Webull Review 2026: Pros, Cons and How It Compares
Webull offers low costs without skimping on advanced trading tools, but it may not be the best brokerage for investors who like OTC stocks or mutual funds.The investing information provided on this page is for educational purposes only. NerdWallet, Inc. does not offer advisory or brokerage services, nor does it recommend or advise investors to buy or sell particular stocks, securities or other investments.
Our take: Webull will appeal to the mobile-first generation of casual investors with its slick desktop and mobile interfaces, but the brokerage also offers an impressive array of tools for active traders. However, it lacks access to a few common asset classes.
Webull will appeal to the mobile-first generation of casual investors with its slick interface for desktop and mobile apps. The brokerage also delivers an impressive array of tools for active traders and a wide investment selection, including stocks (plus fractional shares), options, ETFs, crypto, commodities and futures. However, it lacks access to mutual funds outside of its IRA offering.
Where Webull shines
Low costs: Webull ranks among the best in terms of costs, with free stock and options trades and no fee on equity options contracts.
Advanced tools: Webull was built to be user-friendly for a mobile-first generation, but that doesn’t come at the expense of advanced charting and screener tools.
Webull Premium: Webull's Premium subscription offers some of the best rates on uninvested cash and margin loans of any broker we review, and also unlocks the highest IRA match of any broker we review, for a relatively low monthly or yearly cost.
Where Webull falls short
No widespread access to mutual funds: If you're looking for the easy diversification that mutual funds offer, you’ll only find it if you have an IRA through Webull.
Interest rate on uninvested cash: For those not subscribed to Webull Premium, the interest rate on uninvested cash is low at 0.5%.
Limited OTC stock offering: Webull only allows purchases of select over-the-counter stocks for an additional fee, and also charges an additional fee for foreign stock trades. If you like trading penny stocks or non-ADR international stocks, there may be cheaper options.
If you're after access to mutual funds or OTC stocks, consider these alternatives:
 Moomoo |  Robinhood |  E*TRADE |
Learn moreon Moomoo's website | Learn moreon Robinhood's website | Learn moreon E*TRADE's website |
What type of investor should choose Webull?
Intermediate traders: Webull isn't as advanced as Interactive Brokers, but you can do more than you can on Robinhood, a main competitor.
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, options traders will save money here.
What the Nerds think
"Webull has strong security features, such as two-factor authentication upon initial login, and a passcode system for quick logins. The funding process has also become more streamlined over the years: Webull now lets you link a debit card for instant transfers. I had an easy time buying a fractional share of the WisdomTree Bitcoin ETF (BTCW). The trading screen has a lot of information on it; it's not quite as streamlined as, say, Robinhood, and is a little more oriented toward experienced traders. When I initially opened my account, I had to click through a few disclosures and questionnaires before placing a trade, but I didn't have the same problem for this year's tests. All in all, it's one of the better trading experiences among apps we review."
Webull at a glance
Account minimum | $0. |
Stock trading costs | $0. |
Options trades | $0 per trade and $0 per contract on equity options. $0.30 to $0.50 per contract on non-equity options such as index options. |
Account fees | Annual fee: $0. Inactivity fee: $0. Outgoing transfer fee (partial or full): $75. |
Interest rate on uninvested cash | 0.5% for non-Premium users. 3.35% for Premium users. (APY for IRA accounts is 0.1%.) |
Number of no-transaction-fee mutual funds | Mutual funds only available via Webull IRA. |
Tradable securities | Stocks, ETFs, Treasury bonds, Options, ADRs, Crypto, Futures, Prediction markets |
Trading platform | Five: Web, desktop, two mobile apps (Webull and Webull Lite), APIs. |
Mobile app | Available for iOS and Android. |
Research and data | More than a dozen providers, including Benzinga, Nasdaq Total View, S&P, Dow Jones and CBOE. |
Customer support options (includes how easy it is to find key details on the website) | Customer support is available by phone from 9:00 a.m. Eastern time to 4:15 p.m. Email and an in-app help center are available 24/7. |
How to sign up for a Webull account
To sign up for a Webull account, you'll need to gather some information about yourself, such as your Social Security number and bank account information, and then head to Webull's website or app and choose an account type. Taxable brokerage accounts and IRAs are both available, and optional high-yield cash management accounts can be added to each.
Webull's sign-up process is fairly smooth, although the app once interrupted our reviewer with a questionnaire about their employment while they were exploring the trading interface. Webull offers provisional buying power on deposits — that is, you don't need to wait for funds to settle to start trading. It's a nice touch offered by only a few of the brokers we review.
What do investors say about their experience with Webull?
NerdWallet's evaluations focus on data we collect, like account fees, portfolio diversification, features and account minimums, as well as our own experiences with the products we review. We include two factors that directly address customer service: Support availability and contact methods, and website transparency, which our team assesses by looking for key information on the provider's website, just as a potential customer would. But customer satisfaction is harder for us to directly assess. To offer a more complete evaluation, we've used an AI tool to comb Webull reviews for iOS and Android. We then evaluate that data for consistent themes, both positive and negative. Due to the anonymous nature, we're unable to confirm these customer experiences as we normally would. The summary below is based on up to a year's worth of Webull reviews, ending February 2025.
Reviews for Webull's mobile app are mixed, with Android and iOS users having differing opinions. About half of iOS users rated it 1 star, and conversely, about half of Android users rated it 5 stars.
Positive reviews among both groups call out the app's ease of use, navigation and educational tools. Users say it's good for all types of investors, whether you're just starting out or are more experienced. Reviewers also praise the app's charting and technical analysis.
Negative themes center around slow fund transfers and withdrawal times. Reviewers also frequently complain about customer service being slow to respond. And heads up, iPad owners: iOS users have run into an issue where the display is formatted for an iPhone rather than a tablet, which they report creates a poor user experience.
What to know about Webull's fees
Webull's trading costs are among the lowest in the business. Stocks, ETFs and options are commission-free, and equity options have no contract fee, either. Webull only charges a modest per-contract fee between $0.30 and $0.50 on non-equity options, such as index options.
Webull charges no annual or inactivity fees and has no account minimum. It charges a $75 outbound ACATS transfer fee, which applies to both partial and full transfers, but that's a fairly standard amount among brokers we review.
Webull's trading platforms and apps
Webull excels at marrying the minimalist look and feel the mobile-first generation is accustomed to with the capabilities of a more advanced product. This also helps Webull achieve the somewhat unique feat of creating a platform that bridges the gap between intermediate and advanced trading, guiding users along their investment journey as they gain more experience.
Much like Robinhood, the app allows quick access with a passcode. Some brokers require you to re-enter your username and password frequently, while others have laxer security and keep you logged in even after long periods of inactivity. Webull's passcode system is a nice compromise between these two extremes. The 24/5 trading hours (8:00 p.m. Sunday to 8:00 p.m. Friday, Eastern time) are a nice touch as well.
How we nerd out testing trading platforms
Our reviewers — who are writers and editors on NerdWallet’s content team — hands-on test every online broker platform in our analysis. That way, we’re able to report on every aspect of the user experience, from funding a new account to actually placing trades.
We score each broker against a set of criteria that factor in both the capabilities offered and the actual user experience of trading with those capabilities. This includes how easy it was to sign up for and fund a new account. Note that a broker may score very highly for the platforms it offers but low for the experience of actually using that platform. These are scored separately in our analysis and weighted evenly when factored into the broker’s overall score. This means a broker can offer an advanced trading platform, but if it is clunky to use or the account-opening process is unnecessarily arduous, that will be reflected in its score.
Webull offers investors access to initial public offerings (IPOs) and over-the-counter (OTC) stocks for an additional commission. That puts it ahead of some brokers in terms of its trading platform's capabilities — but behind those that offer free OTC stock trades.
Over the years, Webull has streamlined its app experience to make it easier for new investors to navigate. It offers users a lot of information — chart widgets and screeners and whatnot — but it's relatively easy to find the "buy" and "sell" buttons. However, advanced investors might find those widgets and screeners somewhat disappointing compared to what's available from other trading-oriented brokers.
Webull's investment selection
Despite a robust offering for active traders, Webull lacks widespread access to some common securities, such as mutual funds — you can only access them by opening a Webull IRA. This may not be a dealbreaker for those saving specifically for retirement, but it may be a sticking point for others who would like to diversify holdings within their taxable brokerage portfolio.
Bond investors can buy Treasury bonds, corporate bonds and bond ETFs. Investors can buy fractional bonds for as little as $100. Webull charges 0.1% of the face value for bond trades, with a $10 minimum fee for corporate bonds — higher than many other brokers charge.
On the upside, Webull offers fractional shares of select stocks and ETFs — and provides cheap credit to advanced investors via some of the lowest margin rates in the business (ranging from 4.65% and 5.95% at the time of last update). It also offers commodities and futures trading, select cryptocurrencies, and a prediction market.
The "Wefolio" feature allows users to buy a customized basket of multiple securities in a single order — up to 30 securities at a time.
Worth mentioning: Webull’s robo-advising arm, Webull Advisors, which we don’t cover at length in this article, recently launched a managed bond portfolio that is available to everyday investors with a minimum start-up cost of $500 — well below the sometimes six-figure minimums needed to invest in automated bond strategies. Learn more here.
Crypto offering: For years, Webull users who wanted to invest in crypto had to download a separate app, Webull Pay. But now, Webull has brought crypto back to the main Webull app, making the sister app unnecessary.
For now, Webull offers six cryptocurrencies by default: Bitcoin, Ethereum, Litecoin, Solana, Cardano and Avalanche, and the ability to add more tokens manually. Its transaction fees (1% for buying or selling) and $1 minimum investment make it competitive with many pure-play crypto brokers, even if its investment selection is much smaller.
However, crypto investors who want to trade crypto pairs, stake their crypto or withdraw their crypto to an outside wallet will be disappointed: None of these features is available on Webull yet.
Other key Webull features
Webull Premium
Subscription offerings among brokers that give users access to things like additional data, lower rates and better interest rates on uninvested cash are becoming commonplace, but Webull takes it up a notch.
For $3.99 per month (or $40 per year), users get access to level 2 market data, discounts on index options commissions, savings on futures commissions, tiered margin rates that get as low as 3.9%, a 3% match on IRA transfers and a 3.5% match on IRA contributions. Premium users also get access to a higher APY on uninvested cash in a taxable brokerage account, currently 3.35%.
The downside of this is that users who don't opt into Premium will see their interest rate on uninvested cash drop to 0.5%.
For some, Premium may be worth it for the IRA match alone. With this product, Webull has undercut Robinhood in price (Robinhood's similar offering, Robinhood Gold, is $5 per month or $50 per year) and beat it on IRA match (Robinhood's is 3%).
Here's what that looks like on an account balance of $10,000:
With Robinhood Gold, the $50 annual fee amounts to 0.5%, and if you maxed out your IRA contributions in 2025, Robinhood would match $210. With Webull, your fee comes out to about 0.4%, and your match is $245. The differences aren't huge, but free money is free money.
Research and data
Webull has really stepped up its third-party research and data offerings over the last year. The app now offers research and data from more than a dozen providers.
Nasdaq Total View, Trading Central, S&P, Benzinga, Dow Jones, CBOE, OPRA, NBBO, CME Futures Levels 1 and 2, Hong Kong Level 2, OTC Markets Level 1, LSEG and Trading Central all offer news, research or data through Webull.
Customer support
Webull has no branches for in-person meetings and offers customer support only by phone during market hours, putting it at a disadvantage compared to some more established brokers.
However, online support is available 24/7. Webull has also built out an extensive bank of educational articles and webinars in the last year and boasts an easily navigable website. Adding to its educational offerings, Webull also offers all users a paper trading account where they can practice investing with $100,000 in play money.
Execution quality
Webull accepts payment for order flow (PFOF), which can result in orders being executed slightly slower or at slightly worse prices than at non-PFOF brokers — although its effects will be negligible for most investors. The PFOF business model involves routing customer orders through trading firms for execution, and the trading firms can use the customer order data to inform their own trading decisions. Webull says its execution quality is 97.81%.
The average execution quality of all brokers we review was 97.51% as of Oct. 15, 2025. That means 97.51% of orders sold at a price that was at or better than the National Best Bid and Offer. Executing at or above the NBBO means you may receive a price improvement or a better share price than you were originally quoted.
IRA account
Webull offers both Roth and Traditional IRAs and accepts rollovers. Webull IRA investors can choose their own investments or use Webull Smart Advisor, a robo-advisor. It's possible to opt into a cash management account within an IRA and earn interest on uninvested cash (although the rate is fairly low).
Occasionally, Webull will also offer to match a percentage of a retirement account balance that's been rolled over into an IRA, typically at about 3%. One major Webull competitor, Robinhood, offers an ongoing 1% IRA match.
Good to know about Webull
Extra fees for foreign stocks
Webull is one of the few brokers we review that offer direct access to stocks that trade on non-U.S. exchanges, but buying foreign stocks costs $5 per trade, and selling them costs $0.05 per trade. For international-minded investors, Interactive Brokers or Moomoo may be cheaper options.
Is Webull safe?
All investing comes with the risk of loss. Webull offers FDIC insurance through partner banks to protect cash deposits and is covered by Securities Investor Protection Corporation (SIPC) insurance, which protects brokerage accounts. These types of insurance don't apply to investment losses or price fluctuations. Webull is also regulated by the Securities and Exchange Commission to ensure compliance with securities regulations and by FINRA, which regulates broker-dealers.
Is Webull right for you?
If you’re a true beginner or if you’ve yet to build a well-diversified, long-term portfolio, there may be other brokers better suited for you. However, if you’ve got an intermediate level of experience, are interested in active trading or are hoping to improve your trading skills through advanced orders and technical analysis, Webull could be a good fit — especially considering its low price point compared with brokers with similar offerings.
More investment account reviews
Methodology
Methodology
How do we review brokers?
All NerdWallet reviews and lists of the best investing products are created by our editorial team of full-time writers and editors, independent of any business relationships. In this case, our investing team's comprehensive review process evaluates and ranks the largest U.S. brokers by assets under management, along with emerging industry players. Our aim is to provide an independent, balanced assessment of brokerages to help arm you with information to make sound, informed judgments on which ones will best meet your needs. Our highest priority is maintaining editorial integrity.
We collect data directly from brokerages through detailed questionnaires and conduct first-hand testing and observation through demonstrations. The questionnaire answers, combined with demonstrations, interviews of personnel at the brokerages and our specialists’ hands-on research, fuel our proprietary assessment process that scores each broker's performance across more than 20 factors. The final output produces star ratings from poor (one star) to excellent (five stars).
For more details about the categories considered when rating brokers and our process, read our full methodology.