Webull is a mobile-first discount brokerage regulated by SEC and FINRA. Webull provides commission-free US stock, ETF, and options trading with no inactivity fees.
Webull focuses solely on providing new investors with a mobile brokerage app that makes trading stocks, options, and cryptocurrencies simple.
Webull is a more than capable choice for on-the-go investors to trade at low costs, even though it doesn’t draw as much notice as Robinhood.
- Free stock, ETF and options trading
- Easy-to-use trading apps with an excellent user interface
- No account minimums or platform fees
- No mutual funds, bonds, futures or forex (foreign exchange) trading
- Limited account types
- No live chat, poor phone support
How It’s Compared
Webull vs. Robinhood
Webull competes directly with Robinhood on $0 commissions trading for stocks, ETFs, and options. Robinhood users can elect to join cash sweep program for free and earn 1.5% interest on uninvested cash. If you have more than $2,400 uninvested with Robinhood, you may consider pay $5/mo to join Robinhood Gold, as Robinhood Gold enables users to earn 4.00% annual percentage yield (APY) on uninvested cash and the interest pays the membership fee once your balance goes above $2,400.
Unlike Robinhood charges margin investing 11% interest (7% with Robinhood Gold), Webull doesn’t require a subscription to give users access to some of the most competitive margin rates on the market. And Webull offers more features than Robinhood, including things like IRAs (Individual Retirement Accounts), watch lists, alerts, screeners, paper trading and advanced charting options.
Webull vs. Schwab/Fidelity
Webull does not charge per contract fees for options trading whereas Charles Schwab and Fidelity do charge for such trading. Webull can’t compete with the vast amount of trading tools, research, and education provided by traditional full-service brokers such as Charles Schwab and Fidelity.
Webull’s fee schedule is very alluring. US equities, ETFs, and options trading are all commission-free. Opening an account is quick, simple, and entirely digital. Investors who are comfortable conducting their business completely through a mobile app can go ahead and try Webull. The app is beautifully made and a delight to use.
The drawback is that calling customer service can be challenging. Webull doesn’t allow customers to open joint brokerage accounts. It also doesn’t support trusts, UGMA/UTMA accounts, Coverdells, SIMPLE IRAs, SEP IRAs, Solo 401(k)s, and several other account types offered by competitors.