How to Day Trade On Webull?

Webull was founded back in 2017 and has managed to reach second place among the most popular stock trading platforms. But if you are new to it, you are probably wondering how to day trade on Webull.

How to day trade on Webull? First, you’ll need to create an account and deposit funds into it. Once that’s done, you can start placing trades. To do this, simply go to the ‘Trade’ tab and select the stock you want to buy or sell. Enter the number of shares you want to trade, then click ‘Buy’ or ‘Sell.’

A trader using a phone and a laptop

It’s important to remember that day trading is a risky activity, so make sure you do your research before placing any trades. Also, be sure to set stop-loss orders to limit your losses if the stock price starts to fall.

How to Day Trade On Webull?

Webull is an online brokerage platform popular amongst traders because of its simplicity and the fact that it doesn’t charge fees. It also allows day trading, but in order to do it, you’ll need to set up an account. Once you’ve set it up, you’ll need to fund it with the minimum amount required by the broker. After your account is loaded with a substantial amount, you’ll be able to place trades on the platform.

In order to be successful at day trading on Webull, you’ll need to have a solid understanding of the platform and how to place trades after hours. You’ll also need to be familiar with the market conditions that can affect the prices of stocks and know how to read the charts. Finally, you’ll need to have a solid risk management strategy in place. By following these tips, you’ll be well on your way to becoming a successful day trader and making money on Webull.

How to Open an Account

Opening an account on this online platform is pretty straightforward, and you can manage it either through your desktop browser or through the mobile app. You are not required to lay a deposit for opening an account, and new traders get a paper trading feature to practice trades with virtual funds. Enter your email address, and you will receive a verification code – right after it, you should enter a password that’s between 8 and 20 digits.

A man holding a smartphone

In Order to Start Trading, Open the App

If you haven’t done so already, you should download the app and log in with your credentials (email and password combination) or your phone number. If you qualify, you could receive a free subscription for three months for the Level 2 market data service. After you have logged in, click or tap on the “Unlock Trading” option, and you will be asked to validate your identity with photographs of both sides of your ID.

Define Your Strategy for Day Trading

There is no “one size fits all” strategy for day trading. You should choose one that best suits your character and style of trading. Here are the most popular strategies:

  • Breakouts strategy is most suitable for users who have more patience and those that have a background doing technical analysis. Breakouts usually grab a position as soon as a chart pattern breaches the price chart.
  • Scalping is a fast-paced strategy that concentrates on capitalizing on any smaller price changes and is suitable for those users who like to click the trigger often. Scalpers will mostly hold positions for short periods and then liquidate them as soon as the profit shows. If users notice losses, they also get taken quickly to avoid any further losses.
  • News trading – since pricing activity on the stock trading market usually revolves around news from the financial world, users follow up on them to know how the stock prices will be affected. Any form of news from companies, such as releasing a report of earnings and announcing some important events, can easily affect prices. Macroeconomic reports can also affect the whole market.

Add Funds and Start Day Trading

Once you open an account, you have two options for loading funds. ACH (Automatic Clearing House) transfers are when you link bank savings or a checking account to the account you have on Webull. The other option is wire transfers – both international and domestic. The first deposit will be charged an initial fee of $8, and the following ones will be charged $12.50 if they are under $25,000.

A man in front of a laptop

Desktop Platform vs. Mobile App

You can start trading right away on this platform, and it allows you to do so through your desktop browser, as well as a mobile app. The table below shows the features of both options.

Desktop platformMobile app
Offers a chart with more than 60 technical indicators and 12 charting tools.The chart on the app features more than 60 technical signals and chart patterns.
The quick trade widget allows users to place orders in an instant, close all positions or cancel open orders with a click.It provides a Take Profit/Stop Loss single options order and new options for price alerts and screeners.
Alerts and optimized screeners help users make informed decisions.Added over 20 financial indicators featuring new alert settings for extended hours.
You can easily set up a customizable button for the widget.Users can check earnings in one Infographic, and evaluate, compare and analyze companies.

There Are Benefits to Day Trading on This Platform

If you are interested in day trading on this platform, you should know that, according to FINRA (Financial Industry Regulatory Authority,) users must maintain a $25,000 net value in a margin account. With a Webull margin account, you can trade without paying commissions and scale your positions up to a 4:1 leverage ratio. By placing an order on your mobile device, seeing the execution results, and maintaining the position on your PC, you can also execute cross-platform trades.

Keep in mind that a successful trader should have several skills to pull off profitable day trades. That’s why a user should focus on developing market analysis skills and discipline required to be able to stick to a certain strategy. You should also be able to pull the trigger quickly when you establish and liquidate positions. And above all, you should have a fair amount of a risk appetite.