Webull believes that technology empowers traders to be more profitable helping to grow our user’s economic freedom. Technology also enables us to provide transparent and straightforward prices with 0 commission trades and no deposit minimums.
We make money the same way every other broker makes money, but with one less revenue line item: commissions. In order to keep the lights on, we optimize the back-end revenue streams that every other broker (traditional or non) utilize to generate revenue. Simply put, these are stock loans, interest on free credit balances, margin interest and payment for order flow. More information on this can be found in our SEC Rule 606 disclosure.
Webull provides up to 4x day-trade buying power and 2x overnight buying power with a margin account. You must have at least $2,000 to qualify.
Interest on margin trading is calculated on a daily basis and paid on a monthly basis. The margin rate is variable and is determined by the size of the margin loan.
The margin rate is set at our discretion and is subject to change without notice.
Debit Balance
Annual Margin Rate
$0~25,000.00
9.49%
$25,000.01~100,000.00
8.99%
$100,000.01~250,000.00
8.49%
$250.000.01~500,000.00
7.99%
$500,000.01~1,000,000.00
6.99%
$1,000,000.01~3,000,000.00
6.49%
>$3,000,000.00
5.49%
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. Just as interest on margin trading, it is calculated on a daily basis and charged daily. The formula is:
Daily Margin Interest (Short Position) = The Daily Market Value of the Borrowed Stocks when Market Closes* Stock Loan Rate for That Stock/360.
Trading Privileges
Charged By
Types
Fees
Rule
Stock/ETF
Securities and Exchange Commission (SEC)
Regulatory Transaction Fee
$0.000008*Total $ Trade Amount (Min $0.01)
Sells Only
Financial Industry Regulatory Authority (FINRA)
Regulatory Fee
$0.000145 * Total Trade Volume Min $0.01 per - Max $7.27 per
Sells Only
Options
Securities and Exchange Commission (SEC)
Regulatory Transaction Fee
$0.000008*Total $ Trade Amount (Min $0.01)
Sells Only
Financial Industry Regulatory Authority (FINRA)
Trading Activity Fee
$0.00244 * No. of Contracts (Min $0.01)
Sells Only
Options Exchanges
Options Regulatory Fee
$0.02905 * No. of Contracts
Buys & Sells
Options Clearing Corp (OCC)
Clearing Fee
$0.02 * No. of Contracts
(Max $55 per Trade)
Buys & Sells
Item
Fee
Low-Priced Securities (for transactions in excess of 100,000 shares priced under $1.00/ share)
$0.0002 per share (maximum 5% charge of principal value)
F-stocks (foreign settlement)
Buys: $5.00 per trade
Sells: $0.05 per trade
ORF Fee
$0.02905 * No. of Contracts
Illiquidity Charge
Additional fees and interest may be charged for trading activity that triggers an NSCC illiquidity charge, as determined by the NSCC.
Minimum Overnight Interest Rate: 15%
Fee: $250
Ticker
Description
Tier Schedule
Exchange Proprietary Fee
Webull Contract Fee
SPX
S&P 500
<$1
$0.57
$0.55
S&P 500
>=$1
$0.66
$0.55
SPXW
S&P 500
<$1
$0.49
$0.55
S&P 500
>=$1
$0.58
$0.55
VIX and VIXW (Simple Order)
CBOE Market Volatility Index
<=$0.10
$0.10
$0.55
CBOE Market Volatility Index
$0.11-$0.99
$0.25
$0.55
CBOE Market Volatility Index
$1-$1.99
$0.40
$0.55
CBOE Market Volatility Index
$2+
$0.45
$0.55
VIX and VIXW (Complex Order)
CBOE Market Volatility Index
<=$0.10
$0.05
$0.55
CBOE Market Volatility Index
$0.11-$0.99
$0.17
$0.55
CBOE Market Volatility Index
$1-$1.99
$0.30
$0.55
CBOE Market Volatility Index
$2+
$0.45
$0.55
XSP
Mini-SPX Index
<10 contracts>=10 contracts
$0.00/$0.04
$0.55
DJX
Dow Jones Industrial Average Index
--
$0.18
$0.55
NDX
NASDAQ-100 Index
--
--
$0.55
NDXP
NASDAQ-100 Index
--
--
$0.55
Action
Region
Fees
Charged By
ACH Deposit
U.S. Bank Account
$0.00
-
ACH Withdrawal
U.S. Bank Account
$0.00
-
Deposit via Wire Transfer
U.S. Bank Account
$8 per Deposit
Apex (Clearing Firm)
Withdraw via Wire Transfer
U.S. Bank Account
$25 per Withdrawal
Apex (Clearing Firm)
Deposit via Wire Transfer(International)
Non-U.S. Bank Account
$12.5 per Deposit
Apex (Clearing Firm)
Withdraw via Wire Transfer(International)
Non-U.S. Bank Account
$45 per Withdrawal
Apex (Clearing Firm)
Transfer direction
Charged By
Fees
Transfer to Webull
Apex (Clearing Firm)
$0.00
Contra Broker
Please contact the contra Broker for details.
Transfer from Webull
Apex (Clearing Firm)
$75 per Outgoing Stock Transfer
Contra Broker
Please contact the contra Broker for details.
Action
Charged By
Fees
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
Note: Per regulatory requirements, we must provide statements and confirms to clients. Normally this is sent electronically to the email address provided by clients in their account opening application. However, if the email address fails to receive the email, we are required to send paper statements, confirms, and prospectus to the mailing address on file. This will incur the above paper material delivery fees, charged by Apex, our clearing firm.
*Fees are subject to change without notice.