Investopedia’s broker reviews judged Webull as the best brokerage for low-cost options trading. That’s no small feat. Webull is among the few that offer commission-free options 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 澳洲幸运5开奖号码历史查询:robo-advisor product.

Webull is among several 澳洲幸运5开奖号码历史查询:online brokers that charge exchange payments for their customers’ 澳洲幸运5开奖号码历史查询:order flow, allowing it to make revenues without having to charge𒆙 customers for option commissions. We've developed this guide to help you get the most out of Webull's free but solid options trading platform.   

How to Trade Options on Webull

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

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 se♐curity 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 (about one business day), or 澳洲幸运5开奖号码历史查询:ACH deposit (under certain conditions, instantly; otherwise three to four business days). Webull has no required minimum deposit, but it often offers 澳洲幸运5开奖号码历史查询:promotions to entice new users to fund their accounts. 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 PCꦡ 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” ord✤ers. Simple orders refer 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 ꦓthe 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.

Compare Some Top Options Trading Platforms

What You Need to 🅷Open a Webull Brokerage Account

Webull accepts customers in the United🎐 States, India, Brazil, Turkey, the Philippines, ꧒Malaysia, 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 ap⛎plication 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.

The Benefits of Trading on Webull

No-fee trading in stocks, ETFs, and options is a big reason why Webull is popular. Lower implementation costs make it easier for tr💞aders to profit from a trading strate😼gy and Webull’s team understands this.

The platform features an easy account setup and options for 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 澳洲幸运5开奖号码历史查询:buying power on the account right away. 

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

The Bottom Line

Webull stands out as a good choice for low-cost options trading, offering commission-free tr🍸ades along with features like fractional shares and a robo-advisor. The🦂 platform is designed for ease of use, with a straightforward account setup process and tools to support efficient trading.

Many other brokers do provide advanced research and trading tools, but Webull's mobile-focused approach and affordability make it a practical choice for traders who are comfortable with the market.