Webull vs Robinhood - Which Free Broker Is Better For You?

Share this:
Editorial Note: While we adhere to strict Editorial Integrity, this post may contain references to products from our partners. Here's an explanation for How We Make Money. None of the data and information on this webpage constitutes investment advice according to our Disclaimer.

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.

Webull Vs. Robinhood: Ranking

Feature Webull Robinhood

Overall

4.4

4.1

Regulation

5.0

5.0

Fees

4.9

4.9

Trading Assets

3.6

3.6

Investment Instruments

3.8

3.8

Platforms and Charting Tools

4.0

2.3

Margin Rates

2.8

4.7

Deposit and Withdrawal

2.0

2.5

Research

4.0

3.7

Education

2.5

1.5

Support

4.1

2.9

Webull VS Robinhood: Overall Score

First place
4.4
7
4.1

Webull Vs. Robinhood: A Brief Introduction

Webull Robinhood

Overall Pros

Regulated by SEC, FINRA

Regulated by SEC, FINRA

Low Min. Deposit

10 000+ Trading Instruments

10 000+ Trading Instruments

3 Types of Trading Accounts

No Fees

No Fees

IRA Account

Low Margin Rates

Tools for Technical Analysis

IRA Account

Good Research

Paper Trading (Demo Account) Available

24/7 Support

Overall Cons

High Margin Rates

No Investment Tools

Limited education

No Demo Account

Limited Research

Limited Education

No 24/7 Support

Webull Vs. Robinhood: Regulation

Regulated By: Webull Robinhood

SEC

Yes

Yes

FINRA

Yes

Yes

SIPC Protection

max. $500 000

max. $500 000

Other Regulators

No

No

Robinhood Vs. Webull: Trading Conditions

Trading Conditions Webull Robinhood

Minimum Deposit

$0

$0

Trading Platforms

Webull

Robinhood

Leverage

max. 1:4

max. 1:2

Number of Trading Instruments

10 000+

10 000+

Number of Trading Accounts

1

3

Base Account Currencies

USD

USD

Webull Vs. Robinhood: Trading Assets

Asset Name Webull Robinhood

Forex

No

No

Stocks

Yes

Yes

Crypto

Yes

Yes

Indexes

Yes

Yes

ETF

Yes

Yes

Commodities

No

No

Bonds

No

No

CFD

No

No

Options

Yes

Yes

Webull Or Robinhood: The Best Fees

Trading Fees

Fee Name Webull Robinhood

Stocks Trading

0%

0%

ETF Trading

0%

0%

Options Trading

0%

0%

Crypto Trading

0%

0%

Non-Trading Fees

Fee Name Webull Robinhood

Account Fee

0%

0%

Deposit Fee

0%

0%

Withdrawal Fee

0%

0%

Inactivity Fee

No

No

Full/Partial Transfer Fee.

75 USD

75 USD

Webull Vs. Robinhood: Margin Rates

Feature Webull Robinhood

Under $25 000

6.99%

2.50%

From $25,000 to $100 000

6.49%

2.50%

From $100 000 to $250 000

5.99%

2.50%

From $250 000 to $500 000

5.49%

2.50%

Above $500 000

4.99%

2.50%

Webull Or Robinhood: Passive Income Tools

Investment Tools Name Webull Robinhood

Managed Accounts

No

No

Trading Bots

No

No

MAM/PAMM

No

No

Copy Trading

No

No

IRA

Yes

Yes

Webull or Robinhood - Trading Platforms

Webull Robinhood

Web

Yes

Yes

Desktop

Yes

No

Mobile (Android, iOS)

Yes

Yes

Features Of Trading Platforms

Webull Robinhood

2-factor authentication

Yes

Yes

Search Bar

Yes

Yes

Filters

Yes

Yes

Technical Analysis/Charting Tools

Webull Robinhood

Indicators

47

5

Drawing Tools

14

0

Historical Trades

Yes

No

Live 2 Quotes

Yes

No

Mobile Trading

Features Webull Robinhood

iOS Version

Yes

Yes

Android Version

Yes

Yes

Apple Watch App

No

Yes

Touch ID

Yes

Yes

Face ID

Yes

Yes

Types of Orders

Webull Robinhood

Market

Yes

Yes

Limit

Yes

Yes

Stop Loss

Yes

Yes

Stop Limit

Yes

Yes

Trailing Stop

Yes

Yes

Robinhood Vs. Webull: Deposit And Withdrawal

Deposit and Withdrawal Method Webull Robinhood

Bank Transfer

Yes

Yes

Credit/Debit Card

No

Yes (Debit Card)

Electronic Wallets

No

No

Crypto

No

No

Robinhood Vs. Webull: Research

Research Type Webull Robinhood

News Feed

Yes

Yes

Fundamental Data

Good

Limited

Chart Analysis

Good

Limited

Trading Ideas

Yes

Yes

Stocks Screener

Yes

No

Webull Vs. Robinhood: Education

Education Type Webull Robinhood

Demo-account/Paper Trading

Yes

No

Educational Articles

Yes

Yes

Educational Videos

No

No

Educational Webinars

No

No

Educational Books

No

No

Webull Vs. Robinhood: Support

Support Features Webull Robinhood

Working Days

24/7

24/5

E-mail

Yes

Yes

Phone

Yes

No

Online chat

Yes

No

Other

Support Center in Account

No

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.

Top 5 Reviews on Webull

  • Webull

    SamuelNup

    12.12.2022

    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.

  • Webull

    ekokurnianto

    18.01.2022

    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.

  • Webull

    edisaja

    06.05.2021

    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.

  • Webull

    rona

    10.04.2021

    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 Robinhood

  • Robinhood

    WallaceJag

    08.02.2023

    Comment

    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.

  • Robinhood

    ceceliaac60

    31.01.2023

    Comment

    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!

  • Robinhood

    AruchieMn

    14.12.2022

    Comment

    The website of the company seemed uninformative to me. It seems that the company is completely raw. Many underlying assets are offered, but no specific examples. Compared to any other stock broker, there is no desire to open a new account here.

  • Robinhood

    DanielBaig

    06.08.2022

    Comment

    Fraudsters. They didn't withdraw my money! They simply fraudulently lure out funds, promise good earnings, but in fact do not withdraw it. Nothing can be proven!

  • Robinhood

    Herbertmob

    11.05.2022

    Comment

    I do not recommend trading here. because I think Robinhood is dishonest. While trading, I noticed more than once incorrect quotes, intentional failures, and so on. Profit with such trading is difficult to get.

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.

Team that worked on the article

Ivan Andriyenko
Author at Traders Union

Ivan Andriyenko is a financial expert and analyst. He specializes in trading in the Forex, stock and cryptocurrency markets. His preferred trading style is conservative strategies with low or medium risk, medium and long-term investments. He has 7 years of experience in the financial markets. Ivan is involved in preparation of articles for novice traders, and also of the reviews and evaluation of brokers, analyzing their reliability, trading conditions and peculiarities.

Ivan continuously tests new strategies for various assets, choosing the most effective options. In addition, he believes that helping novice traders is an important aspect of work. He shares information that beginners require – educational materials, strategies.

Ivan’s motto: continuous studying and experimentation lead to success.

Rinat Gismatullin
Author and business expert

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.

Gismatullin has been an author at Traders Union since 2019. His focus is creation of detailed reviews of brokerage companies and cryptocurrency exchanges, as well as analytical and educational articles on finance.

Rinat’s motto: Always be open to new experiments. By overcoming the hardships you will reach the stars that open to those who seek.

Mirjan Hipolito
Cryptocurrency and stock expert

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). Mirjan is a cryptocurrency and stock trader. This deep understanding of the finance sector allows her to create informative and engaging content that helps readers easily navigate the complexities of the crypto world.