In this Webull review, you will learn how to get started investing and why Webull is the right app for every investor.
The dawn of smartphones seems to have been a big leap forward in the development of mobile apps. There are thousands of applications on both Google Play Store and Apple's Appstore, where people can download many interesting things, such as games or portfolios for day-to-day activities.
One application which has gained popularity lately is Webull. This app provides professional stock charts with technical analysis tools for traders all over the world. It also offers free stock trading without fees to the users who registered via individual broker accounts. The goal of this post is to present you an honest Webull review so that you could decide whether this application is worth your attention or not.
How Webull Makes Money
Webull app comes with the usual way of making money by online companies. First, there are no fees when using Webull to trade stocks or ETFs worth up to $1000 (there is an inactivity fee after six months). When you want to withdraw your assets, you need to pay a small amount in order for them to transfer it into your bank account.
The other way that Webull earns funds is by taking advantage of customers who enter their credit card information when opening their individual trading accounts (USD 9.99 monthly charge). This is how Webull makes money – they will charge your credit cards every month until you cancel your subscription by contacting their support team.
Understanding Why People Use This Application
Nowadays, there are many similar apps, so why would you choose Webull? There are several good reasons for this; first of all, they provide services to people who live abroad and would like to trade on US stock market.
Second, the application is quite close to an official stock trading platform (e.g., desktop version). Trading in it is intuitive, so there is no reason for you to worry about not having enough experience.
What Can Be Done with the Application?
Now that you know how Webull works, let's see what functions are implemented into this app. First of all, when opening the page, you will find an interactive chart with several technical indicators (e.g., 50-day SMA). What makes this tool outstanding compared to its competitors is a possibility to draw lines which would make your predictions come true instead of guessing by yourself, you may use other investors' opinions who have already predicted certain trends on stocks or choose one of yours if you believe in something else.
Furthermore, there are many features available inside the application which can significantly improve your trading skills. For example, there is a possibility to draw Fibonacci lines or use other tools that traders usually use on their market desks (e.g., triangular patterns).
Webull prediction system whose accuracy has been tested by thousands of people worldwide:
Being in the Forex industry for years, Webull developers have noticed lack of educational materials available on the Internet. That's why when creating this application, they decided to add their own function which would help novice investors to understand how does free stock trading work. The answer to this question can be found in the ‘prediction layer' feature that provides latest market insights about future stock price changes.
The accuracy of this prediction system has been tested by several thousand people and it proves to be around 70%. However, keep in mind that it is just a tool whose results can differ from what you will actually observe on the market. It only shows possible chances for certain stocks to change its price based on latest events or analysis made by stock market experts.
Can You Invest in Crypto Using Webull?
Yes, you can! There are more than 3000 cryptocurrencies offered in Webull app. If you are not familiar with it yet, the price of most coins is extremely volatile. This means that there are high chances to become a millionaire in less than 24 hours.
Another advantage is that it is available for free all over the world, no matter where are you are located or what mobile phone provider do you use, once you install this application on your Android/iOS device, you will be able to follow market changes and start day trading cryptocurrencies whenever You want.
What about data privacy?
As mentioned above, by signing up with individual broker accounts, every user needs to enter their credit card details. However, this will never be shared with any third parties whatsoever. As a matter of fact, Webull has invested quite a lot in keeping your data safe and secure by using the latest SSL certificates and encrypting all their servers with bank-level security.
Is Webull right for You?
People who think that this application will give them an opportunity to become millionaires overnight are wrong. It is true that you can find promising coins when investing in cryptocurrencies (for example EOS or TRON), but there is no such thing as easy money.
If you want to make some side cash while having fun, Webull would be great for you! However, if you are looking for a tool which will provide money without any effort on your part, we do not recommend joining this service.
Advantages of Using Webull
First of all, it has an outstanding performance when it comes to charts and graphs. As mentioned above, there are hundreds of traders who would like to know how the stock is doing every minute in terms of price changes compared to regular weekly or monthly intervals.
With Webull, this information can be easily visualized in a user-friendly way so that no additional effort is required from the trader's side in order to understand what he sees on the screen. Thanks to the innovative charting system, even beginners could find their way around in seconds or minutes, depending on their previous experience in trading.
The next benefit is obvious, it's saving money by avoiding brokerage fees.
Almost all brokers charge extra fees for using their platforms, according to the volume of traded stocks. In this regard, Webull is free of cost and all transactions are processed in-app without additional expenses for its users.
This Webull review continues mentioning the simplicity of creating an individual account. Signing up can be done in less than 2 minutes since no advanced verification process is necessary due to security reasons (more on that at the end of the article).
Few Cons of Using Webull
Now, let's consider some disadvantages which must be mentioned when talking about Webull review. For example, there is no support communicate with other traders or platform representatives directly communicate with them. It could be useful when you have certain questions or issues that need clarification.
A community would give its members opportunity to share their experience and help each other – not to mention additional revenue from advertisements.
Webull's stock scanner is another issue many traders complain about. The functionality of the tool needs to be improved since it doesn't offer enough details and relevant data so that a serious trader could make his choice based on all available information regarding listed stocks.
There is also no option for advanced technical analysis which should be implemented as well in order to give its users full control over their investments.
As far as other issues are concerned, we can say that Webull review faces some challenges when it comes to security and protection of personal and financial data transmitted through the app. There was no news regarding potential vulnerabilities exploited by hackers but there's always a chance such thing could happen in if proper measures aren't taken immediately.
Being an innovative and powerful trading tool for all kinds of traders, Webull still has to work on some issues in order to win the trust of its users. Potential dangers could be prevented thanks to implementing high-level security features such as two-factor authentication (2FA).
Is Webull Worth Trying?
Webull app is not for everyone. It's an ideal choice for those who have some experience in trading, because they will find it easy to use. On the other hand, if you are just starting out with stock market, then there are better applications that could help you learn how to trade properly.
Also note that many people complain about credit cards being overcharged by Webull and there is no easy way to cancel your subscription online. It's probably best to avoid those issues by creating an individual trading account, not a free app that automatically charges you credit cards for its services.
At the end, we would like our readers to know that this app offers a free seven-day trial period during which they can test it without giving any credit card details so that they could decide whether or not keep using it after the test period expires.
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