If you’re looking to open an online trading account, you may have come across the names Webull and Robinhood. These two apps are essentially the same thing — trading stocks and other items without paying a commission or fee. However, there are a few differences that you should know about before choosing which application to go with.
Robinhood vs. Webull: Background
It’s easy to mistake Robinhood or Webull for their competitors, TD Ameritrade and Etrade. But these two apps are each very different in their own right. While they’re both low-cost and beginner-friendly, they have some major differences in how they operate that might sway you one way or another.
As your investing needs grow, you may find that one of these platforms better suits your needs than the other. We’ll go over those differences now so you can make an informed decision about which brokerage is best for your financial goals!
1. Ease of Use
Robinhood is a great option for beginners and people who don’t want to fuss with a bunch of features. You can easily buy and sell stocks, ETFs, options and cryptocurrencies on the Robinhood app.
Webull is best suited for more advanced users who want more complex tools like charts and research. Since Webull offers so many different services, it can be overwhelming to navigate at first.
2. Social Forum
Social Forum is one of the best features of Webull. On the social forum, users can ask questions about certain trades and comment on other comments. This makes it easy for you to communicate with other traders and mentors (if there are any). The social forum also allows you to see what other people are trading or have traded in the past. This is extremely helpful because it lets you know what stocks are popular at which time so that you can follow along with their trades if you want to do so!
3. Trading Options
Both Robinhood and Webull offer a wide range of trading options. Both provide the ability to trade stocks, ETFs (exchange traded funds) and options. With Webull, you can also trade cryptocurrencies.
Robinhood offers more advanced options for trading than Webull does in some cases. For example, if you’re looking to buy or sell stock at a certain price but not pay any fees on the trade itself, Robinhood allows this type of order while Webull does not currently support “market orders” like this one. On the other hand, webull offers more advanced features like shorting stocks (or borrowing them from someone else with an agreement that they will be returned later). Both platforms let you short shares as well as long shares — it just depends on how much risk tolerance you have when deciding what kind of order type works best for your needs!
4. Customer Service and Support
Both Robinhood and Webull offer a wide range of contact options for customer support. You can reach them by phone, email, live chat or even social media. Their standard hours are Monday through Friday from 8:30 a.m. until 6 p.m., but they also offer 24/7 emergency phone support if you have any urgent questions or concerns about your account.
Both brokerages have an extensive library of online resources for new investors as well—everything from FAQs to tutorials and user forums are available for each platform on their respective websites (you can find them here and here). In addition to this information, Webull has its own dedicated YouTube channel with videos that teach users how to use various features of the platform so that they know what they’re doing when they log in next time after reading through these materials!
5. Robinhood vs Webull: Fees, Commissions and Account Minimums
Both Robinhood and Webull have no minimum deposit requirement. Both apps also offer no commission fees for stock trades, so you won’t be charged anything when you buy shares of a company on either app. However, one of the apps will have a $0 commission for extended hours trading which means that if you place your order between 8AM and 7PM Eastern Time, it’ll cost nothing extra to trade during that time period. The other app has a $5 minimum for options trades while they’re live but if they expire worthless or are exercised beforehand, there’s no commission fee charged at all! Finally (and most importantly) one of these platforms offers a $0 minimum for options trades while their counterparts charge $5 per contract traded so let’s take a look at which one is better…
6. Research Tools Available on Robinhood vs Webull
Webull has more research tools than Robinhood.
- Bullboard: This is a forum where users can post and discuss stocks. It’s fairly active, with over 1,600 threads from the last 30 days.
- Market Data: This section provides financial data for a stock, including its price and daily volume (total shares traded). There are also links to news articles about the company or industry it operates in.
Robinhood and Webull are two popular investing apps that are accessible to beginners. Both services have many similarities when it comes to trading options and fees. It is the subtle differences that might make one service right for you over the other.
Robinhood offers a no-fee, commission-free way to invest in stocks and exchange-traded funds (ETFs) with a minimum $100 deposit on your account, as well as free access to cash via ACH transfers from your bank account or debit card. Robinhood also has some premium features like automatic dividend reinvestment that can be added for an additional fee per month ($7).
Webull’s main benefit is its $0 commission structure, which means you don’t pay anything extra when buying or selling stocks or ETFs through their app platform. However, there are some limitations to this approach: Webull doesn’t offer access to mutual funds or bonds; it only allows you buy individual stocks; there’s no paper trading mode—so newbies won’t be able to practice trades before committing real capital—and there isn’t any way for beginners who haven’t yet opened an account with Webull yet save money on commissions if they open an account later but want commission-free trades immediately without paying upfront fees first (as is possible with other brokers like TD Ameritrade).