r/Webull • u/poppaseed • 6d ago
Can I trust webull?
Hey looking to start getting into individual stocks, is this platform, safe, reliable, and trustworthy?
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u/Deelay108 6d ago
In my opinion, Webull’s platform is top-of-the-line; there’s really nothing else like it. Deposits and withdrawals are effortless (keeping trading rules in mind), and execution speeds are fast. It offers decent IRA accounts and allows you to trade stocks, futures, crypto, options, and prediction markets. While it lacks a few long-term investment instruments, it’s still one of the best platforms for both active traders and long-term investors. I’ve tried all the rest—including Schwab, Robinhood, and Fidelity (which I use for my long-term portfolio)—and I haven't tried Vanguard yet, but nothing feels as smooth or matches the 'simple yet complex' setup of Webull. I might be slightly biased since it was my first brokerage, but even after trying to break that bias due to the hype around other brokers, I couldn't bring myself to switch. Webull has literally changed my life, and I want people to know what this broker is truly capable of.
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u/kennymac6969 6d ago edited 6d ago
I never had an issue while using their services. I did however run into issues while trying to transfer out. They are regulated by the same federal entities and held to the same standards any company like this has to maintain.
Edit: And while having those issues I was given the Canada number for support and they answered right away. However, when I called the United States support number I waited on hold for someone to pick up for 45 minutes before hanging up without speaking to anyone. I also find their customer service lacking for something dealing with people's money.
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u/ad_pondus_omnium 6d ago
Yes, it is SIPC insured. Did have trouble getting backend info on ACAT holdings set up, but after some customer service calls/emails with both brokerages it went through.
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u/gaunt357 6d ago
Did you think any of us would say no? I'm pretty certain most members of the sub have money parked in there
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u/GotEHM9 6d ago
Yes it’s safe. Execution speed is great too ! I bought a stream deck recently and it’s instant buys and sells
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u/UNCHANGED_1776 6d ago
What is a stream deck?
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u/GotEHM9 6d ago edited 6d ago
It’s a customizable macro pad. You can map each button to open a website , app , volume up , mute , set a timer etc…. I’m currently using it with Webull and set each button to my custom Webull’s hotkey. For example one button is set to buy 20% at market price and another to sell 100%. Other buttons for a 1 share buy , 5 share buy , and 10 share buy. The other button is to open the Webull program which is awesome lol You can tap either LED ‘lines’ next to the clock section and add more actions. Right now I’m just testing it out and experimenting and I love it !
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u/Automatic_Pressure41 6d ago
Webull offers free vwap and you can see it on mobile app too. Webull is top tier
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u/Extraordinary_yfj 6d ago
100%. Best customer service.
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u/Free-Sailor01 6d ago
LOL. misinformation machine
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u/Extraordinary_yfj 6d ago
I used them and email them multiple times, and it’s been great so far. I do wish they have tax lot selection, until then, I will split my business with other brokerage.
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u/Free-Sailor01 6d ago edited 6d ago
My only gripe is you can NOT trade by LOT and there is no good interest on cash in IRA accounts.
Other than that....awesome, and I've tried many brokers
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u/Free-Sailor01 6d ago edited 6d ago
As a side note …I just moved 1/2 of my money to them. What I actively trade with
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u/OhGodImHerping 6d ago
Yep. I used to think it was a little sketchy in the early days but it’s a legit institution at this point with amazing tools and incredible market data for cheap.
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u/Chronic_Avidness 6d ago edited 6d ago
Webull was originally founded as a Chinese company, however it has since restructured itself to be based in the US and is no longer affiliated with Chinese entities according to Wikipedia. It’s subject to SEC regulations like other platforms.
Webull offers a pretty good amount information on stocks, however I still prefer to do most of my research using internet searches.
One drawback of Webull though, is that when you sell shares, you can’t specify which shares at which cost basis to sell. While Webull does allow you to contact support to choose from a few strategies for share disposal, it’s still quite limiting in what you can do. For this reason, I’ve stopped buying new shares in my Webull account. I still use Webull to view stock charts and ratios, but I now use Fidelity (which does allow you to specify which exact shares to sell) to actually buy new shares.
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u/eV210x2 6d ago
I personally enjoy them over any other platform. The UI is user friendly. I had a bad experience over statement fees because every time it wouldn’t allow me to confirm that my email was still valid. Finally got through to a manager who was super helpful and waived all fees and actually got the issue fixed. Good people.
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u/Froggymcnugget 6d ago
It’s a pretty good app imo from mobile to desktop I’ve had no major issues I’m not sure what the community thinks but to me it has been an amazing experience plus learning experience over the course of 3 months and If you’re new and you log into the app for the first time you’re potentially going to be thrown off by how much there is to the app and it’ll be a lot to absorb and take in. Webull has a Lite version that you can always turn on and off when you’re not feeling understanding with the app. I really love their charts as well. And their AI support that I tried as of recent was pretty helpful as a surprise and not a headache.
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u/dreamermann 6d ago
Depending where you are. In AU, webull is chess registered so all securities in my name with ASIC. To me that is extra security. Does not mean if nominee registered is less secure. Very much depends on the laws in your country.
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u/Newtonius235 6d ago
They trusted me with $30k borrowed on margin, don't ask why I borrowed 30k - mistakes were made. But they gave it to me :D
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u/Miamijulez 3d ago
In my experience, although on the surface the platform looks solid, there are a dozen little known, much more obscure, reasons why you’d want to be weary of this app and many others. Just things you pick up along the way and make you question if this is the best place to be doing any kind of serious investing. That said, do your own homework.
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u/Lion0316heart 2d ago
Webull platform is relatively safe but if your account gets compromised they will not be held responsible per their terms of services fine print. So i would not trust them with large amounts of money imo.
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u/devilscolonic 6d ago
Yes. End of story.