Webull vs Robinhood - Which Free Broker Is Better For You?
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: Overall Score
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 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 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 |
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
-
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 Robinhood
-
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.
-
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!
-
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.
-
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!
-
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 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 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 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.