Can You Trade Forex on Webull?

As the user-friendly experience on Webull attracts more traders, one question continually pops up: Can you trade forex on Webull?

Many novice and experienced traders looking for self-directed investment platforms appreciate the commission-free trading of stocks, exchange-traded funds (ETFs) and options, among other features. However, the question of whether Webull supports forex trading continues to arise.

This article answers that question and provides information to help you trade forex if you decide it fits your investment strategy.

Does Webull Offer Forex Trading?

Forex trading on Webull isn’t available, at least not currently.

As a financial company that aims to provide individual investors with the information, tools and services to participate directly in markets, Webull offers quotes on global foreign exchange rates.

However, a footnote from the company makes it clear that the market data and educational resources are strictly informational. In other words, the company doesn’t provide access to trading forex.

Does Webull support forex? This question lingers, as Webull currency trading is indirectly available through currency exchange-traded funds (ETFs) on the platform.

While Webull doesn’t directly support forex trading, the ETFs track how certain currencies or groups of currencies perform. If you invest in the currency ETFs, you indirectly participate in forex markets and have the potential to profit from currency movements.

For better or worse, the questions regarding Webull forex trading will likely continue to swirl because of two other Webull offerings traders may find beneficial: paper trading in forex and in-depth educational offerings on forex.

Webull’s advanced analytics tools allow traders to simulate forex trading strategies through stocks and ETFs, thereby giving them knowledge of forex market trends. 

The platform’s educational resources include articles, tutorials and videos that can teach you about forex market analysis and risk management, providing the knowledge you need to begin trading in forex.

Webull's Offerings

Webull touts itself as an all-in-one broker platform for investing by beginners and experienced traders.

Through its web, desktop and mobile app interfaces, Webull offers trading in U.S. stocks, ETFs, options and futures. In 2023, the company moved its cryptocurrency trading to the Webull Pay App in partnership with Bakkt, a regulated cryptocurrency exchange.

While Webull offers helpful information about forex trading, the platform doesn’t provide direct market access. The company’s leaders have not indicated whether or when forex trading on Webull might become available.

You can use Webull with no minimum deposit and inactivity fee, enjoying commission-free trades for stocks, ETFs and options. The platform also offers fractional shares of some stocks and ETFs and pays eligible clients interest on the cash balance that isn’t invested.

Webull’s trading platform is generally considered easy to use. It has enough complexity to appeal to intermediate traders, though beginners may encounter a learning curve. 

That said, newer investors shouldn’t be overwhelmed, as Webull features easy-to-interpret candlestick charts, line graphs and bar charts and the ability to customize dashboards.

These and other offerings can give retail investors a strong trading environment for their portfolios' speculative and short-term aspects.

Alternatives to Webull for Forex Trading

Webull can provide access to a wide variety of investment products and services. But if you’re looking to trade in foreign exchange specifically, here are a few forex trading platforms you can try.

FOREX.com

FOREX.com is a retail foreign exchange broker based in New York City, with support operations in Warren, New Jersey. It is a subsidiary of the StoneX Group, a Fortune 500 company with 80 offices across six continents and $6.9 billion in assets.

FOREX.com boasts low trading costs, competitive spreads and provides several trading services, including performance analytics, a tool to automatically implement trading strategies, detailed charts and the WebTrader platform with drawing tools.

The company is licensed by regulators in the U.S., Canada, the U.K., Japan and Australia. FOREX.com is also a National Futures Association (NFA) member and is registered with the Commodity Futures Trade Commission (CFTC) as a futures commission merchant and a retail foreign exchange dealer.

Interactive Brokers

Interactive Brokers is a global online brokerage preferred by professional traders because of its advanced trading platform. The proprietary platform gives traders a suite of features to execute orders, chart, perform analyses and manage their portfolios.

The global brokerage offers trading in forex currencies and a range of investment products, including stocks, bonds, options and futures. Traders can access an array of assets across several exchanges in multiple international markets.

Interactive Brokers is listed on Nasdaq and headquartered in Greenwich, Connecticut. The company has over 2,900 employees in the U.S., Canada, the U.K., China, Hong Kong, Japan, Australia, Ireland, Switzerland, Hungary, India and Singapore.

The company is regulated by the U.S. Securities and Exchange Commission (SEC), the Financial Industry Regulatory Authority (FINRA), the Financial Conduct Authority (FCA), the New York Stock Exchange (NYSE) and many other regulators worldwide.

Webull Has Much to Offer Retail Investors – Just Not Forex Trading

Whether new to investing or a seasoned trader, Webull offers a robust and versatile platform to trade U.S. stocks, ETFs, options and futures.

The platform also offers interest on uninvested cash for certain clients and its educational materials, demo accounts and option to trade in currency ETFs can help you learn about forex markets.

However, if you’re among the many people asking, “Can you trade forex on Webull?”, the answer is no – at least not now.

Frequently Asked Questions