The recent release of Webull and Robinhood mobile app-based brokerage blew everyone’s mind. These platforms present free trades that have taken away the fear of investing from many by offering easy-to-use products.
Webull and Robinhood have a lot in common, including commission-free trades and free stocks for new applicants. Their similarities make it a bit overwhelming for prospective investors to choose between the two platforms.
However, through extensive research, we have been able to compare Webull and Robinhood side by side. Our careful analysis will provide you with in-depth knowledge about each of these two brokers and that will enable you to choose the particular broker that’s best for you.
The choice between Webull and Robinhood ultimately comes down to your trading product preferences. It forced those who trade lots of options to stay with Robinhood, and Webull is not an option for those who only trade stocks.
Before we dive into the comparison proper, let’s look at an overview of these two trading platforms.
Robinhood is a US zero-fee discount broker established in 2013. Top-tier financial authorities regulate the company, such as the US Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA).
Robinhood Tools include:
- Robinhood Gold
- Daily stock information
Webull is a commission-free stock and ETF trading platform. It was launched in 2018 as a direct competitor to Robinhood in the commission-free mobile investing space.
Webull has extensive research and analytics tools, some are listed below
To choose between Webull and Robinhood broker, you must ask yourself a series of questions like; Am I a beginner? How much can I afford to invest right now? Am I a trader or an investor? What kind of assets would I like to invest in?
By providing answers to the above questions, you are certain about what you want and this will help you choose a platform that will work best for you.
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Webull vs Robinhood
To compare the trading platforms of both Robinhood and Webull, we tested each broker’s trading tools, research capabilities, and mobile apps. We also capture the various Webull vs Robinhood Reviews, their pros, cons, and other features that makes each platform stand out.
|Ratings||Apple App Store reviews: 4.7/5 star ratings|
Google play store: 4.3/5 star ratings
|Apple App Store reviews: 4.8/5 star ratings|
Google play store: 4.3/5 star ratings
|Stock trade fee||$0||$0|
|Option trade fee||$0||$0|
|Minimum deposit to open||$0||$0|
|Margin rates||6.99% up to $25,000||$5/mo. up to $1000, 5% thereafter|
|Tradable assets||Stocks, Options, ETFs, Crypto (coming soon)||Stocks, Options, ETFs, Crypto|
|Platforms||iOS, Android, Desktop||iOS, Android, Desktop|
|In-app analytics||Morningstar, balance sheets, cash flow reports, streaming||Morningstar (Robinhood Gold required for $5/mo.)|
Webull vs Robinhood- Investment performance
Robinhood and Webull charge zero fee for trades outside of their product catalog. However, both platforms charge a standard regulatory fee of $22.10 per $1,000,000 of principle.
They also charge a TAF fee of $.000119 per share, max $5.95, but no brokerage fees or commissions on top of that.
Furthermore, both Webull and Robinhood offer margin investing, where you borrow money from the platform to invest. Robinhood charges $5/mo up to $1,000 or 5% over $1000, while Webull charges 6.99% up to $25,000, and the rest can be found in this chart.
In summary, Robinhood is the better place to learn, and Webull is the better place to make money. Robinhood is clean, simple, and friendly to part-time investors looking to diversify their portfolio with a flat learning curve.
Since both platforms offer slightly different options, your dividends and maximum performance will be determined by how you like to invest.
Robinhood vs Webull- Pricing
From the table above, Robinhood and Webull both cost $0 per trade, and the base fee charge are the same.
Webull vs Robinhood Benefits and Drawbacks
- There are no recorded major service outages for Webull and this makes the platform reliable.
- Webull has a paper trading feature that is not typically offered by most trading platforms and this earned the platform a bonus star.
- Webull has great trading options and that serves as an attractive perk for advanced traders.
- The Webull’s trading simulator allows you practice trading risk-free
- Free extended hours trading pre-market and after-market
- Webull offers real-time data on US markets for free
- Robinhood offers fast deposits approval; up to $1,000 are approved in seconds.
- Beginners and first-time traders find Robinhood very friendly.
- Robinhood offers access to cryptocurrency which makes the platform differentiate itself from competitors.
- Limited securities: investors can only trade stocks, ETFs, and options contracts.
- Webull has a complex interface and is not beginners friendly.
- No crypto trading
- Limited analytical and research tool
- No retirement account(IRA)
- Fair customer support: Robinhood’s customer service is limited to email inquiries
The differences between Webull and Robinhood are glaring in terms of customer support. For trading tools, Webull offers a better experience. With research, Webull offers superior market research.
On the other hand, Robinhood is clearly geared towards beginner investors. With its robust toolkit and advanced features. Both platforms are 100 percent free, so you can try them both and see which one is a better fit for you.
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