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!
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:
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.
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:
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.
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:
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.
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:
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.
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:
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.
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:
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.
Every trading platform has strengths and weaknesses. Webull is no different. Here’s a quick breakdown.
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.
Webull competes with both stock brokerages and crypto exchanges. Here’s how it’s doing.
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.
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.
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.