10 Quick Ways to Make Money with Webull (2024)

FAQs

Is Webull a good way to make money? ›

Webull is a great fit for the following types of investors:

Active traders: If you're hoping to get more out of your investing than a buy-and-hold strategy, Webull could be a good choice. Options traders: With no cost to trade equity options, this is a solid choice.

Access Webull cash management to earn a 5.0% APY on uninvested cash in your Webull account. No need to open a new account. No fees attached. No minimum balance required.

Once you sign up with Webull, you receive free stocks. Once you open a brokerage account, you get a free stock that is valued between $3 and $300. After you deposit any amount, you get two more free stocks.

Cash Account: You can execute an unlimited number of day trades using settled funds. However, trading with unsettled funds may result in a Good Faith Violation (GFV). Margin Account: If your net account value exceeds $25,000, you can make unlimited day trades.

Webull matches its competitors when it comes to free stock/ETF trading and affordable options trading. It also shares their flaws, including subpar execution prices that indirectly boost your trading costs. CFDs are banned in the US. If you are a US resident, you will not be able to trade CFDs at Webull.

Webull does not require a minimum deposit to open an account and offers new traders a paper trading feature so you can practice trading with virtual money. You'll need to enter your email address when opening an account at Webull to receive a verification code and enter a password between 8 and 20 digits.

You can buy and sell as many securities as you like as many times as you like, every day. If your account value is less than $25,000, you can make up to three day trades per every five rolling business days. The Webull platform helps you keep track of those day trades.

Webull Financial is a member of SIPC, which protects securities customers of its members up to $500,000 ($250,000 for cash claims). For additional information regarding SIPC, including obtaining a copy of a SIPC brochure, please contact SIPC at (202) 371-8300 or visit the SIPC website at www.sipc.org.

Is Webull good for day trading? ›

Despite not having multiple order routing options or quality short locates, Webull does offer hotkeys and level II data. For this reason, many day traders will find Webull a decent choice for day trading.

Except for withdrawing funds to overseas accounts, Webull Securities does not charge handling fees during the process of withdrawing funds. Webull will not charge any fee on providing fund withdrawal service , all bank charges will be deducted from the withdraw amount.

Can You Day Trade With Webull? Yes, Webull allows clients to day trade – the act of buying and selling the same security within the same day – on its app. However, there are two things that anyone looking day trade stock needs to know first: the PDT rule and order types.

Why Do I Have to Maintain Minimum Equity of $25,000? Day trading can be extremely risky—both for the day trader and for the brokerage firm that clears the day trader's transactions. Even if you end the day with no open positions, the trades you made while day trading most likely have not yet settled.

Please be aware that any day trades made while your PDT reset request is being processed will still count toward your day trade count the following day. Executing more than three day trades will immediately reclassify you as a pattern day trader.

Webull Cash Management service protects your funds through FDIC insurance. The uninvested cash in your brokerage account (cash intended for investing but that you have not yet invested) is swept to program banks, where it becomes eligible for FDIC insurance up to $250,000 per program bank ($1,250,000 in total).

Webull is an excellent choice for beginning and intermediate traders. The user experience is outstanding, and Webull has better charts than its natural competitor, Robinhood. Options contracts are commission-free and futures prices are very low, but crypto markups and markdowns are on the high side.

The stocks in your Webull account are held in 'street name' through Apex Clearing. This means that the brokerage firm holds your securities in its own name or under another nominee, not directly in your name. However, they maintain records that identify you as the real or 'beneficial owner' of these securities.

Robinhood and Webull both offer a taxable brokerage account, but neither provides access to a custodial account. Both Webull and Robinhood let you trade on margin. As of May 2024, Robinhood offers better rates on accounts smaller than $3 million. Webull offers better rates on larger accounts.