9 Things You Should Know Before Using Webull (Quick Answers!)

9 Webull Questions (Quick Answers!)

Updated & Verified: May 31, 2021

These are some common things people want to know before using Webull.

As of 2020, Webull had over 11 million registered users and over 750,000 daily active users. Obviously a giant success but just because it’s popular, doesn’t necessarily mean it will meet your trading and investing needs. (1)

These are 9 of the more common questions that people have before they decide if Webull is right for them.

Table of Contents

1) Does Webull Have Instant Deposits?

Many people wonder if Webull has instant deposits which would give access to purchase stocks or crypto without having to wait for funds to first settle.

Webull does not currently have instant deposits which means you have to wait for your funds to first settle before you can use the platform to purchase stocks or crypto. (2)

The only trading platform that really offers the ability to trade right away with your funds even if they haven’t settled yet is Robinhood which does so partly because most trades on their platform are for relatively small amounts in turn mitigating their risk.

2) Does Webull Have Fractional Shares?

It isn’t uncommon for people to prefer to trade fractional shares instead of full shares because it doesn’t require as large of a financial investment and risk.

At this time, Webull does not have fractional shares. It may be something they add at some point in the future but currently you can’t purchase or trade fractional shares using Webull. (3)

3) Is Webull Legit & Safe?

As a general rule, Webull is legit and safe. It is regulated by the US Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA) and provides up to $500,000 investor protection.

4) Does Webull Accept PayPal?

At this time, Webull does not currently accept PayPal as a means of funding your account.

You can use ACH deposits from your bank account or wire transfers – both of which will incur fees from both your bank and Webull.

5) Does Webull Accept Cash App?

Currently it is not possible to fund your Webull account by using Cash App. At some point in the future it may be an option but for the time being, it is not.

6) Does Webull Accept Debit Cards?

With Webull you can not fund your account by using a debit card

With is one of the main disadvantages for using Webull as opposed to Robinhood which allows you to fund your account with a debit card.

7) Who Owns Webull?

Webull is based out of New York City but is actually owned by Fumi Technology which is a Chinese holding company.

Fumi Technology has received backing from Xiaomi and multiple other private investors from China. (4)

8) How Long Does it Take for Webull to Approve Your Account?

When you set up a new Webull account from within their app, it typically will take around 1 hour for it to be approved.

In some instances, it may take longer, however, if additional verification needs to be completed first.

9) What are the Webull Trading Hours?

Webull trading hours are the same as any other trading platform based on when the stock market is open. The stock market opens at 9:30 am and closes at 4 pm eastern time. 

With extended hours trading, it is possible to place trades from 4 am to 9:30 am prior to the stock market opening and from 4 pm to 8 pm after it closes.

References

1. Wikipedia – https://en.wikipedia.org/wiki/Webull

2. Quora – https://www.quora.com/When-making-a-deposit-of-funds-into-a-Webull-cash-account-how-soon-can-you-buy-a-stock

3. Reddit, https://www.reddit.com/r/Webull/comments/gkblyb/if_webull_had_fractional_shares_there_would_be_no/

4. Fortune- https://fortune.com/2021/02/02/robinhood-stock-trader-revolt-webull-alternative-china-app/