Quick Highlights
- Both Robinhood and Webull grant commission-free trades on stocks and ETFs.
- No minimum deposit is needed to open accounts at either platform, but neither supports mutual funds, bonds, or forex trading.
- Webull shines for traders craving in-depth charting and simulated (paper) trading experiences, while Robinhood appeals to savvy investors seeking cheaper options fees and margin trading perks.
Millions flock to both Robinhood and Webull, two heavyweight apps in the investing arena, prized for their lightning-fast stock, options, and cryptocurrency transactions combined with easy portfolio tracking.
Webull stands shoulder to shoulder with Robinhood, often outperforming it in key aspects. It boasts an arsenal of handy charts, retirement plan offerings, supports fractional shares, and—like Robinhood—keeps commissions at zero.
Our Perspective
Deciding whether Robinhood or Webull fits your investing style hinges on much more than surface features; it’s about pinpointing which specific tools and capabilities align with your trading habits. Below, we dissect their core attributes side-by-side for a clearer picture.
| Stocks & ETF Commissions | $0 | $0 |
| Options Commissions | $0 per contract | $0 per contract + small regulatory fees |
| Account Minimum | $0 | $0 |
| Tradable Securities | Stocks, ETFs, options, cryptocurrency | Stocks, ETFs, options, cryptocurrency, futures, Treasuries |
| Account Transfer Fee | $100 | $75 |
| Mutual Funds (No Transaction Fee) | Not available | Not available |
| Account Types | Individual taxable, IRAs (traditional, Roth, rollover) | Individual taxable, IRAs (traditional, Roth, rollover) |
| Mobile App Availability | Apple App Store & Google Play | Apple App Store & Google Play |
| Fractional Shares | Purchases & dividend reinvestment | Purchases & dividend reinvestment |
| Customer Support | Email, phone, 24/7 live chat | Phone, email, in-app chat |
Fee Structures
When it boils down to fees, Webull holds a slight edge thanks to generally lower account fees combined with transparent crypto trading disclosures. However, if options trading is your playground, Robinhood might emerge as the preferred contender.
Robinhood pioneered the free-trade revolution, slashing costs for stocks, ETFs, and options, then tossed crypto trading into the ring. Webull has since entered the fray, mimicking these commission-free perks with its own spin.
Options trading: These days, commission-free stock and ETF trades are commonplace, but what really sets Robinhood and Webull apart is their zero-commission options trading — a rare gem when most brokers still charge around $0.65 per contract. Yet, beware: costs sneak in via bid-ask spreads, subtly baked into trade prices much like in forex markets.
Webull scores points for openly revealing its spread markup — pegged at 100 basis points (1% of trade value). Meanwhile, Robinhood remains mum on its spread fees but shares it pockets roughly $0.85 in rebates per $100 of crypto volume. Keep in mind, Webull recently spun off its crypto dealings into a standalone app named Webull Pay.
Neither platform imposes pesky inactivity or ongoing maintenance fees, though both tack on transfer-out charges ($100 for Robinhood, $75 for Webull).
Range of Tradable Assets
When it comes to tradable securities, the playing field is fairly level — Robinhood and Webull cover the staples but don’t stretch into more obscure asset classes found elsewhere.
This streamlined offering could be a drawback for traders eyeing sector diversity beyond stocks, ETFs, options, and crypto. Yet for most aiming to build long-term wealth, this more focused toolbox will suffice.
One notable omission on both fronts: mutual funds are absent, which might not be a deal breaker if your game plan centers on short-term gains. Those craving mutual fund exposure may need to look elsewhere.
Both platforms support IRAs (traditional, Roth, rollover), with matching contributions offered under certain plans.
Robinhood’s IRA match: Offers either a 1% or 3% annual match based on your Robinhood Gold membership status — a premium tier costing $5 monthly or $50 annually. For users under 50, this translates to an added $70 (without Gold) or $210 (with Gold) per year.
On the fractional shares front, Webull permits investments as low as $5, with dividend reinvestment kicking off at $1 and shares divisible down to a tiny 0.00001 portion.
Customer Service Experience
Customer support options tie Robinhood and Webull in a close race.
Robinhood serves up 24/7 live chat, phone support 7 a.m. to 9 p.m. ET, email assistance, plus a sometimes-helpful FAQ section.
Webull counters with phone, email, and in-app chat, rounded out by a robust online help center for quick answers.
Neither platform offers physical offices for face-to-face help — all support happens digitally or by phone.
Additional Considerations
- Instant Funding: Both facilitate instant account funding, letting you start trading with an advance of up to $1,000 while your bank transfer clears.
- Interest on Idle Cash: Premium subscribers earn competitive interest rates on uninvested funds.
- Research & Tools: Webull delivers a decent batch of charting utilities and more than thirty technical indicators, alongside a virtual trading simulator stocked with $1 million in play money to sharpen your skills. Robinhood has recently caught up with enhanced charting and useful screening tools to spot stock movers hitting key benchmarks.
- Margin Trading: Robinhood offers cheaper margin rates for average users, starting at 5.75%, versus Webull’s 8.74%, though premium tiers from both brokers provide discounted rates. Robinhood Gold includes the first $1,000 of margin with your subscription, while Webull Premium begins at 5.95% with a sliding scale thereafter.
Ultimately, Robinhood and Webull battle neck-and-neck across numerous dimensions, making neither a clear-cut champion. Both are user-friendly platforms ready to serve casual and serious traders alike, meaning your final pick will rest on which unique features resonate most with your investment style. If slick visuals and paper trading get you fired up, Webull may win your heart. But if trimming options and margin costs matters most, Robinhood could be your go-to choice.
