webull review. David Jaffee with BestStockStrategy.com and in this video we are
going to discuss Webull and why in my opinion it is garbage.
So Webull is an online stock brokerage and it has amazing marketing it has
enlisted some of the most popular online influencers in order to entice people to
sign up and additionally it provides these online influencers with
substantial payment in order to entice their followers to sign up for their
online brokerage so what's the problem in my opinion the problem is that
virtually every single follower and every single person who opens up an
account with Webull is going to end up losing money and the reason for this is
that it encourages people to buy options and it encourages people to day trade
there is no ability to sell options using margin on the Webull platform
right now and as a result a lot of the people that are signing up for Webull
are going to be gambling and trying to hit home runs and as a result they're
gonna end up losing all their money now I don't want you to lose all your money
I don't want you to be a losing trader as a result I highly recommend that you
sign up for a brokerage that I consider to be legitimate something like II trade
tasty works Schwab fidelity thinkorswim all of these in my opinion are much
better online stock brokerages than we bolt as I said earlier in my opinion
wiebel encourages their users to buy options and to day trade and to hit home
runs because they make it much more difficult to engage in high probability
trading like selling option premium one of the discouraging facts is that
you have some big-time influencers encouraging their followers to enroll
and sign up with Weibo people like Graham Stephan now Graham
Stephan is oftentimes viewed on this platform as a financial expert however
how can you possibly trust Graham Stephan when he's encouraging his followers and
monetizing his followers to sign up for Webull when in my opinion were virtually
every single person who enrolls in Weibo is going to end up losing money in my
opinion this strikes a big blow at Graham Stephan's credibility because he
is trying to monetize his audience without fully understanding that the
product offering of Webull is going to cause those who follow Graham Stephan and
those who enroll in sign up for Webull to lose money now I would love to
monetize my audience to sign up for we will because I could probably make an
extra fifty to one hundred thousand dollars a year however I have
significant ethical concerns with encouraging my followers to enroll in
Webull because in my opinion those people who sign up for Webull are going
to end up losing money instead I encourage people to sign up for tasty
works now Tacey works is not a perfect platform
but because tasty works encourages you to sell option premium and it also
extends margin so that those people with as little as two thousand dollars can
sell option premium it is a vastly superior platform than Webull primarily
because I believe that if you trade my strategy which is selling option premium
and you implement that strategy on tasty works you will be vastly more profitable
and potentially win 100 percent of your trades as opposed to trying to day trade
and buy options on wiebel so anytime you have an influencer
who is encouraging you to sign up for Wii
I definitely encourage you to start questioning the validity and the ethics
of that influencer because in my opinion those people who sign up and enroll in
Webull are going to end up losing money but those influencers who are
encouraging their followers to sign up for Webull in my opinion have very bad
intent and they are not looking out for their audience
because the best way for retail traders to make money consistently in the stock
market is by either selling option premium or by simply holding an SPY ETF
and not doing anything as a result by signing up for Webull you're not only
giving the influencer a substantial incentive to encourage and to continue
encouraging their followers to sign up but you are also going to build bad
habits because you're going to be enticed into day trading and buying
options and I have never seen marketing as aggressive as I've seen with Webull
never they sent me about two to three emails every single day they are trying
to bring me on board as an influencer to monetize my followers and I can tell you
that ethically speaking I would never recommend Webull as it stands right now
on May 31st 2020 perhaps if they are able to integrate selling options on
margin which is something that they are building upon and that they are working
on but right now I would definitely not recommend that anyone uses the Webull
platform because as I said in my opinion I believe that everyone who signs up for
Webull or the vast majority are going to end up losing money
David Jaffee with BestStockStrategy.com if you have any questions leave a
comment below please like this video let me know your thoughts on Weibo I answer
everyone's comments and I appreciate your attention