Webull vs. Robinhood: Which Online Broker Is Better for Your Needs?

Webull and Robinhood are among the most popular online stock trading platforms and investment apps. With them, you can trade stocks and ETFs, as well as other assets, without paying fees for the most part. Plus, they allow cryptocurrency trading. 

Views differ when it comes to what the best platform is, since it must be just right for a beginner, intermediate, or advanced trader. So, read Fortunly's Webull vs. Robinhood overview to figure out which platform caters to your needs. 

What Is Webull?

Webull is a financial company with its main office in New York. Offering reliable and efficient financial services since 2017, Webull aims to make it easier for investors to trade by leveraging technology. Webull is a member of the Securities Investor Protection Corporation, which ensures that its clients won’t lose cash and stocks or bonds if the brokerage firm experiences financial trouble.

What Is Robinhood?

A financial services company headquartered in California, Robinhood (Markets) is on a mission to make investing accessible to and affordable for ordinary people, just like the name implies. That’s why the co-founders have created an environment where traders can invest on their own terms and at their convenience.

Robinhood vs. Webull Head-to-Head

If you decide to join Americans who invest in stocks, both Webull and Robinhood have appealing offers for potential clients. You can also use either platform to trade in the ever-growing cryptocurrency market.

But what sets them apart, and which one should you choose? Let's take an in-depth look at the features and figures so as to make it easier for you to determine which one to opt for.

Available Securities

If you have a dilemma about choosing Webull or Robinhood as your trading platform, you should first consider the security you wish to trade in. In this regard, Webull has an advantage since it has more financial assets for you to choose from.

Webull supports trading in stocks, ETFs, over-the-counter securities, cryptos, and options. On the other hand, you can trade stocks, ETFs, American Depositary Receipts (ADRs), and options with Robinhood. 

In line with this, you'll need to find another solution if you wish to trade in mutual funds and some other financial assets. 

Rewards

You receive a welcome gift when you open a brokerage account on either platform. The difference between Robinhood and Webull in this regard is that the former grants you a certain amount in dollars while the latter gives you free stocks. 

Robinhood offers a cash value of between $5 and $200 for fractional share investing. Note that most beginner investors on this platform can count on a gift between $5 and $10. When you receive the money, you can pick stocks from 20 leading companies in the US and start investing.

With Webull, new investors get up to 12 free stocks. They also receive two free fractional shares once they open an account and between four and 10 upon depositing funds. The value of free fractional shares ranges between $300 and $3,000. 

Fees

When you compare Webull vs. Robinhood, you'll notice that neither trading platform charges commission fees. Still, other fees may apply. 

For example, both companies charge a sells-only regulatory transaction fee of $0.0000229. On the other hand, the annual margin trading rate with Webull is between 5.49% and 9.49%, depending on the amount, while Robinhood's standard margin rate is 10.5% for all margin traders.

Moreover, Fortunly's Webull vs. Robinhood comparison found that neither financial company charges fees for crypto trading. As such, you'll get the exact amount if you purchase $50, $200, or some other amount in any cryptocurrency. 

Crypto Trading

If you are thinking about trading in cryptocurrencies, Robinhood and Webull have various cryptos for you to choose from. While the former has 19 cryptos you can trade in, the latter has over 50. Plus, you can follow real-time market data for other cryptocurrencies with Robinhood. 

Trading Experience

When it comes to the overall trading experience, many seasoned active traders consider Webull better than Robinhood by far. Still, not all online traders share their opinion. 

Webull's platform has various helpful research tools, such as Watchlist, Stocks (comprising stock market live updates and charts), ETFs, and more. You'll easily find any information you need, whether you're on the platform's website or using its investing app. 

Robinhood offers a streamlined trading experience; however, it lacks many of the research tools that Webull has. Owing to such an uncomplicated approach, it’s easy for beginners to get used to trading on this platform.

All in all, the trading experience is where the major difference between these two platforms lies. Most new traders who are just learning the ropes and picking up tips on how to sell stocks prefer Robinhood, but experienced brokers will likely opt for Webull. 

Customer Service

Another key difference between Webull and Robinhood is customer support. 

Webull customer support agents are available during regular stock market hours (9:30 a.m. to 4 p.m. ET). The great thing about this broker is that it supports extended hours trading, with representatives available from 4 a.m. to 9:30 a.m. ET, and 4 p.m. to 8 p.m. ET. Plus, you can send them an email any time. 

On the other hand, Robinhood's customer service agents are available 24/7, and you can get in touch with them via the mobile app or through its website. 

Educational Resources

Both Webull and Robinhood have a large base of learning materials. So, if you need resources about options trading, cash management, dividend reinvestment, or more advanced trades, you’ll likely find what you need on each trading platform. 

Key Similarities Between Webull and Robinhood

Let's now summarize what we’ve learned about these two platforms. Below is a quick breakdown of Webull vs. Robinhood top similarities:

• Neither platform offers mutual funds trading.
• The sells-only regulatory transaction fee that both trading platforms charge is $0.0000229 ($22.9 per $1,000,000).
• Neither financial company charges commissions or has a mandatory deposit minimum.
• They don't have any cryptocurrency trading fees; in contrast, some other trading platforms charge up to 4%.
• Webull and Robinhood have extensive educational platforms where beginner and intermediate investors, as well as more advanced traders, can find helpful content.

Webull vs. Robinhood: Key Differences

Now, let's point out the main dissimilarities between these trading platforms:

• Webull features more research tools experienced traders like to use, whereas Robinhood offers a streamlined experience that newbies find more convenient.
• Regarding the number of financial assets you can trade in, Webull stands out since it offers trading in stocks, OTC securities, ETFs, options, and cryptocurrencies. On the other hand, the assets available to Robinhood traders are stocks, ADRs, options, and ETFs. 
• While Robinhood agents are available 24/7, Webull's customer service can be reached from 4 a.m. to 8 p.m. ET.
• Webull has over 50 cryptocurrencies for trading, including Bitcoin, Ethereum, and Dogecoin. Robinhood supports trading in just 19 cryptocurrencies, such as Bitcoin cash, Litecoin, and Ethereum Classic. 

So, Which Is Better - Webull or Robinhood?

In a nutshell, both companies offer brokerage services catering to various traders. While Webull is primarily focused on experienced traders, Robinhood mostly attracts new traders thanks to its ease of use. Neither platform charges commission fees, and both have appealing gifts for people who open new accounts. 

On the whole, you'll likely receive different answers if you ask seasoned and novice investors, "Is Webull better than Robinhood?" Still, our verdict is that Webull offers superior functionality that most online traders wish to see when choosing a trading platform.