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How to Trade Options on Webull

Compare some top options trading platforms, what you need to open an webull brokerage account, the benefits of trading on webull, what are options, what is webull, can you trade options on a webull paper account, what is the best options trading platform.

Learn what it takes to trade options on Webull

Gordon Scott has been an active investor and technical analyst or 20+ years. He is a Chartered Market Technician (CMT).

webull option assignment fee

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Investopedia’s broker reviews judged Webull as the best brokerage for low-cost option trading. That’s no small feat. Webull is among the few that offer commission-free option trading, but among those, it offers the best mix of function, ease of use, and innovative features. Two such innovative features include the ability to buy fractional shares and to use its robo-advisor product.

Webull is among several online brokers that charges exchanges payment for their customers’ order flow , allowing it to make revenues without having to charge customers for option commissions. We've developed this guide to help you get the most out of Webull's free, but sold options trading platform.   

To get started trading options on Webull you need to open and fund an account. The process doesn’t take long, but it helps to have a few key items nearby as you complete the following steps.

Step 1: Open a Webull account. Webull users can open a new account on the website or by downloading the app to their smartphone. The account application also asks for some personal information, some financial information, and responses to several questions about your trading or investing objectives. The approval process does not take very long, and once complete you can log right in.

Step 2: Log in to your Webull account. Logging into Webull requires you to establish a user ID, a password, and the answers to some security questions that will come in handy if you need to reset your password. Once logged in, you can review news feeds based on current events,  stocks in your watch lists, or educational and promotional events Webull presents. 

Step 3: Fund your account. You can choose to deposit money into your account through wire transfer, microdeposits (takes one or two days) or ACH deposit (happens instantly). Webull has no required minimum deposit, but it often offers promotions to entice new users to fund their account. For example, Webull may offer one free share of stock for any new customer who deposits $100 or more. Once the account is funded, you are ready to research stocks and the options available for them so that you can place orders.

Step 4: Research options. The Webull app features a collection of information feeds from other users, watch list pages, and market news and stats. The layout of these feeds and research pages can get a little busy on the app, but the screens viewed through a web browser on a PC are laid out nicely and are easy to peruse. Either way it is easy to collect a lot of information about any given option that is possible to trade on the Webull platform. Once you’ve determined which option you want to add to your portfolio, you simply place the order.

Step 5: Place an order. Once you select a stock from a watchlist or by typing in the ticker symbol, you can select the options tab to view the option chain. This is a table listing all of the option contracts you can trade with on that stock. Once you have identified your desired expiration date and strike price, you can select the strike price to begin the order process. The mobile platform offers what it calls “simple” orders or “group” orders. Simple orders refers to commonly used order types, including market, limit, stop, stop limit, and trailing stop orders. Group orders compound these types into a more sophisticated collection of functions. For simple or group orders on option contracts, you can specify these under the “Order Type” entry field. 

To get any type of group order working for options, you need to do some customization to the Active Trade screen. There you can add a user-defined trading button which will set up an entry order for the option, a stop-loss based on a percentage decline in price, and a take-profit based on a percentage gain in price. Once defined, all three orders can be touched off with a single click of the user-defined button.

Webull accepts customers in the United States, India, Brazil, Turkey, the Philippines, Malaysia, Japan, China, and Korea. Opening an account includes completing an application and providing both personal and financial information. 

Personal Information

If you are a U.S. resident, opening the account will require that you provide your name, address, and a picture of the front and back of your driver’s license. You will also be asked to provide your Social Security number. Non-U.S. residents will be asked for equivalent documentation for their country of legal citizenship.

Financial Information

The section of the Webull application that collects basic financial information asks for the value of liquid assets, the value of current income, and the type of employment you have. Another section of the application asks questions about your investing goals and objectives so that it can determine what types of assets are more likely to be suitable.

No-fee trading in stocks, ETFs, and options is a big reason why Webull is popular. Lower implementation costs make it easier for traders to profit off a trading strategy and Webull’s team understands this.

The platform features an easy account setup and options approval with no fees or minimums.  The account opening process only takes a few minutes and once the transfer is set up, you can receive buying power on the account right away. 

There is also auction-crossing information for all NASDAQ - NYSE and regional listed stocks on NASDAQ Market Center. Fractional shares are available on the platform so there is no price limit to participating in the growth of your favorite shares. 

Options are a derivative instrument that affords a trader the opportunity to take a position on a stock, index, ETF, or futures contract without having to spend the full purchase amount to buy the stock at first. You can decide to purchase the stock at a later point, up until the moment the option expires. Trading options creates leverage, sometimes as much as 10 to 1. That’s why trading options effectively requires that an investor study the definitions, concepts, and strategies behind the types of options traded.

Webull is a multi-asset discount brokerage, specializing in low-guidance trading. Its app can be downloaded onto your smartphone and used to access the world’s major stock exchanges.

Webull has a facility for doing simulated trades, dubbed paper trading, which generates virtual trades and tracks their hypothetical performance. It's a great way to practice trading and to gain competence using the trading platform. Webull also has a paper trading account function for options which is separate from the regular paper trading account. Option trades can be made here so that you can see how the results differ between stocks and options.

The Investopedia reviewers judged the best overall options trading platform of 2023 to be Fidelity . But Webull was judged to be the best platform for low-cost option trading. That’s a coveted position to be in if your firm intends to attract experienced option traders, and Webull naturally does that for a variety of reasons including ease of use, handy charting tools, and its new Smart Advisor offering. 

Trading shares commission-free is the standard nowadays, but commission-free option trading is more rare. That’s why Webull’s free options trading on its well-designed platform stands out. Webull is worth looking into if you’re a trader who understands the market and doesn’t require intensive education and trading support. While other brokers may have impressive tools for researching and trading options, Webull is one of the few mobile-based trading apps that makes option trading more accessible and affordable.

webull option assignment fee

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How to Use Webull

webull option assignment fee

The principal aim of trading and investing is to make a return on capital, but moving away from the price charts and trade execution interface for one moment, and getting the basics right, can actually help your trading bottom line too. Online platforms such as Webull are packed full of useful client support tools. Getting set up right, and making the most out of what is on offer, can help you trade more safely and profitably. The associated efficiency gains also free up time for you to focus on the business end of trading. It’s time to learn how to use Webull.

How to Use Webull

How to Deposit

One neat feature of trading with Webull is that there are no minimum deposit requirements. This means you can start trading in small size and build up trading skills without burning through your cash pile. It also means that if you’re a risk-averse investor and like to double and triple-check when money is involved, you can send a small initial payment to check your new account is working as it should.

Whether you take this approach or go all-in, the procedure is the same. If you’re using the Webull app, then the deposit process starts by tapping on the middle of the five icons at the bottom of the screen. You are then given two options:

  • Make Your First Deposit  – for those who are new to the platform.
  • Transfer  – for those who have already set up their account or are looking to transfer from another broker.

Webull open account

Two more options then follow. These allow you to choose which type of payment process you want to run with.

  • ACH  – Free for most users, but do check the small print.
  • Wire – For wire transfers and US and international customers. Typically associated with admin charges at both the sending and receiving bank.

The next screen asks you to confirm what type of account you are sending from, for example, Savings, Checking or IBO. One thing to note is that certain methods, notably savings accounts, require the name on your Webull account to identically match the name on the savings one.

The final stretch involves ticking boxes to introduce your Webull and bank account to each other. The first part of the set-up process is to choose between the ‘Real-Time Verification’ and ‘Micro-Deposit Verification’. The former is faster and involves you confirming details by logging in to your base bank account to confirm details.

The second takes one to two days to complete as Webull and your base bank account relay messages and tiny payments between each other to check all is in place as it should be. You’ll then be asked to select your bank from a list. If your bank is not already on the list, you can use the search function to link it up.

After some final account verification checks, choose how much money you want to deposit and confirm the payment. One promotion to look out for is the ‘Free Stock Offer’. The exact T&Cs change over time, but it’s not unusual for Webull to give new clients one or two free stocks when they sign up and deposit funds.

How to Withdraw

You might not be too surprised to learn that the process for returning funds to your bank account is very similar to the one used to make deposits. Once more, you can process the payment using the Webull desktop or app and on your account homepage, selecting ‘Transfers’.

To initiate an ACH withdrawal on the Webull app:

  • Go to the homepage of the mobile app and tap the same Webull logo in the bottom middle of your screen. The middle one of the five icons.
  • Click on the ‘Transfers’ tab at the top of the screen.
  • Click ‘Withdraw’.
  • Enter an amount less than or equal to the amount you have available to withdraw and confirm the instruction.

ACH withdrawals usually take 1–2 business days to complete.

Webull financial fee schedule

What Fees Are There?

Part of the attraction of Webull is that it offers cost-effective trading. The broker has attracted more than 11m registered users in the space of a few years and many would be described as price sensitive.

Does Webull Charge Fees?

The answer to this question is yes, and no. Most of the headline commissions associated with some other brokers have been done away with. The high-profile, big ticket items are as below:

Zero commission trading at Webull

  • Stock trading costs – $0
  • ETF trading costs – $0
  • ADR trading costs – $0
  • Option trading contract fees – $0
  • Option trading commissions – $0
  • Option trading assignment or exercise fees – $0
  • Webull does not charge for  trading cryptocurrencies . There is a 100-basis point spread on either side of a crypto trade.

There are also zero annual account charges and no fees relating to account inactivity, transfers and closing.

Some fees do apply and these typically relate directly to a particular type of trading activity – if you want to expand your trading to include short-selling, for example, fees apply. This means if you don’t use the service, you won’t be charged for it and nor will you end up effectively supporting the trading of others by sharing some of the charge.

Webull Fees

Margin fees.

Those using the Margin Account will be able to use leverage on their trades. As the broker is effectively lending those clients money to scale up their trading, there are charges to pay.

Webull margin fees

Stock Loan Fees

Short sellers need to borrow stock from the stock loan market. That involves a (variable) cost being incurred and this is passed onto Webull short sellers using the below formula:

Daily margin interest (short position) = the daily market value of the borrowed stocks when market closes * stock loan rate for that stock/360.

Exchange and Regulator Fees

There’s not much any broker can do about charges levied by exchanges and regulators. These are passed on to clients on a trade-by-trade basis. The more you trade, the more the total cost. Though it should be noted the amounts charged are relatively small and reflect the need for the guardians of the markets to take a small cut to finance their operations.

Webull regulatory fees

Reporting Fees

Electronic reports are free of charge, but if you just can’t do without a hard copy, you can elect to receive one. However, there is a charge.

  • Paper confirm fee – Apex (clearing firm) – $2/Confirm
  • Paper statements fee – Apex (clearing firm) – $5/Statement
  • Paper prospectus fee – Apex (clearing firm) – $2.5/Mail

Banking Fees

Webull’s approach to transparency of reporting is to be commended. It’s a sign that it feels strong in this area. While that does carry over to the area of banking fees, there is a lot of detail in the T&Cs.

Fees (and processing times) vary depending on what payment process method you choose. There is also the chance that third parties stick on a charge, and deposits and withdrawals between the same two accounts often incur different charges. It’s worth checking these over to make sure you don’t fritter money away unnecessarily, but the summary-level breakdown is as below.

  • ACH deposit – US bank account: $0.00
  • ACH withdrawal – US bank account: $0.00
  • Deposit via wire transfer – US bank account: $8 per deposit – Apex (clearing firm)
  • Withdraw via wire transfer – US bank account: $25 per withdrawal – Apex (clearing firm)
  • Deposit via wire transfer (international) – Non-US Bank Account: $12.5 per deposit – Apex (clearing firm)
  • Withdraw via wire transfer (international) – Non-US bank account: $45 per withdrawal – Apex (clearing firm)

Webull Desktop App

For ease of access, it’s possible to log on to your Webull account using the Webtrader platform. This allows you to log on from any device that has internet connectivity. To get the most out of the Webull suite of features, it is recommended to download the Webull app for desktop, which is compatible with Windows, Mac and Linux operating systems.

Webull desktop app

Right from the off, the Webull desktop app demonstrates why it’s so highly thought of in the trading community. The dashboard has a crisp aesthetic and is easy to navigate. A vast number of powerful software indicators are at hand but don’t get in the way. Instead, you can just click through to the indicator, screener, market, order flow monitor, options table or research panel you want to use.

Webull desktop app full

The range of services on offer reflects Webull’s relatively recent entry into the broker sector. The firm launched in 2017 and has used the technological advantage associated with that to offer a range of tools and services to suit all types of traders. Moving around the platform has an intuitive feel, but click through to what you need and it’s possible to find a highly impressive range of options, some of which are unique to the platform.

Webull Mobile App

The Webull mobile app is an ideal way for clients to keep up to date with the markets while on the go. It’s worth noting that the number of features on offer is very impressive. You can dig down into earnings reports, run price comparisons and a whole lot more.

Webull mobile app

The app is one area where Webull takes full advantage of being a newcomer. It has a next-generation feel to it, not only in terms of the number of features available but also its high-speed navigation.

After downloading the app and signing in the first time, you have the option to set your account to automated log-in. This allows you to access the markets with one tap of the screen. The homepage includes a list of the most popular markets and has a good range of crypto and equity assets.

The five icons at the bottom of the screen are the portals to different sections of the site. You can flip to your personal watchlist, browse markets, deposit or catch up with news and messages.

The news monitor includes direct feeds from renowned agencies, including Reuters. If events lead you to a trading idea, you can explore it by accessing the research found on the markets page. There are screeners, IPO calendars, earnings reports and a chance to scale up your risk-return using leverage of x2 or x4.

How to Make a Trade

Both the desktop and mobile Webull apps are state-of-the-art next-generation platforms. There is a market-leading range of trading tools available, all designed to support your trading. When it comes down to actually booking a trade, the process is, in its simplest form, just the same as it’s always been – locate your market, enter the amount you want to trade and click, or tap, ‘buy’. There are, of course, a range of order types you might want to consider. Stop-losses, trailing stops, take-profits and limit orders are all designed to manage risk and apply some finesse to your trade execution.

On the desktop app, the order placing monitor is on the right-hand side of the screen. Default buttons are in place, offering one-click placing of buy, or sell, instructions. Once placed, these orders can be tracked in the ‘Orders’ monitor, which gives details on how much of the order has been ‘filled’, which orders are still ‘working’ and which have been ‘cancelled’.

Webull order monitor

Once filled, the new position is shown in the ‘Positions’ monitor. This is where you’ll be able to track P&L as it moves in line with market price and, if you want, adjust your stop-losses or take-profit instructions.

Webull platform stocks

Source: Webull

Webull day traders papper account

The mobile app has similar functionality, and you end up at the same monitors. But being a smaller screen, there is a need to use the $ trade icon, which is the fourth in the taskbar at the bottom of the screen.

Webull mobile platform trading

Closing out a trade follows a similar process. When the time comes to trade out of a position, then head to the ‘Positions’ monitor and input the amount you want to sell. Once that order is filled, the asset position will return to zero and the cash proceeds will be credited to your account and crystalise any losses or gains you made.

What Markets are Available?

All the major asset groups are available at Webull.

There are in excess of 5,000 different stocks to invest in, which means all the big names are covered. You can also drill down to US and global small-cap names, including firms that are listed on China exchanges. The IPO calendar is a neat tool designed to help clients spot up and coming listings and there is also grey-market trading.

Indices & ETFs

You can gain broad exposure to equity markets around the world if you buy stock indices. Webull offers markets in all the major names, such as Nasdaq, S&P 500 and Dow Jones, but you can also take positions in a range of non-US markets, including FTSE 250 and the Hang Seng index.

Webull’s cryptocurrency offering is quite impressive. All the big-name coins are there, Bitcoin (BTC), Dogecoin (DOGE), Bitcoin Cash (BCH), Ethereum (ETH), Ethereum Classic (ETC), Litecoin (LTC), ZEC (ZEC) and XLM (XLM). In addition, there are a range of alt-coins, including Kusama (KSMUSD), Eos (EOSUSD) and Solana (SOLUSD). All in all, Webull currently offers a total of 19 crypto markets.

Webull provides markets in the major currency pairs. It’s also possible to use leverage to scale up your risk. EURUSD, GBPUSD, USDJPY, USDCAD, USDCHF, AUDUSD, NZDUSD and USDCNH (Chinese Yuan Offshore) are all available to trade.

An exciting feature of Webull’s platform is ‘Options’ trading. Options do come with additional risk warnings but are increasingly popular. At Webull, Options are margin-backed, which means there is a degree of leverage built into them.

Webull options

The Webull platform supports trading in a diverse range of asset groups. There is something for everyone and both beginners and more advanced traders are unlikely to struggle to find their favourite markets. The options trading is a particularly neat add-on.

What Account Types are There?

With four different types of account on offer, there’s very little chance of not finding a good fit.

Webull Cash Account

Non-margin-based trading and trades can only be put on using settled funds. That means if you’ve sold out of a position, you need to wait for funds to clear (usually 24hrs) before being able to invest them in a new position. You can execute up to three trades per day, every five rolling business days.

Cash accounts do offer four options markets, long puts, long calls, covered calls, and cash-secured puts. They also have a zero minimum account balance requirement.

Webull Margin Account

This has similar functionality to the Webull Cash account, but with a $2,000 minimum balance requirement and a range of additional features. Leverage is one possibility with some products able to be traded on x2 or x4 margin.

Those with cash balances in excess of $25,000 are able to make an unlimited amount of day trades. Another add-on is that Margin Accounts support short-selling and offer access to all the Options markets on the platform.

Upgrading your account from Cash to Margin is simply a case of depositing $2,000 or more and accessing the settings page and clicking a few buttons.

IRA Account

Webull offers Traditional, Roth, and Rollover IRAs. Each client is eligible to set up one IRA but must have an individual account before creating an IRA.

The good news is that there are no fees associated with opening or closing IRAs, nor are there annual fees for Webull's Traditional, Roth or Rollover IRAs.

To sign up for an IRA account using your mobile phone, follow these steps:

  • Download the Webull app, sign up, and open a brokerage account.
  • Once your brokerage account has been approved, select ‘Open an IRA’.
  • Choose the type of IRA you would like to open.
  • Read and sign the terms & conditions.

Corporate Account

Webull supports LLC/Entity accounts. The minimum initial balance requirement is $100,000 and there is an application process.

Webull Customer Service

Something that will be particularly appealing to newbies is that the Webull Customer Service team is contactable 24//7. This can be done via phone or email. App users also have the option of using live chat.

Webull FAQs

Webull hosts a well-thought-out FAQ section, which helps clients build up their understanding of the site. Topics covered range from ‘How to trade’ through to more complex tax issues.

This depends on the payment processing agent you choose to use. The exact T&Cs are well laid out on the broker’s site. ACH payments to cash accounts typically take 4–5 business days to process. Margin accounts offer an improvement on that and deposits of $1,000 or less are available instantly. For deposits over $1,000, the first $1,000 will be available instantly and the rest will be available in 4–5 business days.

There are ways to make instant deposits at Webull. Amounts of up to $1,000 paid to Margin accounts should show up instantly.

Webull might be known for its innovative platform and low costs, but the firm has also invested heavily on ensuring its operations are secure. The platform uses the latest technological security protocols and the firm is regulated by the Securities and Exchange Commission (SEC). The SEC is a Tier-1 authority in charge of ensuring US markets are well managed.

The firm also holds licenses with other regulatory bodies and is a member of a range of client compensation schemes. It’s always worth checking the details as, for example, some unregulated products such as cryptocurrencies don’t receive the same amount of regulatory protection.

Not at all. In fact, Webull has attracted more than 11 million registered users thanks to it combining great service with cost-effective access to the markets. The broker’s pricing policies are easy to understand and willingly shared, so it’s easy to run comparisons with other brokers.

Standard banking payment processes can be used, and there are no minimum deposit requirements at Webull. ACH payments can be the fastest and cheapest way to wire funds, but it is worth checking the broker’s T&Cs.

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webull option assignment fee

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How to Trade Options on Webull

Unlike assets like stocks and bonds , options are contracts that grant the right to buy or sell an underlying asset like a stock or bond at a particular price, known as the strike price. Options contracts also have an expiration date, so if the underlying asset does not surpass the strike price before expiration, it’s considered “out of the money” and expires worthless. 

While many people consider options trading a risky business, trading options can actually involve less risk than trading the underlying asset, depending on the particular option strategy used. Options also offer traders considerably more flexibility with respect to potentially profitable strategies than just trading assets like equities alone. 

Options allow you to speculate on market direction, hedge existing asset positions or sell covered options against your asset holdings to generate extra income for your portfolio . While using options has considerable advantages to traders familiar with options strategies , they can also involve considerable risk and may not be for everyone.

Step 1: Open a Webull Account

Step 2: log in to the webull app, step 3: select options on the app, step 4: start trading, how to use charts on webull.

  • Webull Promotions 

Benefits of Trading Options in Webull

Webull commissions and fees, is webull a good platform for options, frequently asked questions.

Since options trading involves taking risk, and traders need to know how to use them successfully, industry regulators stipulate that brokers have an approval procedure in place to allow options trading.  In Webull ’s case, the broker asks potential options traders using its platform to complete an options trading application to see if they qualify. 

If you’ve already been approved for options trading at Webull, then its options trading platform makes it very easy to trade options — even for beginners . Keep reading to find out how to trade options on Webull.   

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Webull’s options trading platform on a mobile device. Source: Webull.

You’ll 1st have to open and fund a Webull account to start trading options. This can be done on your desktop computer or mobile device, and Webull doesn’t require a minimum deposit to open an account. 

You can access the broker’s useful paper trading feature to practice trading stocks without depositing funds, although that feature isn’t currently available for practicing options trades, so you will need to find another way to practice. Taking an options trading course can be helpful to novices, for example. 

To open a Webull account, you’ll need to enter your email address to receive a verification code and then enter an 8-20 digit password. After you’ve created and logged into your account, Webull directs you to a page where you’ll find information on the additional insurance coverage for clients, as well as details on investor protection for U.S. accounts provided by the Securities Investor Protection Corp. (SIPC).  

After registering your account, you can then download Webull’s mobile or desktop computer app. You’ll need at least 320 megabytes of disc storage space on your computer for the desktop application. 

You can log in to the Webull app with your email address and password combination. It is also possible to use your phone number if you’ve signed up with a mobile device. You may even qualify to receive a free 3-month subscription to the Webull Level 2 market data service. 

After logging into the trading platform, just press the “Unlock Trading” button on the right side of the page. If you’re based in the U.S., you’ll have to validate your identity before you can fund a trading account. 

To do that, you can upload photographs of both sides of your driver’s license. If you have no driver’s license, you can still open and fund an account with an Individual Tax Identification Number (ITIN), a valid U.S. passport or a Social Security Number (SSN). 

Non-citizen U.S. residents can open and fund an account with an E1, E2  E3, F1, H1B, H3, TN1, O1 or L1 visa. 

To access options trading on the Webull mobile app displayed below, you first navigate to the stocks details page. Then click on the “Options” button on the bottom of the page. You can now select the option you’d like to trade. 

img_6078426808008

Accessing option trading via the Webull mobile app. Source: Webull.

To trade options on the Webull desktop app interface shown below, just select the Stocks icon on the left side column. Then press the tab on the top labeled “Options'' when the page for your chosen stock opens. This will then take you to the options chain of the stock you’ve selected. 

img_607842690ce69

Option trading interface on the Webull desktop app. Source: Webull

Trading options profitably typically requires a good knowledg e of the underlying market, as well as which option strategy and time frame suits your market view best. A list of options strategies supported by Webull can be found on their website.  

An option’s expiration date and the underlying stock’s price determine whether the option expires worthless or “in the money”. If you expect the stock to remain at or near its current level, you can also use an option strategy like a short straddle or strangle that would gain value over time in a stable market. 

The type of strategy you decide to use for trading options depends on whether you’re speculating on a stock’s price, hedging an existing equity position or looking to make extra income on your stock holdings by selling covered call options.  

The charting function on Webull’s trading platform lets you track stocks in real time with the standard indicators used by most technical analysts. 

Options traders tend to make better trading decisions if they have a solid background in stock market analysis, so you might want to check out Webull’s educational resources on the subject before you start trading options. You can also find a wealth of free articles, tutorials and videos on the Internet about technical analysis and how to use price charts and technical indicators when trading.

Webull Promotions 

Webull’s promotions feature a free share of stock valued between $2.50 and $250 for successfully opening a Webull trading account. The free stock share you receive in either promotion is determined by random selection using Webull’s lottery system. 

Companies on the available stock list typically have a capitalization of $2.5 billion and include stocks from the NYSE and the NASDAQ exchanges. 

If you open an unfunded account, then you have a 1 in 100 chance of getting a share of Starbucks (NASDAQ:SBUX), Facebook (NYSE:FB) or Snap (NASDAQ:SNAP).

A deposit of $100 or more gives you a share of stock with a value of $8 to $1,600. This includes a 1 in 50 chance of receiving one share of Procter & Gamble (NYSE:PG), Google/Alphabet (NASDAQ: GOOG) or Kraft Heinz (NYSE: KHC). 

The benefits of trading options in a Webull account include:

  • No commissions
  • No contract fees
  • No assignment or exercise fees
  • Advanced charting and technical indicators
  • Easy-to-use cross platform mobile and desktop apps

No commission is charged on option or stock trades. You also pay no fees for exercising or assigning options. Several minimal transaction fees charged by the Securities and Exchange Commission (SEC) and the Financial Regulatory Authority (FINRA) do apply to stock, option and exchange traded funds (ETFs) trades. 

Webull’s trading platforms and options trading interface are intuitive and can be learned quickly by new traders. In addition, Webull has extensive educational resources for traders new to the business. 

If you’ve never traded options or if you’re a seasoned professional, Webull offers commission free options and stock trading. The broker also offers excellent educational resources for newer traders.

How do options work on Webull?

Options on Webull work in much the same way as with other brokerages. You must first open an account and then be approved for options trading.

How do you get approved for options on Webull?

Approval for options trading at Webull is based on an application you complete that gauges your product knowledge, financial resources, risk tolerance and investment experience.  The approval to trade options in eligible accounts can typically be obtained within a couple of business days if you qualify.

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Webull Fees Explained 2024: Are There Any Costs?

The last ten years of investing will undoubtedly be some for the record books. Besides a few years of remarkable market returns, the equity markets investors have seen some major innovation. 

In fact, investing institutions are referring to the past few years as the years of the retail investor. Retail investor is a very loose piece of terminology but is taken to mean those who are not professional investors or represented by professional investing institutions. 

The relatively recent innovation in equity markets investing platforms has opened investing opportunities for the retail investor. Investing platforms like Robinhood take credit for the rise of retail investors by creating a simple, beginner-friendly investment platform. 

Another platform to join in the rise of the retail investor is Webull. A lot of people are familiar with Webull’s marketing campaign of referring friends to get free stocks. In addition to sweet sign-on bonuses, Webull also helps retail investors invest in their own stocks they like without extreme fees and platform regulation. 

To learn more about all of the offerings of Webull, head to our Webull summary article. While this article will cover some of the advantages of using Webull, the main purpose is to cover all of the fees associated with the Webull platform. 

Webull Fees

webull option assignment fee

According to the official Webull website , there are five main buckets of fees associated with Webull accounts. Each bucket represents unique and different account offerings. While all buckets are commission free, there are still costs associated with trading that will be explored later in this article. The five high-level buckets are listed below. 

Stocks/ETF Trading Fees

Stock options trading fees, margin interest, level ii market data fees, miscellaneous fees, learn more: robinhood retirement 3% match.

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First, it is important to understand where each of these fees are coming from. Webull is very clear that all trades on its platform are commission free. However, there are relevant government fees (SEC and FINRA) that can apply to any transaction. 

The SEC stands for Security and Exchange Committee. This is an independent government agency that is responsible for protecting fair trades in the equity markets. 

FINRA stands for the Financial Industry Regulatory Authority. Unlike the SEC, FINRA is a non-government agency that enforces rules of brokers and broker-dealer firms in the United States. 

While Webull is a commission free trading platform, they do pass along fees from the SEC and FINRA. These fees may apply to all sell transactions on the Webull platform. In other words, there is $0 in fees to buy stocks and ETFs on the Webull platform. 

The Regulatory Transaction fee rate (charged by the SEC) is 0.00051% of all sale orders (with a minimum of $0.01 fee per transaction). That means that for every $1M in sales, your Regulatory Transaction fee would be $5.10. 

The FINRA trading fee rate (charged by FINRA) is charged by a per share basis rather than percent of sale like the SEC. The FINRA trading fee rate is $0.00013 per share (with a minimum of $0.01 fee per transaction and a maximum of $6.49). 

Webull states that it does not profit from any of the above fees as these are all regulatory fees passed to the investor.

Unlike many competitors, Webull does not charge any contract fees for stock options trading. Additionally, Webull maintains its commission free trading for all stock option trades as well. 

As with stock and ETF trades though, Webull passes all regulatory fees to the investor. Stock options trading have additional fees that apply to options trading that do not apply to stock and ETF trading. 

The four external fees charged through Webull for stock options trading are SEC fees, FINRA fees, OCC Regulatory fees, and OCC Clearing fees. It is important to note that these regulatory fees do change. You can stay up-to-date by checking the fees on the official Webull website. 

The Regulatory Transaction fee rate (charged by the SEC) is 0.00051% of all sale orders (with a minimum of $0.01 fee per transaction). That means that for every $1M in sales, your Regulatory Transaction fee would be $5.10. This fee is for sale orders only. 

The FINRA trading fee rate (charged by FINRA) is charged by a per contract basis rather than percent of sale like the SEC. The FINRA trading fee rate is $0.00218 per contract sold (with a minimum of $0.01 fee per transaction). This fee is for sale orders only. 

The third and fourth fees come from the OCC. The OCC stands for the Options Clearing Corp and is the regulator for all options trading in the United States. 

The OCC regulatory fees are a per contract fee charged on all option buy and sell transactions. The fee is currently $0.02915 per contract purchased or sold. 

The OCC clearing fees are also a per contract fee charge on all option buy and sell transactions . The fee is $0.02 per contract purchased or sold. The maximum OCC clearing fee per trade is $55. 

As with any brokerage, borrowing money comes at a cost. Webull only charges margin interest on levered positions that are held overnight . In other words, if you are to open and close a position on margin in one day you don’t have to worry about these additional fees. 

However, if you plan on borrowing money overnight (keeping your levered positions open overnight), you will be subject to margin interest. This amount of interest depends on the dollar amount borrowed. Margin interest is accrued on a daily basis and is paid on a monthly basis. 

The daily interest is a simple formula that you can apply to your investments. Daily margin interest is equal to the borrowed cash * Margin Rate / 360. Webull’s current margin rates are outlined below (but are subject to change at any time). 

To learn more about how margin trading works, check out our free article on Webull margin trading . 

This fourth bucket of fees is fairly straightforward. While level I sales data is free on the Webull platform, there is a $1.99 monthly charge for level II market data . 

To learn more about what is included with Webull level II data, head to the official Webull website. 

The final bucket of fees can be categorized as other miscellaneous fees that an investor may come across on the Webull platform. While most fees are covered in this article, there may be a few that are smaller and less frequent that may not be mentioned in this section. 

Short Selling Fees

A short transaction of any kind includes borrowing shares of a company before selling the shares. Just as there is a fee associated with borrowing money on margin, there is a fee associated with borrowing stocks. 

This loan rate changes with market conditions but is always accrued on a daily basis and charged daily. 

The formula for short selling fees is the market value of the stock when market closes * that stock specific loan rate / 360. 

Index Option Fees

Webull investors have access to trading index options on the Webull platform. Unfortunately, index options carry different fees than individual stock options. 

These fees are determined by the trading exchange and differ by ticker symbol. Because of that, these index option fees all vary. However, it is important to understand that index options carry different fees than stock options. 

Webull Fees: Final Thoughts

Given that Webull  is a commission free trading platform, investors often wonder if there are any other fees they can incur while using the trading platform. Unfortunately, commission fee does not necessarily mean fee free and that is the case for Webull. 

Webull has five main buckets of fees for investors that use the platform. Those five buckets of fees are as follows: stocks/ETF trading fees, stock option trading fees, margin interest, level II market data fees, and miscellaneous fees. 

A lot of the above fees are not fees created by Webull but rather regulatory fees that Webull passes along to the customer. Webull has stated that the platform does not profit from any of the regulatory fees on the company platform. However, other fees like margin interest are fees that Webull has enabled to make a profit. 

Even though there are fees on the trading platform, the regulatory fees are often extremely small. Retail investors typically only see a few cents of charge on their trades because of these fees. To learn more about how these fees can impact your portfolio, check out the official list of fees on the Webull website. 

If Webull sounds like a good investment platform for you, sign up for free today!

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Webull vs TradeStation 2024

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Is Webull better than TradeStation? After testing 18 of the best online brokers , our analysis finds that Webull (84.5%) is better than TradeStation (82.0%). Webull is an excellent choice for beginning and intermediate traders. The user experience is outstanding, and Webull has better charts than its natural competitor, Robinhood. Options contracts are commission-free, but crypto markups and markdowns are on the high side. Experienced investors may eventually miss the features, research, and investment choices available at leading brokers.

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Webull vs TradeStation Comparison

Comparing brokers side by side is no easy task. We spend hundreds of hours each year testing the platforms, mobile apps, trading tools and general ease of use among online brokerages, as well as comparing commissions and fees, to find the best online broker .

Though many U.S. brokers offer basic trading features, such as an app, charting tools, stock research and educational content, the depth of those features can vary widely. Let's compare Webull vs TradeStation.

Is Webull or TradeStation better for beginners?

In stock trading, the more you know, the better you’ll do. Taking advantage of resources like articles, webinars, videos and interactive elements is a great way to shorten the learning curve. In our analysis, we examine the availability of several different types of educational materials.

For 2024, our review finds that TradeStation offers more comprehensive new investor education for beginning investors than Webull. Webull offers investors access to Paper Trading, Education (Stocks), Education (ETFs) and Education (Options), while TradeStation offers investors access to Paper Trading, Videos, Education (Stocks) and Education (Options). Neither have Education (Mutual Funds), Education (Bonds) and Education (Retirement).

What about Webull vs TradeStation pricing?

Webull and TradeStation charge the same amount for regular stock trades, $0.00. Option contracts are pricier at TradeStation, costing $0.60 per contract versus $0.00 per contract at Webull. For futures , TradeStation charges $1.50 per contract and Webull charges (Not offered) per contract. For a deeper dive, see our best brokers for free stock trading or options trading guides

Does Webull or TradeStation offer a wider range of investment options?

Looking at a full range of investment options, including order types and international trading, our research has found that TradeStation offers a more comprehensive offering than Webull. Webull ranks #12 out of 18 brokers for our Investment Options category, while TradeStation ranks #5.

Webull offers investors access to Stock Trading, Fractional Shares, Options Trading and OTC Stocks, while TradeStation offers investors access to Stock Trading, Options Trading, OTC Stocks, Mutual Funds and Futures Trading. Neither have Forex Trading and Advisor Services Looking at Mutual Funds, Webull and TradeStation both provide customers access to 0 no transaction fee (NTF) mutual funds.

Do Webull and TradeStation offer cryptocurrency?

In our analysis of top U.S. brokerages, we research whether each broker offers the ability to trade cash cryptocurrency, such as bitcoin and ethereum. Though crypto has risen steadily in popularity, availability still varies from broker to broker. Our review finds that both Webull and TradeStation offer crypto trading.

Which trading platform is better: Webull or TradeStation?

To compare the day trading platforms of Webull and TradeStation, we focused on trading tools and functionality across both web and desktop-based platforms. Popular day trading platform tools include streaming real-time quotes, stock alerts, trading hotkeys, direct market routing, streaming time and sales, customizable watch lists, backtesting, and fully functional charting packages, among many others. For day trading, TradeStation offers a better experience.

Does Webull or TradeStation offer a better stock trading app?

After testing 25 features across the stock trading apps of Webull and TradeStation, we found Webull to be better overall. The best stock market apps are easy to use, have excellent design, and deliver a fully featured online trading experience. Webull ranks #7 out of 18 brokers, while TradeStation ranks #8.

Webull Trading App Gallery

Webull mobile market overview

TradeStation Trading App Gallery

TradeStation mobile home page

Which broker is better for researching stocks?

For research, TradeStation offers superior market research than Webull. Webull ranks #11 and TradeStation ranks #10.

Over the years, we've found that the best brokers provide rich market commentary, a variety of third-party research reports, and thorough quote screens that are not just easy to navigate, but that also include a comprehensive selection of fundamental data. Robust stock, ETFs, and mutual fund screeners are also must-haves for trade idea generation.

How do Webull and TradeStation compare in terms of minimum deposit required?

Webull requires a minimum deposit of $0.00, while TradeStation requires a minimum deposit of $0.00. From our testing, we found that SoFi is the only broker that requires a minimum deposit.

Which broker offers better margin rates for accounts under $25,000?

Webull charges 9.74% for accounts under $25,000 while TradeStation charges a margin rate of 13.5%. The industry average of the 18 brokers we track is 9%.

Does Webull offer fractional shares? Does TradeStation?

Fractional shares are not offered by either broker. Our research has found that 39% of brokers offer fractional shares investing. Fractional shares allow traders to buy a part of a whole share of stock. For example, if Amazon is trading at $1,000, you could buy half a share for $500.

Can you trade penny stocks with Webull or TradeStation?

Both Webull and TradeStation allow you to trade penny stocks. Webull charges N/A per trade while TradeStation charges $0.00. Penny stocks are companies whose shares trade for under $5 and are listed over the counter (OTC). For brokers that do offer penny stock trades , the average commission is $3.

Does either broker offer banking?

Online banking can be a benefit for investors, and some brokerages do provide banking services to customers. Neither Webull nor TradeStation offers Checking Accounts, Savings Accounts, Debit Cards, Credit Cards and Mortgage Loans. Neither have Mortgage Loans.

Which broker offers stronger customer service?

StockBrokers.com partners with customer experience research group Confero to conduct phone tests from locations across the United States to thoroughly evaluate the quality and speed of brokerage customer service. (Read more about How We Test .) Here are the results of our current testing.

Webull was rated 13th out of 13 brokers, with an overall score of 4.42 out of 10.

TradeStation was rated 7th out of 13 brokers, with an overall score of 7.98 out of 10.

Is Webull good?

Webull is an excellent choice for beginning and intermediate traders. The user experience is outstanding, and Webull has better charts than its natural competitor, Robinhood. Options contracts are commission-free, but crypto markups and markdowns are on the high side. Experienced investors may eventually miss the features, research, and investment choices available at leading brokers.

In the 2024 StockBrokers.com Annual Review, Webull ranked No. 1 for Paper Trading. It placed among Best in Class for Investor Community.

Is TradeStation good?

TradeStation supports casual traders through its web-based platform and active traders through its desktop platform. We like the web-based platform and mobile app, but the flagship desktop platform could use a refresh.

In the 2024 StockBrokers.com Annual Awards, TradeStation placed among Best in Class for Day Trading, Futures Trading, Investment Options, and Penny Stock Trading.

Webull vs TradeStation Winner

Overall winner: Webull

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Australian Stocks and ETFs

The above fees include GST. To comply with GST rounding rules, the final brokerage fee may differ slightly for large trades.

Webull reserves the right to change the fees contained in our fee schedule at our own discretion without prior notice.

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0 contract fees, 0 assignment or exercise fees and no minimum deposit. Note: Relevant regulatory and exchange fees may still apply.

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Get real time Options Price Reporting Authority (“OPRA”) data after opening an Options trading account. Webull is now partnered with Cboe to provide Cboe Global Indices Feed (“CGIF”) data when you sign up for a Webull account.

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Why Trade Options on Webull?

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Access to Smart Trading Tools

Customisable option chain, single leg option quotes and real time charts are available on the webull app. an intuitive interface and multiple research tools make it easy to use for all options traders..

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Become a more confident investor with our educational resources..

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Trade On Your Own

The webull app can help you get started with options trading., start your options trading journey in 3 easy steps.

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IMAGES

  1. How To Read Webull Options Charts

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  2. Fastest Way to Trade Options in Webull (Day Trading Layout)

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  3. How To Read Webull Options Charts

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  4. How to Trade Options in WeBull

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  5. Webull Desired Option Trading Level

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  6. Webull: How to Trade Options (2023 Guide)

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  5. Webull has officially launched in UK

  6. Trading Options on Webull with a small account $5 to $10 #stockmarket #webull #optionstrade

COMMENTS

  1. Webull Financial Fee Schedule

    $500,000.01-1,000,000.00 7.24% $1,000,000.01-3,000,000.00 6.74% >$3,000,000.00 5.74% Short Selling Fees For a short position, you need to borrow shares of a company before you sell them. The cost associated with a short sale is the fee for borrowing the stocks of said company. The stock loan rate changes on a daily basis based on market condition.

  2. Option Expiration, Exercise, Assignment, and the Potential Risks

    Out-of-the-Money Exercise or At-the-money Exercise on Expiration Day: An option that is out-of-the money or at-the-money will not be automatically exercised by the OCC (remember $0.01 threshold). However, you may still exercise these options, but you must instruct us to do so.

  3. Webull fees explained as of February 2024

    Options fees Webull's options fees are low. Webull margin rates are in line with those of most other US brokers. The margin rate is tiered, meaning that the rate depends on the amount of the loan. Webull's margin rates move in a range of 3.99%-6.99%. Leverage is a double-edged sword and can dramatically amplify your profits.

  4. Webull: How to Trade Options (2024 Guide)

    Step 1 - Open and Fund an Account This can be done using a handheld or desktop device. The process is fully online and takes minutes to complete. One particularly attractive feature of Webull is that there is no minimum balance requirement.

  5. Webull Account Fees and Features List

    Options Assignment Fee $0.00 Margin rates. Feature Webull: Margin Rate Under $25,000 9.74% Margin Rate $25,000 to $49,999.99 9.24% ... Webull: Definitions: Option Chains - Basic View info: Yes A basic option chain displaying calls and puts. Option Chains - Strategy ...

  6. How to Trade Options on Webull

    Step 1: Open a Webull account. Webull users can open a new account on the website or by downloading the app to their smartphone. The account application also asks for some personal information,...

  7. Webull: How to Use in 2024 (Step-by-Step Guide)

    You are then given two options: Make Your First Deposit - for those who are new to the platform. Transfer - for those who have already set up their account or are looking to transfer from another broker. Two more options then follow. These allow you to choose which type of payment process you want to run with.

  8. How to Trade Options on Webull

    Step 3: Select Options on the App. To access options trading on the Webull mobile app displayed below, you first navigate to the stocks details page. Then click on the "Options" button on the ...

  9. Webull Fees Explained 2024: Are There Any Costs?

    Claim 1 Free Stock Written by Beau Jordan on May 1, 2022 Category: Webull FTC Disclosure: Some of the links on this site are affiliate links. Read our full disclaimer here. Webull Fees Explained 2024: Are There Any Costs? The last ten years of investing will undoubtedly be some for the record books.

  10. Webull Options Trading

    An option is a contract between a buyer and a seller. It gives the buyers (the owner or holder of the option) the opportunity to buy or sell the underlying asset at a specific strike price prior to or on a specified date. ... No account management fees. Everyone gets smart tools for smart investing. ... Full Extended Hours Trading. Webull ...

  11. Webull Brokerage Review: A Great Mobile Option for Active Traders

    Fees: $0 per trade Account Minimum: $0 Open Account On Webull's Secure Website TIP One of our favorite brokers We love Webull! This brokerage is currently on these "best" lists: Best stock...

  12. Webull Review 2024: Pros & Cons

    Webull 2024 Results. For the StockBrokers.com 2024 Annual Awards, announced on Jan. 23, 2024, all U.S. equity brokers we reviewed were assessed on over 200 different variables across eight areas: Commissions & Fees, Investment Options, Platforms & Tools, Research, Mobile Trading, Education, Ease of Use, and Overall.

  13. SoFi Active Investing vs. Webull: Which Broker Is Right for You?

    For options traders, it's worth noting that SoFi Active Investing does offer option trading with an exercise and assignment fee of $5 while Webull is one of the few brokers that offers commission ...

  14. What Is Options Assignment Fee? What Is Options Exercise Fee?

    In both cases, some brokers will charge fees. Nowadays, however, not all that many brokers still charge assignments and exercise fees. This is part of an overall movement toward low-cost or no-cost discount brokers. One big exception is TradeStation, who charges $14.95 for both options exercise and assignment. Ultimately, you may want to choose ...

  15. Webull vs TradeStation 2024

    Compare Webull and TradeStation to see each broker's fees, features, and ratings side by side and find out if Webull is better than TradeStation. StockBrokers.com. ... Options Assignment Fee $0.00 $5.95 Investment Options Webull: TradeStation: Stock Trading info: Yes Yes ...

  16. What are the trading fees on Webull? Are you commission free?

    Current rates are: $0.000145 per share for each sale of a covered equity security, with a maximum charge of $7.27 per trade; $0.00244 per contract for each sale of an option contract. Learn More> 3. Options Exchange Fee: The Options Regulatory Fee is a fee assessed by exchanges on their members.

  17. US Stocks, ETFs, Options, ADRs Fee Schedule

    The above fees include GST. To comply with GST rounding rules, the final brokerage fee may differ slightly for large trades. Webull reserves the right to change the fees contained in our fee schedule at our own discretion without prior notice. Webull Fee schedule for all investments in US Stocks and ADRs, ETFs, Options. including transaction ...

  18. Does Webull really have no fees for options? : r/Daytrading

    Webull's fee is 6 cents to buy, 8 cents to sell per contract. I haven't had any problems with fills and prices but it'd be worth checking your own results, I haven't really done quick scalps with options except SPY a few times. But SPY is ridiculous. Edit to add: it's actually slightly less than that but rounded to the nearest cent.

  19. US Options Trading

    Pay 0 Contract Fees 0 contract fees, 0 assignment or exercise fees and no minimum deposit. Note: Relevant regulatory and exchange fees may still apply. Learn more Complimentary Real-Time Market Data* Get real time Options Price Reporting Authority ("OPRA") data after opening an Options trading account.

  20. Commission-Free Options Trading

    03/31/2020 If you've been trading stocks and ETFs for a while and feel ready to move onto more advanced strategies, you may look to add options to your trading toolkit. Options give traders the opportunity to buy or sell securities at a predetermined price sometime in the future.

  21. The Shipyard Taps Ad Legend Nigel Carr to Serve as Chief ...

    A $0.55 per contract fee applies for certain options trades. Relevant regulatory and exchange fees may apply. Please refer to our Fee Schedule for more details. No content on the Webull Financial LLC website shall be considered as a recommendation or solicitation for the purchase or sale of securities, options, or other investment products.