For those who are interested in trading, the name of Webull may attract the attention. This company has fast growth and it really develops quickly. Now, it becomes quite popular among the traders. It is not just the novices or new traders, but the professionals and experts also have attention in Weebull. With all of its growth and popularity, then there is question; is webull safe? Safety still becomes the main issues in trading. It is because it deals with money, and it can be huge amount of money. Moreover, there are personal data included in the account registration and these can be sensitive issues when the platform or company is actually not safe. Regarding its safety and legality, it will be discussed below.
Before talking about its safety and legal status, it is important to know more about Webull. When some people say that Webull is newcomer, it is not fully true. It started its business in 2017 so it already worked and provided services in trading services for several years. However, its growth and development surely deserves attention since it is considered quickly. Webull focuses on the electronic trading platform and it can become the reason of its fast growth since now people tend to use the software and mobile platform for trading. Moreover, it provides various features and functions to assist the novice traders so it surely attracts them to use the platform.
As for whether it is legit or not, it can be said that the Webull is legit. It is not just claim but it is based on the fact that Webull is under the regulation of FINRA and SEC. These two names are surely enough to guarantee that the platform is fully legit. Moreover, it is also part or member of SIPC. SIPC will be responsible to deal with the deposited money. All deposited funds are fully safe and these are secured from risks of financial issues. It can be said that clients are safe to use the funds up to $500,000 and it is already huge amount of funds, especially when it talks about the focus of clients of Webull who are mostly novices. In addition to those big names, Webull is also partner of Apex Clearing. Apex is well-known as trustworthy clearing firm and it will ensure that all deposited funds are kept in proper and safe place.
Those big names are enough to say that the Webull is legit and safe. However, those are mostly to cover the funds. As for the data of clients, there may still be questions. In fact, Webull already uses the high-level encryption. This will be responsible to make sure that every personal data of clients and users of Webull platform are totally safe. Malware and even external threats can be handled well with its strong encryption. With those kinds of information, it can be concluded that Webull is very safe. It is also not a scam that will endanger your data and funds. Even, the reputable regulators provide protection for every investor registered in Webull. The FCA in United Kingdom can provide coverage up to £85,000. There are also FINRA and SEC that provide the coverage as protection for the investors. That is why it is safe. However, as for the clients or investors from other countries, it is still important to see the available services of Webull in various countries since it will be different case.