Webull: broker reviews and ratings
Description of Webull: trading privileges and investment portfolio
Webull attracts new clients with its numerous trading privileges and the opportunity to diversify their investment portfolio through a variety of assets, such as stocks, ETFs, and options. However, some people notice the company’s dishonesty and claim that it resorts to purchasing positive reviews. The review examines the essence of this brokerage organization’s activities and analyzes its legal documents.
Getting to know the Webull web platform
The Webull site is available in two versions: in Chinese and English languages. Although the site has no Russian translation, the presence of reviews in Russian implies active interaction between the company and Russian traders. The broker’s domain was registered back in 2005, although it previously belonged to another company and was even put up for sale.
Contact information is provided with a fake phone number and email. In addition, the company maintains social media accounts for advertising and publishing pseudo-analytical materials.
Information about the Webull company
Webull, which started its operations in China, today positions itself as an American broker with an office in New York. During its operations, the company has become a member of a number of financial organizations, including FINRA, SIPC, NYSE, and NASDAQ. The broker holds a license from the U.S. regulator SEC to operate in 53 U.S. states.
Despite claims of only collaborating with American clients, in practice, the broker offers services to traders from Russia, although it does not intend to act honestly beyond its jurisdiction.
For legal activities in Russia, Webull had to comply with a number of requirements, including registration in the Unified State Register of Legal Entities, joining a self-regulatory organization, and obtaining a license from the Central Bank of Russia.
Diversity of trading instruments
Webull promises its traders a wide range of stock market instruments, a convenient terminal with fundamental and technical analysis capabilities, top-notch analytics, and full support from customer service. The minimum deposit on the platform starts from 1 dollar. The offered options include:
- an individual brokerage account with a promise of zero spreads and leverage of up to 1:4 for day trading and 1:2 for overnight operations;
- IRAs with various options for retirement savings depending on the client’s age and types of contracts.
Reviews indicate that Webull’s payment responsibility is low, which implies the risk of investment loss and dishonest interaction with traders.
Customer reviews and scam methods in Webull
A significant number of negative reviews about this company are appearing online. Users are unhappy with their cooperation results and complain about significant financial losses.
Webull tries to improve its reputation by ordering reviews, but independent platforms quickly expose this approach. Internal documents and websites do not guarantee users financial security and notify them of investment risks.
Conclusions on Webull
Webull is criticized in the Runet for dishonest behavior and non-fulfillment of obligations to clients. Entrusting your finances to Webull can get you involved in a scam and lose your investments forever.