Webull is one of the most popular brokerage platforms in the world. They have no commission and there is no minimum deposit. You can trade with ETFs, stocks, options, and cryptocurrencies. The whole platform is user-friendly and easy to navigate, and figuring out how to buy stocks on Webull will not be that difficult. Nevertheless, in this guide, we will show you how to do it in simple steps.
To buy stocks on Webull, you must open an account and provide your e-mail, SSN or ITIN. After funds are transferred to your account, you will be able to trade stocks on Webull.
To learn more on how to buy and trade stocks on Webull, keep reading and find out in this article.
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What Can You Trade on Webull?
Ever since it was launched in 2017, people started to wonder how to switch from Robinhood to Webull, and for a good reason. Webull has established a brokerage platform and app that is easy to use and navigate. Another thing that makes Webull so popular is its low costs – Webull offers free stocks and options trades as well as no per-contract options fees. And Webull doesn’t charge fees. Almost all securities can be traded on Webull except mutual funds. Here are all the securities you can trade on Webull:
- Stocks,
- ETFs,
- Options,
- ADRs,
- OTC,
- Cryptocurrencies.
How to Buy Stocks on Webull?
To make money with Webull, you must first open an account and register to the platform. The whole process is easy, and if you are a beginner, this shouldn’t be much of a problem. You will have to provide your SSN or ITIN to verify your identity and confirm your account. Here is a step-by-step guide on how to buy stocks on Webull.
Step 1 – Open an Account
Go on the Webull website and click on the option “sign up now.” You will have to provide your phone number and Webull ID number or SSN to confirm your identity. You will also be presented with options on which account you wish to open. There are two types of accounts – individual and IRA. You need to open an individual account first and then choose between a margin and a cash account.
Step 2 – Deposit Money Into Your Account
Even though you can open an account without any funds in it, in order to buy stocks, you will have to deposit money into your account. You can make direct deposits or transfer money via wire transfer. Before your first ACH deposit, you will need to link your bank account to a Webull account. You can do this through an app or online through a browser.
Step 3 – Place Your Order
Once cash is settled on your account, which can last up to three business days, you will be able to place an order on your trade. Go to the “market” tab and click on the stock you wish to buy. Then go to the stocks quote page and select option trade. The new window will open where you will be able to place an order for your stock. Choose between limited or market orders. Select the amount of money you want to place and the time of your order, and then click buy.
How to Invest with Webull?
A simple purchase of the stocks or Webull options will not be a guarantee of successful investing. The good thing is that Webull offers a lot of learning tools, such as paper trading, the latest news from a stock market, analysis, and Webull charts, all of which can show you how to make smart investments. Also, Webull offers free stocks for new traders, so you can practice with those stocks as well. As you can see, there are a lot of ways you can learn to make informed investments which is the best way to earn some profit. Still, before any investment, make sure you do your research and homework and know what you are doing.
What is Paper Trading?
You can easily open a paper trade account on Webull. This is a so-called demo account where you can practice trading with stocks with real-life data. Once you open a paper trade account, you will receive fake funds, which you can use to practice trading. There is no better way to learn how one platform works and how the stock market works than with practice on real examples. So if you are new to trading or Webull, try this option first, as it doesn’t cost you anything and you will gain priceless experience.
Is Webull Good for Stocks?
In terms of stock trading, Webull ranks high – with its no account minimum, no commission, and free stocks, it is one of the best platforms for beginners. You can trade on NYSE, AMEX, and NASDAQ exchanges, and you can buy fractional shares as well. However, penny stocks are not available on Webull, and, like with any other platform, there are advantages and disadvantages with Webull. What sets Webull apart from others is low costs and a platform that is user-friendly and easy to navigate. Also, you can place and track your orders on the online browser or through the app, which means you will have your stock trading with you at any time.
Overall, Webull is one of the most popular platforms for stock trading and it will only continue to grow.