Webull is a commission-free stock and options trading platform owned by Webull Financial LLC, a U.S. brokerage firm

Webull lets you buy and sell stocks, exchange-traded funds (ETFs), options, and cryptocurrencies through a mobile app or web browser. The platform charges no commission on stock and ETF trades, meaning you don't pay a fee per transaction the way you might at older brokerages. You fund your account with your own money, place trades during market hours or after-hours, and see your holdings and account value in real time.

Webull is not a bank, and it is not a government program. It is a private company that acts as an intermediary between you and the financial markets. Your cash and securities are held in accounts that are protected by the Securities Investor Protection Corporation (SIPC) up to $500,000 per account type, which is a standard protection for brokerage accounts across the industry.

Key Takeaways

  • Webull is a brokerage platform where you can trade stocks, ETFs, options, and cryptocurrencies without paying per-trade commissions.
  • You must fund your account with your own money; Webull does not provide loans or credit to buy securities.
  • The platform offers extended trading hours (pre-market and after-hours) in addition to regular market hours, which is unusual among free brokerages.
  • Your account is protected by SIPC insurance up to $500,000, the same standard protection that applies to most brokerage accounts.
  • Webull makes money through payment for order flow and margin interest, not through commissions on your trades.

How Webull makes money if trading is commission-free

Webull earns revenue in two main ways. First, it receives payment for order flow — when you place a trade, Webull routes your order to a market maker or exchange, and that entity pays Webull a small amount for sending the order their way. This is legal and standard across the brokerage industry, though it means Webull has a financial incentive to route your order to certain firms.

Second, if you borrow money to buy securities (called margin), you pay interest on that borrowed amount. Webull also earns money if you hold a cash balance in your account and they lend that cash out. These revenue streams mean Webull can offer commission-free trading without charging you per trade.

What you need to open a Webull account

To open an account, you must be at least 18 years old, a U.S. citizen or permanent resident, and have a valid Social Security number. You will need to provide your legal name, date of birth, address, and employment information. Webull will verify your identity and run a background check as required by federal law.

You do not need a minimum deposit to open an account, though you cannot place trades until you have funded it. You can deposit money by linking a bank account, transferring funds via ACH, or wiring money. The time it takes for funds to settle depends on the method — ACH transfers typically take one to three business days, while wire transfers can be faster.

The difference between a cash account and a margin account

When you open a Webull account, you choose between a cash account and a margin account. In a cash account, you can only spend money you have already deposited. If you buy a stock for $1,000, that $1,000 must be in your account first. A cash account has no monthly fees and no minimum balance.

A margin account lets you borrow money from Webull to buy securities. If you have $5,000 in your account, you might be able to borrow an additional $5,000 to buy $10,000 worth of stock. You pay interest on the borrowed amount, and Webull can force you to sell securities if your account value drops too far. Margin accounts require a minimum deposit (Webull's minimum is $2,000) and carry more risk because losses are magnified when you use borrowed money.

Most new traders start with a cash account. Margin accounts are for experienced traders who understand leverage and the risk of losing more than they invested.

Trading hours and after-hours access

Regular stock market hours run from 9:30 a.m. to 4:00 p.m. Eastern Time, Monday through Friday. Webull offers pre-market trading from 4:00 a.m. to 9:30 a.m. and after-hours trading from 4:00 p.m. to 8:00 p.m. Eastern Time. This extended access is one feature that sets Webull apart from some competitors.

Trading outside regular hours carries higher risk: fewer buyers and sellers are active, so prices can swing more dramatically and it may be harder to sell at the price you want. You should understand this risk before placing pre-market or after-hours trades. Cryptocurrencies trade 24/7 on Webull with no market hours restriction.

Account protection and what happens if Webull fails

Your cash and securities held at Webull are protected by SIPC insurance up to $500,000 per account type. This means if Webull goes out of business or becomes insolvent, SIPC will return your securities or cash up to that limit. SIPC protection does not cover losses from bad trades or market declines — it only covers the loss of your assets if the brokerage itself fails.

Webull is also regulated by the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA). These agencies set rules for how brokerages must operate and handle customer money. Webull must keep customer cash and securities separate from its own operating funds, which is why your money is protected even if the company has financial trouble.

Fees and costs you should know about

Webull charges no commission on stock, ETF, or cryptocurrency trades. However, you may encounter other costs. If you use margin (borrowed money), you pay interest on the balance. If you hold certain positions overnight or use advanced features, there may be small fees. Options trades may have assignment fees or exercise fees depending on how you close the position.

Webull also charges inactivity fees on some account types if you do not trade for a set period, though this varies. Check the current fee schedule on Webull's website or in your account settings, as fees can change. The key point is that while trading itself is free, borrowing money or using certain features will cost you.

Frequently Asked Questions

Is Webull safe to use with my money?

Webull is regulated by the SEC and FINRA, and your cash and securities are protected by SIPC insurance up to $500,000. Your assets are held separately from Webull's operating funds. That said, like any brokerage, Webull can be hacked or experience technical problems, so use a strong password and enable two-factor authentication on your account.

Can I lose more money than I deposited?

In a cash account, no — you can only lose what you invested. In a margin account, yes — if you borrow money to buy securities and the price falls sharply, you can lose more than your initial deposit and owe Webull money. Margin is risky and should only be used by experienced traders who understand the mechanics.

How long does it take to withdraw money from Webull?

Withdrawals typically take one to three business days to reach your bank account, depending on your bank and the withdrawal method. Webull processes the withdrawal request within one business day, but your bank controls how quickly the funds appear on their end.

Does Webull offer retirement accounts like IRAs?

Webull offers Traditional IRAs and Roth IRAs, which are retirement accounts with tax advantages. The same commission-free trading applies inside these accounts. You should understand the contribution limits and withdrawal rules for IRAs before opening one, as they differ from regular taxable accounts.

What happens to my account if I don't trade for a long time?

Webull may charge an inactivity fee if your account sits unused for an extended period, though the specifics depend on your account type. Check your account agreement or contact Webull support to learn the exact policy for your situation. Keeping your account active by trading at least occasionally can avoid this fee.