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 |
|---|---|---|---|
Max. Regulation Level |
Tier-1 |
||
Investor protection |
$500,000 £85,000 |
||
FCA UK Regulation |
Yes |
||
FINRA (U.S) |
Yes |
||
BaFin (Germany) |
No |
||
ASIC (Australia) |
Yes |
||
CFTC (U.S) |
Yes |
||
MAS |
Yes |
||
FSCA SA |
No |
||
BVI FSC |
No |
||
VFSC |
No |
||
FSA (Seychelles) |
No |
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
| Fee | Interactive Brokers | Webull | NinjaTrader |
|---|---|---|---|
Standard acc. spread EUR/USD, min pips |
0.2 |
||
Standard acc. spread EUR/USD, max pips |
0.8 |
||
ECN Commission |
2 |
||
ECN Spread EUR/USD |
0.2 |
||
Deposit fee, % |
No |
||
Withdrawal fee, % |
Yes |
||
Withdrawal fee, USD |
Yes |
||
Inactivity fee, $ |
No |
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 Wire |
Yes |
||
Bank Card |
No |
||
Neteller |
No |
||
BTC |
No |
||
Wise |
Yes |
||
Payoneer |
No |
||
USDT |
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 |
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.
