Webull vs Forex.com - Fees Review included
Which broker is better Webull or Forex.com? Our expert assessment conducted according to TU’s own methodology showed that Webull is one of the top brokers in the financial market with the TU Overall Score of 7.09 out of 10. Forex.com is one of the top brokers in the financial market with the TU Overall Score of 5.24 out of 10. Find out more about TU Overall Score.
| Feature | Webull | Forex.com |
|---|---|---|
Overall |
3.2 |
4.3 |
5 |
5 |
|
3.4 |
4.3 |
|
3.1 |
4.4 |
|
Investment Instruments |
4.0 |
3.5 |
Platforms and Charting Tools |
3.1 |
4.5 |
Deposit and Withdrawal |
2.7 |
4.2 |
Research |
1.8 |
4.7 |
Education |
1.2 |
4.3 |
Support |
3.6 |
4.8 |
Bonuses |
4.1 |
4.2 |
Webull vs Forex.com: Pros and Cons
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
Speaking of recognitions and awards, Oanda doesn’t lag behind as it has several awards to its name. The US Foreign Exchange Report awarded it the Best Customer Service, while FX Week crowned it the Best Trading Platform. There’s also an award from the UK Forex Awards where Oanda bagged top honors in the Best Forex Trading Technologies category.
| Webull | Forex.com | |
|---|---|---|
| Overall Pros | Zero commission when trading stocks, options, and ETFs | Orders executed at high speeds |
| No minimum deposit requirements for brokerage and retirement (IRA) accounts | 4500+ instruments across various markets | |
| Access to professional intelligent analytics and trading tools | Tight spreads on over 90 assets | |
| Rebate and discount programs are available | ||
| High-level investor protection | ||
| Diverse technical research tools | ||
| Caters to a wider audience of users | ||
| Creates a variety of quality, written content daily | ||
| Low fees and relatively cheap commission costs | ||
| Overall Cons | There is no support for trading in mutual funds, futures, bonds or stocks of the OTC markets | Fewer deposit and withdrawal options |
| It doesn’t provide an opportunity to make transactions with currency pairs | Lacks a multi-language version | |
| Cryptocurrency trading is available only in mobile applications | ||
| Replenish your account from $2,000 to trade with favorable leverage |
Webull vs Forex.com: Safety and Regulation
| Regulated By: | Webull | Forex.com |
|---|---|---|
US Regulation |
Yes |
Yes (CFTC) |
FCA (Great Britain) |
No |
Yes |
CySec (Cyprus, EU) |
No |
No |
ASIC (Australia) |
No |
No |
Other Regulators |
Membership in the SIPC Insurance Fund |
Japanese Financial Services Authority (JFSA), nvestment Industry Regulatory Organization of Canada (IIROC), Cayman Islands Monetary Authority (CIMA), The Securities and Futures Commission (SFC), The Monetary Authority of Singapore (MAS) |
Webull vs Forex.com: Trading Conditions
| Trading Conditions | Webull | Forex.com |
|---|---|---|
Minimum Deposit |
1 USD |
$100 |
Trading Platforms |
Own platform |
МТ4 |
Max Leverage (Futures) |
1-2/1-4 |
1-500 |
Supported Markets |
Stocks, options, ETFs, ADRs, cryptocurrencies |
Forex, CFDs (not for all entetities): Forex, Indexes, Stocks, Commodities, Metals, Cryptocurrencies |
Trading assets |
100+ |
4500+ |
Trading Accounts |
Paper Account (Demo), Margin Account, Cash Account (IRA, Individual) |
Standard, Commission, and Direct Market Access |
Base Account Currencies |
USD |
USD, EUR, GBP |
Webull vs Forex.com: Fees
Forex Trading Fees
| Fee | Webull | Forex.com |
|---|---|---|
Standard Account EURUSD Average Spread |
Market stock spread |
1.1 pips |
Standard Account Fee |
From $0,002. for each share. There are also other fees for certain transactions |
$0 |
ECN/STP Account Fee |
Not supported |
$8-$3 per lot (volume based fees) |
ECN Account EUR Average Spread |
Not supported |
0.2 pips |
CFD Trading Fees
| Fee | Webull | Forex.com |
|---|---|---|
CFD Trading Fee |
Market stock spread |
Floating spread |
Non-Trading Fees
| Fee | Webull | Forex.com |
|---|---|---|
Account Fee |
No |
No |
Deposit Fee |
Yes |
No |
Withdrawal Fee |
Yes |
No |
Inactivity Fee |
No |
$15 monthly after 12 months of inactivity |
A conversion fee may be applied as withdrawals and deposits are conducted in USD. Any other currency will have to be converted.
Webull vs Forex.com: Trading Assets
| Asset Name | Webull | Forex.com |
|---|---|---|
Overall |
100+ |
4500+ |
Forex |
No |
Yes |
Stocks |
Yes |
No |
Metals |
No |
Yes (CFD) |
Cryptocurrencies |
Yes |
Yes (CFD) |
Energy |
No |
Yes (CFD) |
Indices |
No |
Yes (CFD) |
ETFs |
Yes |
No |
Bonds |
No |
Yes (CFD) |
Mutual funds |
No |
No |
Stock options |
No |
No |
Futures Trading |
No |
No |
Binary Options |
No |
No |
Webull or Forex.com: Investment Programs
| Asset Name | Webull | Forex.com |
|---|---|---|
Copy Trading |
No |
No |
MAM/PAMM |
No |
No |
Managed Accounts |
No |
No |
Other |
No |
No |
Trading Platforms: Forex.com or Webull
| Webull | Forex.com | |
|---|---|---|
MT4 |
No |
Yes |
MT5 |
No |
Yes |
cTrader |
No |
No |
Appropriate platform |
No |
Forex.com |
Others |
Own trading platform |
No |
Webull vs Forex.com: Deposit and Withdrawal Methods
| Deposit and Withdrawal Method | Webull | Forex.com |
|---|---|---|
Bank Transfer |
Yes |
Yes |
Debit Card |
Yes |
Yes |
Electronic Wallets |
No |
Yes (not for all markets) |
Crypto |
No |
No |
Webull vs Forex.com: Research
| Research Type | Webull | Forex.com |
|---|---|---|
News Feed |
No |
Yes |
Fundamental Data |
No |
Yes |
Chart Analysis |
No |
Yes |
Trading Ideas |
Yes |
Yes |
E-Mail Reports |
No |
Yes |
Webull vs Forex.com: Education
| Education Type | Webull | Forex.com |
|---|---|---|
Demo-account/Paper Trading |
Yes |
Yes |
Webinars |
No |
Yes |
Articles |
No |
Yes |
Videos |
No |
Yes |
Cent account |
No |
Yes |
Forex.com vs Webull: Support
| Support Features | Webull | Forex.com |
|---|---|---|
Working Days |
24/7 |
24/5 |
Yes |
Yes |
|
Phone |
Yes |
Yes |
Online chat |
No |
Yes |
Other |
No |
Complaint form, FAQ support |
Webull vs Forex.com: Forex Bonuses and Promo
| Promo | Webull | Forex.com |
|---|---|---|
Forex Bonus |
Flexible bonus system with the ability to receive a bonus in the form of securities in the amount of up to 1600 USD |
Yes (Not for all countries) |
Affiliate Program |
Yes |
Yes |
Other Promos |
||
Top 5 Reviews on Forex.com
-
Comment
Yes, Forex.com has good conditions for trading various assets. I myself started trading here and was worried that I would face some kind of manipulation. At first, of course, there were losses, but now I was able to recover the losses and start making a profit. I can recommend Forex.com for making profits on Forex.
-
Comment
This company has been operating in the Forex market for a long time. And it seems that traders don't have any serious complaints about Forex.com. So I decided to try trading here and see how my trading strategies would work. After five months of cooperation, I can say the following. Spreads at Forex.com are not the smallest. Therefore, it's better not to rely on fast trades. The platform works well, there are no restrictions on trading time and trading strategies. Forex.com has a withdrawal to a bank card within 7 days, and they stick to this timeframe.
-
Comment
I am completely satisfied with Forex.com as a broker. I like their convenient platform, developed by the company’s specialists. You can use mobile and other versions of the platform. I won't call myself an expert, but my little experience tells me that this is the right broker for me.
-
Comment
Forex.com offers good conditions. It's essential to understand that the broker operates based on European legislation and complies with regulatory requirements. Commissions at Forex.com are not particularly low. Additionally, the spread in the terminal is slightly above average. However, for me, it's one of the oldest and most reliable brokers. Therefore, I have been trading here for three years.
-
Comment
I finally decided to try my hand at trading in the Forex market. Choosing a broker was not easy, given my relatively low level of knowledge about this exchange. I was primarily interested in the opportunity to receive quality education and master all the intricacies of trading. As a result, I chose Forex.com and immediately enrolled in their online training course. However, it's unfortunate that they don't offer micro accounts here for practicing trading without risking significant amounts of money.
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.
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.
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.