Webull Review – by James Yost – 7/25/2018
There are a plethora of resources for the new and experienced trader alike. Today I’m grateful to the Deep Value ETF Accumulator for giving me the chance to spread word about Webull Financial LLC. Some readers may already be familiar with Webull and know that it offers commission-free trades similar to Robinhood. However, Webull’s app actually offers so much more, making it an incredibly feature-rich app, one I would argue outweighs Robinhood in terms of quality resources for a trader. Read on below to find out just what Webull has to offer!
One of the more popular features on Webull, and my personal favorite, is access to Level 1 quotes. For those that don’t know, ‘Level 1’ quotes are real-time bid/asks at a given point. There are some limitations, such as the inability to determine quotes by market maker like Level 2 can. But Level 1 access can allow a trader to see if their entire position will be filled at the specified price, or if only a portion will execute. This can be very helpful, especially when buying a significant number of shares in a smaller stock. You can get Level 1 access in certain other brokers like TD Ameritrade, but these brokers charge for their trades. Webull, as we know, doesn’t charge for their trades. Level 1 is freely accessible to all Webull users so long as their account remains funded.
Webull Watchlist
Using the Watchlists feature on Webull, it’s easy to track stocks in the United States as well as Canada. Canadian stocks, especially Canadian marijuana stocks, have garnered a lot of attention recently. Using their watchlists, it’s easy to track stocks like Aurora Cannabis (ACB) or Supreme Cannabis (FIRE). Better yet, Webull also allows you to directly import your watchlist from Yahoo Finance. By signing into your Yahoo Account via Webull, you’ll be able to sync the stocks you watch to Webull.
Webull Streams – Top News
Webull Streams – Technology
Webull Streams – Business
Webull Streams – Currency
While I personally am at a computer all the time and check my news through various browsers, I understand the necessity to have everything you need at your fingertips on a mobile device. Webull seeks to give you that kind of access by providing you with “Streams.” Streams is one of several tabs at the bottom of the Webull interface including “Watchlists,” “Markets,” and “Trade.” Streams provides with a variety of streamed information, such as Top News from Reuters, 24×7 news stream snippets, news directly related to the market, business, technology, commodities, currencies, ETFs and even Cryptocurrencies. Using the Webull Stream, you don’t need to leave the app to keep news under your thumb, an inch away from the trade you want to make.
Curious about other markets? Many traders are. Webull wants to cater to that need! The “Markets” tab allows users to watch markets in the United States, United Kingdom, Germany, Cryptos, Futures, Forex, Commodities, Mutual Funds, ETFs & Global Indices! That means you can watch the Dow Jones Industrial Average, the Nikkei 225 Index, Bitcoin to USD on Bitfinex, Dollar to Yuan, Brent Crude and SPY, all with just a swipe. Various markets are easily accessed in an interface designed to be easily wielded.
The “Explore” tab has additional features that I find greatly enrich the Webull experience. I’ve broken them down below:
- New traders will benefit from Paper Trading. I’m sure many new traders have heard of the importance of Paper Trading before using their own money. With Webull, you’ll be able to Paper Trade, so you can develop the foundations important to your trading style.
- The Screen functionality is outstanding. Within the app you can create a new screener that fits your needs. For example, you can identify stocks in a specific sector, such as Technology Equipment with a dividend of more than 2%. That scan yielded my stocks like AVGO, HRS, AAPL, QCOM, Seagate and more. You can check for technical indicators like MACD, Golden Cross, Bullish Engulfing and RSI6 Over Sell.
Webull Calendar
- There are also two Calendar sections, one specifically titled “Calendar” and one titled “IPOs.” I’m sure you can guess what the latter is for: dates of IPOs! A quick glance at the time of writing shows me that Wednesday July 25th will have IPOs for Bloom Energy Corp (BE) and Greenland Acquisition Corp (GLACU). The Calendar feature allows us to easily check Earnings dates (such as CAT on 7/30/2018), Ex-Dividend Dates (PSEC at .06/share on July 30th) and various economic reports. The format is clean and easily read, with each date having a column of Earnings, Ex-Dividends and then Economy.
Webull Executive Holdings
- Then there’s the Executive Holdings icon, one that I find very interesting! By clicking on Executive Holdings, you can see the increase and decrease in executive holdings in each position. By looking at it today, July 23rd, I can see that Facebook had decreased shares of 4.7 million in one month! On the other end of the spectrum, I can see that MercadoLibre (MELI) had an increase of 16.52K shares in one month.
Webull Streams – ETFs
Webull Steams – Global Indices
- The final three icons are Extended Hours, U.S. ETFs and Global Indexes, respectively. Extended Hours allows us to watch stocks of interest after market hours, as the name suggests. The U.S. ETFs section lets us watch various ETFs in the United States such as EDZ, TVIZ and XHS. Global Indexes lets us view, you guessed it, indexes across the globe. There’s of course the DJI (Dow Jones), but also Asia-Pacific Indexes like the Nikkei 225, SSE Composite, Hang Seng and more. There are indexes from Europe as well as Forex and Commodities to round out the list.
Webull Alerts
Lastly, I would be remiss if I didn’t mention the ability to get advanced quotes at a cost. While Webull offers Level 1 quotes for free to any funded account, users can spring for a variety of additional level 1 and level 2 quotes. These offerings include (but are not limited to) Level-1 from TSE, Level -2 from HKG and Level-1 from DE. Keep in mind that the Level-1 currently provided is from the NYSE.
There’s definitely a lot of functionality to Webull that I think has been left understated. Give it a shot, hopefully it will enrich your trading adventure and not simply be another web page or app that you occasionally check. You can follow the link below to sign up. Apply for an account and upon approval, you’ll have a free stock and an opportunity to start trading with their great platform!
– James Yost
Disclosure: There are affiliate links contained in this post that link to Webull Financial LLC. No direct compensation has been given in exchange for this article. Neither the writer of this article or the website owner are investment advisors. Please perform your own due diligence or seek the advice of a Registered Investment Advisor prior to investing in any security mentioned in this article.