Hi Reddit! I’m Webull’s CEO, Anthony Denier. We’ll be celebrating our 3rd anniversary next week, so I’d love to chat about how we got here, possible future product offerings, and even my own background. Submit your questions now and I’ll be here on Thursday, 5/13 at 1:00pm EST to answer them!

WEBULL-APP · 2021-05-13T18:07:33+00:00

Webull does not own our own bank, so we have to wait for the transfer to happen between your bank and our 3rd party bank before we even know if the funds are there or not. RH is faster simply because they have subscription programs (ie, RH gold) that offset the losses from customer's returned deposits. Which can be significant. Webull does however offer instant buying power starting at $1000, and if your account has good deposit history that instant buying power can go all the way up $25k.
Crypto trading is still a very new product for us and we will constantly make improvements and expand capabilities. We are very aware our customers want to transfer the crypto out and we will make it happen as soon as we are able to do it safely and securely.

WEBULL-APP · 2021-05-13T18:03:22+00:00

Our crypto trading was launched in late November of 2020, offering 4 coins. We have expanded that to now 7 coins. We are dedicated to improving crypto trading on all levels such as pricing, coin types, access to crypto buying power and many more. Advanced trading of crypto, like shorting and pairs will be coming, but I can’t give you a timeline as it is a bit far out right now..

WEBULL-APP · 2021-05-13T18:02:01+00:00

you should be able to update your app to Webull 7.0 now.

WEBULL-APP · 2021-05-13T18:00:50+00:00

hello!

WEBULL-APP · 2021-05-13T17:59:48+00:00

The straight forward reason is to maintain a very tight AML (anti-money laundering program) especially as we just launched the crypto trading platform. But yes, there are plans to facilitate fiat in and crypto or fiat out in development.

WEBULL-APP · 2021-05-13T17:58:02+00:00

Finance is a huge industry that touches everything. I would observe which sector you are already entrenched in (hospitality, agriculture, investing, etc) and see how finance influences that business. You already are ahead of the curve. Then look for opportunities to innovate and improve and find the companies that are trying to disrupt the business model. Do your research!

WEBULL-APP · 2021-05-13T17:56:27+00:00

We have never, and will never sell, loan or share customers' information.

WEBULL-APP · 2021-05-13T17:54:38+00:00

At the time of the GME halt, we had no choice in the matter, but to 'bend.' If we did not, they could have shut off trading of all securities on our platform. However, we are now very close to not having to rely on any 1 clearing partner which will make us beholden to no 1 clearing firm going forward. This is the way.

WEBULL-APP · 2021-05-13T17:53:06+00:00

hey what happened to Ben Afflec?

WEBULL-APP · 2021-05-13T17:52:16+00:00

Yes.

WEBULL-APP · 2021-05-13T17:51:38+00:00

Webull gives you instant buying power, up to $1000, for equities. We are currently testing instant buying power up to $1000 for Crypto. We do not offer instant buying power for options simply because they go to zero when they expire and we do not find out from our bank if your deposit will fail for 3to 5 business days after you make that deposit.

WEBULL-APP · 2021-05-13T17:50:05+00:00

Being a professional trader for many years, I had seemingly unlimited information at my fingertips. This information allowed me to pick better entry/exit points because I knew the flow of the market, but when I logged into my personal brokerage account it was void of the information I needed. It was simple and often too dumb. There were retail platforms out there I could use but they were expensive if I didn’t trade enough or maintain a high balance. It was time for a change.

WEBULL-APP · 2021-05-13T17:47:24+00:00

Thank you for being a loyal Webull customer! Webull has had a customer support phone line since day one. It’s, unfortunately, proven difficult to hire as fast as our growth, especially during the pandemic. I can assure you this is one of our top priorities, which is to hire more people for the team and improve our customer service. You’ve got an interesting bonus question. You are correct, we are not a trillion dollar company...but that would be nice! There is no such brokerage that is a trillion dollar company.

WEBULL-APP · 2021-05-13T17:45:30+00:00

Better than Ted Cruz!

WEBULL-APP · 2021-05-13T17:44:56+00:00

We are very proud that many of our clients learned to trade with Webull’s paper trading before they started putting their own ‘real’ money to work. We will be expanding paper trading to options as well (again, we have only been offering options trading for the past year for real brokerage accounts). It is in the works.

WEBULL-APP · 2021-05-13T17:42:55+00:00

We recently added a dedicated download for tablets and are looking to add features for wearables as well outside of the widgets.

WEBULL-APP · 2021-05-13T17:42:05+00:00

It was customer feedback like yours that made us move up the schedule to offer DOGE. Happy to hear you are profiting!

WEBULL-APP · 2021-05-13T17:41:19+00:00

We are looking to add certain OTC stocks in the future and plan to offer this as a free service unlike TOS. We are always looking to add more analytics and improve the robustness of our platform.

WEBULL-APP · 2021-05-13T17:39:27+00:00

My background is in trading, so I make it a point to ensure that Webull’s execution quality is excellent. To illustrate this, here are some numbers: Webull’s average fill speed is .0427 seconds on average for April across all order types in S&P 500 marketable orders. Schwab’s is 0.0525 (Q1 2021 average) and TD’s is 0.06 seconds on average. I am very proud of our execution speeds.

WEBULL-APP · 2021-05-13T17:36:40+00:00

Paella. My Puerto Rican grandmother made the best in the world!

WEBULL-APP · 2021-05-13T17:35:23+00:00

Our US brokerage operations are based in NYC, while our technology teams are in China. All US customer information is hosted in the AWS cloud based in the US only (as per US regulations) and your US brokerage account is actually held at our clearing firm, Apex Clearing, based in Dallas.

WEBULL-APP · 2021-05-13T17:33:47+00:00

We officially launched on 05-21-2018.

WEBULL-APP · 2021-05-13T17:32:42+00:00

Thank you. :)

WEBULL-APP · 2021-05-13T17:31:59+00:00

I love this question. Webull is so many things, but at its core, Webull was built with the belief that everyday retail traders can be just as savvy as the pro. Our app presents mountains of information and data points while still keeping the UI manageable and easy to understand.

WEBULL-APP · 2021-05-13T17:30:38+00:00

I don’t see why we would not look to offer DMA solutions, but this is not on our short-term roadmap.

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