While several brokers are available for people who want to start trading, many
individuals prefer using a platform that has lower
fees. This is why many people opt for Webull or Robinhood.
In a Webull vs. Robinhood comparison, we can observe quite a large number of
similarities. At the same time, there are differences when looking at the two - when considering all
of the differences, it becomes easier to choose the right free broker for you in particular.
The experts at Traders Union conducted extensive research, comparing various aspects of Webull to
Robinhood. In fact, we used 11 different elements to create a more accurate overview of the two and
help you make a decision that yields more efficient results.
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Webull or Robinhood: Which Broker is Actually Better in 2024?
Several features are similar in a comparison between Webull and Robinhood. Both come with mobile trading options, a web platform, and no trading fees. Webull and Robinhood can both be used for options, stocks, cryptocurrency, ETFs, and indexes. Both platforms give you access to more than 10,000 trading instruments and use USD as a base currency. The platforms are regulated by SEC and FINRA.
Taking a closer look, however, a few important differences can be noted. While Webull comes with desktop software that can be used for trading, the same feature is not available at Robinhood. Webull also offers a larger number of indicators. There are 47 indicators on the Webull platform, but only five on Robinhood. With Webull, customers gain access to 14 drawing tools, live quotes, and historical tables - these are features that the Robinhood platform lacks.
With this said, Robinhood does have a few upsides over Webull too. With the Robinhood platform, a special Apple Watch app can be used to initiate trades or check up on your existing positions. Robinhood also offers deposits and withdrawals through a debit card.
Webull Vs. Robinhood: Which Broker Is Better For Newbies?
Both Webull and Robinhood have a few tools that can be used by newbies. Overall, however, Webull is the more appropriate option - particularly due to the fact that the platform gives you access to a demo account. This account is loaded with virtual money that can be used to initiate trades - helping you become more experienced without risking real money in the process.
It should be noted, however, that neither Webull nor Robinhood offers newbies access to tools that can be used to create passive income on the platform. None of the platforms offer access to copy trading or bots, for example - common features that people use to automate the trading process.
Which Broker Is Better For Day Trading?
Robinhood lacks essential features used by day traders. This makes Webull the better option for day trading specifically. With Webull, you get access to 14 charting tools, as well as historical data. The ability to access second-level quotations also adds more opportunities for day trading activities when using Webull.
Webull Vs. Robinhood: Which Free Broker Is Actually Cheaper?
The two platforms we looked at are both free brokers. Thus, in this particular sector, they are equal. You do not have to pay any trading fees when using either Webull or Robinhood. Furthermore, there are also non-trading fees associated with your account.
Which Free Broker Is Better For Margin Trading?
Margin trading is one of the few areas where Robinhood seems to be the superior choice. Regardless of the amount traded, the margin with Robinhood remains a fixed 2.50%. With Webull, on the other hand, the margin ranges from 4.99% up to 6.99%.
Choice Of Trading Assets
Variety in the trading assets offered is another area where both of the platforms we look at remain equal. With Robinhood and Webull, you get access to trades involving options, cryptocurrencies, and US stocks. There is a lack of other asset options, however. Neither of the platforms allows you to trade with mutual funds, forex pairs, or bonds. Furthermore, the platforms only focus on markets in the United States with no support for international market options.
Summary
Both Webull and Robinhood offer advanced tools that can help you make successful trades. The two platforms offer similar features, with both being regulated and giving you access to a wide selection of trading pairs. Overall, Webull seems to outrank Robinhood slightly. To choose between the two, it is important to consider your preferences, where you wish to trade, and the currency pairs you are interested in.
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.
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.
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.
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.
I started using Robinhood for cryptocurrency trading. I appreciate the $1 minimum investment and the lack of trading fees. The platform runs smoothly, but the selection of cryptocurrencies is limited, and I’d like to see more altcoins available. Unfortunately, stock or ETF trading services are not yet available in Germany, which is a bit disappointing. However, the mobile app works without delays, and the support team is always ready to assist. Overall, it’s a good option for those who want to explore the cryptocurrency market.
I use Robinhood to buy U.S. stocks. I was attracted to its zero-commission trading and access to over 6,000 assets. I immediately found the price alert feature invaluable. However, there are some drawbacks, such as the lack of access to international markets and the few-day withdrawal period. Using a debit card can expedite withdrawals, though it incurs a fee. Additionally, I would like to see more advanced analytical tools for in-depth market research. Overall, the platform fulfills its purpose. It's genuinely simple and easy to use.
I started using Robinhood to invest small amounts in stocks and cryptocurrencies. The app is convenient, and the registration process takes less than 10 minutes. I was drawn to the absence of trading fees and the $1 minimum investment threshold. The ability to trade fractional shares is also a big plus as it reduces risks and allows me to diversify into more assets. I’ve also enabled the automatic investing feature, which helps me allocate funds efficiently. However, I didn’t like the 1.75% fee for instant transfers; it’s not very cost-effective. The client support is quick, and the 24/7 chat option is truly helpful.
I know for sure that Robinhood is to blame for my losses. These scammers are tweaking the trade the way they want! It is impossible to trade profitably here, they will not allow it. Leave any deposit here. They don't skimp on anything.
Hidden fees are Robinhood's favorite thing to do. I am not the only one who is outraged by this. I know that there are many dissatisfied with such lawlessness in the network. And there is nowhere to complain. Of course, I stopped cooperating with this company, but it continues to deceive other traders!
FAQs
Is Webull really free?
Yes, Webull is one of the few online brokers that offer a range of services at no cost. There is no minimum account balance that is required. The platform also does not have any fees for trading stocks, options, American depository receipts, and exchange-traded funds.
Should I switch from Robinhood to Webull?
Webull does offer some benefits over Robinhood. At the same time, there are also certain benefits that come with an account at Robinhood. If you already have an account with Robinhood, carefully weigh the pros and cons before moving your account to Webull.
Is Webull good for beginners?
Webull is an excellent option for people who are only getting started. Since there is no minimum account fee, beginners can get started with a minimal amount. At the same time, do take note that some features may be more tailored toward advanced traders.
Is Webull free like Robinhood?
Both Robinhood and Webull offer free trading activities for customers. Various trading activities can be conducted on each platform with a $0 transaction fee.
CFD is a contract between an investor/trader and seller that demonstrates that the trader will need to pay the price difference between the current value of the asset and its value at the time of contract to the seller.
Forex indicators are tools used by traders to analyze market data, often based on technical and/or fundamental factors, to make informed trading decisions.
Day trading involves buying and selling financial assets within the same trading day, with the goal of profiting from short-term price fluctuations, and positions are typically not held overnight.
Options trading is a financial derivative strategy that involves the buying and selling of options contracts, which give traders the right (but not the obligation) to buy or sell an underlying asset at a specified price, known as the strike price, before or on a predetermined expiration date. There are two main types of options: call options, which allow the holder to buy the underlying asset, and put options, which allow the holder to sell the underlying asset.
Ivan is a financial expert and analyst specializing in Forex, crypto, and stock trading. He prefers conservative trading strategies with low and medium risks, as well as medium-term and long-term investments. He has been working with financial markets for 8 years. Ivan prepares text materials for novice traders. He specializes in reviews and assessment of brokers, analyzing their reliability, trading conditions, and features.
Rinat Gismatullin is an entrepreneur and a business expert with 9 years of experience in trading. He focuses on long-term investing, but also uses intraday trading. He is a private consultant on investing in digital assets and personal finance. Rinat holds two degrees in Economy and Linguistics.
Mirjan Hipolito is a journalist and news editor at Traders Union. She is an expert crypto writer with five years of experience in the financial markets. Her specialties are daily market news, price predictions, and Initial Coin Offerings (ICO).
