Skip to content
Is Webull safe?  • Benzinga

 |  Latest News Headlines

Is Webull safe? • Benzinga

| Local Business News | Yahoo news


Webull, founded in 2017, can best be described as a mobile app-based brokerage firm that offers commission-free stock trading and exchange-traded funds (ETFs). It is regulated by the United States Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA).

As a provider of brokerage services, Webull is safe and properly regulated in addition to providing active technical indicators, economic calendars, research agency ratings, margin trading and short selling. Webull is regulated by leading financial authorities and offers maximum investor protection of $500,000, including a $250,000 cash limit under the Securities Investor Protection Corporation (SIPC) protection program, which are all great indications of its security and investor protection.

According to its FINRA BrokerCheck report, Webull is a member of the SEC and six self-regulatory organizations and is registered in 50 US states.

From a trader’s perspective, Webull’s trading platform is designed for intermediate and experienced traders, although new and inexperienced traders can also benefit from the mobile app. Webull is widely regarded as one of the best alternatives to apps like Robinhood Markets Inc. (NASDAQ: HOOD). Another reason why this platform is a great starting point for traders is a transparent account registration process. Plus, there’s no minimum deposit and everything is fully digital and super-fast.

Is Webull safe?

Before you start using a brokerage service, you need to make sure that the platform, website, or app is legit. As an investor, you want to know that your money is safe on the platform you use. Webull meets these needs. It is regulated by the Hong Kong Securities and Futures Commission (SFC) in addition to the SEC and FINRA.

In addition, Webull uses a clearing company, Apex Clearing, which has taken out an additional policy to protect its users. This coverage protects securities and cash up to $150 million, subject to maximum limits of $37.5 million for a client’s securities. However, the money is protected up to $900,000. This supplementary insurance is similar to that of the SIPC in that it does not protect against the loss of value of the securities.

Investor protection at Webull

One of the questions you might have is whether Webull is a legit platform. The regulations to which it is subject and the organizations of which it is a member testify to its legitimacy.

FINRA: FINRA regulates stockbrokers, equity brokers, and funding portals. A broker-dealer engages in the business of buying and selling securities on behalf of its clients or on its account. FINRA regulates brokerage firms, including Webull.

SECOND: Most brokers must register with the SEC and join a self-regulatory organization (SRO). Webull is subject to SEC regulations.

SIP: The SIPC protects against the loss of cash and securities – such as stocks and bonds – held by a customer of a SIPC member brokerage firm in financial difficulty. The limit for SIPC protection is $500,000, which includes a $250,000 limit for cash. Most clients of bankruptcy brokerage firms are protected when assets are missing from client accounts. There is no requirement that a customer reside or be a citizen of the United States. A non-US citizen with an account at a SIPC member brokerage firm is treated the same as a resident or citizen of the United States.

SIPC only protects the custody function of the broker-dealer, which means that SIPC works to return to clients the securities and cash that are in their accounts at the time the liquidation of the brokerage firm begins. SIPC does not protect commodity futures contracts (unless held in a special portfolio margin account), foreign exchange transactions, investment contracts (such as limited partnerships), and fixed annuity that are not registered with the United States Securities and Exchange Commission under the Securities Act of 1933.

How does government regulation help investors?

SECOND: The SEC, a US government agency, protects investors, promotes fairness in the securities markets, and shares information about companies and investment professionals to help investors make informed decisions and invest safely. confidence.

FINRA: FINRA protects corporate integrity and allows companies to participate in the market with confidence. It deploys its expertise, market intelligence and state-of-the-art technology to oversee the brokerage industry. FINRA is a US government-authorized nonprofit organization that works under the supervision of the SEC and is actively committed to providing essential tools to investors, member firms, and policymakers.

Financial situation of Webull

Webull’s 2020 audited financial statements by the SEC show its total assets are estimated at $30,137,554 and total liabilities at $16,369,709, while total liabilities and members’ equity are estimated at 30,137,554. $. In 2021, Webull was considering an initial public offering in the United States that was expected to raise $300-400 million. WeBull’s most recent funding round was a $150 million Series D round on February 18, 2021.

The China-based company signed a partnership with Benzinga in June 2019 to offer traders the best tools, features and indicators.

About Webull

Webull provides brokerage services. The company focuses on commission-free trading and in-depth market data research services. As a financial company with the customer at heart, the Internet as its foundation and technology as its engine, it is committed to combining technology with finance by providing reliable, professional, intelligent and efficient products and services. Its management has extensive experience in the Internet and financial sectors, which allows an effective combination to optimize the trading experience.

Webull appeals to the first generation of mobile casual investors with its sleek interface for desktop and mobile apps, but the brokerage also offers an impressive array of tools for active traders. Although its relatively weak educational content may leave out true beginners and it lacks access to a few common asset classes, it stands out as a top broker.

To start

securely via Webull website

Best for

Intermediate Traders and Investors

Exam in 1 minute

Webull, founded in 2017, is a mobile app-based brokerage firm that offers commission-free stock and exchange-traded fund (ETF) trading. It is regulated by the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA).

Webull offers active traders technical indicators, economic calendars, research agency ratings, margin trading and short selling. Webull’s trading platform is designed for intermediate and experienced traders, although novice traders can also benefit.

Webull is widely regarded as one of the best Robinhood alternatives.

Best for

  • Active traders
  • Intermediate traders
  • Advanced traders
Advantages

  • No account maintenance fees or software platform fees
  • No fees to open and maintain an account
  • Intuitive trading platform with technical and fundamental analysis tools
The inconvenients

  • Does not support trading mutual funds, bonds or OTC stocks

Advantages and disadvantages of Webull

Like most trading platforms, Webull has advantages and disadvantages which are described below.

Advantages:

  • Low costs
  • Easy to use platform
  • Advanced tools
  • Access to cryptocurrencies

The inconvenients:

  • No mutual funds
  • Little educational support

Webull is legit and designed for traders

Webull is an excellent brokerage for traders at all levels. Its web-based platform offers an excellent fit with an optimal variety of command categories, decent customization (workspace, graphics), and user-friendliness. The well-designed Webull mobile platform boosts security with two-step authentication. It charges no commission and no payments or finance fees for ACH transfers, although wire transfer fees are higher than some competitors.

Frequently Asked Questions

Can I entrust my SSN to Webull?

1

Can I entrust my SSN to Webull?

request

Henry KOUAM

1

Webull is registered and regulated by the SEC, FINRA and SIPC. When you create an account, you share your social security number, which is normal and required by industry regulations.

Answer link

responded

Benzinga

Is Webull safe for beginners?

1

Is Webull safe for beginners?

request

Henry KOUAM

1

If you are a complete beginner, you may find that the more comprehensive educational and training components offered by other brokers are more suitable for you. However, if you have an intermediate level of experience, are interested in active trading, or are hoping to improve your trading skills through advanced orders and technical analysis, Webull might be a good choice, especially considering of its low price compared to brokers with similar offers.

Answer link

responded

Benzinga

Is Webull safe? • Benzinga

| Latest News Headlines Google News
cnbctv18-forexlive-benzinga

Not all news on the site expresses the point of view of the site, but we transmit this news automatically and translate it through programmatic technology on the site and not from a human editor.