platform, but now they offer that trading service as well.
They offer quotations in over 90 countries
and over 100 global exchanges,
but the one thing that is important to note here is that
they offer real time data on the US markets for free.
But if you are interested in that global market data,
you're going to be paying for that on a monthly
subscription basis, and it is different how much you're
paying based on what market you're looking to get data on.
Now there's one thing that really sets Webull apart
from other free investing platforms out there.
And that is the fact that you can
short sell on Webull commission free.
It is one of the only free platforms out there that
one, supports short selling and two,
allows you to do this commission free,
but there are some things that are missing from Webull
that you would have with Robin Hood.
Specifically the ability to trade options,
or invest in cryptocurrencies.
You are not able to do that on the Webull platform,
so options traders, they tend to prefer Robin Hood,
but if you are somebody who's interested in short selling;
personally I'm not a short seller, but if you are interested
in short selling Webull is a platform that allows you
to do this completely commission free.
Okay, moving on second of all what are the investments
available to you through the Webull investing platform.
Well you have access to over five thousand
different stocks and ETFs in the United States.
You have the ability to do free short selling,
but there are no options, no mutual funds,
no over the counter stocks, no bonds, no cryptocurrencies.
So you are limited to just the individual stocks and
the ETFs supported by Webull, and then something else
worth mentioning as well here is that the actual account
you can open, you're only able to open either
a cash account or a margin account.
There are no custodial accounts, or any types of
retirement accounts and that's pretty much the same
as it is with Robin Hood as well.
You just have the option of those two accounts.
Now, one thing that is different about Webull is the
fact that you have access to up to four times your deposit
in margin without paying for a monthly subscription, so they
offer margin through Robin Hood Gold through
the Robin Hood platform and you pay for
that as a monthly subscription.
With Webull, you would get access to that margin and
all you're paying is that margin interest.
You're not paying any kind of ongoing monthly subscription.
So that is one difference there between
Webull and the Robin Hood platform.
Okay, so what are the requirements
to begin investing with Webull.
Well first of all you have to be 18 years old and
you have to have a social security number.
So yes, you have to be a US resident.
To open a cash account there is no minimum account balance,
there are no trading commissions of any kind.
If you want to open a margin account there is
a $2000 minimum account balance to get started
with a margin account, but beyond that they do not
charge any trading commissions, they do not
charge commissions for short selling.
And another key benefit here to Webull is that they also
offer extended hours trading, so if you're looking to
trade before the market opens and after the market closes,
that is something that you have to pay for with
Robin Hood; it's part of their Robin Hood Gold service.
However, if you want to do that for free,
you are able to do that through Webull.
So that is another difference there between Webull
and Robin Hood is the fact that you have that access
to extended hours trading completely free.
So moving on now what are the pros
of the Webull investing platform?
Number one, the first one is the fact that they have
some advanced charting, not just a line chart.
That is one of my gripes towards Robin Hood, but again,
it's not really a gripe because that is
what the platform is designed for.
That is meant to be the most simple investing platform
out there, one that literally anybody can get started with
and be able to grasp what is going on.
The Webull investing platform is not for beginners,
it's very complicated and if you are completely new to
investing and you open up the Webull platform,
you're going to be overwhelmed because there
is so much information in front of you.
So they both have a place here, the Webull platform
is for more intermediate or advanced investors, and
Robin Hood is definitely a great platform for beginners
because it is so simple and easy to understand.
But like many things, over time you're going to outgrow
that simplicity and you're going to want more and so
you are going to get a lot more data, a lot more charts,
a lot more research tools with the Webull platform.
Number two, the second pro is the fact that with Webull
you get free short selling if that's something
that interests you, and you also get
free access to extended hours trading.
Number three, they do have a news stream
where they have updates there where you can get
news surrounding certain stocks.
Now personally, I have not used the Webull investing
platform, but one thing that was mentioned in a review
is that you can often times get a lot of updates in
that news feed, 30 or 40 different news articles and
it can be a lot, maybe a bit overwhelming.
That's nothing I've experienced myself
because I have not used that platform.
One thing that I will say having read a lot of reviews
is that the platform itself is a little bit clunky.
It's not as slick as the Robin Hood platform,
and that is simply because of the fact that this
is a much smaller brokerage company than Robin Hood,
and so if you are looking for that seamless app,
the sleekness of the app you're probably not going
to experience that with Webull.
You're going to notice that maybe it's not as aesthetically
pleasing or as easy to use as the Robin Hood app,
but if those are not things that you are concerned with
then you would most likely be satisifed with what
Webull has to offer through their platform.
Another big pro for Webull is that they have
a free built-in trading simulator.
I'm surprised that other brokerage
companies have not done the same thing.
This is very handy and it's something that I actually
recommend to people before they start investing
in the stock market with real money.
There are apps out there where you can do paper trading,
but Webull has this built in where you can do free virtual
trading, and basically trade with fake money,
just virtually just to test your strategy and you're
able to tell whether you're making good decisions
or bad decisions without risking your money.
So that is definitely a pro, something that I really
like about this platform is that you can use that
virtual trading simulator completely free,
and it's a great learning experience for new investors.
Another pro is that with the Webull app
you are able to set price alerts.
So let's say for example you're looking to buy a stock
at a certain price and you want to be
alerted when that stock hits that range.
You can set price alerts that way you'll get a notification
when that stock is at that price.
Another pro is that they have a financial calendar
which is a really handy tool, and when you open that up
it's going to show you what the upcoming
IPOs, Initial Public Offerings are.
It's going to show you what companies are reporting
earnings over the next month, and what companies are
paying out dividends, so that is a very handy calendar
to keep track of your investments and to see what
companies have important dates coming up.
Another pro, a big difference here between Webull and
Robin Hood is that Webull does offer phone suport.
You're not going to get phone support with Robin Hood,
all their support is handled through email,
or some kind of online method, but with Webull they
have set hours where you can contact their support number,
and you can get somebody on the phone to help you out
with your support related questions.
Definitely a big pro there.
And then another pro is that you do have very easy
access to margin up to 4x margin.
Now personally, I don't recommend using margin,
I don't use margin myself, I'm not a short seller either,
but if these are things you are looking for,
these are things that Webull offers.
So those are the pros of the Webull platform,
moving on now what are the cons.
Number one the first one is that they only
have this application based platform,
they do not have a web based platform.
Now I know Robin Hood is in the process of
rolling out their web based platform.
They may have rolled it out to everybody,
but Robin Hood does have a web based platform.
Webull you are just limited to using
the application on your phone.
Second of all, because this is a new platform,
because this is a lower budget platform,
there is some friction.
You're going to have some friction with this platform,
maybe not such a great user experience,
and this just comes to the fact that they
have loaded so much into this app.
It is not as user friendly as Robin Hood,
but if you don't necessarily care about
the sleekness and the design of the
app then this really wouldn't bother you.
Number three, as we mentioned earlier
this is not a beginner friendly app,
but it's not designed for beginners,
but if you are a beginner I would not recommend
looking at Webull because it's just going to be
so much information coming at you at once.
It's gonna be information overload.
So it's definitely for intermediate or advanced investors.
Number four, a con which applies to both Robin Hood and
Webull is that there are no retirement accounts,
you're only options are the traditional
cash account or the margin account.
And then number five, the fifth con here is that there
is no portfolio guidance of any kind,
so it's basically up to you to build your own portfolio.
There are no pre-built portfolios you can invest in.
And if you guys are interested in some kind of
pre-built portfolio or guidance surrounding your investment,
I would recommend watching my reviews on both Betterment
and M1 Finance they are both linked
up down in the description below.
So, moving on to wrap this up here,
who is Webull for and who is Webull not for.
Webull is designed for intermediate or
advanced research oriented traders,
people who are more active,
maybe they're trading in and out of
stocks on a weekly or a monthly basis.
It's for people who are more active and they are trading,
not so much investing.
You can be a long term investor with this platform,
but there is so much information coming at you at once,
that it might shake you out of your position,
and that is why I wouldn't really be a
long term investor with the Webull platform.
Webull is not for beginners.
It's not really designed for long term passive investors.
It's designed for people who want the information,
they want the charting, they wanna do research,
and they're typically gonna be
more active with their trading,
and they're trading in and out of
stocks on a more consistent basis.
But anyways guys, those are my thoughts and feelings
about the Webull investing platform.
Like I said, if you guys wanna sign up for this platform,
I have a link in the description below.
It is an affiliate link, you do not have to use it,
but if you do, you are going to get
a free stock worth up to one thousand dollars.
You don't have to fund the account,
all you have to do is open it,
and once your account is verified,
you're going to get that free stock.
And if for any reason that promotion has changed or stopped,
I will leave a note down in the description below.
But as of right now that deal is still going on,
where you can get that free stock.
Thank you guys so much for watching,
I hope you enjoyed this video,
if you guys are using the Webull platform
and you have any thoughts to share with us,
drop 'em in the comments below.
But otherwise I will see you guys in the next video.
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