In this Webull review, we look at the broker’s history, shorting and margin, fees and pricing, the free stock promotion, platform pros and cons, mobile app, Webull vs. Robinhood, safety, and if they are the right broker for you.
Webull has a free stock promotion, giving away multiple free stocks with a top-end value of up to ~$1,600 each for free on an initial deposit of $100 or more. But is this stock as good as it claims? Companies that have previously given out these kinds of stock promotions have quickly ended up on the verge of Bankruptcy. Is Webull able to handle the influx of traders with zero earnings in the form of commissions?
What Is Webull? (2026 Review)
Webull is a broker for trading stocks, ETFs, and options. It is also growing in popularity in the trading community because it offers its customers a free stock promotion. This is where new users can receive free stocks if they open and fund their accounts with an initial deposit of at least $100.
The US-based fintech startup offers its customers zero fees and discount brokerage services if you’re asking if it’s safe to use Webull, yes.
The SEC (Securities and Exchange Commission) and FINRA (Financial Industry Regulation Authority) regulate the broker.
Our Webull review found $0 commissions on stocks, ETFs, and options, extended hours from 4 a.m. ET, and a deeper charting toolkit than most app brokers.
History
The Webull app quickly became a hit with our Facebook group users, and we noticed that more and more Robinhood stock traders were beginning to try them out…and like them!
Some even jumped ship. The main reason is that Webull provides many more charting and platform features than the Robinhood web platform. Webull has a software program for your desktop, whereas Robinhood does not.
The CEO, Anthony M. Denier, has global brokerage service experience working with multiple big-name firms such as Credit Suisse.
The reputation and direction of the company are solid, as you’ll see in our Webull review. We’re giving you the green light to use them if you’ve been on the fence; it’s time to try them.
The major draw of the company is the commission-free trading in well over 5,000 different stocks and ETFs. Also, they have forex and futures! People on Robinhood trading options may also want to look at Webull.
Unfortunately, there is no crypto and only limited OTC stocks. As well as mutual funds and bonds, but they are always working on adding more securities.
The options trading feature is now available, and the whole team is stoked about it, as it commissions free options trading to compete against Robinhood.
Pros & Cons
- Pros
- No commissions on stocks, options, and ETFs
- Their platform is easy to use
- Paper trading platform included
- Several investment products to choose from
- Fractional shares available
- Cons
- No mutual funds
- Educational content is subpar
- No international trading
Webull Pricing (2026 Fees & Costs)
- Stocks, ETFs, and Options – $0
You can visit Webull’s website for updated pricing here. (Updated 3/26).
Yes, Webull is free. The fees add up with other brokers, and for active traders with large or small accounts, this is a nice way to grow your account while not paying the buying and selling fees. Another great feature is no account maintenance, platform, or data fees.
That’s right, there is no special upgrade to get you into a free app and charge you for more features. You get what you get, and there are no surprise fees. Webull foots the bill.
Furthermore, there are no minimum charges to open or maintain your account. That is huge for new traders and investors just learning stock trading.
| Types | Fees | Rule | Charged By |
|---|---|---|---|
| Regulatory Fee | $0.000166 * Total Trade Volume Min $0.01 per - Max $8.3 per | Sells Only | Financial Industry Regulatory Authority (FINRA) |
| CAT Regulatory Fees | $0.000024 * Total Trade Volume | Buys & Sells | Webull. Passthrough fee charged by Webull is then paid to regulator |
Pricing Breakdown
| Types | Fees |
|---|---|
| Low-Priced Securities (for transactions in excess of 100,000 shares priced under $1.00/ share) | $0.0002 per share (maximum 5% charge of principal value) |
| F-stocks (foreign settlement) | Buys: $5.00 per trade Sells: $0.05 per trade |
| Illiquidity Charge | Additional fees and interest may be charged for trading activity that triggers an NSCC illiquidity charge, as determined by the NSCC. Minimum Overnight Interest Rate: 15% Fee: $250 |
| CAT Regulatory Fees | Buys & Sells: $0.00000026 * Total Trade Volume |
Webull uses state-of-the-art security measures when handling your information. Everything is encrypted and never shared with advertisers. Also, I noticed that when you forget your password, they have a great two-factor system to get your password reset. Customer service is very responsive to emails. I have no complaints whenever I have a question!
Webull Features and Trading Platform
Shorting Stocks
Webull also has low trading fees, and the fee structure is transparent and easy to understand. The company also charges its customers a financing or margin rate when they trade on margin or short stocks. Margin rates are tiered and change with interest rates. And the financing rate is volume-tied. The higher your debt balance, the lower the financing rate will be.
Also, Webull doesn’t charge any fees for its options trading, and it also doesn’t charge its customers anything for inactivity.
The base currency for Webull is USD, which is ideal for people with an account in USD because they won’t be charged a conversion fee. If you don’t have a USD account, then you will be charged for conversion fees.
Mobile App
Webull’s mobile app has become so good. The tools available and the overall user interface are not comparable to Robinhood.
Take a look at the video below for some proof of this. It gives you so many different scanners and insights into the stock market. It’s all very nicely organized in a “market update” kind of feel. Very intuitive and easy to navigate. Bravo Webull.
You must note that the free stock reward is completely random and based on a lottery system. The free stock will also be credited to your account within five days of being claimed.
And the broker also cautions that stock price fluctuations may alter these changes. Therefore, it’s not risk-free.
Webull Free Stock Promotion
The best way to get the Webull free stock promotion is by opening an account and funding it with $100 on your initial deposit. The free stock will be between $8 and $1600. Remember, you must fund your account within 30 days. The more friends you refer, the higher your chance of getting a free stock valued at $1400. If you get three people to deposit $100 into Webull, you will receive nine free stocks! If you get three users to join the Webull platform, you’ll also receive three additional free stocks.
Sign-up is straightforward; you must sign up with an email address or phone number. You download the app, which is available on iOS and Android, and then fill in all the typical account brokerage information. Once you’ve filled in all the information correctly, your account will be available in a few minutes.
The type of account you decide to open is essential as well. If you choose to open a regular cash account, there is no minimum balance requirement, but if you opt for a margin trading account, you will have to put in $2000 as the minimum balance.
All you need to do to refer your friends to be a part of the Webull stock program is to go to “my free stock” and check the terms for the invitation bonus, and then you can click on refer my friends, where the app will generate you a tracking link that you can send to your friends to sign up.
IMPORTANT! You must make an initial deposit of $100 once the account gets approved. Once you make the deposit, you are now eligible for the reward.
Free Stock Reasoning
It is natural to wonder why Webull would offer its customers so much and what Webull could have gained from such offers.
Webull is a relatively new brokerage company founded in 2018 and based in New York City. The brokerage uses this strategy as a means of customer acquisition to compete with the large and major players in the industry.
It’s no secret that the brokerage wars are hot right now. All major brokers compete heavily for your business and are willing to do anything to get you to join.
That being said, companies often use this strategy all around the globe to acquire new users and gain market share in the brokerage industry.
Webull is also using this strategy to compete with industry players like Robinhood. New FinTech brokerages have taken the industry by storm, and they have also been able to cut down on fees massively. Webull has zero commissions for trading stocks and ETFs.
Fintech firms like Webull make their money by offering paid subscriptions to market quotations and making around $4.99 monthly or $53.99 a year.
Webull is also aware that specific consumers will be interested in their premium services. The number of consumers interested in their premium services will help them recover the initial investment to provide them with free stocks. It’s probably a tax write-off or marketing fee for them to offer the free stocks to you, so it’s a win-win.
The home screen is among the best in the industry.
Is Webull Free Stock Worth It?
Webull sounds limitless with what they offer. You’re probably like us, realizing they might be an excellent brokerage with the most advanced technologies.
But it still has some limitations. These limitations, however, are not uncommon, and almost every brokerage has one limit or another.
While you can trade over 5000 stocks, options, and ETFs, you cannot trade over-the-counter stocks, mutual funds, or bonds. You are also limited to market, limit, and stop-limit orders. For the general investor, this is not a deal breaker.
The trading on this brokerage also has an extended hours option, both premarket and after-hours. It’s among the best in the industry, allowing you to trade at 4 am EST (premarket).
The platform may not have any commissions on trades, but it still has fees. The SEC and FINRA charge a fee, and Webull passes it on to its consumers.
You can only use bank transfer (ACH) for deposits or withdrawals; no credit cards or electronic wallets are provided.
While the brokerage provides call support and customer care services, these services are hard to reach, with mixed support quality/response times. Sometimes, getting a rep on the phone may take 15 – 45 minutes. You’ll be notified of what number you are in the queue when you call, which is nice.
The wire transfer fees are also considerably higher, so if you’re in a rush to withdraw or fund, you’ll pay extra.
In summary, the promotion is an excellent opportunity for everyone. You should at least try out this platform and fund it with a modest amount, even if you don’t win stocks worth $1600 (we’re looking at you, $GOOGL!).
Important Information
According to the website, there are a couple of facts that you need to know about the free stock promotion on offer right now.
The stock price is subject to fluctuations in the stock market, and during the activity, customers will only get free stock for opening their first brokerage account.
The reward program inventory is also composed of stocks with a minimum market capitalization of $2.5 billion, and these stocks are listed on either the NYSE or the NASDAQ listed markets. The current program inventory is also composed of widely held, widely recognized brand names, and also of consumer and service-related industries.
The Deposit Bonus Promotion only applies to the Webull cash and Margin accounts. You are not eligible for the promotion if you register for any other account, such as the Webull IRA account. You will win something; getting something is always better than getting nothing. There are no fees if the account is inactive or dormant; therefore, you don’t have to worry too much. This makes it a great broker for casual traders or long-term investors.
The Webull Mobile platform has all the indicators you need! We love Ichimoku and MACD for swing trading.
View Updated Webull Financial Statements Here
Webull Alternatives
- Robinhood
- Moomoo
- Public.com
- TradeStation
- Interactive Brokers
Webull Customer Reviews
Webull has approximately 365 customer reviews on Trustpilot with a 1.3 TrustScore (Bad as of March 2026).
Bottom Line: Is Webull Worth It?
We’ve been using Webull for most of the last few years and wish we had tried it out sooner. The user interface and market data are quick. Orders execute fast enough for day trading and swing trading.
However, it would be best to be extra careful when trading volatile stocks, especially low floats. For the investor and swing trader, it’s a no-brainer. There are plenty of indicators for an experienced trader, though there are fewer than some of the bigger names.
Our Webull review concludes that it’s a strong pick for active investors who want zero-commission trading, robust charts, and generous promos—just read the terms, know the fees that still apply, and trade within your risk limits.
Frequently Asked Questions
Webull and Robinhood are both reputable and good companies. They each offer their positives and negatives. Robinhood doesn’t offer a simulator, and Webull does. Webull also has some better tools than Robinhood.
Regarding safety, Webull is considered a safe program because top-tier financial authorities regulate it. They provide a maximum of $500,000 in investor protection, including a $250,000 limit for cash as part of the SIPC protection scheme. The company is also the broker-dealer arm of a Chinese company called Hunan Fumi Information Technology Co., founded in 2016 with an angel round of funding led by Xiaomi, a massive mobile electronics company.
Traders can make $100 a day or more using Webull if they know how to trade. They need to learn about support and resistance and have a proven trading strategy.
One of Webull’s biggest drawbacks is that only a small number of individual accounts are available. You’ll need to opt for a full-service brokerage from a well-established firm like Schwab, Fidelity, or others to open joint retirement accounts, custodial accounts, or self-employment retirement accounts.
