Is Webull a Safe Trading Platform?
General information about Webull as a trading platform.
Published May 10, 2021.
Webull is a stock trading app that is growing fast in popularity, as it offers plenty of benefits that other apps simply don’t. If you have any interest in the stock market, you should definitely check it out. Bluntly, the answer is, yes, Webull is safe and legit and a good stock trading app for beginners and advanced traders.
I personally consider it safe because it is regulated by top-tier financial authorities and provides a maximum of $500,000 investor protection, including a $250,000 limit for cash under the Securities Investor Protection Corporation's (SIPC) protection scheme.
If you are going to register on this platform, good news incoming - they are giving new users 2 free stocks when opening an account and you put at least 100 USD. The stocks are valued at around 1850 USD. You can buy and sell stocks for free with no commission fees. You can also withdraw your money to your bank account via an ACH transfer with no fees or you can opt to pay a small wire fee if you want to get the money into your bank account quicker.
The only thing that I don’t like is that Webull's product portfolio is limited, covering only US stocks, ETFs, and options.