If you’re looking to dive into the world of trading, learning how to use Webull is a great place to start. Webull is a feature-rich platform that offers commission-free trading, advanced charting tools, and real-time market data, all wrapped in an intuitive interface. Whether you’re a beginner eager to understand the basics or a more experienced trader customizing your setup, this guide walks you through everything you need to know—from setting up your dashboard to placing stock and options trades confidently.
Customizing Your Webull Dashboard
The Webull desktop version offers flexibility with widgets that can be arranged to suit your preferences. For example, you can create a dedicated board for stock trading and another for options trading. Each widget serves a purpose: from viewing your account balance to checking open positions.
On the account tab, you’ll find:
- Your current balance
- Tax documents for the next tax season
- Withdraw and deposit buttons (clearly marked under the banking tab)
The desktop version even includes helpful graphs that enhance your user experience.
Getting Started With Trading: Stocks
Let’s dive into buying and selling stocks using Webull. To demonstrate, I’ll use paper trading, but the steps are almost identical in your real account.
Step 1: Access the Trading Tab
- Select the stock (e.g., Apple)
- Go to the Trade widget
- Click Buy (it turns green)
- Enter the quantity (e.g., 10 shares)
- Choose the order type (Limit or Market)
If you choose a limit order, you’ll set the exact price you’re willing to pay (e.g., $139.26). The shares will only be purchased if the price drops to that level. If the order type is Good for the Day (GFD), and the price isn’t met, the order gets canceled at the end of the day.
Alternatively, a market order fills immediately at the current price. For long-term investing, I often use market orders because a few cents difference won’t matter much in the long run.
Viewing Positions
Once your order is filled, you’ll see it under the Positions tab, including:
- Quantity
- Market value
- Average price
- Total cost
- Unrealized P/L (Profit or Loss)
It’s also critical to keep the Positions and Orders widgets visible to monitor your open and past trades.
Selling Stocks
To sell, click Sell (turns red). You can place a Market or Limit order.
- A Limit Sell allows you to set your target price (e.g., $145) and wait for the market to reach it.
- You can also choose Good Till Canceled (GTC) to keep the order active indefinitely or just for the day.
Click Place Order to complete the sale. I sold a stock and made $3.30, shown in the Day’s P&L section.
Extra Tip: Placing Orders From the Chart
You can also right-click on the chart to place a new order. A pop-up window appears where you can complete your trade without switching widgets.
Note: Paper trading doesn’t support stop-loss or take-profit orders. These features are available only in real accounts.
Intro to Trading Options on Webull
Unfortunately, options trading is not available on paper accounts, which is frustrating since it’s a more advanced form of trading that requires practice.
What Are Options?
There are two types:
- Call Option: The right (but not obligation) to buy at a specific strike price before expiration. It gains value as the stock price increases.
- Put Option: The right (but not obligation) to sell at a specific strike price before expiration. It gains value as the stock price decreases.
Placing a Put Option on Webull
Let’s walk through placing a Put Option using Twitter stock.
Step 1: Add Twitter to Your Watchlist
Search and add Twitter to your options board. Then:
- Choose an expiration date (e.g., January 20, 2023)
- View the available strike prices (expand the list if needed)
Let’s say Twitter is at $50.58. You choose a put option with a $50 strike price, expecting the stock to fall.
Step 2: Choose Price & Place Order
You’ll see:
- Bid price: e.g., $2.91
- Ask price: e.g., $3.10
Buying an option at $2.95 will cost $295 (as options contracts control 100 shares). If Twitter drops to $40, you could theoretically buy 100 shares at $40 and sell them for $50—making $1,000 profit.
A pop-up will show:
- Max loss
- Break-even price
- Max profit
After placing the order, you can cancel it anytime from the Orders widget.
Second Example: Executing a Successful Put Trade
I also set another Put Option at a $52.50 strike price with a limit of $3.25. It was filled quickly. I paid $325, and the current value rose to $332.50.
If I wanted, I could sell it for a small profit. To sell:
- Right-click on the position
- Choose Close Order
- Pick limit, market, or stop
What About Call Options?
A Call Option gives you the right to buy at a strike price. For example, if I believed Twitter would rise:
- I’d set a call option at $51
- If Twitter rises to $70, I’d buy 100 shares at $51 and sell at $70, making a $1,900 profit
Most option traders never actually buy the shares—they trade the options contracts themselves. For instance, if I bought an option at $3.15 and it rose to $5 or $6, I could sell it and pocket the difference.
Final Thoughts on Options
Options trading lets you control 100 shares for a fraction of the cost. In my case, I paid $325 to control the equivalent of $5,000 worth of stock.
- For every $1 drop in stock price, I’d gain $100.
- If the stock moves against me, I’ll try to sell the option before expiration to minimize losses.
Trading options isn’t for everyone. But if you understand the strategy, the risk, and the mechanics, it can be a powerful addition to your trading toolkit.
How to Use Webull – Conclusion
Mastering how to use Webull takes a bit of time and exploration, but once you tailor the platform to your needs, it becomes a powerful tool for both casual investors and active traders. From setting up widgets and watchlists to executing advanced options strategies, Webull offers the flexibility to match your trading style. With practice and research, you’ll be well on your way to making informed decisions and getting the most out of your investing experience.
