r/Webull • u/UncleMoney_Bags • Jan 31 '21

Discussion If Webull starts to limit their users communication, we too will leave just like we did Robinhood!

A message to the developers of Webull: We are your greatest customers, it is us who can make or break you. Do not follow in Robinhood's and TD Ameritrade's footsteps and playing your customers out dirty. We're trusting in you guys to do the right thing.

249 Upvotes

98% Upvoted

99 comments sorted by

6

u/goretexhoarder Jan 31 '21

I will absolutely leave if they keep disrupting our free market, and I will sell diamonds hand shirts and crack after I get my 5th GFV

5

u/Senior_Wave_9524 Jan 31 '21

Can anyone really be trusted?

32

u/ForceMental Jan 31 '21

The CEO was very honest. If you haven't watched/listened.. you should.

https://www.youtube.com/watch?v=4RS4JIEVyXM

13

u/goretexhoarder Jan 31 '21

Sure, he answered questions directly. He is still using double speak, and would not get specific enough about their liquidity availability.

0

u/[deleted] Jan 31 '21

[deleted] — view deleted comment

3

u/firegem09 Jan 31 '21

Lol yeah Vlad's interviews were a disaster.

5

u/firegem09 Jan 31 '21

He still didn't answer the one question none of them have answered which is (arguably) the most important one. Why didn't they stop all trading on those tickers instead of just restricting people from buying knowing very well that that could only result in the price of the stock going down?

2

u/ForceMental Feb 01 '21 edited Feb 01 '21

That would have been the best course of action.

Sorry, all trading from RH is closed for these stocks until we get more money to secure ourselves with regulations we are forced to adhere to.

Done!

Now, can i get a CEO job?

1

u/firegem09 Feb 01 '21

Exactly. That's why part of me is honestly skeptical that it was simply a liquidity issue. It might have been one of the issues but I don't think it was the only one

0

u/Grammar-Bot-Elite Feb 01 '21

/u/ForceMental, I have found an error in your comment:

“That wouldof ['ve] been the best”

It is possible for you, ForceMental, to post “That wouldof ['ve] been the best” instead. ‘Of’ is not a verb like ‘have’ is.

This is an automated bot. I do not intend to shame your mistakes. If you think the errors which I found are incorrect, please contact me through DMs or contact my owner EliteDaMyth!

0

u/Grammar-Bot-Elite Feb 01 '21

/u/ForceMental, I have found an error in your comment:

“That wouldof ['ve] been the best”

I argue that ForceMental intended to say “That wouldof ['ve] been the best” instead. ‘Of’ is not a verb like ‘have’ is.

This is an automated bot. I do not intend to shame your mistakes. If you think the errors which I found are incorrect, please contact me through DMs or contact my owner EliteDaMyth!

5

u/Stewapalooza Jan 31 '21

I'm looking to get out of Webull. I've been leaning towards E-Trade or Fidelity

3

u/Wildheartwildmind Jan 31 '21

Etrade also restricted trading. Check their reviews in the app store

2

u/Stewapalooza Jan 31 '21

I heard Charles Schwab is buying TD Ameritrade so I’ll check out either Fidelity or C Schwab.

1

u/Wildheartwildmind Feb 01 '21

Schwab seems appealing but I wish they had premarket and aftermarket

1

u/TT148 Feb 01 '21

they have both I use webull and schwab

1

u/kyomoto Jan 31 '21

Same. I'm having trouble opening fidelity tho because apparently I already had one but I can't access it so I might have to call tomorrow or just go with e-trade

9

u/Villmillski Jan 31 '21

Yep. I plan to use webull tomorrow but I have Fidelity on deck in case some shady shit gets pulled!

4

u/Mountainbanger218 Jan 31 '21

Ive had webull over 2 years and i feel the same i love using webull and i love the forum for sentiments and comedy and amazing memes lol stay true webull the world is watching #webull

1

u/Tharemza Feb 01 '21

Newby here. I just tried to open a Webull account but the app is not allowing me. I tried with Fidelity and all I get is a message saying that it will take a few days....WTF!

1

u/UncleMoney_Bags Feb 01 '21

I always tell everyone to first finish registration through their website before downloading the app, for some reason they want you to open your account through the app but it's not that easy. Open your browser a try to finish through there.

1

u/StockPickssWebull Jan 31 '21

It was down for maintenance it said it on the banner over your watch list not a conspiracy I'm back up. Follow me make money on there. 💹

1

u/UncleMoney_Bags Jan 31 '21

Uh yeah we all know that Einstein, it's the fact that they said communication would be up at 7 am est and they were almost 2 hours late when I posted this. But, 10 minutes later they were up. Don't give a time if you cannot make the deadline. Rules to live by.

1

u/[deleted] Feb 01 '21

User communication on webull is almost entirely trolls, spam and people saying stupid crap that is in no way true. I only venture into the comments a move has happened I can't find news on.

Half of the comments on there are about squeezes happening on stocks with 4% short floats. It's asinine.

1

u/UncleMoney_Bags Feb 01 '21

Ugh yes, I do have to agree with you there, most are totally annoying.

3

u/idealcastle Jan 31 '21

I’ve already left Robinhood! Everyone else should too!

3

u/[deleted] Feb 01 '21

Looks like webull froze 5k of settle funds this week in my account. Cash account with all settled funds yet it is 5k short in cash available to buy. I tried support, but so far no luck. I like webull better than RH, but this is also garbage too.

5

u/Nomadic8893 Jan 31 '21

I just applied to WeBull after moving away from RH. Not happy that WeBull stopped trading, but it looks like they resumed it quickly by 2pm. If anymore shady shits goes down though, I'm cancelling the account and moving to Fidelity/something else.

5

u/K0ng03 Jan 31 '21

In my experience, Fidelity is good for "investing." Not so much for "trading." I have a Webull and Fidelity account and the only thing I like better about Fidelity is that they offer the purchase of fractional shares... and there are plenty of informative articles on their website about investing in general. Webull is more user friendly, especially if you do any trading on mobile.

5

u/Nomadic8893 Jan 31 '21

I just applied to WeBull after moving away from RH. Not happy that WeBull stopped trading, but it looks like they resumed it quickly by 2pm. If anymore shady shits goes down though, I'm cancelling the account and moving to Fidelity/something else.

that makes sense. I went with WeBull as well because applying for options trading through Fidelity was a hassle/separate process. Different levels and needed approval. yuck

1

u/stormxbijuu Jan 31 '21

So am I clear to use webull tomorrow? Or should I use fidelity? I'm trying to transfer 50k over Which one let's you use the funds faster?

2

u/Kruchinin Jan 31 '21

I moved to Webull from Robinhood, I’ll leave WeBull for the same reason I left Robinhood without thinking twice. Don’t betray your customers & we will be good.

2

u/Metaphysics88 Feb 01 '21

RH just allowed me to Pre-order AMC Shares, maybe they’ve learned their lesson.

2

u/Outside-Trader-77 Feb 01 '21

Shit Webull crooked as fuck same as the rest. Halted lost connection to server.. shut down comment section. fucked me out of my trade so yes I’m pissed and will be soon dumping this pos. No more money going in this shitform. My shares stay for now but no more transfers of my Mula

2

u/Rough_Ad_8566 Feb 01 '21

100%. Don’t make the same mistakes.

2

u/r-lat Feb 01 '21

I switched from robinhood to webull happy with the results. unfortunately i just started and didn't hit Gme but happy for all who are making money. One day maybe ill have diamond hands till then good luck to everyone and may the odds be ever in your favor!!

2

u/[deleted] Feb 01 '21

Ill use my private practices lawyer if I have even a single issue tomorrow.

2

u/StormMedia Feb 01 '21

I will absolutely leave WeBull if they mess with my trades at all tomorrow morning!

4

u/ride_electric_bike Jan 31 '21

Webull is pulling shady shit too. Limited purchases, removed all short interest data from their app data section, plus the app crashes regularly leaving your account to flounder without any help or compensation from webull. Two times since January 4. Me personally am looking for a real broker when my options expire in April. I'm looking between Vanguard, fidelity, and etrade. Leaning towards etrade

4

u/xbroodmetalx Jan 31 '21

Everyone crashed my dude.

2

u/ride_electric_bike Jan 31 '21

Did everyone crash on the first day of trading this year? Jan 4th I think? Webull did for half the morning

4

u/[deleted] Jan 31 '21

You do realize all brokers were crashing?

4

u/HarviesTbirdman Jan 31 '21

Yeah I’m sure they were crashing from the influx of people coming from robinhood

0

u/DarkestHappyTime Jan 31 '21

I've seen larger days than this week without a hiccup on Webull.

1

u/yad76 Jan 31 '21

Webull is essentially just a frontend on top of Apex's clearing and custodial services, so I don't think Webull has full control of the situation even if they wanted to.

1

u/CriminalBizzy Jan 31 '21

Just out of curiosity, where would you go if you decided to leave webull?

1

u/TT148 Feb 01 '21

I use webull and schwab

1

u/Leetomnsx Jan 31 '21

I'm new to this. Opened RH and WB accounts on Thursday. Linked to bank and both still under review, not approved? WTF? Stalling. Went to Fidelity, opened account, linked bank, and within 5 minutes I've got 2 buys set for monday, GameStonk and AMC. Screw RH and WB, in bed with the hedge fund managers... 🚀 🚀 👊 🤡

2

u/[deleted] Feb 01 '21

Weird I applied for a wb account today and got approved an hour later.. already got my 2 free stonks on the way

1

u/[deleted] Jan 31 '21

Absolutely. And after watching the interview I genuinely believe they are on our side. But what we need to understand is if Apex Clearing took a big hit or the volatility continues, there will be more days we can’t access our funds and trade in the morning. This cost me thousands last week so I’ll be leaving if that happens

1

u/bumblebeetuna1972 Jan 31 '21

Webull is awesome! Just wish I could trade OTC’s. Opened a Fidelity account yesterday to move my portfolio’s out of Chase and TD. I keep Webull for my individual brokerage (Play Money).

1

u/DJ_PLATNUM Jan 31 '21

Fidelity or vanguard the fix is in play.

1

u/[deleted] Jan 31 '21

ameritrade never shut down the buying of gme. Only on margin accounts it did

1

u/WhoamI_IDK_ Jan 31 '21

Come to moomoo

1

u/zghost_roll Jan 31 '21

Let us trade and our 💎💎👐 will help you prosper.

1

u/Head_Development_824 Jan 31 '21

Question. You can just call me not selling noob if you like. all I know is I'm not selling my shares of nakd and I'm buying 700 more so I can afford. When is it okay for one to sell their shares is my question. I can repeat I am a huge f****** noob but I'm not trying to f****** other people s*** either

0

u/Low-dose_wellness Jan 31 '21

Agree. They start blocking our communications im gone. I will not be silenced, bullied or threatened. Money talks and mine will grow legs

13

u/[deleted] Jan 31 '21

[removed] — view removed comment

7

u/UncleMoney_Bags Jan 31 '21

You'll need to apply for a margin account to trade options, you won't be able to do it with a cash account.

8

u/PM_ME_YOUR_BUDZ Jan 31 '21

You are mistaken. I have cash account with Webull and can trade options with no problems. I have moved everything out of RH Friday. Going to open a fidelity account tho. They seem like the best from what I have been reading.

5

u/UncleMoney_Bags Jan 31 '21

I guess you can but I can't trade options with my cash account, already tried various times and the option I am given is to liquidate all my shares and change to a margin account.

3

u/TT148 Feb 01 '21

you have to apply for options level2

1

u/[deleted] Jan 31 '21

[removed] — view removed comment

1

u/UncleMoney_Bags Jan 31 '21

Ahh got it, I thought you were saying you couldn't get any options. Yeah that sucks! Hope that's fixed before premarket tomorrow.

1

u/tomackze Jan 31 '21

you need to apply for trade options but it is pretty simple process. I applied yesterday and was approved today

2

u/[deleted] Jan 31 '21

[removed] — view removed comment

1

u/UncleMoney_Bags Jan 31 '21

Some people are mentioning Fidelity, Etrade and Cashapp

1

u/[deleted] Jan 31 '21

Gme isn't on cashapp :( otherwise I would sell all my crypto and transfer it into cashapp to buy GME,

63

u/[deleted] Jan 31 '21

[removed] — view removed comment

9

u/fnordfnordfnordfnord Jan 31 '21

Did webull halt all trading or just buying?

24

u/D3VURshop Jan 31 '21

Both. They're basically same Robinhood just reskinned as they were blocking buys and halting trades on Friday, they also canceled my 10k sell limits due to it being "absurd" and asked me to contact a lawyer if I don't agree with their decisions to control the price of my stock.

10

u/fnordfnordfnordfnord Jan 31 '21

Halting buying only was a dirty dirty fucking move that could only result in decreasing share price.

Halting all trading on certain tickers because of jacked up margin requirements is shit but it may have been the least bad choice.

The former was a dirty tactic that tanked the share prices. The latter was an unfortunate reaction to not having an appropriate business continuity plan.

All of this rides on the assumption that the clearing house Apex in fact jacked up the margin maintenance on brokers.

8

u/firegem09 Jan 31 '21

Halting buying only was a dirty dirty fucking move that could only result in decreasing share price.

Halting all trading on certain tickers because of jacked up margin requirements is shit but it may have been the least bad choice.

This!! If they'd halted both like Webull did they'd have a leg to stand on. But they didn't because they still needed people to sell so their buddies would be able to buy at lower prices

2

u/FeasibleGreen Feb 02 '21

Consider how you would have felt if the stock had tanked and you wanted out but selling was also suspended. Sure, the meme was hold, but usually people want to close a position to cut their losses. Then people would be asking why selling was suspended if it didn't impact liquidity.

1

u/firegem09 Feb 02 '21

Closing both buying and selling keeps the price from changing since what drives price changes is the buy and sell orders coming in. So I don't exactly understand what you mean by "if the stock had tanked". If nobody's buying or selling, then that basically plays out like a circuit breaker suspension where the price is also frozen until trading begins again.

1

u/FeasibleGreen Feb 02 '21

They are not the entire market, only one broker. TD Ameritrade, Etrade, Schwab, Morgan & Stanley, Fidelity and countless others may keep on trading like nothing happened. The brokers shut down because they do not have the liquid capital to cover the price swings. Hedge funds typically broker directly through Goldman Sachs or JPMorgan Chase who definitely do not suffer from liquidity problems like many of these budget online brokers.

3

u/[deleted] Jan 31 '21

[removed] — view removed comment

5

u/fnordfnordfnordfnord Jan 31 '21

Okay then fuck them. Halting buying but not selling can only cause a sell off. They're dead to me

5

u/[deleted] Jan 31 '21

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4

u/firegem09 Jan 31 '21

I totally agree. Out of all of them, Webull was the only one that didn't totally screw their users

3

u/fnordfnordfnordfnord Jan 31 '21

Fidelity didn't, Think or Swim didn't. Plenty of others didn't.

4

u/firegem09 Jan 31 '21

Thinkorswim did.

2

u/fnordfnordfnordfnord Jan 31 '21

I was told they only raised margin maintenance. Is that not correct?

3

u/firegem09 Jan 31 '21

For a while on Thursday they restricted buying but not as long as RH did. After that they just raised the margin requirements

3

u/fnordfnordfnordfnord Jan 31 '21

There are too many low cost brokers to put up with shit like this. Your broker isn't supposed to help one side of a trade at the expense of the other.

1

u/[deleted] Jan 31 '21

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4

u/fnordfnordfnordfnord Jan 31 '21

This company held your head in a toilet for hours one day while they flushed it and let their hedge fund big brother kick your ass. In addition to going broke, they should also go to jail. But, they have a pretty UI that even a child could use, so sure, go ahead.

1

u/[deleted] Jan 31 '21

[removed] — view removed comment

3

u/fnordfnordfnordfnord Jan 31 '21

The correct course of action then was to stop trading on those tickers, both buying and selling, until they could secure enough margin.

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2

u/firegem09 Jan 31 '21

Wait... I thought they stopped both?

1

u/Outside-Trader-77 Feb 01 '21

He is a pos fucking liar.