Commission free trading provider Webull has announced the launch of its new desktop trading platform. The broker's desktop app builds on its existing platform by offering dozens of widgets that traders can use to trade stocks, analyze price data and monitor market news, and track bids closely. update of the popular Webull mobile application and the introduction of commissions by the broker. - Free options trading in March. Webull launched in 2018, but in just three years it has gained more than 11 million users. From April to June, amid the coronavirus stock trading frenzy, the brokerage registered an additional 450.000 trading accounts and the platform saw its trading volume nearly quintupled.
Tackle traditional corridors
Notably, Webull has built this following in part by trying to attract users to Robinhood, its closest competitor in the commission-free trading space. Webull offers a similar range of assets to trade and differentiates itself by providing traders with advanced price charts and technical analysis tools. It also plans to implement cryptocurrency trading to better compete with Robinhood on another front. One of the main motivations for rebooting Webull's desktop platform is to expand its Robinhood competition to traditional brokers like TD Ameritrade and Charles Schwab. These more established players offer rich desktop platforms and have moved to commission-free pricing structures to better compete with novice brokers like Webull. With a stronger cross-platform trading system, Webull is positioning itself to capture new traders who want a complete trading experience.