Webull says the information on its platform is not investment advice and that users are responsible for their own investment decisions, including the risk of losing money.
This analysis describes what Webull's agreement states, permits, or reserves. It does not constitute a legal determination about enforceability. Regulatory applicability and practical outcomes may vary by jurisdiction, enforcement context, and individual circumstances. Read our methodology
This disclaimer allocates responsibility for investment decisions to users and establishes boundaries on the informational content Webull provides through its platform. It operationally clarifies that the Services function as an information resource rather than an advisory service.
Interpretive note: Whether specific platform features constitute recommendations subject to Regulation Best Interest depends on their design and presentation, and the disclaimer alone may not resolve that regulatory question.
Investors using Webull's research tools, news feeds, or analytical content do so at their own risk, as the agreement states this content does not constitute investment advice and Webull is not liable for investment losses resulting from reliance on platform information.
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Our Services may produce inaccurate information about people, places, or facts. Outputs from our Services should not be relied upon as a sole source of truth or for professional advice. You should not use our Services as a substitute for the advice of a qualified professional such as a doctor, lawye...
SECTION 18 OF THIS AGREEMENT CONTAINS A DISCLAIMER OF WARRANTIES.
Your use of the Services is at your own risk: We provide the Services on an 'AS IS' and 'AS AVAILABLE' basis, and we disclaim all warranties, responsibility, and liability to you or others to the extent permitted by law. You may be exposed to offensive or harmful Content posted by other users. The S...
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"The information provided on the Services is for informational purposes only and should not be construed as investment advice. Webull does not provide investment advice. Any information available through the Services should not be used as a substitute for the advice of a licensed financial advisor. Investing involves risk, including the possible loss of principal. Past performance is not indicative of future results.— Excerpt from Webull's Webull Customer Agreement
REGULATORY LANDSCAPE: This provision engages SEC and FINRA regulations governing investment advice, including the distinction between broker-dealer execution services and registered investment adviser services under the Investment Advisers Act of 1940. Webull's disclaimer is consistent with its registration as a broker-dealer rather than a registered investment adviser, but the SEC's Regulation Best Interest (Reg BI) imposes a best interest standard on broker-dealers when making recommendations, which may limit the practical scope of this disclaimer for any content that constitutes a securities recommendation. FINRA Rule 2010 on standards of commercial honor and principles of trade is also relevant. GOVERNANCE EXPOSURE: Medium. The disclaimer is standard practice for broker-dealer platforms offering market data and research tools. However, if Webull's platform features, notifications, or algorithmic prompts function as recommendations under Reg BI, the disclaimer alone may not insulate Webull from regulatory obligations to act in the customer's best interest. JURISDICTION FLAGS: Some states have enacted fiduciary standards for financial advisors that may apply to certain types of personalized investment guidance, even if provided through a digital platform. EU and UK regulations impose conduct-of-business rules on firms providing investment services that may constrain the scope of this disclaimer for users in those jurisdictions. CONTRACT AND VENDOR IMPLICATIONS: Institutional users relying on Webull's data or research outputs for their own client-facing services should note that Webull expressly disclaims responsibility for investment outcomes and that this disclaimer would likely be reflected in any downstream liability analysis. COMPLIANCE CONSIDERATIONS: Legal teams should evaluate whether any feature of Webull's platform that makes personalized suggestions or prompts constitutes a recommendation under Reg BI, which would trigger best interest obligations regardless of the disclaimer. The adequacy of risk disclosures at the point of user decision-making, rather than only in the Terms of Service, should be reviewed.
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This disclaimer allocates responsibility for investment decisions to users and establishes boundaries on the informational content Webull provides through its platform. It operationally clarifies that the Services function as an information resource rather than an advisory service.
Investors using Webull's research tools, news feeds, or analytical content do so at their own risk, as the agreement states this content does not constitute investment advice and Webull is not liable for investment losses resulting from reliance on platform information.
No. ConductAtlas is an independent monitoring service. We are not affiliated with, endorsed by, or sponsored by Webull.