Webull 529 Plan
Webull does not offer a 529 College Savings Plan to its customers at this time.
Anyone who wants a $0 cost, easy to setup and use 529 account, can take a look at
Charles Schwab.
The broker's 529 plan allows anyone in the country to invest, it does not have an account enrollment and service fees,
and it has no minimums. Schwab’s 529 plan is sponsored by the state of Kansas.
Free Charles Schwab Account
Open Schwab Account
Webull Promotion
Get up to 75 free stocks when you deposit money at Webull!
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Can I Buy All Stocks on Webull?
Webull is a zero-commission broker. This policy applies to all securities offered. There are no
charges for stocks, ADR’s, options, or ETF’s.
Next up we’ll go over what stocks you can currently trade on Webull’s platform. They allow
you to trade over 5,000 U.S. stocks and ETFs listed on the major exchanges (NYSE and NASDAQ), but
that’s it. Stocks trading on the OTC and Pink Sheets are off-limits, as well as mutual funds,
preferred stock, and bonds. We find it hard to believe that Webull will be able to be a competitive
player in the brokerage space in the future without offering a broader scope of investments, so
perhaps they have plans to eventually add more securities.
Portfolio Management or Financial Planning Services
Many brokerage houses today offer some form of financial planning and/or investment advisory service.
Vanguard and WellsTrade are two examples. Moreover, robo advisors are becoming more and more popular
due to their very low cost. Webull launched its own low-price robo-advisory service.
Customer Service
Many customers have complained about the customer service that Webull delivers. First of all, there is no online chat service, either in human or robo form. Second, Webull has no branch locations for old-school customers. In the past, the brokerage firm didn’t even post its phone number online. Thankfully, it is now displayed on the contact section on the broker’s website (888.828.0618). Needless to say, this number is not staffed 24/7.
Lack of Account Types
Webull does not offer 529 plans, self-employed 401(k) plans, UGMA/UTMA accounts, Coverdell Education
Savings Accounts, or annuities. It did launch Individual Retirement Accounts, but as of now there are only Roth, rollover, and traditional varieties. Other brokers, like Vanguard, provide more IRA types. Vanguard also offers 529 plans, UGMA & UTMA accounts, and individual 401(k)’s.
Updated on 7/2/2024.
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