Written by Stephane Dubois
Reviewed by Sandro Pontedra
Webull General Information
Webull Financial LLC offers an electronic trading platform, accessible via mobile app and desktop computer, for the commission-free trading of stocks, exchange traded funds, options, margins, and cryptocurrencies. We are a financial company with the customer at heart, the internet as our foundation, and technology as our lifeblood.
Our leadership has extensive experience in both the internet and financial industries. We are committed to synergizing technology with finance by providing reliable, professional, intelligent and efficient products and services. Enjoy Tech. Enjoy Investing.
Individuals are an important part of the market and should not be ignored. They should be empowered with better information, tools, services, opportunities, and lower costs. Respecting the investor is respecting the market. Technology is the investor’s best friend. It vastly expands the human’s trading capabilities in terms of time, scale, and technique. Technology is the future.
What We Offer
- As a financial company driven by technology, we aim to offer:
- An all-in-one self-directed investment platform that provides excellent user experience
- Advanced and intelligent tools and services
Key Features:
- Zero Commission
- Free Real-Time Quotes*
- Multi-platform Accessibility
- Full Extended Hours Trading
- 24/7 Online Help
Brokerage services are provided by Webull Financial LLC, a broker dealer registered with the Securities and Exchange Commission (SEC). Webull Financial LLC is a member of the Financial Industry Regulatory Authority (FINRA), Securities Investor Protection Corporation (SIPC), the New York Stock Exchange (NYSE), NASDAQ and Cboe EDGX Exchange, Inc (CBOE EDGX). Webull Financial LLC is a member of SIPC, which protects securities customers of its members up to $500,000 (including $250,000 for claims for cash). An explanatory brochure is available upon request or at www.sipc.org. Our clearing firm, Apex Clearing Corp., has purchased an additional insurance policy. The coverage limits provide protection for securities and cash up to an aggregate of $150 million, subject to maximum limits of $37.5 million for any one customer’s securities and $900,000 for any one customer’s cash. Similar to SIPC protection, this additional insurance does not protect against a loss in the market value of securities. Webull Financial stays up-to-date with the latest data security in order to protect our investors’ personal information and asset data.
Webull’s Commitment to Execution Quality
Webull understands how important getting the best execution on orders is to our clients. That is why every month we commit to performing a rigorous review of our execution quality data and market venues which we route orders to. We base our routing decisions solely on the quality of execution a market venue provided during our review, we never base our decisions to route to a market venue based on the rebates we receive from them.
The commitment to our clients and ensuring you are receiving the best execution on orders starts from the top down. We evaluate a few different key metrics to determine how order flow will be routed. Let’s define some of the key metrics:
- Price Improvement (PI): The gross amount of price improvement received. This is the notional amount of price improvement received from shares executed at a price better than the NBBO.
- Effective/quoted Spread (EQ): The effective spread divided by the quoted spread. An EQ of 100 indicates an order was executed at the bid for a sell order and at the ask for a buy order. An EQ of 0 indicates the order was executed at the midpoint between the bid and ask. This means that the lower the EQ the better.
- Execution Speed: Time in seconds from when the order was received or routed to trade execution time.
Execution Efficiency: This determines how much additional liquidity orders received which may not have been executed had they not received it. For example, if the ask only has 100 shares available at a specified price and you submit an order to buy 200 shares, if you get filled on 200 shares you received 100 shares of additional liquidity.
These are just some of the metrics we consider when evaluating where to route your orders. Our goal remains to provide high quality order execution by rigorously evaluating execution data, identifying opportunities for improvement, utilizing better technology, and improving methods by which orders are analyzed.
Webull’s Commitment to Transparency
We believe that all traders and investors should have transparency into how your order is executed behind the scenes after you press the submit button. That is why we made the commitment to publicly display our execution quality data on a quarterly basis.
Webull Financial LLC is registered with and regulated by the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA). It is also a member of the SIPC, which protects (up to $500,000, which includes a $250,000 limit for cash) against the loss of cash and securities held by a customer at a financially-troubled SIPC-member brokerage firm.