When training with crypto, finding an exchange or broker that charges low fees or no fees at all is a crucial part of making a profit. As you know, most exchanges and brokers charge fees each time you trade with crypto on that platform. Webull is one of the most popular brokers, but does it charge fees for crypto?
Webull doesn’t charge classic crypto fees you can see at other brokers, but it charges a spread of 100 basis points. That is equal to 1% of the transaction you will pay when trading on Webull.
This markup is built into the price of the crypto you want to buy or sell. To learn more about trading fees on Webull, keep reading.
Does Webull Charge Fees?
Once you are approved for a Webull account, you will be able to start making some money. You will be happy to hear that Webull doesn’t charge fees. However, you may be charged a commission that is imposed by regulatory bodies like Financial Industry Regulatory Authority (FINRA) and SEC. So if you trade with stocks, ETFs, and options, you will not be charged any fee from Webull, but you will most likely pay fees to SEC, FINRA, and OCC. Webull will not profit from these charges.
Trading Fees on Webull
There are many benefits you can get when trading on Webull. For example, this platform allows the most flexible after-hours trading, doesn’t charge any commission, and allows paper trade for stocks and ETFs. But as we mentioned, even though the platform itself doesn’t charge trading fees, you will be charged a commission that is imposed by regulatory bodies.
Stock and Options Fees
If you decide to trade stocks on Webull and any other platform SEC and FINRA will charge a certain fee. Usually, the minimum fee is $0.01, but this commission can be higher, depending on the trading amount. Also, if you are trading with options, Webull will not charge you a fee, but regulatory bodies might. Here is an example of option fees charged by different regulatory bodies:
- SEC Transaction Fee – $0.0000051 x Total Trade Dollar Amount, with a minimal fee of $0.01.
- FINRA Trading Activity Fee – is $0.002 x Number of Contracts, with a minimal fee of $0.01.
- Options Exchange Regulatory Fee– $0.0388 x Number of Contracts.
- OCC Clearing Fee – $0.02 x Number of Contracts, with a max fee of $55.
Once your crypto buying power is good enough on Webull, you will be able to trade with cryptocurrencies. Unlike other exchanges, Webull doesn’t charge fees when trading crypto, but it will charge a 100 bps markup that will be built into the price of the crypto you are trading. This markup is around 1% of the transaction you make.
Crypto trading on Webull is available 23 hours a day, and there is no minimum equity you must have to trade with crypto.
Also, Webull supports market, limit, and stop-limit orders for crypto trading. Both cash and margin accounts can trade with crypto, and Pattern Day Trader and Good Faith Violations rules do not apply to crypto trading.
Non-Trading Fees on Webull
When trading on any platform, you must think about other fees you may be charged. For example, when depositing money on Webull using an ACH transfer, you will be charged no fee, while if you do this via wire transfer fee will be charged, the same as when withdrawing money.
Also, you may receive a charge if you transfer stocks from or to the Webull account. For example, if you transfer stocks into Webull, Webull will not charge you transfer fees, but that other platform or broker you are transferring from may. Here are all the Webull fees.
|Type of transaction and fees||Fee|
|Inactivity Fees||There are no inactivity fees|
|ACH deposit and withdrawal fee||$0|
|Transferring stocks out of Webull||$75|
|Margin Interest||3.99% to 6.99%|
Is It Good to Trade Crypto on Webull?
If we compare Webull to Binance or Coinbase, we can see that Webull offers many great features when it comes to crypto trading. There are over 30 cryptocurrencies you can trade on Webull, and you will not be charged any fees. Also, there is no limit on how much you can invest – you can put in as little as $10 and buy a fraction of the currency. However, there are some drawbacks when it comes to the Webull platform, as it doesn’t provide a wallet. That means you will not be able to transfer any crypto in or out of the Webull platform.
As you may know, Webull is a broker platform meaning it acts as a middleman between you and the market, so any crypto or fraction of the crypto you purchase on Webull will never be in your possession.
Another drawback is that there are limitations on the number of cryptos you can invest in. However, the most significant and popular cryptos are available.
If we put these things aside, we can honestly say that crypto trading on Webull is excellent, especially for those who are just starting. Also, on Webull, users can trade with other securities, like stocks and options.
Another great advantage of the Webull platform are its excellent learning tools, so new users can get to know the market before investing money. If you are interested in crypto and stock trading, then Webull is an excellent way to start. It doesn’t require a huge investment to open up an account.