In this independent review, we take a look at Webull, an online investment platform that operates in the UK. We explore its key features, fees, and pros and cons to help you decide whether it's right for you. We also look at alternatives like Freetrade*, eToro*, Trading 212, and Robinhood.
What is Webull?
Webull is an app-based online investment platform allowing UK customers to trade US, Chinese and Hong Kong stocks. It's a low-cost platform geared towards investors interested in individual shares in Asia and the US.
Founded in 2017, the company is headquartered in the US but owned by Chinese holding company Hunan Fumi Information Technology. It's also authorised and regulated by the Financial Conduct Authority in the UK.
To date, the Webull app has been downloaded more than 35 million times around the world, so while it's fairly new to the UK market, it's gaining popularity globally.
How does Webull work?
Webull investors in the UK can open a general investment account via its mobile app and can benefit from commission-free trading for up to 90 days after opening their accounts. The platform allows you to trade US, Hong Kong, and Chinese stocks both via the app and the browser.
If you're interested in US stocks, you'll have access to more than 10,000 stocks and the opportunity to trade during extended hours. It also allows you to buy fractional shares.
Beyond the promotional period, commission and FX fees are fairly competitive and we dig deeper into these costs later in the review. There is also the added benefit of a demo account with unlimited funds as well as a 'learning platform' with lots of resources aimed at newer investors.
Webull products
Webull's key trading and investment products in the UK include US stocks, Emerging Markets stocks (in China and Hong Kong) and interest-bearing savings accounts. Some of the key tools on offer include extended trading hours, a range of charts to help with your analysis, and a demo account to help you get to grips with the platform. Webull also has a comprehensive free learning platform called Webull Learn to help novice investors get to grips with investing and trading. We explore the key products on offer below.
US and Emerging Markets stocks
You can trade US, Hong Kong, and Chinese stocks via Webull. There are more than 10,000 US stocks on the platform with access to a range of exchanges including Nasdaq, NYSE, and AMEX.
Purchasing Hong Kong stocks allows investors to gain exposure to the Chinese market. Webull also uses China Connect to allow international investors to access the Shanghai and Shenzhen exchanges from abroad and trade A-shares. Chinese A-shares could previously only be traded by mainland citizens but restrictions were lifted in 2003 and a select number of financial institutions can now purchase these shares.
Interest-bearing savings accounts
Webull offers a range of interest-bearing savings accounts through partnerships with other financial institutions. At the time of writing, Webull's easy-access savings accounts paid up to 4.80% AER on GBP savings. Their Notice accounts paid up to 4.80% AER as well.
Extended trading hours
You can use extended trading hours to trade more than 10,000 different US stocks. You will have a 16-hour window every day during which you can trade US stocks. This includes pre-market hours between 09:00 to 14:30 GMT and after-market hours between 21:00 and 01:00 GMT.
Charts and tools
Webull offers a range of advanced charting tools and features to help you research potential investments. These include 50 fully customisable indicators, price alerts, and more than 60 technical signals among many others.
There is also plenty of company information at your fingertips to help you carry out your research. This includes financial statements such as balance sheets and income statements, as well as a range of other company reports.
Demo account (paper trading)
Webull's paper trading account allows investors to use real-time data and unlimited virtual cash to simulate trades and test new strategies without the risk of losing any money in the process. Webull's charting tools and technical indicators are at your disposal as you learn how to use the platform via the simulator.
Webull Learn
The Webull Learn platform offers a range of videos and articles to help you learn about concepts like trading options, carrying out your own technical analysis, understanding stocks and ETFs, and even more niche topics like the "January effect" and the "Santa Claus rally". If you create an account, you can start your education journey and track your progress along the way.
Webull key features
Here are some of the key features you can expect with a UK-based Webull account:
- Trade more than 10,000 US stocks and benefit from extended hours of trading
- Trade Hong Kong and Chinese stocks
- Buy US fractional shares
- Learn the ins and outs of trading via the Webull Learn platform
- Use advanced charting tools and resources to analyse and research potential investments
- Get used to Webull's analytics features with the virtual demo account (paper trading)
- Benefit from 90 days of commission-free trading when you open an account
- Download the browser and mobile app to use the platform's trading features on the go
How much does Webull cost?
Webull is a pay-as-you-go platform and as such there are no monthly fees to worry about. Currently, there is also a no-commission introductory offer available to customers for the first 90 days of their opening an account.
We have outlined the key fees to be aware of beyond the introductory period. The fees below are those charged by Webull. There may be additional fees and taxes charged by third parties.
| Fee | US Market | HK and CN Market |
| Commission | 2.5 basis points | 3 basis points (min HKD15) |
| Platform fee | £0 | £0 |
| FX fee | 0.35% | 0.35% |
| Cash dividend collection | Not applicable | 0.20% of the dividend (min. HKD30) |
What is the minimum deposit with Webull?
There is no minimum deposit with Webull. You can deposit money using your own bank account or a joint account as long as you're a named account holder. There are no deposit fees charged by Webull to deposit money, although exchange fees can apply if you send money in a different currency.
Webull customer reviews
In 2024, Webull is ranked 1.5 out of 5.0 on Trustpilot based on around 220 reviews. Approximately 87% of reviewers gave Webull just one star, with only 5% of reviewers rating it "Excellent". Those giving it one star complained about slow processing times, poor customer service, and issues with withdrawing funds. Those giving Webull five stars praised its research tools, including its charts, and were happy with the free stocks they received as part of the signup process.
How to open an account with Webull
You can open a Webull account via the website or by downloading the Webull app. You will need to be a UK resident to do so and you'll need to complete verification checks via the app. If your identity can't be confirmed via the app, you may need to take additional steps to do so. These include a proof of identity document such as:
- A passport
- A driving licence
- A biometric residence permit
- A government-issued national identity card (for EU citizens)
You may also need to provide proof of your address which can include a bank statement, utility bill, or council tax bill. Alternative documentation may also be accepted in certain circumstances.
Alternatives to Webull
There are plenty of Webull alternatives on the market depending on what you're looking for. Some popular examples include eToro, Robinhood, Freetrade and Trading 212. We explore what they have to offer in more detail below.
eToro
eToro* is an online trading platform which offers fractional share trading as well as CFD trading. While eToro doesn't charge commission, there is a relatively high conversion fee ranging between 1.5% to 3%. eToro also charges inactivity fees of $10 per month after a year of inactivity on the platform. Its unique Copytrader tool, which allows you to copy the trades of successful traders, may be of particular interest to newer investors. If you're interested in finding out more, check out our independent eToro review.
Robinhood
Robinhood is a US-based trading platform that recently launched in the UK. It comes with no commission fees, inactivity fees, or FX fees (apart from a 0.03% third-party fee charged on currency conversions). Much like Webull, you'll be able to trade a range of US shares with Robinhood. You'll also be able to trade more than 650 global shares. However, there is no access to ETFs or derivatives like CFDs. If you're interested in finding out more, check out our independent Robinhood review.
Freetrade
Freetrade* is an online investment platform which offers commission-fee investing and the opportunity to invest in fractional shares as well as ETFs. There is also a flexible stocks and shares ISA on offer for those interested in making use of the tax wrapper. Foreign exchange fees range from 0.39% to 0.99% depending on the plan you have selected. If you're interested in finding out more, check out our independent Freetrade review.
Trading212
Trading 212 is a low-cost online investment platform that gives you access to a range of assets such as global stocks and ETFs. There is also the opportunity to buy fractional shares and even trade CFDs. Its zero-fee stocks and shares ISA are another attractive feature. If you're interested in finding out more, check out our independent Trading 212 review.
The table below compares the four options to help you decide which one is right for you.
| Webull | eToro* | Robinhood | Freetrade * | Trading212 | |
| Fractional shares |  |
|
|
|
|
| ETFs |  |
|
|
|
|
| CFDs and other derivatives | |
|
|
|
|
| Stocks and Shares ISA | |
(via a Moneyfarm partnership) |
|
|
|
| Commission fees | 0.025% (2.5 basis points)^ | FREE | FREE | FREE | FREE |
| Currency conversion fees | 0.35% | 1.5% to 3.0% | 0.03% (third-party fee) | 0.39% to 0.99% | 0.15% |
| Inactivity fees | FREE | $10 per month after one year | FREE | FREE | FREE |
| Trustpilot score | 1.4 out of 5.0 | 4.2 out of 5.0 | 1.2 out of 5.0 | 4.0 out of 5.0 | 4.6 out of 5.0 |
^Free for the first 90 days after you open your account.
As you can see, Webull is fairly niche in its offering in that it doesn't offer ETFs, derivative trading, or tax wrappers. That said, investors who want to focus on accumulating particular stocks might find Webull an attractive option.
Webull pros and cons
The table below sums up the key Webull pros and cons to help you decide whether it's right for you.
| Webull pros | Webull cons |
| Trade more than 6,000 US and HK stocks |
Low Trustpilot ratings |
| Buy fractional shares |
No access to UK-based stocks |
| Benefit from extended trading hours |
No access to other types of assets such as funds and ETFs |
| Research stocks and trade on the go with the Webull app |
No way to trade derivatives such as CFDs in the UK |
| 90 days of commission-free trading when you open an account |
No Individual Savings Accounts or other tax wrappers |
Webull: Is it the right choice for your needs?
As far as investment platforms go, Webull's UK version is very limited in its functionality. You can only trade US, Chinese, or Hong Kong-based stocks within a general investment account. There are no funds or ETFs, there are no options to trade derivatives, and there are no tax wrappers like ISAs to protect your investments from the tax man.
If you want a wider choice of assets and the opportunity to use tax wrappers like ISAs, then alternatives like eToro* and Freetrade* might be a better option. For those looking for US-based stocks specifically, Robinhood has a very similar offering with no commission fees.
That said, the platform could appeal to some investors who are not interested in investing via a stocks and shares ISA and who are particularly interested in holding Asian or US-based stocks. If that's you, then you could benefit from Webull's low-cost commissions on trading, extended trading hours, and decent on-the-go trading experience via the app.
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