Webull investment platform review: Features and fees for individuals in the UK

Disclaimer: The information in this article is for reference purposes only. Wise does not offer to buy or sell stocks, and all information on this page should not be considered financial advice. All investment decisions should be made after thorough research and consultation with a qualified financial advisor. Remember that investments, even in low-risk funds, are never guaranteed and your capital is at risk.

Thinking of joining a trading and investing platform? One of the popular options available in the UK right now is Webull.

Launched in 2017, the US-based company offers an electronic platform for the trading of US stocks, exchange traded funds, options, margins and futures.

In this guide, we’ll cover everything you need to know about Webull in the UK.

This includes who its best for, supported currencies, platform features, commission fees and how to get started with buying stock.

So, let’s dive right into our Webull review.

Who Webull is best for?

Webull is a great option for trading beginners, as it has an easy-to-use platform, lots of learning materials and low transaction costs (more on fees later).

However, it also has features for more advanced investors and traders looking to research investments and trade stocks, ETFs and options.

Who can open an account?

To open an account with Webull, you’ll need to be at least 18 years old and live in the UK.

You’ll also need to provide proof of ID and proof address on application.¹

What currencies are supported?

Webull supports trading in limited markets, including US stocks and Hong Kong and China A-Shares. This means it only really supports trades in US dollars (USD), Chinese yuan (CNY) and Hong Kong dollars (HKD).²

Webull features

Now, let’s take a look at what kind of features you can expect when you open an trading account with Webull:

• Trading in US, CN and HK stock markets
• Low commissions
• Free real-time quotes
• Webull Paper Trading - a stock trading simulator to help new customers get used to the platform, improve trading skills and test out new strategies
• Charts, reports and analytics tools
• Extended hours trading
• 24/7 in-app help centre.

Webull fees

Take a look below for the main fees and charges you need to know about for the Webull trading platform, based on trading on the US market. We’ll look at some of these in more detail shortly.

Fees5	Amount
Account management/platform fee	None3
Deposit fee	None
Withdrawal fee	None (to UK bank accounts)4
Currency conversion (applies to withdrawals and deposits not in USD)	35 basis points + 0.35% Webull margin on exchange rate3
Trading/commission fees	2.5 basis points3
Inactivity fee	None5

Does Webull have an account fee?

No, Webull doesn’t charge any fees for opening an account, nor does it have monthly maintenance or platform fees.³

Trading fees with Webull

Let’s dive a little deeper into trading fees with Webull, so you can assess how much it’ll cost you to start trading on the platform.

How much does Webull charge for US stocks?

Webull lists the following fees for trading on the US stock market:³

• Commission fees - 2.5 basis points - charged by Webull
• Regulatory Transaction Fee (Sell Trades Only) - USD 0.0000278. Total Trade Amount (Min. USD 0.01) - charged by the US Securities and Exchange Commission (SEC)
• Trading Activity Fee (Sell Trades Only) - USD 0.000166. Total Trade Volume (Min. USD 0.01 and Max. USD 8.30 per trade) - charged by the US Financial Industry Regulatory Authority (FINRA)

Note: All charges and fees above correct at time of publishing

Webull withdrawal fees

The great news is that there aren’t any withdrawal fees to worry about when you withdraw money from your Webull account to a UK bank account.⁴ However, currency conversion charges may apply.

Webull commission fees

Webull has commission fees of 2.5 basis points for trading on the US stock market.³

For the HK stock market, commission fees are 3 basis points (Min. HKD15).³

How to buy stock with Webull

Here’s a quick step-by-step on how to buy stock with Webull:⁶

1. Login to your Webull account online or in the mobile app
2. Go to the detail page of a ticker you’re interested in.
3. Select ‘Trade’ on the bottom left to buy or sell that ticker, or tap ‘Option’ to trade options for that ticker
4. Complete the order settings, check and submit your order.

Buying stock in another currency?

Buying shares or selling a stock or shares that aren’t traded in your local currency? Don’t let the currency conversion trip you up. Convert your stocks or shares into any currency with our handy tool, and you’ll always know what you’re getting.

Check out our handy international stock ticker tool.

Search international stocks

Disclaimer: Wise's international stock ticker provides information for reference purposes only. This tool and platform does not offer to buy or sell stocks, and the data displayed here should not be considered financial advice. All investment decisions should be made after thorough research and consultation with a qualified financial advisor. We make no guarantees regarding the accuracy or completeness of the information provided, and users should exercise caution and seek professional guidance when making investment choices.

How is the Webull mobile app?

The Webull Trade & Invest Stocks mobile app is available from Google Play for Android devices and the App Store for iOS devices.

It’s free to download (although you will need to open an account) and offers all of the main features as the Webull online platform, including the option to start off with a free demo trading account.

Webull customer service

Need help? You can contact Webull customer service using the following methods:⁷

• Email clientservices@webull-uk.com
• Call (+44) 2039051005
• Use the in-app support service.

Alternatives to Webull

There are lots of alternatives to Webull available to UK traders and investors, including:

• Trading 212
• IG Trading
• XTB
• eToro
• Interactive Brokers
• Charles Schwab
• Fidelity

FAQs about investing with Webull

Can people in the UK use Webull?

Webull may be a US-based platform focusing on US stocks, but there is a UK arm of the company called Webull Securities (UK) Ltd available to UK based traders and investors.

Is Webull good for beginners?

Webull is a good option for novices, as it has an easy-to-use platform, lots of learning materials and low transaction costs. There’s also the option to start off with a free demo trading account.

Is Webull trustworthy?

Webull Securities (UK) Limited is authorised and regulated by the Financial Conduct Authority (FCA) in the UK. This means that it needs to adhere to certain regulatory standards.

How much do Webull charge for withdrawal?

Webull doesn’t charge any fees for withdrawals to a UK bank account, although bear in mind that currency conversion charges may apply.⁴

How long does it take to withdraw money from Webull UK?

Although it may depend on your bank, withdrawals from Webull generally take between 1-3 working days.⁸

Does Webull have a monthly fee?

No, Webull doesn’t charge monthly account or platform fees.

Save money when selling or buying international stocks with Wise

If you are buying or selling international stocks and funds listed abroad, you might be hit with extra costs for cross border money transfers.

But if you use Wise money transfer, you can avoid hidden currency exchange markups. Open a Wise account and you’ll be able to conveniently manage your money in up to 40+ currencies. This means you can convert your money into other currencies when the time is right for you at the mid-market rate for only a small, transparent conversion fee*.

Not sure about using investment platforms? With a Wise account, you can choose how your money is used. Choose the balance or Jar then under Balance information, select ‘Earn’ and choose from one of three options.

1. Cash
2. Stocks
3. Interest

All your money is held as ‘cash’ by default, so you can’t earn a return on the money you spend, but it isn’t at risk in the market. If you choose the ‘Stocks’ option, we’ll invest some or all of your money in the Jar or balance in the index tracking fund we’ve chosen.

Finally, if you opt for Interest you can choose to give us permission to invest all or some of your money in the Jar or balance in the interest-earning fund we’ve chosen. This will depend on the currency.

With Wise Interest, you can help grow your international money and start earning a return on the pounds, euros and dollars in your balance**.

**Wise Interest and Stocks is only available to some UK, Singapore and some EEA residents and most businesses that are tax resident in the UK. To discover if you are eligible, check your account and if you can see the option to change your Balance or Jar from Cash to Interest or Stocks, then you are eligible. Capital at risk.

You’ll also have full access, at all times without the typical access fees or spend restrictions so you can continue using your money as usual.

We’ll only ever invest your cash in a fund of government-backed assets - so when the central bank rates change, your return does too. We will always track the central bank rate whereas other providers may cut rates faster, which means you’re more likely get a fairer rate.

Capital at risk. Growth not guaranteed. Wise Assets UK Ltd is authorised and regulated by the Financial Conduct Authority with registration number 839689. When facilitating access to Wise investment products, Wise Payments Ltd acts as an Introducer Appointed Representative of Wise Assets UK Ltd. Please be aware that we do not offer investment advice, and you may be liable for taxes on any earnings. If you’re uncertain, we urge you to seek professional advice. To find out more about the Funds, visit our website.

*** Investments in funds are never guaranteed and your capital can be at risk. Variable rate is based on 7 day performance as of 08/08/2024 at the time of publishing. This fund has returned a 1.31% annual average over the last 5 years, excluding Wise and fund manager fees.

If you do decide to change how we hold your money, while the change is processing, the icon will temporarily display as "Pending" and this can take up to 2 business days, however may require an additional business day if you have ongoing transactions in progress or we are still processing previous changes.

Why not turn on Interest, to help boost your balance?

Get Wise and Invest from £1

Capital at risk. Growth not guaranteed. Wise Assets UK Ltd is authorised and regulated by the Financial Conduct Authority with registration number 839689. When facilitating access to Wise investment products, Wise Payments Ltd acts as an Introducer Appointed Representative of Wise Assets UK Ltd. Please be aware that we do not offer investment advice, and you may be liable for taxes on any earnings. If you’re uncertain, we urge you to seek professional advice. To find out more about the Funds, visit our website.

You may also be interested in:

• How Wise Interest works
• Using Wise Interest
• How do I use Wise Interest and Stocks?

Capital at risk. Growth not guaranteed. Wise Assets UK Ltd is authorised and regulated by the Financial Conduct Authority with registration number 839689. When facilitating access to Wise investment products, Wise Payments Ltd acts as an Introducer Appointed Representative of Wise Assets UK Ltd. Please be aware that we do not offer investment advice, and you may be liable for taxes on any earnings. If you’re uncertain, we urge you to seek professional advice. To find out more about the Funds, visit our website.

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Disclaimer: The information in this article is for reference purposes only. Wise does not offer to buy or sell stocks, and all information on this page should not be considered financial advice. All investment decisions should be made after thorough research and consultation with a qualified financial advisor. Remember that investments, even in low-risk funds, are never guaranteed and your capital is at risk.

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Sources used:

1. Webull - documents needed to open an account
2. Webull - currencies
3. Webull - Webull pricing
4. Webull - withdrawal fees
5. Webull - inactivity fee
6. Webull - how to place an order
7. Webull - contact details
8. Webull - withdrawing funds

Sources last checked on date: 12-Aug-2024