Best for cost-conscious active traders who want $0 options, free Level II, fast routing, and broad crypto coverage. Educational depth and fixed-income shelves are thinner than the full-service incumbents.
- $0 commissions
- $0 options
- Free Level II
- Webull Desktop
- 50+ crypto coins
At a glance
- Founded
- 2017
- Minimum deposit
- $0
- Regulators
- SEC · FINRA · SIPC
New York, NY
SIPC $500K
Strengths and weaknesses
Strengths
- $0 commissions on stocks, ETFs, and options — including index options at $0.55
- Free Level II / Nasdaq TotalView quotes (no Gold/subscription required)
- Webull Desktop platform with advanced charting and 100+ technical indicators
- Webull Cash Management ~4.10% APY
- Crypto: 50+ coins via Webull Pay
- Fractional shares from $5
- IRA accounts with periodic transfer-bonus promotions (3.5%)
- 24-hour trading on select symbols via Blue Ocean ATS
- Fast smart-routing execution
- Kalshi prediction market integration (hourly contracts)
Weaknesses
- No mutual funds — only stocks, ETFs, options, futures, and crypto
- No bonds beyond US Treasuries
- Customer service phone hours more limited than Fidelity/Schwab
- Research is functional but trails full-service brokers
- No international equity markets in the US app
- PFOF on equities and options
- Margin tiers start at 8.74% — better than Schwab but well above IBKR Pro
- Education library thinner than Fidelity Learning Center or Schwab Coaching
Best for
- Active tradersFree Level II, Webull Desktop with custom layouts and fast routing, plus $0 commissions across stocks and options.
- Options trading$0 base + $0 per contract on equity/ETF options (small index fee). Paper trading and advanced options builder included.
- Fractional sharesFractional shares from $5 minimum across thousands of US stocks and ETFs.
- 24-hour trading24/5 trading on a curated symbol list via Blue Ocean ATS, with clean mobile and desktop UX.
Sub-ratings
- Commissions & fees
- 4.8
- Platforms & tools
- 4.5
- Mobile app
- 4.7
- Research
- 3.8
- Education
- 3.5
- Customer service
- 3.8
- Range of investments
- 3.7
- Active trading
- 4.4
Pricing & fees
Full fee schedule| Category | Item | Price | Notes |
|---|---|---|---|
| Stocks & ETFs | US stock / ETF commission | $0 | — |
| Options | Options base + per-contract | $0 + $0 | $0.55 on some index options |
| Futures | Futures per contract | ~$1.25 | — |
| Crypto | Crypto trading | Commission-free; spread varies | 50+ coins via Webull Pay |
| Bonds | US Treasuries | $0 | — |
| Margin | Margin rate (< $25K) | 8.74% | — |
| Cash sweep | Webull Cash Management APY | ~4.10% | — |
| Account & service fees | Outbound ACAT | $75 | — |
PFOF: Accepts payment for order flow on equities; accepts PFOF on options.
Margin rates vs. peers
Effective interest rate by debit balance. Lower is better. Step-line — rate is constant within each tier.
Cash sweep
Default cash sweep
4.10%(Webull Cash Management)
As of May 13, 2026
Asset coverage
- Yes
US stocks
- Limited
OTC / penny stocks
OTCQX/QB/Pink real-time data; $0 commission; some restrictions
- Yes
Fractional shares
From $5 minimum
- Yes
Options (equity, ETF, index)
$0 contract; small index fee
- No
Mutual funds
- Yes
ETFs
- Yes
US Treasuries
- No
Corporate bonds
- No
Forex
- Yes
Futures
- Yes
Crypto (direct)
50+ coins via Webull Pay
- No
International stocks (US app)
- Yes
Pre-market trading
4:00–9:30 a.m. ET
- Yes
After-hours trading
4:00–8:00 p.m. ET
- Yes
24-hour overnight trading
Curated symbol list via Blue Ocean ATS
- Yes
Prediction markets
Kalshi hourly contracts
Platforms & tools
Platform deep-diveDesktop
Webull Desktop
- Advanced charting with 100+ technical indicators
- Free Level II / Nasdaq TotalView
- Multi-monitor layouts
- +1 more — see platform deep-dive
Mobile
Webull Mobile
- Polished retail UX with charting parity
- Full options chain; futures trading
- Webull Pay crypto integrated
Web
Webull Web
- Browser-based trading and account management
API
Webull API
- Beta API access for algorithmic trading
Limited availability
Key capabilities at a glance
- Commission
- $0
- Fractional shares
- Yes
- Extended hours
- Yes
- Overnight (24/5)
- Yes
- Options
- $0
- OTC access
- 0/5 full, 3/5 limited
- Short locate
- limited
OTC market access by tier
OTC Markets organises non-exchange-listed securities into five tiers by disclosure quality. Webull’s coverage:
- OTCQXLimited
- OTCQBLimited
- Pink CurrentLimited
- Pink LimitedNo
- Grey MarketNo
Awards & recognition
- 2026 Best for Mobile Charting — StockBrokers.com
- 2025 Best for Day Trading — NerdWallet
Recent changes
- product
Kalshi hourly prediction-market contracts integrated
- pricing
Cash Management APY raised to ~4.10%
Frequently asked
- Does Webull charge for options?
- No. Webull offers $0 base commission and $0 per contract on equity and ETF options. Index options may carry a small per-contract fee. This is among the lowest options pricing in retail.
- Does Webull have free Level II quotes?
- Yes — Nasdaq TotalView Level II is included free for all account holders. Most competitors gate this behind a Pro/Gold subscription.
- What is Webull's margin rate?
- Tiered from 8.74% on debits under $25K down to 5.74% on debits over $3M. Higher than IBKR Pro (~5.83%–6.83%) but lower than Schwab and Fidelity.
- Does Webull offer mutual funds or bonds?
- No mutual funds. Bonds are limited to US Treasuries only — no corporates, munis, or CDs. For broad fixed-income access, Fidelity or Interactive Brokers are better fits.
