Webull is an online discount brokerage offering commission-free trading, retirement accounts, crypto currency trading, and margin trading.
However, many of the best online brokerages offer a wider range of investment options than Webull, which is better suited to new investors interested in active trading..
Webull is a no cost broker, not a low cost broker. The company offers commission-free trading in stocks, ETFs, and listed options, and it does not charge a fee for account minimums or for its robust platforms and tools.
It is a Chinese-owned company with headquarters in New York and operations recently expanding to Hong Kong and Singapore. It is a relatively new online broker that was formed in 2017.
This mobile-first launch in May of 2018 was reflective of Webull’s most important target market: millennia’s. Today, it has over 10 million users across the U.S. and around the globe.
Webull is positioning itself to serve newer and more active traders and investors, and others drawn to a platform offering a broad range of services for free, including no account minimums, commission-free trading of stocks and their options, and multiple crypto currencies.
Webull does skew towards the self-directed investor, with a less comprehensive offering than full service competitors. That said, Webull customers get a lot of bang without the buck: a nice platform with a wide range of helpful tools and features, along with competitive margin rates.
How Does Webull Work?
In general, it is best suited for active traders that are in search of significant data and research tools to identify opportunities in the market. The platform was built for those that use technical stock analysis and rely on chart patterns to make buying and selling decisions.
Now that you have a basic understanding of the Webull platform, you have the tools you need in order to get started investing.
As you progress through the various features that this site has to offer, feel free to read through the other articles on Investing Simple.
There’s a ton to learn about the stock market, but Webull offers you many avenues to become more informed and track the stocks in your portfolio.
You can have an account today on Webull and start trading and investing in stocks/ETFs on your mobile or website. Register and sign-in , to have an account click here.
How to withdraw Money from Webull
There are different methods or options which you can withdraw money from your account.
- Withdraw money by ACH
The first, and most common, withdrawal method from Webull is an ACH transfer. An ACH transfer is the standard type of bank transfer that most people are familiar with. The site allows you to withdraw via ACH transfer on both the mobile app and website. It doesn’t charge any fees for an ACH withdrawal.
When you want to withdraw money from your account through ACH, there are few steps you will have to complete before you would be able to successful make a withdrawal from your account.
An ACH transfer typically takes 1-3 business days to be completed and for the funds to show up in your bank account.
Note Webull has a maximum daily limit of $50,000 for ACH transfers.
- Withdraw money by Wire
The second withdrawal method is a Wire transfer. You can complete a Wire transfer on both the mobile app and website. Webull allows Wires to both U.S. bank accounts and international bank accounts. The fee for an outgoing Domestic Wire is $25 and the fee for an outgoing International Wire is $45.
A Wire transfer is usually the quickest way to withdraw your money from Webull. Domestic Wires have a processing time of 1-2 business days before Webull initiates them. You just have to follow the steps on your account to make a wire transfer to your bank account successful.
Note Webull has no maximum dollar limit for Wire transfers.
- Withdraw money by ACATS
The third withdrawal method is an ACATS transfer which is used for withdrawing securities. The ACATS system is the system used to transfer assets between brokers. If you want to transfer all or part of your account from Webull to a different broker, you will need to request an ACATS transfer.
Therefore, you will want to contact the broker you are transferring your assets to in order to get help starting the ACATS transfer. And it can only be initiated by a receiving broker.
Webull Daily Withdrawal Limit
The maximum amount per day for ACH deposits is $50,000 and it is the same for ACH withdrawals. Wire transfers are not a free service. Wire transfers have no maximum transfer amount per day on Webull.