As a discount broker Webull has attracted a lot of attention for providing up-to-date market data and free stock trades. I have been using Webull no for some time and wanted to talk today about some of their trading features. Since different types of charts and data are offered at different levels I wondered if there are any good Webull charts that are also free.
Basic Webull charts are free. However, these free charts you have access to on level 1 contain only limited data points and lag in time. To get more accurate charts on Webull you will have to upgrade to level 2 which currently costs $1.99 per month.
In this article, we’ll look in a bit more detail at the charts that Webull provides and the cost associated with these charts. I’ll also talk about Webull’s market data and their different user levels which all provide different chart features at different price levels.
Is Webull good for charts?
In my opinion, Webull offers some of the most well-designed charts of any broker out there. The design is sleek and easy to use and lets you easel capture the most important information at a glance.
Webull offers several different types of charts such as:
- Candlestick Chart: The candlestick chart is probably the most common chart used in stock and FX trading. It shows the opening and closing price of every minute, hour or day – depending on the timeframe – as well as the highs and the lows.
- Line Chart: A line chart displays less information than the candlestick as it only shows the current or average price on a per minute, per hour, or per day basis. Another variant of the line chart is the area chart where the area under the line is filled.
Besides the candlestick pattern – as you can see above – Webull also displays the trading volume at any given time and lets you easily zoom in and out as you move through time.
However, there are some drawbacks to Webulls free charts. At level 1 the basic chart types remain free but simply display less information. Some essential features that are missing in Webull’s charts are:
- Real-Time Data: At their most basic level Webull charts do not display real-time data but instead can have a delay of up to 15 minutes. While this does not affect your ability to buy and hold stocks it does matter significantly in high-speed day trading.
- Market Depth: Webull’s free charts also do not include any market depth information such as the top bid and ask prices and the spread in between. To be fair, this feature is not available on most other brokerage platforms at all!
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Is Webull market data free?
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Is Webull Level 2 free?
Webull level 2 provides higher-quality charts and simply more information to accurately place your trades in real-time. Unfortunately, level 2 on Webull is not free. While you will get access to the level market data for 3 months upon opening a new account, the price for renewal is currently $1.99 per month.
The difference in market data you will receive on level 1 compared to level 2 is quite remarkable as you can see from the image below. Level 2 provides access to the complete NASDAQ order book and lets you view the top 50 bid and ask prices for any given security.
In addition to that, you will also get access to better Webull charts that not only include more data points but also more accurate information such as real-time data.
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Is OPRA free on Webull?
OPRA quotes are real-time quotes for options trading and are generally available for free on Webull. However, your account needs to be approved for options trading first before you will be able to access these quotes.
Once you sign up at https://webull.com/options you will have to wait for around 24-48 hours for approval. Once approval is completed you should receive a notification that your account has also been automatically subscribed to OPRA real-time quotes.
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