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Webull Review
Webull is a US stocks, options, and crypto broker regulated by the SEC and FINRA. It does not offer direct forex trading, and FINRA fined it 3 million dollars in 2023.
Min Deposit
$0
Spreads From
Not applicable; Webull does not offer spot forex trading
Max Leverage
Not applicable to forex; margin terms apply separately to stocks and options
Platforms
Webull desktop, Webull mobile app
Pros
- Registered with the SEC and a member of FINRA, SIPC, NYSE, and Nasdaq
- Zero commission trading on most stocks, ETFs, and options orders
- SIPC protection up to 500,000 dollars, with extra coverage through its clearing partner
- Separate CFTC and NFA registered arm covers regulated futures trading
Cons
- Does not offer direct spot forex trading despite appearing on forex comparison sites
- FINRA fined it 3 million dollars in 2023 over its options approval checks
- SEC fined it 125,000 dollars in 2024 for weak suspicious activity reporting
Webull Financial LLC became a licensed US securities firm in January 2018. It is registered with the SEC and is a FINRA member under CRD number 289063, plus SIPC, the New York Stock Exchange, and Nasdaq. A sister company, Webull Futures LLC, is registered with the CFTC and National Futures Association.
Despite appearing on forex comparison sites, Webull does not hold the retail foreign exchange dealer registration that US rules require for spot currency trading, so it does not offer direct forex. Instead it focuses on stocks, ETFs, options, futures, and crypto, with zero commission trading on most stock, ETF, and options orders.
FINRA fined Webull 3 million dollars in 2023 for weak checks before approving options traders and for failing to report some customer complaints. The SEC fined it 125,000 dollars in 2024 over poorly filed suspicious activity reports. Client accounts still carry SIPC protection up to 500,000 dollars, plus extra coverage through its clearing partner.
Min. Deposit
USD 0
Max Leverage
Not applicable to forex; margin terms apply separately to stocks and options
Spreads From
Not applicable; Webull does not offer spot forex trading
Platforms
Regulation, fund safety, track record
Spreads, execution, leverage
Platform quality, charting, features
Analysis, webinars, learning materials
Support quality, responsiveness
Mobile app quality, features
