Robinhood and Webull are two of the most popular investment apps in the US. They offer similar features, but they have their differences as well.
Here’s a closer look at each platform to help you decide which one is right for you.
Webull vs. Robinhood
What Are Webull vs. Robinhood
Webull is an open source web application that allows users to buy, sell and send bitcoin. Webull was created by the community in order to provide a simple, easy-to-use and secure way to buy and sell bitcoin.
Webull is different from Robinhood because it offers trading of cryptocurrencies, whereas Robinhood only offers trading of stocks.
The main difference between Webull and Robinhood is that Webull allows users to trade with any currency they want, while Robinhood only allows trading with USD.
Webull does not require any personal information like your name, address or social security number for verification purposes. You can choose to use your email address or username as your password when signing up for an account on Webull.
Webull vs. Robinhood: An Overview
Robinhood is an online broker with no trading fees that lets users buy and sell stocks, options, ETFs, and cryptocurrencies without paying any commission fees or account minimums.
The company has more than four million users and over $100 billion in transaction volume since its launch in 2013.
Webull is another free stock trading app that offers commission-free trades on stocks and ETFs but charges $2 per trade for options and mutual funds and 3% per trade when selling short or buying on margin (like margin accounts).
The platform offers access to more than 7,000 U.S.-listed companies, including many small-cap stocks that aren’t available on Robinhood.
Robinhood
Robinhood is one of the most popular brokerages in the United States. It has a reputation for being the “cheap” broker, but what are the differences between Robinhood and its competitor Webull?
Robinhood was launched in 2013 by Vlad Tenev and Baiju Bhatt, who were formerly co-founders at hedge fund Old Lane Partners LP. The company’s mission was to democratize trading by making it available to everyone, regardless of their income level or experience level in trading.
The founders believed that lower fees would encourage more people to get involved with investing and hopefully lead to better returns over time — especially if they took advantage of tax-free accounts like Roth IRAs or SEP IRAs.
Robinhood has commission-free investing, and tools to help shape your financial future. Sign up and get your first stock free.
Webull is a new online discount brokerage that has recently gained popularity. The company was founded by ex-Google employees, and it offers an array of innovative features.
Webull was founded by former Google employees in 2017 as a competitor to Robinhood; it is also an app-based trading platform but with lower fees than its competitor and more advanced features such as real-time streaming quotes and instant order execution at the market price (instant execution).
Webull is narrowly focused on doing one thing well: Offering a mobile brokerage app that makes stock trading, buying cryptocurrency and options trading easy for new investors.
Webull vs Robinhood: The Differences
The first thing you need to know about Webull vs Robinhood is that both of these companies are based in Palo Alto, California. This may seem like a small detail but it’s actually quite important because it means that both companies have access to the same technology and resources when it comes to building their products or improving them over time.
When it comes to fees, there are some differences between the two apps. For example, while Robinhood offers zero commission trading on stocks and ETFs (Exchange Traded Funds), they do charge a fee when you buy or sell options contracts through them.
On top of that, they also charge an account maintenance fee of $10 per month if your account balance falls below $2,000 at any point during the month (this fee can be waived if
Commission Free Trading
Robinhood is a commission-free trading app that focuses on stocks, options, and ETFs. Webull is a commission-free trading app that focuses on stocks, options, and ETFs. Both Robinhood and Webull offer commission-free trading on the same types of securities. The two brokerages also have similar features such as virtual trading, but they each have unique features that set them apart.
Robo-Advisors
In addition to offering free trades, both Robinhood and Webull offer robo-advisor services through their mobile apps. Robo-advisors are automated portfolio management solutions that use algorithms to determine how much you should invest in different assets based on your age, goals, risk tolerance and other factors.
Using robo-advisors can help you keep track of your investments and make smart decisions about where to invest your money.
Virtual Trading Platforms
Both Robinhood and Webull offer virtual trading platforms through their mobile apps so traders can practice with real money with no risk before taking the plunge into real-time trading for real money or larger amounts of capital at risk (i.e., margin).
Investing In Cryptocurrency With Robinhood
Robinhood is one of the most popular online brokers for trading stocks, ETFs and options. It doesn’t charge commissions on trades, and it has a nice mobile app.
However, there are other brokers that offer free trading with low minimum deposit requirements. Webull is one of them and it’s worth considering as an alternative to Robinhood.
Here’s how the two stack up:
Minimum Deposit:
Robinhood requires no minimum deposit when you open an account. The same applies to Webull.
Commission Fees
Robinhood charges $0 per transaction for stock trades, but you don’t get access to margin accounts or short selling until you’ve built up at least $1,000 in your account. Webull doesn’t charge commissions on any trades at all.
No Account Minimums or Limits
There are no account minimums or limits on any of the accounts offered by Webull (with the exception of IRA accounts). This makes it very easy for anyone to open an account with this platform and start trading today!
No Account Setup Fees
There are no fees associated with setting up an account with Webull — they don’t even charge you anything if you decide to close your account down after opening it!
Margin Accounts
Margin accounts can be a great tool for traders who want to leverage their accounts, but both Webull and Robinhood have different rules when it comes to margin trading. The two services have very similar features—they allow users to buy stocks with no commission, they offer free stock trades, and they have similar mobile apps—but there are some key differences between them.
What Is a Margin Account?
A margin account allows you to borrow money from your broker in order to buy additional shares. This increases the amount of money you can put into the market, which can increase your profits if the price of an asset rises (or fall if it falls).
Webull offers two types of margin accounts: a regular margin account and an advanced margin account (AMM). AMMs allow users to borrow up to six times as much money than they have deposited into their account as collateral (up to $25 million).
A regular account allows you to borrow up to three times as much (up to $15 million). The minimum deposit requirement for both types of accounts is $5,000.
Cash management options
Robinhood offers a wide range of cash management options, including bank transfers and ACH payments. The brokerage also offers a debit card that can be linked to your account and used for online or in-person purchases.
Webull does not offer any of these features because it’s not a full-service broker.
Cash management options at Webull include:
- Bank wire transfers: This is the most common method for transferring money from one bank account to another. It’s typically used for large transactions, but you can request smaller amounts as well.
- ACH payments: You can make an ACH payment from your bank account directly into your Webull account. However, this option is not available to everyone — only those who live in certain states can use it (see below).
- Debit card: Once you’ve verified your identity with Webull, you will be able to use your debit card to make purchases online or in person at merchants that accept Visa cards.
Robinhood And Webull Fees
Both Robinhood and Webull have ultra-low commissions of around 0.00%. This means that every time you make a trade on either platform, it will cost you nothing at all!
The only other fee that both platforms charge is a $50 annual fee if your account balance falls below $5,000 at any point during the year. This fee can be waived by signing up with an affiliate referral link or by referring others to use the platform (if you choose this route, we’ve got a special code that gives both of us $50 when you deposit $500).
Robinhood is one of the most popular online brokers today because it offers zero-commission stock trades. This makes it easy for investors with small accounts to get started without having to worry about paying commission fees on each trade.
Pros:
Free stock trades – If you’re just starting out with investing and don’t have much money to invest, this feature can be very useful because it allows you to make trades without having to worry about paying commission fees on every trade that’s made in your account.
Easy-to-use app – The Robinhood app is very user friendly and makes it easy for investors who want to make fast trades from their phone or tablet device while they’re on the go.
Robinhood Pros And Cons
Free Trades – Both platforms offer commission-free trades on U.S. listed stocks and ETFs. This means that you don’t have to pay anything extra when buying or selling an investment through your account on either platform.
Investment Options – You can invest in almost any publicly traded security online through either platform. The only difference between the two is that Robinhood does not offer options trading (although this may change soon).
Webull Pros And Cons
Pros:
Low fees – Webull charges just $0.005 per trade (plus any fees charged by exchanges). The average fee is 0.10%, which makes Webull’s fee one of the lowest available among brokers offering commission-free trading platforms like Robinhood or Zecco.
Mobile app – Webull’s mobile app lets you trade on the go using your phone or tablet device with no additional fees charged on top of exchange rates. It has all of the same features as its desktop version including real-time charts, news feeds and alerts for price changes or market conditions that could affect your positions.
You can also place trades from anywhere using only your phone number or email address as an identifier instead of logging in with a username and password every time you want to access your account.
Comparing Webull vs. Robinhood Side By Side
Webull and Robinhood are two of the most popular trading apps in the US. Both offer commission-free stock trading, but they have their differences. Let’s compare them side by side to see which is better.
Trading fees
The main difference between Webull and Robinhood is the price for trading stocks. While both have no commissions on stock trades, Webull charges a $1 fee for ETFs and mutual funds, whereas Robinhood doesn’t charge anything for these investments.
Minimum deposit amount
Both Webull and Robinhood have no minimum deposit requirements, so you can start trading with as little as $0. The catch is that both platforms don’t allow you to withdraw any money until you deposit more than $1,000.
Mobile app support
Webull has been around longer than Robinhood and it shows in its mobile app support. The company has an Android app available on Google Play Store, while Robinhood only supports iOS devices right now with no Android app available yet (although it’s supposed to be coming soon).
Account types
Robinhood offers three account types:
- Robinhood for iOS and Android lets you buy and sell stocks, ETFs, options, and cryptocurrencies. You can also track your portfolio, research companies, and get free market news.
- Robinhood Gold lets you buy or sell pre-market or after-hours stock trades, meaning you can buy a stock at 8 p.m., but sell it before the market opens at 9 a.m. The fee for this service is $6 per month or $60 per year.
- Robinhood Crypto is a crypto wallet that lets you store crypto assets such as bitcoin (BTC) and ether (ETH). It also allows you to send and receive money in cryptocurrency without any fees or minimums (but there is a limit of $200 per day).
Investment choices
Both Webull and Robinhood offer access to a large variety of investment options. Webull offers access to over 12,000 stocks and ETFs while Robinhood offers access to over 5,000 stocks and ETFs.
This gives both platforms an edge over other services like Coinbase or Coinmama which only offer limited investment options.
Trading Fees
One of the biggest differences between these two platforms is their trading fees. While Webull does not charge any fees for placing trades, Robinhood charges 3% on all trades (both buys and sells).
This means that if you buy $100 worth of Bitcoin with Webull, you will pay no fees but if you buy $100 worth of Bitcoin with Robinhood, you will pay $3 for that trade!
Webull vs. Robinhood: Which Is Better For Investors?
It’s important to note that while both platforms are great options for investors, they each have their own pros and cons. Below, we will take a look at some of the most important factors to consider when deciding between these two platforms:
- Cost of Trading
- Platforms Available (Mobile Apps, Desktop)
- Minimum Deposit Requirements
- Customer Service & Support
- A Comprehensive Range Of Investment Options
Webull vs Robinhood – Wrap Up
Wrapping up now, here are the pros and cons of Webull and Robinhood;
Webull has no minimum investment requirement, but it does require a lot of work on the part of the investor.
The platform does not have any automated trading features and requires manual trading, which is time-consuming for investors who are not experienced in trading.
Robinhood has a $0 minimum investment requirement, which makes it easier for new investors to start investing with the platform.
This makes it an attractive option for beginner traders who want to invest in stocks without having to invest too much money at once.
It also helps that Robinhood offers free stock trading through its app or website with no fees attached.
Webull has no fees associated with buying or selling stocks on their platform, but they do charge a fee for each trade executed on their platform by users (usually around 2%).
Robinhood charges no fees when you buy or sell stocks through the website or app (there’s a small commission fee when you sell your shares).
