Interactive Brokers vs Webull vs NinjaTrader - Fees Review included
| Feature | Interactive Brokers | Webull | NinjaTrader |
|---|---|---|---|
Overall |
4.9 |
3.2 |
3.9 |
5 |
5 |
4.3 |
|
4.9 |
3.4 |
4.4 |
|
5 |
3.1 |
4.2 |
|
Investment Instruments |
4.2 |
4.0 |
1 |
Platforms and Charting Tools |
5 |
3.1 |
4.3 |
Deposit and Withdrawal |
4.1 |
2.7 |
4.6 |
Research |
4.7 |
1.8 |
4.1 |
Education |
4.5 |
1.2 |
4.3 |
Support |
4.2 |
3.6 |
4.2 |
Bonuses |
3.1 |
4.1 |
1 |
Interactive Brokers vs Webull vs NinjaTrader: Pros and Cons
The biggest international broker
Webull is an American broker-dealer headquartered in New York City and is a FINRA, SIPC, NYSE, and NASDAQ member. The company was incorporated in May 2017, and in January 2018 it was already registered with the SEC. It is part of Webull Financial LLC and is licensed to carry out brokerage activities in all 50 US states. The broker offers a wide range of stock market assets, professional analytics and an intuitive trading platform with a variety of technical and fundamental analysis tools
Ninja Trader is a Forex broker that has been providing brokerage services in the derivatives and foreign exchange markets since 2003. The main specialization of the company is in the futures and futures options markets. The broker is a licensed company with domicile in the United States. Ninja Trader also has offices in Germany and the Netherlands, but these are more representative functions.
| Interactive Brokers | Webull | NinjaTrader | |
|---|---|---|---|
| Overall Pros | Access to 135 markets in 33 countries | Zero commission when trading stocks, options, and ETFs | availability of algorithmic trading using proprietary systems; there are more than 850 |
| 30.000+ trading instruments | No minimum deposit requirements for brokerage and retirement (IRA) accounts | Proprietary trading platform, which is one of the best products for trading in the derivatives markets (like MetaTrader 4 for Forex) | |
| Regulated in the US, UK and 8 other countries | Access to professional intelligent analytics and trading tools | 100+ indicators | |
| Advanced trading platform | Advanced chartign software | ||
| Free stocks for registration | Advanced historical tick data | ||
| Low fees | |||
| Low margin rates | |||
| Nasdaq Listed company | |||
| 25 supported account currencies | |||
| Overall Cons | long and complex registration procedure | There is no support for trading in mutual funds, futures, bonds or stocks of the OTC markets | high trading costs. In addition to the commission for the contract, there are exchange and regulatory fees, a fee to the trade provider (intermediary broker) |
| It doesn’t provide an opportunity to make transactions with currency pairs | The initial deposit is from USD 400. But that amount has nothing to do with fees associated with the US stock market | ||
| Cryptocurrency trading is available only in mobile applications | the broker is tailored exclusively for the US futures and options markets | ||
| Replenish your account from $2,000 to trade with favorable leverage | a deep understanding of the principles of the derivatives market and the rules for working with exchanges is required | ||
| Chat and phones contacts are missing |
Interactive Brokers vs Webull vs NinjaTrader: Safety and Regulation
| Regulated By: | Interactive Brokers | Webull | NinjaTrader |
|---|---|---|---|
US Regulation |
Yes |
Yes |
No |
FCA (Great Britain) |
Yes |
No |
No |
CySec (Cyprus, EU) |
No |
No |
No |
ASIC (Australia) |
No |
No |
No |
Other Regulators |
Investment Industry Regulatory Organization of Canada (IIROC), Central Bank of Ireland (CBI, reference number C423427), Central Bank of Hungary (Magyar Nemzeti Bank), Australian Securities and Investments Commission (AFSL: 453554) and is a participant of ASX, ASX 24 and Cboe Australia, Hong Kong Securities and Futures Commission, and is a member of the SEHK and the HKFE, India SEBI Registration No. INZ000217730, Japan - Kanto Local Finance Bureau (Registration No.187) and is a member of Japan Securities Dealers Association and The Commodity Futures Association of Japan, Monetary Authority of Singapore (Licence No. CMS100917) |
Membership in the SIPC Insurance Fund |
NFA |
Interactive Brokers vs Webull vs NinjaTrader: Trading Conditions
| Trading Conditions | Interactive Brokers | Webull | NinjaTrader |
|---|---|---|---|
Minimum Deposit |
$0 |
1 USD |
For futures - $400, for Forex - $50 |
Trading Platforms |
IB Trader Workstation, IBKR GlobalTrader, Client Portal |
Own platform |
Ninjatrader |
Max Leverage (Futures) |
1-50 |
1-2/1-4 |
None |
Supported Markets |
Stocks, Forex, ETFs, Mutual Funds, Bonds, Stock options, Commodity Futures, Currency futures, Cryptocurrencies, Robo-portfolios, hedge funds |
Stocks, options, ETFs, ADRs, cryptocurrencies |
Derivatives market - instruments of exchanges CME, CBOT, NYMEX, COMEX, NYBOT, ICE US, ICE UK, EUREX |
Trading assets |
30000+ |
100+ |
100+ |
Trading Accounts |
Cash account, margin account |
Paper Account (Demo), Margin Account, Cash Account (IRA, Individual) |
Futures account, Forex account, affiliates’ accounts |
Base Account Currencies |
USD, EUR, GBP, AUD, CAD, CZK, DKK, HKD, HUF, ILS, JPY, MXN, NZD, NOK, PLN, SGD, SEK, CHF, CNH |
USD |
EUR, USD |
Interactive Brokers vs Webull vs NinjaTrader: Fees
Forex Trading Fees
| Fee | Interactive Brokers | Webull | NinjaTrader |
|---|---|---|---|
Standard Account EURUSD Average Spread |
0.1 pips |
Market stock spread |
1.4 pip |
Standard Account Fee |
0.08 to 0.20 bps times trade size |
From $0,002. for each share. There are also other fees for certain transactions |
$0 |
ECN/STP Account Fee |
0.08 to 0.20 bps times trade size |
Not supported |
Not supported |
ECN Account EUR Average Spread |
0.1 pips |
Not supported |
Not supported |
CFD Trading Fees
| Fee | Interactive Brokers | Webull | NinjaTrader |
|---|---|---|---|
CFD Trading Fee |
0.05% on all share CFDs |
Market stock spread |
Not supported |
Non-Trading Fees
| Fee | Interactive Brokers | Webull | NinjaTrader |
|---|---|---|---|
Account Fee |
No |
No |
No |
Deposit Fee |
No |
Yes |
ACH: Free; Incoming Check or Wires; No fee; Bounced Check: $30 |
Withdrawal Fee |
$10 per wire transfer, $1 per BACS/GIRO/ACH/EFT/SEPA |
Yes |
ACH: 2 free per month, $15 per additional monthly withdrawal; Check: $7; Domestic Wire Transfer: $30; International Wire Transfer: 50 units of originating currency |
Inactivity Fee |
No |
No |
$25 after 1 month of inactivity |
Interactive Brokers vs Webull vs NinjaTrader: Trading Assets
| Asset Name | Interactive Brokers | Webull | NinjaTrader |
|---|---|---|---|
Overall |
30000+ |
100+ |
100+ |
Forex |
Yes |
No |
Yes |
Stocks |
Yes |
Yes |
No |
Metals |
Yes |
No |
No |
Cryptocurrencies |
Yes |
Yes |
No |
Energy |
Yes |
No |
No |
Indices |
Yes |
No |
No |
ETFs |
Yes |
Yes |
No |
Bonds |
Yes |
No |
No |
Mutual funds |
Yes |
No |
No |
Stock options |
Yes |
No |
No |
Futures Trading |
Yes |
No |
Yes |
Binary Options |
No |
No |
No |
Interactive Brokers or Webull or NinjaTrader: Investment Programs
| Asset Name | Interactive Brokers | Webull | NinjaTrader |
|---|---|---|---|
Copy Trading |
No |
No |
No |
MAM/PAMM |
No |
No |
No |
Managed Accounts |
No |
No |
No |
Other |
Robo-portfolios, hedge funds, Bonds |
No |
No |
Trading Platforms: Interactive Brokers or Webull or NinjaTrader
| Interactive Brokers | Webull | NinjaTrader | |
|---|---|---|---|
MT4 |
No |
No |
No |
MT5 |
No |
No |
No |
cTrader |
No |
No |
No |
Appropriate platform |
IB Trader Workstation, IBKR GlobalTrader, Client Portal |
No |
NinjaTrader |
Others |
No |
Own trading platform |
No |
Interactive Brokers vs Webull vs NinjaTrader: Deposit and Withdrawal Methods
| Deposit and Withdrawal Method | Interactive Brokers | Webull | NinjaTrader |
|---|---|---|---|
Bank Transfer |
Yes |
Yes |
Yes |
Credit/Debit Card |
No |
Yes |
Yes |
Electronic Wallets |
No |
No |
Yes |
Crypto |
No |
No |
No |
Interactive Brokers vs Webull vs NinjaTrader: Research
| Research Type | Interactive Brokers | Webull | NinjaTrader |
|---|---|---|---|
News Feed |
Yes |
No |
No |
Fundamental Data |
Yes |
No |
No |
Chart Analysis |
Yes |
No |
Yes |
Trading Ideas |
No |
Yes |
Yes |
E-Mail Reports |
Yes |
No |
No |
Interactive Brokers vs Webull vs NinjaTrader: Education
| Education Type | Interactive Brokers | Webull | NinjaTrader |
|---|---|---|---|
Demo-account/Paper Trading |
Yes |
Yes |
Yes |
Webinars |
Yes |
No |
No |
Articles |
Yes |
No |
No |
Videos |
Yes |
No |
Yes |
Cent account |
No |
No |
No |
Interactive Brokers vs Webull vs NinjaTrader: Support
| Support Features | Interactive Brokers | Webull | NinjaTrader |
|---|---|---|---|
Working Days |
24/5 |
24/7 |
24/5 |
Yes |
Yes |
Yes |
|
Phone |
Yes |
Yes |
Yes |
Online chat |
Yes |
No |
Yes |
Other |
Community forum, Software bug reports |
No |
No |
Interactive Brokers vs Webull vs NinjaTrader: Forex Bonuses and Promo
| Promo | Interactive Brokers | Webull | NinjaTrader |
|---|---|---|---|
Forex Bonus |
No |
Flexible bonus system with the ability to receive a bonus in the form of securities in the amount of up to 1600 USD |
No |
Affiliate Program |
As Referrer you can earn up to USD 1000 of IBKR stock. The Refer a Friend program allows eligible IBKR clients to refer people to IBKR for a flat fee payment. Residents of Japan, Spain and Israel are not eligible to participate in the program. |
Yes |
No |
Top 5 Reviews on Interactive Brokers
-
Comment
I am very glad that I found Interactive Brokers, because it is convenient to work with — the service is well made and streamlined, the user account is convenient, and you can trade on different platforms and use robots. There are a lot of tools for traders. In general, their approach to work is serious.
-
Comment
I recently started trading with interactive brokers, but I am already trading on a live account. There is no delay in withdrawing money, the execution is excellent, and they make life easier for traders, as they allow you to trade with different strategies. You can try whatever you want and the choice of platforms is amazing, so there is a space for experiments.
-
Comment
There are no problems with Interactive Brokers. All trading operations are carried out as needed. There is a license and regulators, and that definitely says a lot.
-
Comment
Attempts to successfully invest funds haven’t always brought me the positive results that were promised to me by the brokers with whom I worked. I had to start searching, and those who search always find. I found interactive brokers. As a result, in six months, I doubled the money invested. I hope that I will stay here for a long time.
-
Comment
No worries with Interactive Brokers. I know for sure that the company will not let you down. How many years here and only a positive opinion about Interactive Brokers. Always, on all thematic resources, I advise this company.
Top 5 Reviews on Webull
-
Comment
The Webull broker is characterized by low-quality execution of transactions. Transactions revolve within the company. If you compare trading here with trading in other companies, the difference will be very noticeable. I do not advise.
-
Comment
I have been cooperating with Webull for the third month. It seems to me that this is a sufficient period to see all the obvious advantages and disadvantages of the company. First, about the cons, which, perhaps, only catch me. I don't like their terminal from the word "generally". It lacks tools for analysis, and performance leaves much to be desired. Another disadvantage is that access to margin trading is opened from $2,000 in the account balance. But still, I lingered here, because there are pluses: trading without spreads, increased leverage on intraday trading and a demo account for testing strategies. I don’t see a worthy replacement among competitors yet, I stay with Webull until better times.
-
Comment
I won’t complain about Webull either. My homie advised me to cooperate with this broker and I immediately checked its legal documents. It’s as clear as day, the company operates in the legal field. Trust my experience, there are a lot of scammers these days but Webull is not one of them. The broker's terminal is rock-solid, and after the last update, it became even more convenient to use it compared to before. Everything is smooth with payments and the company strives to make the process even better.
-
Comment
I opened an account with Webull a year ago, the company's experts helped to develop a strategy and decide on financial instruments. I cannot say that I am very impressed with the results, but there is an indisputable plus from our cooperation. Transactions are well protected, there is no commission for withdrawing funds from the account.
Top 5 Reviews on NinjaTrader
-
Comment
I requested a withdrawal from Ninja Trader at the end of the day and received my funds quickly without any delay or problem. I was pleasantly surprised by the transaction speed, especially considering that some companies delay payments for several months. Moreover, I make good profits trading on the Ninja Trader platform, which works flawlessly if you have trading experience, of course.
-
Comment
Whether it is worth opening an account with Ninjatrader is a rhetorical question. Perhaps this makes sense for professional traders from the USA: the broker is regulated by the NFA, has been operating since 2003 and offers the use of ready-made trading systems, so for lovers of automatic trading, that’s it. There are no complaints about the functionality of the terminal. But at the same time, trading and non-trading costs ... To put it mildly, unprofitable. Not only is there a withdrawal fee, but taxes also need to be paid. For beginners and those who trade in small volumes, this is unprofitable. And finally: to trade futures in Ninjatrader, you need to deposit at least $400, for Forex - $50.
-
Comment
After a simple registration, I could choose a standard or demo trading account. By choosing a demo account, I received a deposit of 100,000 virtual dollars. So, you’ll be able to hone your trading skills and try out strategies without the risk of losing funds. Also, a demo account allows you to check the quality of services and the functionality of the platform. I have tried many brokers and Ninja Trader is the best so far. Execution is lightning-fast, there are no hidden fees, and they have unreal trading conditions. I need to have constant access to the trading platform. That is why a mobile application is a real catch. Thus, I can trade using my smartphone. At the moment, both versions for Android and iOS are available. The application allows you to see the activity feed of other traders in real-time, get acquainted with the cost of various financial instruments, track the status of a trading account and interact with other traders using a social network. I’m in the right frame of m
-
Comment
They have an affiliate program that has been developed for active traders like myself who want to receive passive income. Thus, the client can advertise the project and receive a monetary reward for it. I love it. When I was undecided, this broker allowed me to trade and earn money. It was a breaking point. The platform provides services for online transactions in commodities, currencies, stocks, and indices. Users receive a financial platform that is suitable for both the professional and the beginner. Each trader needs to read the rules before registering. Moreover, tons of instruments are provided for traders. Besides, I liked that Ninja Trader has a demo account. The advantage of a demo account is that the client can try his hand and trade without the risk of losing funds. Also, for the convenience of traders, a mobile application was created that provides access to the platform 24/7. Break a leg, guys.
-
Comment
I have experience working with various brokers, and in the end, for one reason or another, I felt blue. I switched to this broker on the advice of a friend. I started trading here several months ago. I now trade on a real account. I have no complaints and I do not plan to switch from Ninja Trader. This broker meets my main requirements. And the technical support is running savoir-faire. If I need their professional help and sound advice, they will solve my problems.
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FAQs
What should I start Forex trading with?
It is desirable for novice traders to explore trading using a demo account to learn the market and how to work on the trading platform without the risk of suffering losses. At the same time, it is advisable to review the educational materials of the broker, learn trading basics. Then you can deposit the minimum required amount to perform a small number of transactions. If you manage to close several months in a row in the black, without substantial drawdowns on the account, then you can try increasing your deposit. Also trying to copy trades automatically is a good option for a start.
What amount should I start trading with?
The minimum deposit of $10 may be enough to trade on the cent account. However, for trading on Standard/ECT accounts, experts recommend starting with at least $200-500. With this amount, you can use not a very big leverage. Remember, getting carried away with the margin is the main cause of losses among beginners.
What should I take into consideration when choosing a broker?
Experts recommend looking at the broker’s reliability first and foremost. The other important features include basic trading conditions, commissions and fees, customer reviews. If brokers are approximately the same in terms of basic criteria, you need to choose based on your experience and tasks. One broker may be good for professionals and another – for novice traders.
Is it possible to be scammed by a broker with a license from a reputable regulator?
In theory, yes. But in practice, it takes so much time and money to comply with the requirements of reputable regulators that it is not worth it for scammers to bother obtaining a legitimate license.
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Team that worked on the article
Mikhail Vnuchkov joined Traders Union as an author in 2020. He began his professional career as a journalist-observer at a small online financial publication, where he covered global economic events and discussed their impact on the segment of financial investment, including investor income. With five years of experience in finance, Mikhail joined Traders Union team, where he is in charge of forming the pool of latest news for traders, who trade stocks, cryptocurrencies, Forex instruments and fixed income.
Olga Shendetskaya has been a part of the Traders Union team as an author, editor and proofreader since 2017. Since 2020, Shendetskaya has been the assistant chief editor of the website of Traders Union, an international association of traders. She has over 10 years of experience of working with economic and financial texts. In the period of 2017-2020, Olga has worked as a journalist and editor of laftNews news agency, economic and financial news sections. At the moment, Olga is a part of the team of top industry experts involved in creation of educational articles in finance and investment, overseeing their writing and publication on the Traders Union website.