Then Webull could be the investing app for you!
This Webull investment app review will tell you everything you need to know about Webull so you can decide if it’s what you need or not.
We’ve scoured the internet to find the best investing apps so you don’t have to!
So let’s get down to business!
Table of Contents
Webull Investment App - Overall Rating
Overall, Webull is a pretty solid investing app, especially considering it’s free. It has one of the best referral/affiliate programs in it’s industry, great tools compared to competitors, and overall Webull has a really decent service.
If you’re interested in cryptocurrency, Webull has been adding support for various types of crypto recently. They’ve even added the ability to purchase Dogecoin, for those of you who are into that kind of thing!
Webull doesn’t offer fractional shares, so we have to knock it down a little for that and the UI of the app itself could feel a little less cluttered, but it’s not a huge deal, some people may not even notice it.
It’s common for Webull deposits and transfer to take a while to clear, and it’s also common for their buying power, settled cash, and unsettled cash totals to be inaccurate while these funds are getting cleared, so don’t be too alarmed if this happens to you.
I have heard some complaints about Webull’s customer support being relatively weak compared to other investment apps, but I’ve never had to use their customer support because I’ve never had any real issues with their service to begin with.
Overall, we are giving Webull a 4.4/5 star rating. The app is decent and offers great tools, so it’s especially nice for people who are trying to day-trade. The Google Play Store gives Webull a 4.3/5 star rating.
Signing up for Webull
Signing up for any brokerage is going to require you to disclose some personal information to the IRS for tax purposes. The Government isn’t going to let you make money off of the stock market without getting their fair share, you can believe that.
The good news is – Webull is a legitimate company that’s been operating since May, 2018. They are an American Fintech (Financial Technology) Corporation registered with the SEC, and a member of FINRA and the SIPC. Your Webull account is protected up to $500,000 (including $250,000 for claims for cash) so your information and money is safe with them.
Signing up is really easy and Webull is one of the many investing apps that give free shares of stocks to new users, some of which can be worth a pretty penny (~$1400! But GOOD LUCK getting that lucky haha), but we’ll go over that later.
First, let’s dive into the details and learn some more about Webull.
What services does Webull offer?
Webull is a commission-free online brokerage and investing platform that offers users a few features:
|Webull Features||Free Account||Premium Account|
|Minimum Balance||$0 or $100 to receive deposit bonus||N/A|
|Level 2 Market Data|
|Other||Stock Lending Program/ IPO Offerings||N/A|
Webull has a few very great features, especially for people who love to day-trade.
Cryptocurrency is supposedly coming soon as well(the charts are already in the Webull app!), which is exciting
How simple is Webull to use?
Webull sign-up and referral programs
Pretty much every big company has some sort of affiliate or referral program, so it’s no surprise that Webull has one too.
Companies need to constantly be growing, even if they are already huge, so they need to always get their products out there. Affiliates are essentially a sales team that companies don’t have to pay for upfront.
Companies incentivize word-of-mouth advertising by paying people when their friends sign up, and everyone wins. If you take advantage of programs like these, you can turn it into a full-time income, so don’t underestimate the profit potential of proper affiliate marketing.
Affiliate marketing is hard, so don’t think you’re going to get rich quick, but it’s just like anything else – with practice, you’ll become good at it.
The GOOD news is – Webull has an AMAZING affiliate program and an even more AMAZING Webull Influencer Program, so let’s go over the benefits of them.
Webull sign-up bonus
Webull’s free stock promotion is back!!! For a little while they removed the “free stock just for signing up” portion of their sign-up bonus, but now they have re-instated that, which is good news.
Previously, Webull would reward new members a share of a randomly selected stock just for signing up, valued between $2.50-$250, but they have stopped that promotion.
They WILL, however, reward you with a random stock valued between $8-$1600 when you sign up and make you first deposit into your Webull account of $100 or more.
So even though their sign-up bonuses have been reduced, Webull still has a really good sign-up and referral program.
Webull referral and affiliate program
Regardless of their decisions regarding sign-up bonuses, Webull has continued to have the best referral program around.
Webull will typically give you at least 2 stocks worth between $12-$1400 when you refer a new user who deposits $100 or more.
Usually they’ll give you the bonus when the person deposits ANY amount, but right now the economy is hurting so the referral rewards are more strict. They’ll also occasionally give you additional shares of stocks on top of those 2 shares, which is a really good deal.
You don’t get anything if no-one deposits anything though, so that’s the drawback. Fortunately, there’s a way around that, and that’s the Webull Influencer Program.
Webull Influencer Program
If you know a thing or two about marketing and you know you can get leads regularly, Webull has the Webull Influencer Program which is invite-only.
The Webull Influencer Program allows influencers to choose different commission requirements to fit the influencer’s individual needs and ability to generate leads.
Webull allows you these options when you become a Webull Influencer:
- Plan A:
You receive 1 share of stock valued between $10-$250 whenever someone signs up with your affiliate link and opens up their first account, no deposit required. This plan is great for people who get a lot of traffic that don’t deposit $100. A lot of people in the “Work From Home” or “Online Earning Apps” groups are just looking for a program they can sign up for really quick to earn a few bucks, they don’t care about long term investing, most of the time.
- Plan B:
You receive 1 share of stock valued between $30-$1400 whenever a new user signs up with your affiliate link and deposits at least $100 into their Webull account. This is a higher rewarding program if you’re capable of generating a high volume of leads that want to actually invest, rather than make a few dollars.
- Plan C:
You receive 1 share of stock valued between $100-$1400 when a new user signs up for a Webull account with your affiliate link and deposits at least $1000 into their account. This is great for people who have access to clients that have money to invest, not everyone is going to be able to invest $1000 into the stock market so you’ll want to know what you’re doing before choosing this kind of program.
- Influencer Referrals:
Referring another Webull influencer can also earn you some money. Webull will give you an extra $300 to refer a new influencer that can bring in 5 new customers who make deposits within their first 30 days. This isn’t the easiest thing to do, but if you find someone who has a big enough following you can make some easy money with this.
Even if you get kicked out though, you can still earn plenty of free stocks by using their regular referral program.
Webull investment research tools
Out of all the free investing apps out there, Webull has some of the best tools of them all. Sure Webull’s tools can’t compete on the same level as some of the more advanced trading platforms out there like Thinkorswim, but they are REALLY good compared to the rest of the investment app industry.
You don’t NEED fancy tools to be able to invest, but it helps to have access to tools if you need them, and Webull put a lot of effort into making their tools better than almost everyone’s.
If you want to learn how people are using Webull to make money in other ways (not just investing), or if you have some more questions about Webull, make sure you keep reading this article, because we will go over how people are using referral marketing to make some money online with Webull as well as the frequently asked questions about Webull.
Making extra money with webull
Two things I’ve learned from paying attention to the “work from home” Facebook groups the last few months are these two facts:
1.) A LOT of people are making money with Webull.
2.)A LOT of people want to learn how.
At first I was skeptical of it all, but as time goes on, it becomes more and more clear that people can actually make some money off of this.
I mean REAL people, NOT just people who have already been a marketer for professional agencies for 10 years.
I don’t want to make it sound like you’re going to just download Webull, join a facebook group, spam 5 posts and start getting commissions. That most likely isn’t going to happen, you have to put effort and thought into making money, BUT it’s not really rocket science, anyone can do it.
If you have any other questions about the Webull investing app, here’s a comprehensive list of the frequently asked questions about their app.
Will Webull offer fractional shares?
Unfortunately, Webull doesn’t offer fractional shares currently and they haven’t announced any plans to allow investors to purchase them. If fractional shares are important to you, we have an article discussing the top 3 investing apps that offer fractional shares that you may find helpful.
Does Webull offer a Dividend Re-Investment Plan?
No, Webull doesn’t have a DRIP set up and hasn’t announced one. Currently any dividend payments you receive are simply added to your buying power once they’re processed and you can invest them as you see fit.
What is Webull Paper Trading?
Paper-trading is when a brokerage allows it’s users to try out their trading and investing strategies on a demo account with fake money in order to test their skills without risking real money. Webull is one of the few investing apps that offers paper-trading.
What are Webull Points?
Webull points are a point system they have in place when you interact with their investing community. Periodically, Webull will have paper-trading competitions where users can spend Webull points to participate to use fake money to trade for a set amount of time and the winner will win some sort of reward at the end of the event.
How does Webull make money?
Similar to most brokerage firms, Webull makes it’s money in a number of ways. Here’s a list of the ways they make money:
Where are my free stocks?
Sometimes it can be a bit confusing to find your free stocks in the Webull app and you only have 30 days to claim them after you’re awarded them. To claim your free stocks simply tap the “Menu” button in the bottom right of the Webull app, then tap the “My Free Stock” button, OR visit their Free Stock Tracker.
Does Webull give real-time quotes?
Webull offers traders free real-time quotes (level 1) and charges a subscription fee for more in-depth level 2 market data for traders who need more comprehensive data.
Is Webull good for day-trading?
Yes! Webull is one of the best, if not the best, mobile invesment apps for day-trading.
Most mobile apps don’t bother including 50 indicators and 12 chart types, but Webull did!
Combine that with commission-free trades, and the ability to purchase options, and you are ready to get your gamble on (looking at you guys over at r/wallstreetbets)
How do I contact Webull customer service?
Webull’s customer service phone number is 1-888-828-0618 and their customer service email address is firstname.lastname@example.org.
The Webull team isn’t known for it’s high-quality customer service, or for short wait times, so keep that in mind when attempting to contact them. You may need to wait a while.
Let us know what you think about Webull!
We value your opinion, so if we missed anything, let us know in the comments! If Webull wasn’t what you’re looking for, check out our homepage for more investment apps we have tried and written about!
Thanks so much for reading this, if you don’t mind, please share this on social media by clicking the buttons below, leave comments if you want to discuss anything, and make sure you try out Webull if it seemed like a good fit for your investing app needs! Have a wonderful day everyone!