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Webull is a large and relatively new financial services provider. Founded in 2017 by Wang Anquan and based in New York, its total registered users exceeded 11 million last year. However, investors have been left angry at Webull’s handling of the recent WallStreetBets situation, and whilst it stopped short of selling its own users’ shares as Robinhood did, Webull halted all orders for stocks affected by the short squeeze on January the 28th.
These stocks included GameStop (GME) and AMC Entertainment Holdings (AMC), two of the most prominent stocks of recent weeks. Retail investors saw Webull’s decision as a clear signal that it has sided with the hedge funds over regular amateur investors. Though some Webull rivals have made similar decisions, there are Webull alternatives that haven’t betrayed their users.
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What are Webull alternatives to trade GME, AMC, BB, & NOK today?
The company’s restrictions haven’t been permanent, unlike some Webull competitors, but most investors feel the damage has already been done. Webull’s CEO, Anthony Denier, appeared on Yahoo Finance in an attempt to justify his decision, stating it was taken due to “settlement mechanics in the market.” Something tells me that retail investors aren’t buying this.
It’s time to find an alternative to Webull to buy GME and AMC stock today. If you want to buy GME, AMC, Blackberry (BB), or Nokia (NOK) shares right now, you must choose a trustworthy broker that won’t impose restrictions on your account. We have reviewed many of them, and our top three Webull alternatives are listed below.
1. BlackBull Markets
BlackBull Markets is a strong Webull alternative. Established in 2014, the reliable New Zealand-based broker has kept its integrity and continued to allow trades of highly-shorted stocks. You can start trading GME and AMC today.
2. Saxo
Saxo is an investment banking company with a good reputation for reliability. It is a strong Webull competitor and continues to offer the opening of buy positions for GME, AMC, BB, and NOK. You can buy GameStop or AMC today with Saxo.
3. AvaTrade
A standout alternative to Webull, AvaTrade has continued to allow its users to freely trade GME and AMC throughout this volatile situation. It is a good platform for investors to consider.
Webull’s CEO doesn’t help the company’s reputation
Denier’s interview with Yahoo Finance has recieved quite the backlash.
Whatever PR slant Webull tries to put on this, investors already know whose side they are on.
A furious backlash against Webull
Investors haven’t held back on social media in the last few days, as Webull’s decision has been eviscerated by the general public.
We hope this list has helped you to identify a viable alternative platform to Webull that can help you regain control of your investment portfolio. If you still aren’t convinced by any of our recommendations, check out our website for more platforms.
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