A step-by-step tutorial on how to open a new Account on Webull for beginners!
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How to create an account on WeBull
If you decide to click the link above as my referral you’re eligible to get this promotion of up to 12 Free Stocks when you open and Fund an account. WeBull is constantly changing promotions , so if you click the link and you see a different promotion, I want to assure you that it’s the latest one they run.
Anyhow, dependless of how you decide to begin your signup process to Webull, Click Sign up on the top right corner to proceed.
Enter your phone number and click send code, this way Webull wants to verify your number and that you are an actual user.
As soon as you complete this step you will be brought to the page where the actual application starts. You have to select your identification types, and proceed with the document you have selected. Click Continue once you are ready to proceed.
In the next step you will need to provide your personal information, such as First and Last Name, Gender, Date of Birth, ID number of the document you just uploaded as well as your Social Security Number. Complete filling this information and click continue, so you can select your employment status, nature of the business you are employed in and fill out the details of your employer.
If this is the first Broker you create an account on, I want to note that this is common information that all brokers require.
On the next step you will be asked to complete your investment information,, this will ask you things such as :
How much investment experience do you have?
How long you plan to invest – Risk Tolerance – as well what is your net worth, and yearly income. Feel free to answer this based on your situation, there are no wrong or right answers here.
Once you finish selecting what applies to you proceed to choose an account type.
Here you will be presented with two options: A Margin Account and a Cash Account.
Now once more this depends on you and how you want to trade, you can activate margin later if you decide to go with cash for example.
But the main difference is that if you pick a margin account you can short stocks as well with a leverage of up to 4x, while on the Cash account you will not have such an option. If you are familiar with Margin accounts select Margin if not select Cash account.
Then you have to pick what you want to be able to trade, obviously Stocks, ETFs which for those unaware are Exchange traded Funds, and I have created a dedicated video about them where you can learn what they are and how to trade them and last Options.
As you scroll down you will be asked what is your Options trading Level, select the one that applies to you, and fill out the information requested regarding your risk tolerance and investment timeframe.
To note here you have the option to apply for cryp[to trading if you wish. Webull supports 4 cryptocurrencies which include Bitcoin and Ethereum through APEX Crypto.
Last, you can participate in the Stock Lending Income Program. The Program provides you with the opportunity to earn extra income on fully-paid stocks held in your account by allowing Webull to borrow certain stocks. While your shares are on loan, you will be paid an income that is accrued daily and credited to your account on a monthly basis.
To move on, provide an e-Signature when you read and agree with the Agreements and Disclosures. We are almost there, just verify your email , add it above and click GET CODE, in about 5 seconds you will receive a number , insert it and click submit!
Congratulations, your application has been submitted for Approval! It may take up to 1-2 business days, but if you create the account within a business day it is quite likely that it will be approved within hours.
Click Complete, and then you will be prompted back to Webull, but this time you will be logged in with your account, on the top right side you can see your name which you can obviously change.
As you can see the application I just submitted is pending approval. However until this gets approved.
If you click settings you can change your nickname and avatar, plus to change login password, link an email or your phone if you have not done so already.
Once your account is approved you can go ahead and deposit funds to it, so you can claim your free shares! To do that click deposit and then you have the option to pick between Real time verification or Micro deposit Verification.
The real time will ask you to connect to your bank through Webull, resulting in an immediate verification, while the micro deposit verification will require from you your bank account and deposit 2 small amounts to it, then you will be asked what was the amount of these transactions, and this will verify the account.
Now that we have completed the process of opening and funding an account it is time to browse around the Webull website and see what it offers, how to buy and sell assets and all the other features that are available.
Heading to the toolbar we will start by clicking the market.
Here we get 3 different markets we can check on, the US stock Market, The Crypto Market and the forex Market. This gives a great overview on what happens to the markets.
Starting with the Stock Market, we can see how the Dow Jones performs, as well as the SPX. Below you have a nice graph which shows the total amount of stock in the market, 7951. That number will change constantly as many companies enter and exit the market. From those trading today 2376 are declining in price, 1220 are stable and 4355 are rising. Overall we can say it is a positive day in the market.
Scrolling down we have three tables, one focuses on the top gainers of the day
Next is the top losers of the day.
Last board shows the most active stocks in the market based on volume, on number one today is AMD, followed by Apple , Meta, former Facebook , Tesla , Amazon and AMD.
What I like about these Tables is that you can get an immediate look at the market, for those familiar with the top gainers and top losers could present an excellent opportunity for some options trading.
And since I have mentioned options trading the next table or board is dedicated to options trading. The oldest and greatest ETF, SPY is leading the way today in volume followed by Triple Qs, SPX and Tesla.
You have more options here such as total position, Volume, Turnover, Position and so on.
Scrolling even further we can see the best performing industries, for the day month or three months. If I pick 3 months we can see that the Oil and Gas industries are performing exceptionally well in these markets, as well as renewable energy, and to be honest with what is going on currently in the world that makes an absolute sense.
Last for those who like to analyze statements, you get a calendar of when the earnings of companies are announced, what dividends have been paid out and if there are any splits coming up.
Next to that table we get the IPO center board which informs us of the upcoming IPOs the offering price and the amount issued of each share.
For Crypto market the table we get it’s much simpler, there are only 58 cryptocurrencies that can be found in it, and no top gainers or losers are mentioned in it at all.
Forex is similar as well, you get all the traded currencies, last price, change and the low and high of the day.
Now we have seen all the market lets head back to the stock market outlook as it offers quite a lot of options and check a stock to see what further info we can get about it if we click on it.
I will click the Fednat Holding Company which today is rising by a lot, 69% atm.
On the right side of the screen we get info such as open price, previous close , high and low of the day , 52 weeks high and low and market cap.
A few characteristics about this stock, its a low market cap stock only 6.73 mil, 52 week low is 9 cents and high is 2.89$.Clicking the 1 year we see a declining in price over the course of the past year.
Below the stock we can get the latest new about the stock, option trading which I will explain in details later how to perform, Financials, Releases, Corporate Actions which include Dividends and Splits or Insider activity, Analysis, which includes EPS and Institutional Holding information and last profile, there you can find info about the industry and keep people of the company.
If we pick another company, let’s say Apple, this information will be much more current and updated, as large cap companies provide more info and they tend to be updated much faster given they have been eyed by many traders.
You can look at the number of articles over the last hour, the options availability, the amount of releases , corporate actions such as dividends, splits, insider activity, analysis. Which to note here do not trust analysis, you are much better doing your own analysis rather than taking the info here. If they were accurate, everyone would be rich today.
Prior we get to the trading platform lets have a quick look on all the assets you can trade with Webull.
First Stocks, Webull currently offers 0 Commission for Stocks, ETFs and Options.
Second Frictional Shares. Many brokers do not allow that, and for many smaller traders buying an entire share of their favorite stock may not be possible. I mean think that Amazon and Google at some point were trading above 1000 per share, prior they did splits. Anyhow we bull allows you to buy and sell fractional shares.
As mentioned prior you can buy and sell cryptocurrencies, currently they offer more than 44 of them.
Last you can open a Webull paper trading account where you can practice tactics or use it to get familiar with the trading platform. We will proceed with opening one today in order to demonstrate how to buy and sell stocks, how to trade options and how to go long or short on stocks.
By clicking trade we will be transferred to the trading platform Webull offers. To note here that you can download the Webull applications as well if you click download. It is available for both Mac, Windows and Linux as well as for iOS and Android. I have downloaded the app on my iphone and I can confirm that it is one of the best I have seen so far in the market.
To download it simply click on the icon and install it. Once you log in for the first time you will get the following pop up, Starter or Seasoned, and since you will be in this for the first time click starter.
Starter Mode will allow you to get familiar better as it will include a lot of tips, and walk you through the platform and what you can do in it.
For this video though I will use the web version of the platform platform, which is almost identical to the one we downloaded.
There is a pop up saying that we have received a complementary 1 month subscription to level 2 advance. I like anything that is complementary, but if you want to know more about it click and read the details. Depending on what type of trading you are planning to do , this may be useful. Anyhow back to the platform.
Also you can change the theme color, so just click the setting button on the bottom left corner and pick the black theme color, again this is up to you.
So now we need to edit our trading interface as it is quite a mess. You can drag and adjust the interface as you see fit.
To save it click the icon on the top right side, give it a name, let’s say Stock 1 and click save.
Starting with the toolbar on the left side, which is the main way to navigate the platform, for both the web version or the desktop, click the hurt, which actually is the watchlist!
Then you can see the assets you follow plus you can add more. To do that click the add symbol, which is on the top right side of the box, then next to it you can click the Star, and since you can have more than one list click and place it to the one you want. Easy right?
If you use the desktop version and you add a symbol in the watchlist in the web version it will appear there as well, and vice versa.
The next icon goes by the name stocks and as you can imagine it will give more info on the stock you pick.
In this chart you can add indicators, draw and compare it.
To add indicators, click the indicators tab and choose the ones you want.
If I switch to another stock the indicators will remain on my chart.
To change the style of your chat click “line style’ and from there pick the ones that best work for you. Last you can compare the stock in your chart with other stocks , sectors or indexes. To remove it click the ticker.
Next to it you have the settings icon, which will allow you to make further changes to your chart.
But this is not all you get on this section. If you head below the tab you have news, Financials like income statement, balance statement and cash flow as well as the important finance ratios. Next is analysis which as I mentioned above take it with a grain of salt, Press releases, corporate actions, options and a Brief.
You will not find that particular tab in the desktop version however you can create it by adding and removing widgets.
The next icon which looks like a planet, is actually an overview of the market. You can fin info about Dow Jones, SPX, the number of stocks that are on rise, stable and those which decline. News about the market are on the right side.
Bellow we have the IPO offerings centers, we can see which shares are on sale today, the price and the listing date. Next table we have the top gainers, top losers, most active, and other useful stats.
On the last row we are provided with information about the best performing industries, and the most popular ETFs. It is a nice screen to get a quick look on the overall market for sure, but when you compare this to the desktop version you can definitely see the difference.
And I say this because on the desktop version the market overview screener looks way cooler, despite having similar information in it. They have a heat map, and industries to pick on the bottom, the top gainers and losers have more space, same for the IPO calendar. Overall it had a better feeling, or at least that is what I get from it. At the end of the day the information on both versions are quite similar.
Moving forward to the next icon which looks like a messenger, but actually is the screener, from there you can search for stocks, based on region, exchange, sector, market cap, financial and technical indicator. I like this screen a lot as I like to search for stocks with specific metrics, and take a deeper look in them. If you are hunting for value stocks this could definitely become the place to go if you trade on Webull.
As you can see that option is missing on the desktop version, however you can recreate it with widgets. Here you go. I have added the widget on the desktop version.
Next is trade, which is customizable , you can add and delete widgets as you may see fit, and we will use this to trade stocks, options and go short on positions.
This is my stocks board, I will create two more one for options and one for shorting. You can do the same for the desktop version. We will get back to this a bit later when we go over trading.
Below that you can find your account. Here you can see your balances. You can find your tax documents here which you will definitely need on the next tax season. The desktop version once more looks way cooler, because they have added some nice graphs to it, so it really does it for me. Either one you pick you can’t really go wrong. This is also the section to withdraw funds when you are on the desktop version, the buttons are quite clear and are under the banking tab.