Webull.com Unapproved

Webull.com, launched in 2017 and backed by Chinese investors with US operations in New York, positions itself as a commission-free platform for stocks, ETFs, options, and crypto trading. It boasts a sleek app with real-time charts, extended hours, and paper trading, serving millions with no minimums and SIPC protection up to $500,000. Regulated by FINRA and SEC, it claims robust security. Yet, as someone digging through broker filings, the shine fades fast—sarcasm intended, because a $3 million FINRA fine for sloppy options approvals isn’t exactly the “empowering” vibe they sell.

Red Flags and Regulatory Scrutiny

Webull’s troubles stem from oversight lapses. In March 2023, FINRA fined it $3 million for an automated system that greenlit 9,000 options accounts without checking experience or risk tolerance from 2019-2022, exposing novices to volatile trades. A September 2025 $1.6 million settlement followed for failing to supervise social media influencers and exaggerated claims, per GRC Report. Elder fraud hit hard: a 2023 $100,000 FINRA arbitration award stemmed from $460,000 drained from an 80-year-old’s IRA via hacks, with Webull ignoring red flags like sudden liquidations. BrokerChooser’s 2025 review flags it as “average” safety but warns of high leverage risks and withdrawal delays. Scam Detector scores it 60.8/100, citing phishing vulnerabilities.

User Complaints and Media Spotlights

Adverse feedback paints a picture of frustration. Trustpilot’s 1.5/5 from 317 reviews in 2024-2025 details account freezes post-deposits, like a September 15 case closing an account before a bonus, blocking transfers (Ticket #12345). Withdrawals lag with “too many requests” errors delaying closures, causing losses (August 27). TradingView’s lowest-rated reviews (1-2 stars) highlight desktop crypto access blocks despite mobile functionality, execution errors with $0.20 price gaps, and non-filling stop-losses (e.g., June 2025 review on “too many requests” costing trades). Forums like MoneySavingExpert (2025) question post-merger safety, from IRA transfer denials to 401(k) blocks. A May 2023 YouTube exposé calls out 14% margin rates and hidden yields, while The Times (October 2025) links it to £21,000 thefts via poor monitoring. These aren’t outliers—CFPB logged 59 transfer complaints in 2020, with responses deemed unsatisfactory.

The Censorship Approach: Private Loops and Promo Push

Webull deflects through isolation. No public forums exist; complaints route to email or chat yielding canned “provide docs” replies, as in Trustpilot’s July 2025 outage rants met with silence. It responds to 70% of negatives but privatizes fixes, urging “secure messages” without transparency—like a 2025 freeze getting a vague “under review.” Absent from Reviews.io, issues stack with spam. Social channels hype thinkorswim, dodging #WebullScam tags, and SEO buries fines under merger news. This funnels gripes into dead ends, shielding the app store glow.

Why They Hide It: To Smooth the Schwab Shadow

Post-2023 Schwab merger, Webull’s complaints could sour the $8 trillion giant’s image. Public noise on fines or fraud might spark outflows in 2025’s market. With FINRA as a backstop, vague “compliance” excuses dodge deeper probes, favoring education fluff over accountability. Silence preserves the “legacy” for 11 million users, betting low visibility eases the transition.

Conclusion: Test Small on Webull.com

Webull.com equips trades but fines, fraud lapses, and lockouts risk your portfolio on shaky safeguards. Investors, document transfers and start tiny—migrate if support falters. Regulators like FINRA should mandate faster fixes and elder checks. Trading needs reliability, not reroutes; time for reform.