Webull is one of the best-known commission-free TradFi apps. It launched in 2017 and quickly gained millions of users. Today, more than 24 million people use Webull around the world.
The app started with stocks and options. Later, it added cryptocurrency trading. But the rollout was rocky. In 2023, Webull pushed crypto into a separate app called Webull Pay. Two years later, it reversed course and pulled crypto back into the main app.
In this Webull review, I’ll break down Webull’s main features, pros and cons, and the current state of its crypto offering. We’ll also cover how to buy crypto on Webull, whether you can paper trade digital assets, and if Webull has a crypto wallet.
Let’s get started!
What is Webull?
Webull is a digital brokerage built for mobile users. It first launched in the U.S. in 2018 and has since expanded to markets like Brazil, Hong Kong, and Europe.
The app is simple, but also powerful. On mobile, you get clean charts, watchlists, and quick trade execution. On desktop, you can set up multi-chart views for a more advanced setup.
Here’s what you can trade on Webull:
- Stocks and ETFs – all commission-free.
- Options – also commission-free, with $0 contract fees.
- Cryptocurrencies – more than 50 coins, traded 24/7.
- Futures and margin – for advanced traders.
- Fractional shares – buy a slice of expensive stocks.
- IRAs and recurring investments – for long-term goals.
What’s missing? Webull doesn’t offer mutual funds or bonds yet. That makes it more of a trading platform than a full-service broker.
Can you trade crypto on Webull?
Yes, you can. Webull supports over 50 different cryptocurrencies, and you can trade them right inside the same app you use for stocks and options. Trading is open 24/7, so you’re not limited by stock market hours.
Some of the most popular coins on Webull include:
- Bitcoin (BTC)
- Ethereum (ETH)
- Dogecoin (DOGE)
- Solana (SOL)
- Litecoin (LTC)
- Cardano (ADA)
Webull keeps adding new tokens, but the list is still smaller than what you’d find on big crypto exchanges like Coinbase or Binance. That said, Webull covers the major names that most casual investors and traders would want.
Right now, crypto trading on Webull is only available in certain regions. U.S. and Brazil users can access it today. Webull has said it plans to bring crypto trading to more countries, but the timeline isn’t clear yet. If you live outside these areas, you may not see the crypto tab in your app.
One of Webull’s big selling points is convenience. You can manage stocks, ETFs, options, and crypto all in one place. That makes it easier to track your whole portfolio without switching between apps. It also appeals to new investors who don’t want to deal with the hassle of learning a separate crypto exchange.
Of course, Webull isn’t perfect. You don’t get as many coin choices as you would on a dedicated exchange. But for anyone who wants quick access to crypto trading alongside their stock trades, Webull is a simple, low-barrier option.
How to buy crypto on Webull
Buying crypto on Webull is pretty easy and quick. You don’t need a separate account or app anymore. Everything happens inside the main Webull platform.
Here’s how to do it step by step:
- Open an account. Download the Webull app or use the desktop site. Sign up and go through the ID check.
- Add funds. Link your bank account and move money into Webull. Deposits are free, but it can take a couple of days to clear.
- Go to the Crypto tab. On the app’s homepage, tap the section for crypto trading.
- Choose a coin. Search for Bitcoin, Ethereum, or whatever supported coin you want.
- Enter the amount. You can start with as little as $1 (or $2 in some states).
- Review your order. Webull shows you the quote, which includes its 1% spread fee.
- Confirm the trade. Once you hit confirm, the crypto appears in your account instantly.
Selling works the same way. You pick the coin, choose how much to sell, and confirm. Webull then credits your account with the cash value.
This process makes crypto buying as simple as buying a stock. For beginners, it’s a smooth way to get started without learning a separate crypto exchange.
But I should note: you’re paying a spread on every trade, and you can’t send the coins to an outside wallet.
What are Webull’s main features?
Webull is packed with tools for both new and active traders. It’s built to be simple, but it also has enough features to grow with you as you gain experience.
Here are the highlights:
- Commission-free trades – You pay no fees on stocks, ETFs, or options. Options also have $0 contract fees, which makes Webull cheaper than many big brokers.
- Fractional shares – You don’t need to buy a full share of expensive stocks like Tesla or Apple. You can start with just a few dollars.
- Paper trading – Webull has a simulator that lets you practice with fake money. It uses live market prices, so you can test your skills without risk.
- Crypto trading – You can trade over 50 coins directly in the app, side by side with stocks. Trading runs 24/7.
- Advanced charts and tools – Webull offers charts with dozens of indicators, drawing tools, and alerts. Beginners can keep things simple, while active traders can go deeper.
- Extended hours – Stock traders can buy and sell before the market opens and after it closes. This is useful for reacting to earnings or breaking news.
- Community features – Inside the app, traders post ideas, news, and watchlists. It feels like a social feed where you can see what others are talking about.
- IRAs and recurring investments – You can open retirement accounts or set up auto-investing to build long-term wealth.
Overall, Webull’s feature set covers most needs in one place. Apart from missing mutual funds and bonds, it offers a lot in one app.
Can you paper trade crypto on Webull?
In short, no. Webull does not let you paper trade cryptocurrencies. The paper trading feature only works for stocks and options.
That means you can’t practice buying or selling Bitcoin or Ethereum with fake money inside the app. If you open a paper trading account, you’ll get a virtual balance, but it’s only for stock market trades.
Why? For a while, crypto was split into a separate app called Webull Pay. That made it harder to include in the simulator. Even now that crypto is back in the main app, Webull hasn’t added paper trading for it yet.
If you want to practice, you have two options:
- Use the stock and options simulator to learn order types and trading basics.
- Try real crypto trades with very small amounts. Since Webull lets you buy with as little as $1, you can treat small trades like practice without risking much money.
For now, if paper trading crypto is important to you, you’ll need a different platform. For example, Cryptomania’s demo trading simulator lets you practice trading crypto without having to use real assets.
Does Webull have a crypto wallet?
No, Webull does not have a true crypto wallet. When you buy coins on Webull, they stay inside the platform. You can’t transfer them out to your own wallet, and you don’t control the private keys.
Instead, Webull uses a partner to hold crypto for customers. At first, this was Apex Crypto, but today it’s Bakkt. Your coins sit in custody with them, not in a wallet you manage yourself.
This setup makes it easier for beginners to trade. You don’t have to worry about wallet addresses, blockchain fees, or sending coins to the wrong place. You just buy and sell inside the app. But it also has limits:
- You can’t send crypto to another exchange.
- You can’t use your coins in DeFi or staking.
- If you want to move your holdings, you have to sell them for cash first.
Webull does provide security features like two-factor authentication (2FA) and encryption. Brokerage accounts on Webull are also protected by SIPC insurance for stocks and cash.
But crypto itself is not insured. If Webull or its custodian ever had issues, your crypto would not be covered the same way your stock holdings are.
For casual investors, this setup may be fine. But if you want to hold your own Bitcoin or send tokens to another wallet, Webull won’t give you that option. In that case, a wallet app or a dedicated crypto exchange such as Binance would be a better fit.
Webull pros and cons
Every trading platform has strengths and weaknesses. Webull is no different. Here’s a quick breakdown.
Webull pros
- Zero commissions – Stocks, ETFs, and options are all commission-free. Options also have $0 contract fees.
- Crypto + stocks in one app – Trade over 50 coins side by side with equities. No need for separate apps.
- User-friendly design – Both the mobile and desktop platforms are clean and modern.
- Fractional shares and low minimums – Start with as little as $1 for crypto or a few dollars for stocks.
- Paper trading – Practice with fake money using real-time data. Great for beginners testing strategies.
- Advanced tools – Charts with indicators, extended hours trading, alerts, and multi-chart layouts on desktop.
- Community feed – Traders can share ideas, watchlists, and market opinions inside the app.
- Regulated brokerage – Webull is overseen by FINRA and the SEC, with SIPC protection for securities.
Webull cons
- No crypto wallet – You can’t transfer coins off Webull. Everything stays on the platform.
- Spread fees on crypto – Webull charges about a 1% spread per trade. This makes buying and selling more costly than on many crypto exchanges.
- Limited investment types – No mutual funds and only basic bond access. Not a full-service broker.
- Research tools are basic – Charts are strong, but in-depth analysis, third-party reports, and advanced screeners are missing.
- Customer support is weak – Help mainly comes through email or app tickets. No reliable 24/7 live support.
- Crypto availability is limited – Only U.S. and Brazil users currently have access.
Bottom line
Webull is strong on cost and convenience. It’s great for beginners and active traders who want stocks and crypto in one place. But serious crypto users or investors looking for a full-service broker won’t find it in Webull.
How does Webull compare to other platforms?
Webull competes with both stock brokerages and crypto exchanges. Here’s how it’s doing.
Webull VS Robinhood
- Similar strengths: Both apps offer commission-free trading for stocks, ETFs, and crypto.
- Webull has more coins: Webull supports over 50 cryptocurrencies, while Robinhood offers far fewer.
- Robinhood lets you withdraw crypto: With Robinhood, you can send your crypto to a wallet. Webull still doesn’t allow that.
Webull VS Coinbase (and other crypto exchanges)
- Coinbase has hundreds of coins and wallets you control.
- Webull is simpler: You trade crypto, stocks, and options all in one app. There’s no need for switching.
- Fewer crypto tools: Coinbase offers staking and wallet features; Webull offers more basic functionality.
Webull VS traditional brokers (like Fidelity, Schwab)
- Traditional brokers often let you buy mutual funds, bonds, and offer deep research. But most don’t offer crypto trading.
- Webull bridges that gap: It gives you crypto plus stock trading in a single platform.
Big advantage: As of August 2025, Webull fully re-opened crypto trading for U.S. users. You can now buy and sell over 50 digital assets directly inside the Webull app. A separate Webull Pay app is not needed anymore.
Verdict: Is Webull right for you?
Webull has grown into a major player in online trading. It combines commission-free stock and options trades with easy access to crypto, all inside one app.
For beginners, the low costs, clean design, and paper trading tools make it an inviting place to start.
For more active traders, Webull offers advanced charts, alerts, and even futures.
Also, it’s one of the few brokerages where you can manage both stocks and crypto.
Still, Webull has limits. You can’t move coins to your own wallet. Research tools are basic, and some products like mutual funds are missing. The 1% spread fees are high compared to most crypto exchanges.
Bottom line: After this Webull review, I’d say the platform is best if you want stocks and crypto in one place. It strikes a strong balance between simplicity and range.
But if you want deeper research, more assets, or true crypto control, I’d recommend choosing another platform.
FAQ
Where did Webull crypto go?
In 2023, Webull moved crypto trading to a separate app called Webull Pay. Users didn’t like switching apps, so in August 2025, crypto returned to the main Webull platform. Today, U.S. and Brazil users can trade over 50 coins directly inside Webull.
Can Webull be trusted?
Yes. Webull is regulated by the SEC and FINRA, with SIPC protection for stocks and cash. Crypto is held by Bakkt, though it’s not insured. The app uses two-factor authentication and encryption, making it a safe and legitimate platform for most investors.
What is the downside of Webull?
Webull’s biggest drawback is crypto. You can’t transfer coins out, and trades carry about a 1% spread fee. The platform also lacks mutual funds and deep research tools. Customer service can be slow, which may frustrate advanced investors.
Is Webull good for beginners?
Yes. Webull is simple to use, offers commission-free trades, and lets you start with just a few dollars. The paper trading tool is great for practice. The only drawback is that its education section is thin, so beginners may need outside resources.
How much money do you need to start on Webull?
Almost nothing. You can buy crypto with just $1 (or $2 in some states) and stocks in fractional amounts. There’s no account minimum, so Webull is accessible for new investors on a tight budget.
How to trade crypto on Webull?
Go to the Crypto tab in the app. Pick a coin, enter how much you want to buy or sell, review the quote (with the 1% spread included), and confirm. Trades settle instantly, and you can start with just a few dollars.
