Webull Review (2026)
Webull suits active traders who want $0 stock and ETF options, a downloadable desktop platform and overnight trading, and who may pay $3.99 a month for Premium. The one thing to know: margin costs 8.74% at every balance on the standard account and drops to 5.45% or less only with Premium. Moving your account out costs $75.
By Wealthy Pot Editorial · Facts checked October 19, 2026
Facts checked October 19, 2026 against Webull's own fee schedules, rate pages, disclosures and regulator records (18 sources, listed below). We re-check prices about once a month. We do not earn a commission from Webull.
Webull at a glance
| Stocks and ETFs | $0 commission on US-listed stocks and ETFs [1] |
|---|---|
| Stock and ETF options | $0 commission and $0 per-contract fee; orders of 500+ contracts pay $0.10 per contract on the Held route ($0.04 Not Held) [1] |
| Index options | $0.50 per contract plus the exchange's index fee; Premium tiers it down to $0.40 and $0.30 above 1,000 and 5,000 contracts a month [1] |
| Mutual funds | Lesser of 3% or $14.95 on each purchase and each sale; money market funds exempt [6] |
| Account minimum | $0 [1] |
| Fractional shares | Select US stocks and ETFs, from $1 [8] |
| Account types | Individual cash and margin, joint, Traditional, Roth and Rollover IRA (self-directed or managed), custodial UTMA, entity; no SEP or SIMPLE IRA, solo 401(k), HSA or 529 [10] |
| Cash | Cash Management bank sweep you opt into; Webull shows the rate only in its app; cash not enrolled earns nothing; IRA cash earns 0.10% [5] |
| Margin | Standard 8.74% at every balance; Premium 5.45% under $25,000, 5.25% to $99,999.99, 4.70% to $499,999.99, down to 4.15% at $25 million (October 16, 2026) [2] |
| Transfer out | $75 per outgoing stock transfer; outgoing domestic wire $25 [1] |
| Trading hours | Pre-market from 4 AM, after hours to 8 PM, overnight 8 PM to 4 AM ET Sunday to Thursday for select securities [11] |
| Webull Premium | $3.99 a month or $40 a year [4] |
| SIPC and excess coverage | SIPC up to $500,000 incl. $250,000 cash, plus an excess policy from Lloyd's of London (limits below) [1] |
| Payment for order flow | Yes, Webull lists it among its revenue sources [1] |
| Company | Webull Financial LLC (CRD 289063), Delaware, FINRA member since January 2018; parent Webull Corporation (Nasdaq: BULL), St. Petersburg, Fla. [15] |
What a year at Webull costs
| Situation | Cost or interest | How we got it |
|---|---|---|
| Open and close a 10-contract options trade, twice a month for a year | $0 | $0 a round trip x 24. |
| $10,000 left uninvested for a year | Rate not published | Cash Management sweep (opt-in); Webull does not publish the rate on its public pages. Webull shows the rate only in its app; cash not enrolled earns nothing, and IRA cash earns 0.10%. |
| Borrow $10,000 on margin for a year | About $874 | 8.74% a year on a $10,000 balance. Interest accrues daily, so the exact figure varies a little. |
| Move the whole account to another broker | $75 | Full outgoing transfer (ACATS). |
Webull Premium: $3.99 a month or $40 a year. Cuts margin to 5.45% under $25,000 (4.70% from $100,000), raises the cash rate and the IRA contribution match (3.5% instead of 1%).
Hypothetical examples, our arithmetic from Webull's published fees, cash rate (as of October 19, 2026) and margin rates (as of October 19, 2026), read on October 19, 2026. Broker commissions and the broker's own per-contract fees only: the small SEC, FINRA, OCC and exchange fees passed through on sales and option trades are left out. Cash and margin rates move with the Federal Reserve's rate.
What Webull costs
| Plan | Paying monthly, 1 year | Annual plan, 1 year | 3 years (cheapest way) | Annual plan saves |
|---|---|---|---|---|
| Standard | $0 | - | $0 | - |
| Webull Premium | $47.88 | $40 | $120 | $7.88 (16%) |
Our arithmetic from the listed prices, before sales tax, assuming today's prices hold; subscriptions can renew at a different rate. Premium prices are from Webull's subscription help page. Premium lowers margin and index option fees, raises the cash rate on individual and joint cash accounts and the IRA contribution match, and adds Nasdaq TotalView and OPRA data.
How Webull works
Webull runs on phones, in a browser (WebTrade) and as a downloadable desktop app for Mac, Windows and Linux, with paper trading for practice. Stocks, ETFs and stock and ETF options trade at $0 commission and $0 per contract. Beyond that, the menu is wider than most app brokers: Treasuries and corporate bonds (including fractional bonds) from 7:30 AM to 5 PM ET, mutual funds at the lesser of 3% or $14.95 a trade, managed portfolios through Webull Advisors at 0.15% to 0.30% a year, and prediction-market contracts at $0.01 plus a $0.01 exchange fee each. Crypto has moved out of the main app to a separate Webull Pay app.
Uninvested cash earns nothing unless you enroll in the Cash Management program, which sweeps it to partner banks with FDIC coverage up to $250,000 per bank and $5 million in total. Webull publishes the sweep rate only inside its app, so the cost block on this page shows it as not published. IRA cash in the program earns 0.10% with or without Premium; Premium raises the rate only on individual and joint cash accounts. If you want to compare it with a bank, see high-yield savings accounts.
Webull earns from stock lending, interest on customer cash, margin interest and payment for order flow, by its own account. Margin is where the subscription matters most. The standard rate is a flat 8.74% whatever you borrow; Premium subscribers pay 5.45% under $25,000 and less at higher balances.
A hypothetical year of margin: you carry a $20,000 debit balance for 12 months. On the standard account that is $20,000 x 8.74% = $1,748 in interest. With Premium the rate is 5.45%, so $20,000 x 5.45% = $1,090, plus the $40 annual subscription, $1,130 in all. Premium saves $1,748 - $1,130 = $618 that year. Interest accrues daily and rates move with the Fed, so the real figure will differ a little. Margin can also lose you more than you put in.
Pros
- Desktop app for Mac, Windows and Linux, plus web and mobile
- $0 per contract on stock and ETF options
- Overnight session from 8 PM to 4 AM ET, Sunday to Thursday, for select securities
- $75 transfer-out fee, against $100 at Robinhood, Public and Moomoo
- Treasuries, corporate bonds and mutual funds as well as stocks
- Premium margin from 5.45% for $40 a year
Cons
- Standard margin is 8.74% at every balance
- Cash earns nothing unless you enroll, and the sweep rate is shown only in the app
- IRA cash earns 0.10%
- Mutual funds cost up to $14.95 per purchase and per sale
- Two-factor login uses SMS codes; we found no authenticator-app option
Who Webull fits, and who should skip it
A good fit if
- You trade stock and ETF options and want no per-contract fee on them.
- You want a downloadable desktop app for Mac, Windows or Linux, not only a phone app.
- You borrow on margin and will pay $40 a year for Premium rates from 5.45%.
- You want Treasuries, corporate bonds and an IRA in the same app as your trading account.
Look elsewhere if
- You borrow on margin and do not want a subscription: Robinhood charges 5.25% under $50,000 to every customer.
- You buy mutual funds regularly: Webull charges up to $14.95 a trade; Fidelity is built around funds.
- You want a published cash rate without opening the app: Public prints its High-Yield Cash Account rate.
- You want an HSA or solo 401(k): Webull offers neither; compare other brokers.
Limitations to know
- Fractional shares cover select US stocks and ETFs, not every listed security. [8]
- Overnight trading covers select securities and takes limit orders; the session runs Sunday through Thursday nights. [11]
- Recurring investments work in the mobile app only. [9]
- Foreign-settled F-shares cost $5.00 per buy and $0.05 per sell; algorithmic order types cost $0.0050 per share. [1]
- IRA matches: Premium subscribers get a 3.5% contribution match and a 1% transfer and rollover match (on up to $250,000, so at most $2,500); others get 1% on contributions and no transfer match. You must keep Premium a full year and the assets 5 years. Webull calls the 1% offers limited-time; no end date was published as of October 19, 2026. [3]
- Crypto is no longer in the Webull app; it trades in the separate Webull Pay app. [13]
Webull compared with alternatives
| Broker | Options per contract | Default cash rate | Transfer out | Fractional shares |
|---|---|---|---|---|
| Webull | $0 stock/ETF options; index options $0.50 | Not published | $75 | Yes |
| Robinhood | $0 stock/ETF options; index options $0.50 ($0.35 with Gold) | 0% | $100 | Yes |
| Public | $0 stock/ETF options (rebate program); index options $0.35 | Not published | $100 | Yes |
| Moomoo | $0 stock/ETF options; index options $0.50 | Not published | $100 | Yes |
| Fidelity | $0.65/contract | 3.48% 7-day yield if you pick SPAXX (no default named) | $0 | Yes |
- Pick Robinhood if you want margin from 5.25% without paying for a subscription.
- Pick Public if you want a rebate on stock and ETF options and a published cash rate.
- Pick Moomoo if you also want Hong Kong stocks and China A-shares in the same account.
- Pick Fidelity if you want $0 to transfer out and mutual funds as a core holding.
Security and privacy
- Webull Financial is a SIPC member: up to $500,000 including $250,000 cash. For omnibus-cleared accounts, Webull's excess policy with underwriters at Lloyd's of London adds up to $1.9 million cash per customer, capped at $100 million in total. Fully disclosed accounts at Apex Clearing fall under Apex's excess policy: $37.5 million in securities and $900,000 cash per customer, $150 million in total. [1]
- Swept cash is FDIC-insured through program banks up to $250,000 per bank and $5 million in total. [5]
- Two-factor authentication sends an SMS code when you log in from a new device, and the first WebTrade order needs a code confirmed in the app. We found no authenticator-app or hardware-key option, and no named guarantee to reimburse unauthorized losses, on Webull's help pages. [14]
- Regulator actions: in March 2023 FINRA fined Webull Financial $3 million over approving options accounts without reasonable due diligence; in May 2025 FINRA fined it $1.6 million over paid influencer posts that were not fair and balanced; in November 2023 Massachusetts fined it $500,000 over compliance staffing and supervision. [16]
- Smaller actions: a $125,000 SEC penalty in November 2024 over suspicious-activity reports, and a $115,000 FINRA fine in August 2026 over options order codes. [16]
Recent changes
| Date | What changed |
|---|---|
| Apr 30, 2026 | Affiliate broker-dealer Webull Securities (US) LLC approved as a FINRA member. [17] |
Webull FAQ
Is Webull safe?
Webull Financial is a FINRA member and a SIPC member, so up to $500,000 per customer, including $250,000 cash, is protected if the broker fails, with an excess policy on top. SIPC does not cover market losses. Webull has been fined by FINRA, including $3 million in 2023 over options approvals. Webull Corporation reported 5.13 million funded accounts worldwide in its Q2 2026 results.
Does Webull charge for options?
Not on stock and ETF options: $0 commission and $0 per contract, except $0.10 per contract on orders of 500 or more on the Held route. Index options cost $0.50 per contract plus the exchange's index fee. Regulatory and clearing fees are passed through. See our <a href="/best-options-trading-platform/">options platform comparison</a>.
What does Webull pay on cash?
Cash earns nothing unless you enroll in Cash Management. Webull shows the sweep rate only in its app, so we cannot quote it. IRA cash in the program earns 0.10%, and Premium raises the rate on individual and joint cash accounts.
Is Webull good for beginners?
It has no account minimum, fractional shares from $1, recurring investments in the app and paper trading. Standard margin is 8.74%, the cash rate is not shown outside the app, and two-factor login is by SMS only. Our guide on <a href="/micro-investing-on-small-budget/">investing with little money</a> covers the basics first.
Webull vs Robinhood?
Both charge $0 on stocks and on stock and ETF options, and $0.50 per index option contract (Robinhood $0.35 with Gold). Robinhood's margin starts at 5.25% for everyone; Webull is 8.74% unless you pay for Premium. Webull has a downloadable desktop app, bonds and mutual funds, and a $75 transfer-out fee against Robinhood's $100. See the <a href="/brokers/robinhood/">Robinhood review</a>.
How do I transfer out of Webull, and what does it cost?
Start the transfer at the receiving broker. Webull charges $75 per outgoing stock transfer. If you received an IRA match, moving the assets within 5 years can cost you the match. Many receiving brokers reimburse transfer fees.
How we researched this review
We did not get paid or receive a free account for this page. We read Webull's own pricing page, help center, security and privacy pages and app-store listing on October 19, 2026, quoted each fact from those pages, and link every one below. We did not run a long-term hands-on test, so we do not score the app; where a point rests on what the company says rather than something we can check, we attribute it to Webull. Cost figures are our own arithmetic. We re-check prices and plans about once a month and log changes in the table above.
Sources
- Webull, Pricing and fee schedule, checked October 19, 2026.
- Webull, Margin trading and rates (as of October 16, 2026), checked October 19, 2026.
- Webull Help, Benefits with Premium, checked October 19, 2026.
- Webull Help, Subscription and fees, checked October 19, 2026.
- Webull Help, Cash Management Program, checked October 19, 2026.
- Webull Help, Mutual fund trading, checked October 19, 2026.
- Webull Help, Trading bonds, checked October 19, 2026.
- Webull Help, Trading fractional shares, checked October 19, 2026.
- Webull Help, Understanding the recurring investment program, checked October 19, 2026.
- Webull Help, Account types, checked October 19, 2026.
- Webull Help, All about overnight trading, checked October 19, 2026.
- Webull Help, Account funding and fees (Webull Advisors), checked October 19, 2026.
- Webull Help, Why did Webull move crypto trading to a separate Webull Pay app?, checked October 19, 2026.
- Webull Help, Two-factor authentication (2FA), checked October 19, 2026.
- FINRA BrokerCheck, Webull Financial LLC (CRD 289063), checked October 19, 2026.
- FINRA BrokerCheck, Webull Financial LLC detailed report (PDF), checked October 19, 2026.
- FINRA BrokerCheck, Webull Securities (US) LLC (CRD 337940), checked October 19, 2026.
- Webull Corporation, Q2 2026 results press release (SEC filing, August 19, 2026), checked October 19, 2026.
Head-to-head comparisons
This review is for general information, not investment advice. Investing involves risk, including loss of principal; margin and options can lose more than you put in. Fees and rates change; check the broker's own pages before you open or move an account.