Trading futures on WeBull means buying or selling a contract that locks in a price for a commodity or index on a future date

WeBull offers futures trading through its platform, but it is not the same as buying a stock. When you trade a futures contract, you are agreeing to buy or sell something — oil, gold, a stock index, a currency — at a set price on a set date. The contract itself moves in value as the market price of that underlying thing changes. Most people close the contract before the delivery date arrives, pocketing the profit or loss. Futures involve leverage, which means you control a large contract value with a small amount of money upfront, and that leverage can multiply both gains and losses.

Before you can trade futures on WeBull, your account must be approved for options trading at the highest level (level 3), and you must have at least $2,000 in your account. WeBull's futures are cash-settled, meaning you never take physical delivery of oil or gold — the contract just pays out the difference between the price you locked in and the price when you close it.

Key Takeaways

  • Your WeBull account needs options approval at level 3 and a minimum balance of $2,000 before you can trade any futures contract.
  • Futures contracts on WeBull expire on specific dates, and you must close or roll your position before expiration or it settles automatically.
  • Leverage in futures means a small price move can result in a large gain or loss relative to the money you put down.
  • You place a futures trade through the WeBull app or desktop platform by searching the contract symbol, selecting your quantity, and choosing buy or sell.

Getting your account approved for futures trading

WeBull requires options approval at level 3 before you can trade futures. This is not automatic. You request it within the app by going to Account > Settings > Options Approval and selecting level 3. WeBull will ask you questions about your investment experience, income, and net worth. The approval is not based on a credit check — it is based on your answers about whether you understand the risks.

Once you have level 3 approval, you still need $2,000 cash in your account to place your first futures trade. This is a minimum balance requirement, not a per-trade requirement. If your account drops below $2,000, you cannot open new positions, but existing ones can stay open. WeBull does not charge a separate approval fee for futures.

Finding and selecting a futures contract

Futures contracts are identified by a symbol that includes the contract month and year. For example, ESZ24 is the E-mini S&P 500 contract expiring in December 2024. The letter at the end tells you the expiration month (Z = December, H = March, M = June, U = September). On WeBull, you search for the contract symbol in the search bar just as you would search for a stock ticker.

Common futures contracts available on WeBull include the E-mini S&P 500 (ES), E-mini Nasdaq 100 (NQ), E-mini Dow (YM), crude oil (CL), natural gas (NG), gold (GC), and the US dollar index (DX). Each contract has different price movements, leverage ratios, and expiration dates. When you click on a contract, WeBull shows you the current bid and ask price, the contract size (how many barrels or ounces or index points you control), and the expiration date.

Placing a buy or sell order

Once you have selected a contract, you enter the order screen. You choose whether you want to buy (go long) or sell (go short). You enter the number of contracts — usually you start with one. Then you choose your order type: market order (fills when ready at the current price), limit order (fills only at a price you set), or stop order (triggers when the price hits a level you choose).

For your first trade, a market order is the simplest. You click buy or sell, review the order summary (which shows your contract, quantity, and estimated cost), and confirm. The order fills within seconds during market hours. WeBull shows your position when ready in your portfolio, along with the entry price, current price, and unrealized gain or loss.

Understanding contract expiration and rolling positions

Every futures contract has an expiration date. As that date approaches, the contract becomes less liquid — fewer people are trading it — and the bid-ask spread widens. Most traders close their position days or weeks before expiration. If you hold a contract past its expiration date, WeBull will automatically close it at the settlement price, and you will realize your gain or loss in cash.

If you want to stay in the trade past expiration, you must "roll" your position: close the expiring contract and open the same contract for a later month. You do this manually by selling the near-month contract and buying the next-month contract. Some traders set calendar reminders 30 days before expiration so they do not forget. WeBull does not automatically roll positions for you.

Managing risk with stop losses and position sizing

Because futures use leverage, a small move against you can wipe out your entire position quickly. The most common protection is a stop-loss order: you set a price level, and if the contract drops to that price, your position automatically closes. For example, if you buy one ES contract at 5,000, you might place a stop-loss at 4,980 to limit your loss to 20 points.

Position sizing is equally important. Most experienced traders risk only 1 to 2 percent of their account on a single trade. If your account is $2,000 and you risk 2 percent, that is $40 per trade. On an ES contract, each point is worth $50, so a 40-point stop-loss would cost you $2,000 — your entire account. This is why many traders start with micro contracts (MES, MNQ) which are one-tenth the size and allow smaller position sizes.

Monitoring your position and closing the trade

Once your order fills, your position appears in the Positions tab on WeBull. You see the entry price, current price, number of contracts, and your unrealized profit or loss in dollars and percentage. The position updates in real time during market hours. You can set price alerts so WeBull notifies you if the contract moves to a certain level.

To close your position, you click the position, select Sell (if you bought) or Buy (if you sold short), enter the number of contracts, and confirm. The order closes when ready at the market price. Your realized gain or loss is then locked in and appears in your account history. You can view all closed trades in the History tab to track your performance over time.

Frequently Asked Questions

What is the difference between micro and standard futures contracts on WeBull?

Micro contracts (MES, MNQ, MYM) are one-tenth the size of standard contracts (ES, NQ, YM). Each point on a micro contract is worth $5 instead of $50. This means you control less value with the same amount of money, so your gains and losses are smaller per contract. Micro contracts are better for beginners because they let you practice with lower risk.

Can I trade futures outside regular market hours on WeBull?

Yes. Most stock index and commodity futures trade nearly 24 hours a day, five days a week on the CME (Chicago Mercantile Exchange). WeBull passes through these extended hours, so you can trade ES, NQ, and other contracts before the stock market opens and after it closes. Liquidity is lower during off-hours, so bid-ask spreads are wider.

What happens if I do not close my position before expiration?

WeBull automatically closes your position at the settlement price on the expiration date. You realize your gain or loss in cash when ready. You do not take physical delivery of the underlying commodity or index. After expiration, the contract is no longer tradeable on WeBull.

How much money can I lose trading futures on WeBull?

Theoretically, you can lose more than your initial investment because of leverage. If you buy one ES contract at 5,000 and it drops to 4,000, you lose $50,000 (1,000 points × $50 per point) even though you may have only put down $500 to $1,000 in margin. This is why stop-loss orders and position sizing are critical.

Do I pay commissions on futures trades with WeBull?

WeBull charges no commission per trade for futures, but the CME (the exchange) charges a small fee per contract, typically $1.25 to $2.25 depending on the contract type. This fee is deducted from your account when you close the trade. You also pay the bid-ask spread, which is the difference between the buy and sell price at any moment.