Webull Online Brokerage Review: Lowest Fees On the Market?
Webull Online Brokerage Review: Lowest Fees On the Market?
ValueChampion Rating 
Pros
- No commission and no management fees for US stocks and ETFs (terms and conditions apply)
- Supports fractional trading for US stocks
- Allows you to earn interest on your idle cash
- Allows you to automate your investing
Cons
- Provides access to US, HK and CN markets only; does not trade SG stocks
- Low fees to trade are valid during the promotional period and are subject to change
- Limited investment features
| Summary of Webull Online Brokerage |
|---|
| Low commission fees and no platform fees |
| Supports fractional trading of US stocks and ETFs |
| Earn competitive interest on idle cash in your margin account |
| Allows you to automate your investing for convenience |
| Promotions: |
|---|
Table of Contents
What Makes Webull Stand Out to Investors
Webull is a good option for investors who are just getting started out in their investing journey as the brokerage platform offers little to no fees to trade stocks and ETFs. The commission and platform fees for Webull are amongst the lowest currently on the market. With zero commissions on trading in US markets as well as zero platform fees for trading in all US, HK and CN markets, it is hard to find other brokerages in the market that can beat these current rates.
| Market | Fee Type | Charges |
|---|---|---|
| US Stocks and Exchange Traded Funds (ETFs) | Commission | USD0* |
| Platform fee | USD0 | |
| HK Stocks and Exchange Traded Funds (ETFs) | Commission | 0.03% of total trade amount (min. HKD12) |
| Platform fee | HKD0 | |
| China A-Shares Stocks and ETFs | Commission | 0.02% of total trade amount (min. CNH12 per trade) |
| Platform fee | CNH0 | |
| Note: Zero commission for US stocks and ETF is a promotional rate and is valid till 30/09/2023 | ||
There is, however, a caveat to Webull’s fee structure. Webull’s zero commission structure for US stocks and ETF is only for the current promotional period and is subject to change. While unclear if or when the brokerage will raise its fees, it is important to stay up to date with any changes in Webull’s fee policies as it is not unreasonable to think that Webull may introduce some trading fees later down the road.
Another limitation of Webull is that it currently does not offer trading of SG stocks and ETFs. If you are an investor who is primarily interested in investing in the Singapore market. Webull would not be the right brokerage platform for you.
That being said, Webull has competitively priced fees for their available markets compared to other brokers. This is mainly because Webull does not currently charge any platform fees.
Despite similar commission rates as other discount brokers, the overall cost to buy and sell stocks on Webull is currently lower after factoring in Webull’s zero platform fees, making it enticing to those who are investing small amounts and need to minimise their fees so as to not eat into their profit margins.
| WeBull | Tiger Brokers | moomoo | ||
|---|---|---|---|---|
| US Market | Commission | USD0 | USD0.005 per share Min. USD0.99 per order Max. 0.5% * of trade value per order | USD0 |
| Platform Fee | USD0 | USD0.005 per share Min. USD1 per order Max. 0.5% of trade value per order | USD0.99 per order | |
| HK Market | Commission | 0.03% of trade amount Min HKD12 | 0.03% of trade value Min HKD7 per order | 0.03% of Trade Value Max HKD3 |
| Platform Fee | HKD0 | 0.03% of trade value Min HKD8 per order | HKD15 per Order | |
| China Market | Commission | 0.02% of trade value Min CNH12 per trade | 0.03% of trade value Min CNH7 per order | 0.03% of trade value Min CNH3 per order |
| Platform Fee | HDK0 | 0.03% * of trade value Min CNH8 per order | CNH15 per order |
Trading Fractional Shares
On top of Webull’s low fees, what makes Webull particularly beginner-friendly is that the platform supports fractional shares. You are able to trade US stocks in as small a denomination as 0.01 shares or US$5. Hence, if you are just starting out in your investing journey and do not have a large pool of funds to invest, this is a great tool for you to gain exposure to markets on a smaller budget.
Earn Interest On Your Idle Cash
Webull’s “Moneybull” feature allows you to earn interest on your idle cash balances in your brokerage account so that you are not losing out on potential gains while you wait on the next suitable trade. You are able to earn up to 4.52%* 7-day yield p.a. on both your SGD and USD cash balances.
Do note that the Moneybull feature is specifically designed for margin trading accounts where your idle cash is automatically invested into low-risk cash funds. Hence, the interest you earn is not guaranteed. It is subject to the performance of the underlying cash funds, which means that you will be exposed to a low level of investment risk.
That being said, the minimum account balance to earn interest on your idle cash is significantly lower than other competitor online brokerages like Interactive Brokers, which require thousands in cash balances to earn interest. With Webull’s Moneybull, the minimum amount of idle cash required to start earning interest is only S$1 or US$1.
- Rates advertised are based on the 7-day yield p.a. as of 13 March 2023 and are not indicative of future performance. See website for more information.
Webull’s Regular Savings Plan
Webull also offers a service called the Regular Savings Plan. It is an automated service that buys US stocks, ETFs and mutual funds as per your predetermined amount and frequency with the goal to make dollar-cost averaging into your favourite stocks effortless for you.
The regular savings is similar to robo-advisors in their ease of use as everything is automated. This means that there is no work required on your part to buy into your favourite stocks, ETFs and mutual funds. However, unlike robo-advisors, there is no financial advisory taking place. You are in full control of what stocks are being bought and the frequency (weekly, bi-weekly or monthly) that they are being bought at.
Thus, the Regular Savings Plan is a good tool for those who want to automate their investment while still maintaining a hands-on approach to what exactly they are investing in.
Webull Investor Eligibility & Sign-Up Requirements
To sign up for a Webull account, users just have to download the mobile application or go onto their website and proceed with opening an account. Singapore citizens, PRs, and passholders can sign in using their Singpass accounts, with no additional documents required.
Non-Singpass users will need to prepare the following documents to complete the in-app application process: Identity document or Passport Proof of residential address Tax residency and tax identification number (if any).
You can fund your account via Electronic Direct Debit Authorisation (eDDA), Fast and Secure Transfers (FAST) and Telegraphic Transfer (TT) to start trading today.
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Enya is a budding Research Analyst at ValueChampion. She has a BA in Economics from the University of Melbourne and has previously worked in the banking sector. Enya combines her experience and passion for personal finance to bring digestible and enriching financial content to readers.