Highlights of Futures Trading at Webull
• Webull now provides futures trading.
• Unlike securities, Webull charges commissions on futures trades.
• Futures can currently be traded on Webull’s mobile app or desktop platform.
Webull Futures Introduction
Webull has added futures trading to its growing list of services. There are various contracts available, and beginners will find educational materials to help them learn the basics.
Opening a Futures Account
To trade futures at Webull, you must first open a separate futures account. Futures cannot be held or traded in a securities account. The first step is to open that futures account.
To do this, log into the website and go to the My Account page (click on the icon in the upper-right corner). Move down to the bottom of the screen to find the link to apply for a futures account. If you already have a securities account, much of the information will be pre-filled. You'll need to scroll through several futures documents and electronically sign them. It took us about 10 minutes to submit all the required paperwork, and our account was approved in about 30 minutes.
A futures account has its own unique account number at Webull, different from the number assigned to any securities account under the same login credentials.
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Learning about Futures
Beginners should spend some time getting familiar with futures contracts before trading. Webull offers some educational resources on derivatives. To find these, go to the website, hover over the Hub tab in the top menu, and click on the Learn link in the drop-down window.
On the next page, scroll down to the section from CME Group. Here, you'll find a variety of materials on the basics of futures contracts. These materials are actually links to the CME website, where articles and videos are hosted. Some examples include:
- Intro into Futures
- Futures versus ETFs
- Understanding Futures Spreads
Finding Contracts
Finding a contract to trade is easy with Webull’s user-friendly mobile app. Log into the app and tap on
the Markets icon in the bottom menu. On the Markets screen, find the Futures icon in the Discover section at the top.
On the Futures page, Webull has arranged contracts into the following sections:
- Micro Futures
- Equity Index Futures
- FX Futures
- Metals Futures
- Energy Futures
- Interest Rates Futures
- Agricultural Futures
- Crypto Futures
Tiles of individual contracts appear in the collections. Simply tap on a tile to bring up the contract’s profile.
If you already know the ticker symbol for the futures contract, you can key it in the search box at the top. The forward slash (/) is not necessary on the mobile app, although it can help eliminate equity results in the drop-down list of choices.
However you access a contract’s profile, Webull presents various data points, including margin requirements, time & sales numbers, the day’s high and low prices, a chart, chains for options on the futures contract, and news articles. At the bottom is a blue Trade button.
Placing a Trade
You can place a trade for a contract through the mobile app or desktop platform. The desktop platform must be version 8.0 or higher, as earlier versions do not support futures trading.
After hitting the blue Trade button on either platform, the ticket will offer four trade types: limit, market, stop, and stop limit. A bracket can be attached to a futures order, and be sure to check the estimated cost of the trade at the bottom of the ticket before submitting the order.
On the mobile app, three vertical dots next to the trade button lead to the order ticket for a simulated trade, which is good for practice.
Webull Futures Trading Fees and Minimums
There is no minimum deposit requirement at Webull to open a futures account. However, once the account is open, it needs to be funded before any trades can be made. Webull requires a $1,000 deposit to enable trading on a futures account.
Futures trades are not commission-free. Here are the prices:
| Standard | $1.25/contract |
| Mini | $0.70/contract |
| Micro | $0.25/contract |
| Crypto | $1.50/contract |
Clearing, exchange, and regulatory fees are passed onto the customer.
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Webull Futures Trading Judgment
Webull offers a very competitive futures trading capabilities that even beginner traders can use.
Updated on 8/14/2024.
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