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Freetrade ReviewWebull Review
Written by Elizabeth Anderson
Edited by Jeff Anberg
Fact-checked by Steven Hatzakis, Joey Shadeck
Your capital is at risk.
Webull is a fairly new trading platform in the UK and still finding its feet. The major downsides are that you can only invest in US companies and Webull UK doesn’t offer ISAs or SIPPs. As a result, traders investing thousands of pounds a year may find taxes eating into their profits.
However, during my hands-on testing, I found the Webull app to be easy to use and provides better chart tools than many other competitors, including Robinhood and XTB. The Webull desktop trading platform is also impressive and well-suited for more experienced investors. Overall, Webull may be more appropriate for short-term investors or day traders rather than those looking to invest for the long term.
-
Minimum Deposit:
£0 -
ISA:
No -
SIPP:
No
Webull pros & cons
Pros
- Low fees for trading US stocks.
- Offers fractional shares.
- Access to market-leading cash interest rates through Webull Savings.
- Decent chart tools on the mobile app and desktop trading platform.
Cons
- Few investment options: Only US stocks are available.
- Can be confusing to navigate for beginner investors.
- No ISA or SIPP accounts.
Overall summary
| Feature |
Webull
|
|---|---|
| Overall Rating |
|
| Charges & Fees |
|
| Investment Choices |
|
| Mobile App |
|
| Website |
|
| Ease of Use |
|
| Education |
|
Charges and Fees
Most UK brokers charge a fixed fee to buy or sell shares, with a few offering zero trading charges.
While Webull doesn’t offer commission-free trading, its charges and fees are very low overall – if not always clear. Webull charges a percentage fee of 0.025% for buying or selling shares. As an example of what this means in practice, if you bought $6,000 worth of shares then the fee would work out at around $1.50.
As only US shares are available on the platform, you’ll also pay a charge of 0.35% to convert pounds to dollars. On a trade of $6,000, this works out at around £16. This is cheaper than many other brokers - many in the UK charge closer to 1%.
Like with most UK brokers, there is no minimum amount required to open an account with Webull and there are no inactivity or withdrawal fees.
Scenario pricing: When calculating annual share dealing costs, trading frequency and account balance are the two most important factors to consider. Assuming a £30,000 portfolio in a traditional, taxable share dealing account, here are five scenarios of how much Webull would cost based on trade frequency:
- 5 trades per year = 0.025% of trade value
- 12 trades per year = 0.025% of trade value
- 36 trades per year = 0.025% of trade value
- 120 trades per year = 0.025% of trade value
- 3 fund trades per year = N/A
| Feature |
Webull
|
|---|---|
| Minimum Deposit | £0 |
| Share Trading: 0-9 Deals/ Month | 0.025% |
| Share Trading: 10-19 Deals/ Month | 0.025% |
| Share Trading: 20+ Deals/ Month | 0.025% |
| Annual Custody Fee: £0 - £250,000 | £0 |
| Annual Custody Fee: £250K-£500K | £0 |
| Annual Custody Fee: £500,000 - £1m | £0 |
| Annual Custody Fee: £1m and over | £0 |
| Bonds - Corporate - Fee | N/A |
| Bonds - Government (Gilts) - Fee | N/A |
| ETFs - Fee | N/A |
| Investment Trusts - Fee | N/A |
| Telephone Dealing Fee | N/A |
What type of trader are you?
New to the world of investing? See my picks for the best UK trading platforms for beginners. More experienced traders should check out my guide to the best UK Trading Platforms for Active Traders. If you're looking to trade shares on the go, read my guide to the best UK stock trading apps.
Mobile Trading Apps
I was pleasantly surprised by Webull’s mobile app, which compares favourably to other investing apps. I like the fact you can explore companies by sector, being able to filter by retail, healthcare, or tech equipment. The sectors are colour-coded red or green to tell you whether the sector is, in general, performing strongly or weakly on that particular day.
There is also live pricing for shares and the app chart tools are better than Robinhood, Revolut, XTB, or CMC Invest (some of Webull’s rivals). You can compare the historical share price performance of up to three companies on a single chart on Webull’s mobile app, although you can’t overlay indices such as the S&P 500 to see how a company has performed against that particular index. You can make the chart full-screen, zoom in, and change the view to horizontal when you turn your phone on its side – more than many other apps offer.
Trending news and educational articles also feature prominently on the app, which is helpful for newer investors. It is also possible to compare cash interest rates offered by different UK banks, thanks to Webull UK’s new Webull Savings offering. This is a useful feature for Britons looking for competitive interest rates on cash savings they don’t want invested in the stock market. You can see the top interest rates for both easy access and notice accounts, even if you don’t plan on using the Webull cash savings feature yourself.
Website
In my testing of the website platform, I found it to be fairly comprehensive when I clicked on the markets tab. You can see an overview of markets in the US, Hong Kong, and China, including the top gainers and losers on different indices and the most active stocks. You can also see upcoming IPOs across the rest of the year, as well as a calendar featuring earnings and dividend payment dates.
However, I did not find it easy to search for a particular stock. I also could not find a way to edit or compare charts. The lack of these features made the Webull website feel quite restrictive.
For those looking to trade on a computer, you might be better off with Webull’s desktop trading platform, which is free to download. Before using it, you will have to set up a trading password separate from your account password for added security.
The Webull trading platform is clearly aimed at investors who already have a decent amount of trading experience, although you can open a demo account to practise trading before you commit real money.
Through the desktop trading platform, you can set up a limit order or buy at market price. You can also search stocks easily and can add up to four charts on your platform home screen to compare different companies and indices.
| Feature |
Webull
|
|---|---|
| Web Platform | Yes |
| iPhone App | Yes |
| Android App | Yes |
| Stock Alerts | Yes |
| Charting - Indicators / Studies | 12 |
| Charting - Drawing Tools | 17 |
| Charting - Notes | Yes |
| Charting - Display Corporate Events | Yes |
| Charting - Stock Overlays | Yes |
| Charting - Index Overlays | No |
Investment Choices
Webull’s investment options in the UK are very limited. You can currently only invest in US stocks. ETFs and stock options contracts are available on Webull’s US platform but not in the UK. You can view ETFs on the UK website but can’t invest in them.
Webull’s savings offering is a good way to encourage more savers to the platform. You can see the banks offering the top interest rates on easy access and notice accounts. If you choose to open an account through Webull Savings, these accounts will be opened for you and held in your name.
Savings accounts opened through Webull Savings are covered by the Financial Services Compensation Scheme (FSCS), meaning you are protected by up to £85,000 per person per bank. If you want to deposit more than £85,000, you may consider using multiple banks on the platform to diversify your risk.
| Feature |
Webull
|
|---|---|
| Share Trading | Yes |
| CFD Trading | No |
| Funds | No |
| Research - ETFs | No |
| Bonds - Corporate | No |
| Bonds - Government (Gilts) | No |
| Investment Trusts | No |
| Spread Betting | No |
| Crypto Trading | No |
| Advisor Services | No |
Education
There are quite a lot of educational guides on the Webull website. However, these have mostly been lifted from the US website and are not always relevant to the UK market. For example, there is an article about what an ETF is and why invest in them despite the fact that the UK Webull platform currently does not offer ETFs.
Inside the Webull desktop trading platform there is a learning centre where you can learn how the platform works. Lessons include how to add widgets, get a stock quote, trade, and how to customise the platform.
The research material for stocks is also very good on the desktop trading platform. You can see analyst ratings, key financial data relating to a company such as earnings per share (and the ability to compare it to other companies), and upcoming earnings releases.
| Feature |
Webull
|
|---|---|
| Education (Share Trading) | Yes |
| Education (Funds) | Yes |
| Education (Retirement) | No |
| Client Webinars | No |
| Client Webinars (Archived) | No |
Are you new to investing?
We thoroughly tested 17 top U.K. brokerages to find the best choices for beginner investors. Read more in our guide.
Final Thoughts
Webull has only been up and running in the UK for about a year. Currently, there are limitations to its offering as it only offers US stocks. I can’t see why you would open an account with Webull over, say, eToro or Trading 212 – two other low-cost investing platforms with a wider range of available products.
That said, Webull has a good app and desktop platform, low fees, and is diversifying into the cash savings market. When I asked Webull about its plans for the UK, the company said it intends to roll out “new products and markets to its clients in the UK to broaden the range of opportunities available.” They did not specify what these would be and when they would launch. I await to see what Webull UK will offer next.
About Webull
Webull is a US trading platform that launched in the UK in July 2023. It has grown quickly since originally launching in the US back in 2018. Webull's trading platform is currently available in the US, UK, Hong Kong, Singapore, Australia, South Africa, and Japan.
FAQs
Can I trade forex on Webull UK?
No, Webull does not offer forex trading in the UK and there are currently no plans to roll out forex trading. For a list of the best brokers that do offer forex trading in the UK, check out our full guide at our sister site ForexBrokers.com.
Does Webull offer paper trading?
Yes, Webull offers paper trading, also called demo accounts, to customers in the UK. In their demo environment, Webull provides $1 million in virtual money to practise buying and selling US stocks.
Can you buy fractional shares on Webull?
Yes, one of Webull’s key selling points is that it offers the chance to buy fractional shares in US companies. This is good for new investors as single shares in US stocks can be relatively expensive to buy. For example, shares in Facebook owner Meta are currently around $470. On Webull, you can purchase as little as 0.25% of a share, making the purchase of popular US stocks far more affordable.
Does Webull have cryptocurrency trading?
No, Webull does not offer cryptocurrency trading in the UK. Only a small number of UK brokers offer crypto trading, such as competitors Revolut and eToro.
Is Webull commission-free?
No, Webull UK is not commission-free. It makes money through its 0.025% stock trade fee and 0.35% FX fee for changing money from pounds to US dollars.
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Methodology
For the UK.StockBrokers.com Annual Review, we assessed, rated, and ranked 17 U.K. share dealing platforms over a 10-week time period. Each broker’s platforms and features were exhaustively tested by hand and graded on 53 different variables. In total, over 25,000 words of research were produced.
We thoroughly tested and compared features of prime interest to everyday investors, including but not limited to:
- Investment choices, such as whether the broker offers trading of shares, ETFs, funds, bonds, and CFDs; and offers SIPP and ISA accounts.
- The broker’s charges and fees for investing.
- Functionality and design of mobile apps and website platform, and a fluid experience moving between app and web.
- Usability of tools such as charting and watch lists.
- Market research, such as screening, news and analysis.
- Educational resources including tutorials, online courses, videos, webinars and articles.
Our rigorous data validation process yields an error rate of less than .001% each year, providing site visitors with quality data they can trust. Our lead researcher and writer, Elizabeth Anderson, has more than a decade’s experience as a financial journalist and market researcher. Elizabeth’s expertise is backed by a team of veteran fellow traders, data auditors, editors and project managers who work to ensure that UK.StockBrokers.com reviews and guides are the most unbiased and complete in the industry. Read more about our team.
About the Editorial Team
Elizabeth Anderson, lead writer and researcher, has been a financial journalist for more than a decade. In addition to her work with UK.StockBrokers.com, she has written extensively for major publications including BBC, The Times and Bloomberg. A keen investor herself, she is passionate about helping people understand finance and investing.
Jeff Anberg is a Staff Editor at UK.StockBrokers.com. Along with years of experience in media distribution at a global newsroom, Jeff has a versatile knowledge base encompassing the technology and financial markets. He is a long-time active investor and engages in research on emerging markets like cryptocurrency. Jeff holds a Bachelor’s Degree in English Literature with a minor in Philosophy from San Francisco State University.
Steven Hatzakis is the Global Director of Online Broker Research for UK.StockBrokers.com and ForexBrokers.com. Steven previously served as an Editor for Finance Magnates, where he authored over 1,000 published articles about the online finance industry. Steven is an active fintech and crypto industry researcher and advises blockchain companies at the board level. Over the past 20 years, Steven has held numerous positions within the international forex markets, from writing to consulting to serving as a registered commodity futures representative.
Joey Shadeck is a Content Strategist and Research Analyst for UK.StockBrokers.com. He holds dual degrees in Finance and Marketing from Oakland University, and has been an active trader and investor for close to ten years. An industry veteran, Joey obtains and verifies data, conducts research, and analyzes and validates our content.