Is is Safe to Use Webull? - VPN Unlimited (2024)

FAQs

Can I use a VPN for Webull? ›

Multiple VPN protocols

Webull VPN service by KeepSolid provides 5 super-fast VPN protocols. By default, VPN Unlimited automatically picks the optimal protocol according to the current network setting and your connection conditions. Also, you can switch VPN protocol into the app settings on your own.

Data Protection and Privacy

Webull uses 128-bit encryption to protect customer data. This means that your data is turned into a code that only Webull can read. Even if hackers were able to steal your data from Webull, they wouldn't be able to read it.

Yes, you can trust Webull with your Social Security number. Webull uses top-of-the-line encryption to protect your data. In addition, the company's privacy policy states that it shares personal information, like Social Security numbers, only with third-party analytics companies such as Google Analytics.

Webull Cash Management service protects your funds through FDIC insurance. The uninvested cash in your brokerage account (cash intended for investing but that you have not yet invested) is swept to program banks, where it becomes eligible for FDIC insurance up to $250,000 per program bank ($1,250,000 in total).

In most jurisdictions, the use of VPNs is legal. Some countries such as the U.S. and the U.K. allow citizens to use these tools to protect their online privacy and access geo-restricted content. In contrast, many countries ban VPNs as part of broader efforts to control internet access and suppress dissenting voices.

Is it illegal to gamble with a VPN? No, it's not illegal to gamble with a VPN. By using a VPN to access gambling sites, you are simply protecting your online traffic from being tracked and ensuring that your personal information is kept secure.

Webull is owned by Hunan Fumi Information Technology, a Chinese holding company that has received backing from Xiaomi, Shunwei Capital, and other private equity investors in China. Webull's holding company is incorporated in the Cayman Islands and headquartered in St. Petersburg, Florida.

This program requires the broker to verify the identity of any person seeking to open an account and to maintain records of their information. We do not intend to use this data for anything other than the fulfillment of our regulatory requirements and will take the security of all collected data very seriously.

Robinhood is the better platform for investing in cryptocurrencies as Webull no longer supports crypto-trading.

Your SSN/ITIN card photo might be required for verification purposes when applying for an account. If you don't have one on hand, a most recent W-2 tax form will also be acceptable. Please refer to the screenshots below to upload a completed W-2 form for verification.

How do I make sure my SSN is safe? ›

Those who prefer easier access to technical data may prefer Webull and its advanced charting. On the other hand, Robinhood's intuitive trading platform makes it an ideal choice for investors hoping to keep things simple. Robinhood's IRA match may appeal to retirement investors.

Fund Withdrawal to local bank account

Webull will not charge any fee on providing fund withdrawal service , all bank charges will be deducted from the withdraw amount. (If you withdraw CNY to a virtual bank, the bank will charge a CNY¥ 8 handling fee. The handling fee amount is subject to the bank.)

Cons Explained

Limited range of tools for portfolio management: While Webull provides a lot of helpful tools for traders on its platform, portfolio management tools are lacking.

Please be aware that there will be reversal fees of $5 per transaction if the funds are returned. The maximum amount per day for ACH deposits is $50,000 and it is the same for ACH withdrawals. Wire transfers are not a free service. Wire transfers have no maximum transfer amount per day on Webull.

Internet Service Providers (ISPs) sometimes throttle bandwidth for certain online activities, including trading. By using a VPN, your internet traffic is encrypted, making it harder for your ISP to identify and throttle your connection, potentially improving your trading experience.

International Account Opening Process: Typically, for non-U.S. residents, opening an account with Webull involves a specific application process. Users are often required to provide documentation proving their identity, residency, and sometimes tax information.

No, a VPN can only offer access to Robinhood's platform and not in any way facilitate an account opening since the broker requests a valid ID. Proving US residency remains an essential requirement. No VPN is able to sidestep this requirement–only shift your IP.

You must reside in the U.S. full-time to use Webull's services.