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Webull Securities Australia Pty Ltd is a popular online trading platform amongst Australian investors, thanks to its accessible user interface, low fees, and some good marketing campaigns.
Intermediate and advanced investors will not feel out of place either, as Webull offers an impressive list of financial instruments alongside customisable charts.
The firm's customer service team is very helpful and professional. This could be an alternative trading platform for advanced crypto traders who fancy a change in some asset classes.
Webull overview
The firm's US entity Webull Corporation Webull burst onto the scene in 2017 as part of the wave of mobile-first investment platforms.
As of September 2023, the Webull app has been downloaded more than 40 million times globally.
The firm's main reputations are its excellent customer experience, a sleek mobile application, and a modern desktop interface.
However, Webull is perhaps best known for its low-commission trading, allowing Australians to cheaply access domestic and international markets.
Webull Securities Australia Pty Ltd has an Australian office in the heart of Sydney.
WeBull pros and cons
Pros
- $0 brokerage trading for over 3,300 Australian and US ETF trading.
- Webull is a CHESS-sponsored broker and a registered trading participant on the ASX.
- Extremely low (to no) commission trading for stocks and options;
- Terrific-looking mobile app and desktop platform, making navigation a breeze;
- Acess to paper (virtual) trading for beginners to practice investing without risk.
- Earn 4% to 5.5% yield on the uninvested USD and AUD.
Cons
- Currently does not offer Crypto Trading;
- Does not offer Australian Options;
- Offers a limited social trading feature.
WeBull Australia at aglance
Picture supplied
Assets available
Webull has become a mainstay of the Australian investment scene thanks to its array of securities on offer with many more planned on the agenda.
- Australian stocks and ETFs
- US stocks and ETFs
- US Options
- Hong Kong stocks and ETFs
- Standard Margin Facility
- Fractional shares
- Australian Warrants
All up, Webull offers over 15,000 assets for customers to pore through.
Advanced investors wanting to trade derivatives must apply through their Webull account. Australians can access long call, long put and stock covered calls.
Webull features we liked
Social trading
Webull's excellent mobile user interface isn't just limited to buying and selling stocks.
There is a pronounced social element to the platform, allowing users to follow other accounts and keep up to date with financial trends via a community feed.
Paper trading
Simulated, or paper trading, is a powerful way for newcomers to gain experience in the investment world. Customers can utilise US $1m in virtual funds to practice trading without risking any real assets.
Check out some of our other demo trading platform picks in Australia.
Picture supplied
Charting
Webull also caters to more advanced investors thanks to its charting integration. Users can take advantage of research tools which include high-level charts, order book information and technical indicators.
Moneybull
A unique offering, Moneybull allows Webull customers to earn passive income on idle cash sitting in their Webull trading account. Leftover funds are applied regulated Money Market Trust Fund, which generates a variable yield up to 5.2 per cent.
Biometric Security
Webull mobile customers can secure their account using popular biometric solutions such as Facial Recognition and Fingerprint ID.
Promotions
One of Webull's most prominent features is the regular signup promotions for new and existing customers. Although these vary and are not always available, Australians can often use a referral link to kickstart their Webull portfolios.
Webull fees examined
Webull Australia does not charge any monthly fees for open accounts, nor do they charge deposit or withdrawal fees made via Australian bank transfer.
The first thirty days of trading on Webull are commission-free - after that, fees will be incurred depending on the asset being traded.
Picture supplied
Our final verdict
Webull is an attractive trading platform for Australians due to its low commission fees and a plethora of international stocks, options, and ETFs.
It is a particularly appealing platform for investors who prefer US assets, ETF investing, or those who want low fees on ASX and US equities or US options but don't want to compromise on advanced trading tools.
While there are plenty of options suited for experienced investors, access to advanced instruments like derivatives is fairly limited for Australian customers.
That said, Webull ticks several boxes for Australians seeking a cost-effective, sleek and modern trading platform to exchange international assets.
Disclaimer: This information is general and is for educational purposes only. We do not provide financial advice nor does it take into account your financial situation. These platforms can be complex and investors should obtain professional advice from an independent financial advisor where appropriate and make your enquiries. ENTR Media may receive compensation if you visit their website. This article has been fact-checked by WeBull Securities for accuracy at the time of publication.
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