Does Webull Have a Demo Account.
Trading in paper trading or demo accounts involves trading with virtual money. It eliminates any real monetary risk the trader would otherwise take in a live funded account. Paper trading makes a lot of sense if you’re unfamiliar with trading, no matter whether you’re trading stocks, forex or in any other market.
Demo accounts can now be opened with many online brokerages, including commission free brokers like Webull. Webull’s paper trading account is funded with virtual money and comes with all of the features and functions of an actual trading account, so you can experience what it’s like to trade through the broker.
Learn how to do paper trading on Webull now.
- Step 1: Open a Webull Account
- Step 2: Log into the Webull App
- Step 3: Select Paper Trading on the App
- Step 4: Menginjak Trading
- How to Use Charts on Webull
- Can You Trade OTC Stocks on Webull?
- What is Paper Trading?
- Webull Promotions
- Benefits of Paper Trading on Webull
- Webull Commissions and Fees
- Is a Webull Account Right for You?
- Frequently Asked Questions
Step 1: Open a Webull Account
The 1st step for paper trading is to open a Webull account, which can be done either through your desktop computer or via your mobile device. You won’t need to fund the account since you’ll be trading with virtual money initially.
To open a Webull account you’ll need to enter an email address to receive a verification code and specify a password of between 8 to 20 digits. After you’ve correctly entered your verification code, you’ll be directed to a page describing Webull’s additional insurance policy for clients and its Securities Penyandang dana Protection Corp. (SIPC) coverage.
After registering an account, you can download Webull’s phone or desktop app. You’ll need at least 320 megabytes of storage space on your desktop computer for the application.
- Intermediate Traders and Investors
Step 2: Log into the Webull App
Just batang kayu into the app with your email and password combination. You can also log in with your phone number if you signed up using your mobile phone. You may also qualify to receive a free 3-month subscription to Webull’s Level 2 market data.
After you’ve accessed the Webull trading platform, you’ll need to press a button on the right side that says “Unlock Trading”. U.S.-based traders need to provide identification to open a trading account. If you don’t submit this identification information, you won’kaki langit be able to unlock the paper trading feature of the application.
Many people who hold a mustakim U.S. driver’s license identify themselves by submitting photographs of the front and back of that ID card.
You can also open an account with a valid U.S. passport; an E1, E2, E3, F1, H1B, H3, TN1, O1 or L1 visa; a Social Security Number (SSN) or an Individual Tax Identification Number (ITIN).
Step 3: Select Paper Trading on the App
You’ll now be able to select a layout for paper trading or paper day trading by pressing on the small icon of a circle with a dollar sign on the menu on the left side of the desktop application. Mobile users can press the same icon on the menu page of the app.
Webull’s paper trading feature on its trading platform. Source: Webull.
Step 4: Start Trading
Now that you’re completely set up with your paper trading account, you can begin to trade stocks on the Webull trading platform with virtual money. Webull provides a very generous amount of $1,000,000 to begin paper trading, so you can berangkat trading virtually in just about any exchange traded U.S. stocks.
Selecting the stocks to trade depends on your own research. If you have a background in a certain industry or have familiarity with how a particular listed company does business, you might want to start trading those stocks.
If you’re completely new to trading stocks, you’ll need to take some tutorials on how the stock market works. Fortunately, Webull provides a learning center that you can access on the trading platform via a book icon on the left side of the tribune’s page.
How to Use Charts on Webull
The Webull trading platform’s charting function lets you view price charts and display the standard technical indicators found on most other trading platforms. If you don’n know how to use charts, you can look over the various educational resources on technical analysis found on Webull, and you can also find a wealth of videos, articles and courses on technical analysis on the Internet.
Can You Trade OTC Stocks on Webull?
Webull does not offer trading in over the counter (OTC) or pink sheet (OTCBB) stocks, although the calo does provide trading in penny stocks (stocks priced under $5 per share) that are listed on the New York Stock Exchange (NYSE) or the Nasdaq Stock Market.
What is Paper Trading?
Paper trading is basically practice trading or trading with virtual money. When you open a paper trading or demo account with a broker like Webull, you’re taking no monetary risk. Paper trading lets you study the market and practice without losing or making any money.
Webull’s promotions include a free share of stock valued at $2.50 to $250 per share for successfully opening a Webull trading account. If you open an account with a minimum of $100 or more, you’ll have the opportunity to receive a share of stock worth between $8 and $1,600.
Which stock you get allocated is completely random and is given out according to Webull’s lottery system. The promotion’s stock inventory is composed of stocks with a minimum market capitalization of $2.5 billion and includes companies listed on the NYSE and the Nasdaq.
According to Webull’s website describing its promotion, you have a 100% chance of receiving 2 shares of stock with a deposit of at least $100. You also have a 1/50 chance of receiving a share of Google (NASDAQ: GOOG), Procter & Gamble (NYSE: PG) or Kraft Heinz (NASDAQ:KHC).
If you just open an unfunded account, you would have a 1/100 chance of receiving a share of Facebook (NYSE: FB), Starbucks (NASDAQ: SBUX) or Snap Inc. (NASDAQ: SNAP).
Benefits of Paper Trading on Webull
One of the benefits of paper trading on Webull is you can test your strategies and trading plan to see how effective they might be when operated in a real market scenario. Paper trading accounts let you trade in real time without incurring any monetary risk.
This could save you considerable money while you learn. It can also give you the confidence to start trading in a funded account if you turn out to be successful at trading.
Webull Commissions and Fees
Webull does not charge commission on stock trades, although you will need to pay several minimal fees associated with trading. These include Securities and Exchange Commission (SEC) transaction fees and regulatory fees from the Financial Industry Regulatory Authority (FINRA) that apply to stock, exchange traded funds (ETF) and option trades.
If you sell stock short, you will need to obtain a loan of the stock you want to sell and pay interest on the shorted stock’s value. This amount depends on the shorted stock’s availability, the prevailing broker loan rate and the interest charged on margin trading.
Is a Webull Account Right for You?
Webull offers commission free trading for stocks listed on the NYSE and Nasdaq, and it’s a good choice for beginners and seasoned traders alike who want to menginjak paper trading. The pialang’s desktop and mobile applications provide educational resources and are intuitive and easily learned by new traders.
If you are looking for a robo-advisor to help you pick your stocks, Webull also fits the bill. Webull supports 24/7 trading in Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH) and Litecoin (LTC).
On the other hand, if you plan on trading OTC or penny stocks not listed on the NYSE or Nasdaq, you may want to look for another broker since Webull does not support trading in those stock types.
Frequently Asked Questions
Questions & Answers
How do you trade stocks on paper?
Trading stocks on paper is almost identical to trading in a funded, live account with the exception that no actual funds are used. You enter your orders in the same way you would in a live account and can keep track of the profit/loss on the trade without taking any monetary risk.
Webull Financial LLC, commonly known as Webull, is a financial services company founded in 2017 with its headquarters in New York City. The company provides commission free trading in stocks, ETFs and options.
Does Webull Have a Demo Account