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Commission-Free Stock Trading - App & Online - Webull

03/12/2020

Commission Free Stock Trading

When it comes to trading, every penny matters. Whether your orders are for 1,000 shares or just one, maximizing your returns depends on your ability to buy into your position at the best possible price.

You won't be able to control all the elements of your trade. If the price of a stock jumps just as you're placing the buy order, you don't have many options—either accept the higher price or attempt to cancel the trade. One aspect you can control is the commission fee. If you aren't taking advantage of commission-free stock trading, then you are missing out on a simple way to reduces your costs.

How Commission-free Stock Trading Works

When you take away commissions from the process, you're essentially left with commission-free stock trading. Once your account is set up and funded, you simply need to pick stocks and place trade orders as you see fit.

Open Account

Opening an account with Webull is easy to do, but you will have to make some decisions. First, you'll have to decide what kind of account will fit best with your investment goals. If your goal is to prepare for retirement, for example, you'll likely want to open an Individual Retirement Account (either a standard IRA, rollover IRA, or Roth IRA). For beginners who want to dip their toes in the trading waters, a cash account will allow you to trade stocks and withdraw cash as you see fit. Experienced traders seeking high-risk/high-reward trades can take advantage of Webull's margin accounts.

When you know what kind of account you want to open, you just need to submit an application. Applications are typically approved within one business day.

Fund Account

Now that you have an account with Webull, it's time to add money to that account so you can start investing. The easiest and cheapest option for doing this is an ACH deposit (though you can also use a wire transfer). You'll have to verify your bank account the first time you set up this connection. After that, you can transfer money whenever you feel like it.

It usually takes five business days for transferred funds to land in your Webull account. As you wait for the transfer to complete, you will have part of the transfer credited to your account. As long as you start the transfer before 4 p.m., you should be able to execute a trade with your partial credit before the end of the day. The exact amount of your partial credit depends on the size of your cash deposit and how much cash you currently have sitting in your account.

Trading

You can trade stock by selecting "Trade" on any stock's quote page. You can find a stock's quote page by selecting it from your watchlist, or by searching for it on Webull (regardless of whether you're using Webull's website, desktop app, or mobile app).

With a stock in mind, you'll have to decide how you'd like to trade it. Do you want to buy the stock or sell it? Do you want to place a market order or a limit order? A market order executes instantaneously, but it doesn't guarantee a price. A limit order, on the other hand, guarantees a price, but it won't guarantee a timeframe. Your limit order might not even execute at all if you set the price too ambitiously.

Other options include a stop-loss order, which seeks to protect traders from a stock in freefall, and a stop-limit order, which incorporates elements of a limit order into a stop-loss strategy. Webull offers more advanced trading techniques to experienced traders. These techniques include options trading and the ability to short stocks.

Most trading happens between the hours of 9:30 a.m. and 4 p.m. Eastern Standard Time. However, you can place limit orders on Webull just before and after market hours — this is known as "extended hours trading."

Available Platforms

No two traders trade the same way, and Webull seeks to provide the best experience for all trading preferences. Whether you prefer sitting at your desk with browser tabs full of research or using a streamlined mobile app from the couch, Webull meets you where you are and brings along cutting-edge trading tools.

iOS App

Webull's iOS app puts all the trading tools the pros use into the palm of your hand. You can do all your investing on the app, or use it to fire off a trade on your lunch break every once in a while. This one-stop trading shop offers research tools, account management options, and — of course — the trading interfaces you need to place orders.

Google Play Android app

Android users can take advantage of all the benefits that iPhone users enjoy, just download Webull from the Google Play store. From opening an account to placing a trade order, to transferring money into and out of your account, the Android app will allow you to accomplish all your investment goals from your phone.

Web Browser App

If you don't make a trade without cross-referencing research and news stories from a variety of sources, your best option may be to bookmark the Webull app on your favorite internet browser. The webpage integration makes this a flexible trading option. You can access Webull from any internet browser.

Windows App

If you enjoy trading from a desk, but you don't want to open up a browser every time you want to place an order, you can download the native Windows app. This offers all of Webull's trading tools in a package that's optimized for a Windows desktop experience.

Mac App

Mac users can also download a native desktop app for their computers. Like the Windows app, the Mac app adds trading tools directly to your desktop. Just ensure you're connected to the internet, open up the app, and you're ready to trade transfer, or research.

Are There Any Fees?

Historically, brokers took advantage of any opportunity to shave off a little of your profit in the form of fees. To be fair, trades were more difficult to coordinate before the digital era. Your broker had to take your order, bundle them with similar orders, and try to find someone elsewhere in the market to accept your trade. As the trade worked its way toward execution, all the people who helped the trade take shape were compensated with a small fee.

Webull takes advantage of technology to streamline this process. By simplifying trades and utilizing digital efficiencies, Webull can drop the fees that hampered traders in years past.

Trading Fees

Webull will never charge a commission on your trade — period. However, federal agencies do impose fees on sell orders. These fees are small ($0.0000221 per transaction dollar and $0.000119 per transaction volume), but they are worth noting. As a result, you can expect to pay at least $0.02 in fees for every sell order you place.

Margin Rates

If you have a margin account and borrow money to enhance the volume of your trade ("trading on the margin"), then you can expect to pay interest on the money you borrow from Webull. The annual interest rate for amounts up to $25,000 is 6.99%. Interest rates gradually fall as the borrowed amount increases, reaching a minimum rate of 3.99% for amounts over $3 million. Interest is charged daily. Interest is applied daily, but only charged monthly; usually, the charge is made in the middle of the month on an annual basis.

Funds Transfer

The best way to deposit or withdraw money from your Webull account is through an Automated Clearing House (ACH) transaction. ACH transfers are free, both for deposits and withdrawals. If you want to use a domestic wire transfer instead, you will be charged $8 per deposit and $25 per withdrawal. If you use a non-U.S. bank or otherwise need to transfer money via international wire, and you will be charged $12.5 per deposit and $45 per withdrawal.

Securities Transfer

Webull won't charge a fee for any securities you transfer into your Webull account via APEX Clearing House. Outgoing transfers will be charged $75 per transaction. If you want to complete the transfer through a contra broker, contact the broker to determine whether or not you will face a fee.

Ready to Start Trading?

So now that you know the ins and outs of trading with Webull, what are you waiting for? With top-notch tools packaged into apps that fit with any lifestyle, there's no easier — or cheaper — way to put your money to work for you than by opening a Webull trading account. Just pick the type of account that works best for you, submit your application, then put your trading skills to work.

As with any investment decisions, it's best to consider how Webull could fit into your overall investment strategy before placing any trades. It's important to consider the risks, including the possible loss of principal, and consult your financial adviser.

source: https://www.webull.com/blog/28-Free-Stock-Trading-App-Online-Webull

Commission-Free Stock Trading - App & Online - Webull