(Update: The initial offer was that Webull would give you a free share of stock for simply opening an account. Now through 12/31/18, Webull will give you another share of stock for funding your account with at least $100. So some of you can get another share, and a new user can get 2 free shares. Thanks to
Webull also has a referral program where new users can get a
Here are the full odds from their Terms and Conditions:
$4 to $6 value, odds are ~1:1.1
$10 to $20 value, odds are ~1:24
$50 to $100 value, odds are ~1:200
$150 to $250 value, odds are ~1:333
$1,000+ value, odds are ~1:1,000
Here is
(Note: I opened a cash account. Margin accounts will require a minimum balance of $2,000. I believe this requirement is the same for all brokers.)
Robinhood vs. Webull.
- Robinhood definitely has a sleeker user-interface, which should appeal to younger users and those who want a simple trading experience. Webull has a more “busy” interface with charting, news, technical indicators, and stock screeners. You may like having more information, or you may want a cleaner app.
- Robinhood offers free options trading. Webull does not offer options at all.
- Both are primarily apps, but Robinhood has a web trading option now. Webull does not that I know of.
- Webull has customer service available via Live Chat or phone number. Robinhood only has an e-mail address.
Both will make money from normal users via interest on cash balances and selling order flow. Robinhood’s premium features basically let newbie users access a simple version of margin (flat fee instead of interest rate). Webull has traditional margin accounts that allow shorting, and makes money by selling premium subscriptions to advanced quotes so serious traders can get the absolute best bids and offers across any of 13 different stock exchanges.
Firstrade is a traditional discount brokerage firm that recently started offering
Bottom line. Webull is a new entrant to the world of free stock trading apps. The feel is more of a full-featured traditional brokerage account in app form as compared to competitor Robinhood. The free trades are the real draw, but new users can also grab a
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