Beginner’s Guide To Webull – How To Use, Fund And Trade

Webull is a popular online brokerage known for its transparency, low fees, abundant educational resources, and access to popular securities. This guide explains why Webull is made for beginners and how to use, fund and trade on the platform. 

The rise of online brokerages has put investing within easy reach for everyone. All you need is a reliable Internet connection and a bank account, and you can start investing and trading at any time or place. 

However, choosing an online brokerage isn’t just about what securities are available and what trading strategies you can deploy. Instead, online investing is a credible way to build long-term wealth through a financial portfolio. 

The key lies in knowing which securities to select, as well as when and how to trade them. This takes knowledge, which can be built up with sufficient commitment and exposure to the right educational resources. 

And one important point that is often overlooked is the cost. Yes, online brokerages are indeed cheaper than traditional brokerage houses. However, online brokerages don’t all cost the same, and some can be significantly more costly than others. 

Why does this matter? Well, simply because high fees and charges eat away at your investment returns, leaving you with a lower gain. This effect is compounded over time, so it’s important to start your investing journey with the right online brokerage. 

To that end, let’s take a closer look at Webull and why it might be a great fit for beginner investors. 

Table of contents

• Why Webull is ideal for new investors
• How to start trading on Webull
• Other important notes about withdrawals
• Webull, built for beginners 

Why Webull is ideal for new investors

Webull is a multi-asset platform built for investors of all experience levels, which means even beginners and newcomers will find the platform to be highly approachable. Here are some features that new investors will find particularly helpful.

Wide range of securities (US, SG, CH and HK)

Highly traded markets make for good starting points for beginner investors. These markets offer some of the most popular securities in the world, which are less likely to suffer from liquidity risk.

The US stock market is the world’s largest stock market by trading volume, followed by China. The Hong Kong and Singapore stock markets are also popular trading hubs. 

Webull offers access to all of these popular and highly-liquid markets. Beginner investors can find a wide variety of securities to choose from, including stocks, ETFs and mutual funds. Highly recognised blue-chip companies like Meta and Tesla are also available. 

Fractional shares

We all know the worth of investing in stocks of top companies. However, the high prices of such shares may pose a mental barrier to investing. For instance, Apple Inc. costs US$193.60 at the time of writing, which means a mere 100 shares would require nearly US$20,000. 

This may cause some investors to shy away from investing in blue-chip companies, as they fear making such a substantial financial commitment. 

However, you do not have to purchase full units of shares. Webull offers fractional shares investing, which allows you to purchase the shares you want with the budget you have. 

With fractional shares, the minimum quantity is 0.01 share, or as low as US$5, making it easy for anyone to start investing in the vibrant US stock market. Better yet, there are no commissions, platform fees or management fees when trading fractional shares. 

Regular Savings Plan (RSP)

For those who prefer hands-off investing, Webull’s Regular Savings Plan (RSP) is the ideal tool. Just as its name suggests, you can set up an RSP to invest your preferred investment amount at regular intervals.

The practice of making smaller, regular investments over time is known as Dollar-cost Averaging or DCA. You may have heard of this often-touted investing strategy, which is recommended for smoothening short-term market volatility. Over a sufficiently long period, DCA can also lower your average entry price, improving your investing outcomes.

Webull RSP is highly flexible. You can choose from US-listed stocks and ETFs, as well as SGD and USD mutual funds, and start investing from as little as US$5 or SG$10 for SGD mutual funds.

In addition, you can set your own investing schedule, whether it be every trading day, weekly, bi-weekly or monthly. This way, you can maintain control over your investing budget and invest at your own pace. 

Given the rich selection of US- and SG-listed securities, RSP investors can pick and mix to diversify their portfolio and hedge against overexposure to any one sector or region. 

Moneybull 

Moneybull is Webull’s cash management tool that lets you grow your idle cash via automatic investments in low-risk cash funds offering competitive yields. Think of it as a way for you to hold liquid cash on hand for future investing opportunities while reaping higher interest from the money market. 

At the time of writing, Moneybull is offering a yield of 5.4%* p.a. on your USD cash investments. This is an attractive yield without having to jump through multiple hoops to earn a higher interest.

*T&Cs apply. Figures shown are based on 7-Day Yield (P.A.) of the USD Cash Fund in Moneybull as of 13 Oct 2023. Principal is not guaranteed. Returns are not guaranteed and not an indication of future performance. All investments involve risks and are not suitable for every investor. This advertisement has not been reviewed by the Monetary Authority of Singapore.

Do note that Moneybull is not a savings account, and there are still investing risks involved. However, you can expect much lower volatility since your money is invested only in cash funds.

Educational hub

Investing cannot be successful in a vacuum. In fact, investing demands keeping up with important news, trends, and developments happening in the markets while learning and understanding the intricacies of investing and the economy. 

To that end, Webull has created an education hub on its website – Webull Learn – that caters to the needs of beginner investors. 

Here, you’ll find a rich selection of blog posts and videos covering everything you need to know about investing, from discussions on investing strategies, to articles explaining different types of securities, and even detailed explainers on more advanced topics such as technical indicators and options. 

There’s a lot to dig into here, but as everything is available free of charge, you’re free to learn at your own pace. 

Low fees

Webull is designed to offer the best value-for-money experience and primarily achieves this by lowering its fees as much as possible. 

For mutual funds, Webull charges a $0 subscription fee, redemption fee and platform fee*. The only cost to investors is the management fee, which is charged by the fund house.

Meanwhile, for stocks and ETFs, Webull charges a commission ranging between 0.02% to 0.03%, subject to minimum charges of US$0.50, HKD 12 or CNH 12, where relevant. There are no platform fees* charged when trading stocks and ETFs. 

*T&Cs apply. For details, please refer to Webull's Website at https://www.webull.com.sg/. This advertisement has not been reviewed by the Monetary Authority of Singapore.

Platform fees and other charges can add up to significant amounts over the course of your investing journey. With Webull, you don’t have to worry about such extra charges and can enjoy real returns closer to that furnished by the market. 

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How to start trading on Webull

Trading on Webull is simple! Just follow these steps.

Opening an account

1. Download and install the Webull app on your mobile phone. Tap on “Open Account”.
2. Select your residential status and enter your personal information. The most convenient option is to use SingPass to retrieve your details. Otherwise, you may also manually enter your personal particulars on the app. Note that the manual application will require you to upload a copy of your identity document and proof of residential address.
3. Next, enter your contact details and your employment information. Afterwards, answer a few questions regarding your investing background and experience.
4. Indicate your source of wealth and source of funds. Then, select your account type and trading products. You may be asked to complete a Customer Account Review if you select ETFs or Options trading.
5. Once done, acknowledge that you have read, understood and accept all the documents under Agreement and Risk Disclosures.
6. If you didn’t register with Singpass, you’ll be asked to verify your identity at this stage.
7. Input your full name and signature, and you’re done! Your account application will be forwarded for processing, and your account should be approved in 1 to 3 business days. 

Funding your account

Once your Webull account has been approved, you can go ahead and fund your account.

Follow these steps to do so:

1. On the app, tap the Webull logo at the bottom of the screen. Then tap “Transfers” at the top of the screen.
2. Tap “Deposit”. You will be presented with three ways to fund your account – eDDA, FAST or Telegraphic Transfer.
3. Choose your desired method, then follow the on-screen instructions to add your bank account or select a bank account you previously added.
4. Key in your deposit sum, then tap “Submit”.
5. Your deposit will be reviewed, and once processed, the funds will be made available in your trading account. 

Besides depositing funds, you can also exchange currencies on the Webull app. Here are the steps to follow:

1. Tap the Webull logo at the bottom of the screen. Then tap “Transfers” at the top of the screen.
2. Tap “Exchange Currency”. Choose the currency you want to exchange and enter the amount.
3. Read the “Notes” in the lower half of the screen. Once done, tap Exchange Now.
4. Check the amounts and currencies you have selected. If correct, tap “Confirm”. Your currency exchange will be sent for review, and once completed, you will receive the currency in your trading account. 

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Cashing out your gains

Once you’ve made a few successful trades, you may want to withdraw some of your gains as a reward. Here’s how you can make a withdrawal from your account:

1. On the app, tap the Webull logo at the bottom of the screen. Then tap “Transfers” at the top of the screen.
2. Next, tap “Withdraw” and select your withdrawal currency.
3. Add the bank account you want to use to receive your withdrawal. You can add up to five bank accounts to your Webull trading account. If you have previously added your bank account, select the bank account you want to use.
4. Input the withdrawal amount and tap “Submit Withdrawal Request”. Tap “Confirm” after checking that all is in order.
5. Your request will be processed, and your funds will be deposited into the account you specified.

Other important notes about withdrawals 

• Withdrawals can only be made to individual bank accounts. Payment service providers or e-wallets are not supported currently.
• Your withdrawal will take between 1 to 5 business days to complete. Settlement times may vary between different banks.
• Note that you will need to bear any bank service charges or fees associated with your withdrawal.
• Telegraphic Transfers (TTs) are subject to minimum withdrawal amounts of US$ 50, SG$ 50 and HK$ 300.

Webull, built for beginners 

With a combination of popular securities, undemanding investing methods like fractional shares, rich and deep educational resources, and an intuitive, easy-to-use mobile app, Webull offers an easygoing and rewarding experience for those new to investing.

Best of all, Webull’s low fees and waiver of charges mean inexperienced investors don’t have to worry about extra charges or hidden fees that eat away at their investment returns. 

For newbies, you can also get up to 25 free shares by subscribing at least US$500* and maintaining it for 30 days. Plus, get up to US$3,000* cash vouchers when you subscribe US$2,000+ to Moneybull and fulfill the requirements.

Moreover, Webull also launched its latest Transfer-In Promo. You can earn up to US$2,200 worth of free rewards* by transferring over US$25,000 worth of shares to Webull.

*T&Cs apply. Principal is not guaranteed. Returns are not guaranteed and not an indication of future performance. All investments involve risks and are not suitable for every investor. This advertisement has not been reviewed by the Monetary Authority of Singapore.

Get started with Webull and elevate your trading experience today!