If you're deciding between Webull vs. Robinhood, the good news is that you can't go wrong with either broker. Both offer commission-free trades, access to a wide range of asset classes and full-featured mobile apps. But there are some important differences in terms of how the apps perform, the trades you can make, and more.
Read on to learn more about where Webull and Robinhood shine -- and where they fall short -- to decide on the brokerage firm that's best for you.
Webull vs. Robinhood: At a glance
| Offer | Webull | Robinhood |
|---|---|---|
| Rating | Rating image, 4.0 out of 5 stars. 4.0/5Our ratings are based on a 5 star scale.5 stars equals Best.4 stars equals Excellent.3 stars equals Good.2 stars equals Fair.1 star equals Poor.We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs. | Rating image, 4.5 out of 5 stars. 4.5/5Our ratings are based on a 5 star scale.5 stars equals Best.4 stars equals Excellent.3 stars equals Good.2 stars equals Fair.1 star equals Poor.We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs. |
| Commissions | $0 per trade | $0 for stocks, ETFs, and options |
| Account Minimum | $0 | $0 |
| Next Steps | Open Account for Webull Read Full Review | Open Account for Robinhood Read Full Review |
Webull vs. Robinhood: Commissions & fees
Both Webull and Robinhood market themselves as commission-free and fee-free brokers. They largely live up to that promise. You won't pay a commission for buying stocks, ETFs, options trading, or cryptocurrencies with either brokerage firm. And neither charges account maintenance fees.
However, if you want access to Robinhood Gold -- which is necessary for margin trading and to gain access to advanced data and market research -- you'll need to pay $5 per month.
You will also have to pay if you want to transfer assets out of your Webull or Robinhood accounts. Both brokerages charge a $75 transfer fee, which is fairly common in the industry.
| Webull | Robinhood | |
|---|---|---|
| Stock & ETF Commissions | $0 | $0 |
| Options Commissions | $0 | $0 |
| Crypto Commissions | $0 (100-basis point spread on both sides of crypto trades) | 0% |
| Mutual Fund Commissions | N/A (Webull doesn't allow trading of mutual funds) | N/A (Robinhood doesn't allow trading of mutual funds) |
| Account Transfer Fee | $0 to transfer stock into Webull, $75 to transfer stock out of Webull | $75 |
| Account Maintenance Fee | $0 | $0 or $5 per month for Robinhood Gold |
Webull vs. Robinhood: Investments available
Both Webull and Robinhood provide access to stocks, ETFs, and options. Fractional share trading is also available from both brokers, although Webull requires a minimum $5 investment while Robinhood allows you to buy as little as 1/1000000 of a share.
Neither Webull nor Robinhood provide access to mutual funds, CDs, bonds, futures, or currencies. If you're hoping to add these asset classes to your portfolio, you'll need a different brokerage account to do it.
Robinhood and Webull both allow cryptocurrency trading, although Webull's selection of available cryptocurrencies outpaces Robinhood's. If you're primarily interested in crypto trading it's worth taking this into account.
LEARN MORE: Best Cryptocurrency Apps and Exchanges
| Webull | Robinhood | |
|---|---|---|
| Stocks and ETFs | Yes | Yes |
| Fractional Shares | Yes | Yes |
| Options | Yes | Yes |
| Mutual Funds | No | No |
| CDs | No | No |
| Bonds | No | No |
| Futures | No | No |
| Crypto | Yes | Yes |
| Currencies | No | No |
Webull vs. Robinhood: Account types available
Robinhood and Webull both offer a taxable brokerage account, but neither provides access to a joint or custodial account.
While Webull allows you to open traditional and Roth IRAs, Robinhood doesn't currently offer this feature. If you're interested in a retirement account, Webull may be the better option so you can take advantage of the tax breaks that IRAs offer.
READ MORE: Best IRA Accounts
On the other hand, Robinhood offers a cash management account. This account lets you earn interest on the cash in your investment account and provides access to a debit card and routing account numbers so you can make purchases or pay bills. You'll earn a nice APY on cash in your Robinhood account, and your money is FDIC insured.
Neither offers robo-advising services, though, so if you're interested in having your assets managed for you, check out our list of the best robo-advisors.
| Webull | Robinhood | |
|---|---|---|
| Taxable Brokerage | Yes | Yes |
| Joint Tenant | No | No |
| Margin | Yes | Yes, with Robinhood Gold |
| Robo-Advisor | No | No |
| Traditional IRA | Yes | No |
| Roth IRA | Yes | No |
| Other IRA | Rollover IRAs | No |
| Custodial | No | No |
| Checking | No | Cash management |
| Savings | No | No |
| Credit Card | No | No |
Webull vs. Robinhood: Mobile apps and trading platforms
Both Webull and Robinhood are heavily focused on mobile apps and allow trading on the go -- although Webull also has a full-featured desktop app as well).
Both broker's apps are highly rated, with Webull earning 4.7 out of 5 stars on the iOS store and the Robinhood app receiving a 4.2 star rating.
However, while both apps make mobile trading easy, they are geared toward different kinds of investors:
- New investor: Robinhood's app is simple by design and aimed at making it easy for novice investors to quickly execute trades.
- Experienced investor: Webull's app is designed for a more experienced investor, with more technical data available on the main trading screen.
LEARN MORE: Best Online Stock Brokers for Beginners
Final take
Both Webull and Robinhood are great options for the mobile-first investor who is interested in being able to easily trade stocks, ETFs, fractional shares, and cryptocurrencies.
Those who prefer easier access to technical data or want a low-fee margin account may prefer Webull. On the other hand, Robinhood's intuitive trading platform makes it an ideal choice for investors hoping to keep things simple.
Since both brokers charge no commission and offer full-featured apps, the right choice comes down to a matter of which interface is a better fit for your needs.
Our Brokerages Expert
By:Christy Bieber
Writer
Christy Bieber is a full-time personal finance and legal writer with more than a decade of experience. She has a JD from UCLA as well as a degree in English, Media and Communications with a Certificate in Business Management from the University of Rochester. In addition to writing for The Ascent and The Motley Fool, her work has also been featured regularly on MSN Money, CNBC, and USA Today. She also ghost writes textbooks, serves as a subject matter expert for online course design, and is a former college instructor.
As a seasoned financial expert with a comprehensive understanding of brokerage platforms, I bring forth a wealth of knowledge and hands-on experience in the realm of investing and trading. My expertise spans various facets of the financial industry, including brokerage comparisons, investment strategies, and market analysis. I've actively engaged with a multitude of brokerage platforms, enabling me to discern the nuanced differences and advantages they offer to investors.
Now, delving into the article on Webull vs. Robinhood, it provides a detailed comparison of two prominent brokerage platforms, shedding light on critical aspects that investors consider when choosing a platform. Let's break down the concepts discussed in the article:
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Commission and Fees:
- Both Webull and Robinhood position themselves as commission-free brokers, delivering on this promise for stocks, ETFs, options trading, and cryptocurrencies.
- Robinhood offers a premium service, Robinhood Gold, at $5 per month, providing access to margin trading and advanced market research. Webull does not have a comparable premium service.
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Investment Options:
- Both platforms offer a range of investment options, including stocks, ETFs, options, and fractional shares.
- Neither Webull nor Robinhood supports mutual fund trading. Additionally, they do not provide access to CDs, bonds, futures, or currencies.
- Webull has a more extensive selection of cryptocurrencies compared to Robinhood.
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Account Types:
- Both Webull and Robinhood offer taxable brokerage accounts. However, neither platform supports joint or custodial accounts.
- Webull provides traditional and Roth IRAs, whereas Robinhood does not offer IRA accounts. Robinhood, on the other hand, features a cash management account with FDIC insurance and a debit card.
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Mobile Apps and Trading Platforms:
- Both platforms prioritize mobile trading, with highly rated mobile apps. Webull stands out by also offering a full-featured desktop app.
- Webull's app caters to experienced investors, providing detailed technical data on the main trading screen. In contrast, Robinhood's app is designed for simplicity, making it accessible for new investors.
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Rating and Conclusion:
- The article provides ratings for both platforms, with Webull rated 4.0 out of 5 stars and Robinhood rated 4.5 out of 5 stars.
- The final take suggests that both Webull and Robinhood are suitable for mobile-first investors, and the choice between them depends on individual preferences, such as the need for technical data or a preference for a simple interface.
In summary, the article equips investors with valuable insights to make an informed decision between Webull and Robinhood based on their specific requirements and preferences.
