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Is weBull a good investment app for long term investments for beginners?

I am a rising freshman college student that is interested in long term investment. I am looking for a investment tool that has little to no fees, such as inactivity fees. #finance #business #student


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Kalin’s Answer

Hello N.Q.,

There are tons of different platforms for market investment and many of them are pretty new like WeBull, Degiro, Etoro and many others. Before you actually decide what platform you are going to use I think you need to answer a couple of questions for yourself:

1. Are you going to be an investor or Trader?
2. Do you plan to often buy/sell (at least once per month)?
3. Do you plan to hold to your investments in the long run (5-10+ years)?
4. Do you want to start a retirement plan (a.k.a. 401K in US)?
5. Do you prefer safety for the cost of a couple of dollars rather then anxiety for free?

Upon answering the above if you are looking for long-term investments I would definitely advise you to pick up some of the 'old' names in the fields which are official brokerage houses professionals in that are such as 'Etrade*' or 'Interactive Brokers'. Do they have fees - yes they do, but if you plan to hold on to your investments for long time you know that they are in good hands!

Another reason I would have picked one of these is that the 'Stocks' (Or whatever) you buy is actually hold on your personal name in another institution while with platforms like Revolut, Etoro, WeBull and other - you are not owner of the underlying asset but it's more like you are given with it on a 'rent'.

Apart from that - WeBull does not give you a big portfolio of investment options but it's mostly focused on US stocks or ETFs. As an investors we are all looking for diversification of our portfolio and through WeBull you get it only through ETF investments.

I also don't like taxes and can definitely say that in today's world any additional fees are very disturbing but brokers like 'Interactive Brokers' offers a very nice commissions and taxes if you plan to invest mostly in US where I don't think that investing $100 and getting $1 fee is a huge thing?

Before you make a decision - make sure to analyze a couple of different brokerages and learn what are the PROs and CONs of each, you can use the following site: https://brokerchooser.com/broker-reviews/webull-review

Good luck with investment and remember that if you are investor - you are there for the long run!

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Prasenjit’s Answer

Most brokerages offer zero commission trades and no investment minimums. Save as much as you can, put it into low cost index funds, and don't sell. Keep some cash in hand for emergencies so you don't have to sell in a down market. That's all you really need to do.

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Laura’s Answer

Hello,

Webull offers commission-free US stock, ETF, and options trading without inactivity fees. The account opening is seamless, fully digital, and really fast. The platforms are well-structured, user-friendly and offer many order types. Webull's product portfolio is limited, covering only US stocks, ETFs, and options.

I have come across several persons who use it and find it helpful with investing. It all a matter of preference.

Thanks

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