Overview of Firstrade and Webull
If your priority is trading with the lowest possible commissions, then Webull and Firstrade should be your top choices. These brokers not only offer very low fees but also provide a range of additional features that make them excellent value propositions. In this article, we will assess and compare these two brokers to determine if one outperforms the other.
Comparison Table
Range of Offerings
Webullcurrently offers a selection of exchange-traded funds (ETFs), options, bonds, futures, cryptocurrencies, and
stocks. It does not provide trading in any other types of investments. Additionally, Webull places
stocks below $1 in price or $10 million in market capitalization on a restricted list. The broker
does offer a robo-advisor services.
Unlike the competitor, Firstrade offers mutual funds but looses futures and cryptocurrencies.
Desktop Trading
Webull’s website is pretty spartan. The site only provides market news, security profiles with simple charting, and account management tools. There is no trade capability, although this oversight is solved with a browser platform. Launched from within the site, the software is very good. Highlights include:
- Full-screen charting with many tools
- Multiple trade tickets with advanced order features
- Watchlists
- Simulated trading
- Market details
- Stock screener
Account management and trading of securities can be conducted on Firstrade's website. The platform
features a robust trade bar at the bottom of the window, enabling order submission for stocks, ETFs, and options. The trade bar can be minimized or expanded to display additional information.
In expanded mode, the trade bar offers multiple order types and expiration dates. Option chains can be accessed, and a small chart with multiple timeframes is available alongside news articles and Morningstar ratings.
Firstrade's website also provides trade ticket functionality for bonds and mutual funds, which we found easy to use. Other notable tools on the website include customizable alerts based on various criteria, a streaming watchlist displaying real-time stock quotes (with a 20-minute delay for indexes), and charting capabilities borrowed from Morningstar. The charting tools offer drawing tools, company events, technical indicators, comparisons, and the ability to expand graphs dating back to 1972.
Additionally, Firstrade's website impressed us with its account management section, which includes applications and forms, tax information, a document upload feature, and the option to electronically transfer an account to Firstrade.
In terms of desktop trading, Firstrade provides a more comprehensive set of features and tools compared to Webull.
Mobile Apps
Webull offers a powerful mobile app with impressive tools. The charting program on the app stands out, offering ten technical indicators, various graph styles, horizontal display, and the ability to add stocks or indexes for comparison. Extended hours trading and company events can also be accessed on the app.
In comparison, Firstrade's mobile app does not offer simulated trading but features a solid charting program with approximately 20 technical studies. However, the app lacks the ability to display company events and rotate graphs horizontally. The order ticket on Firstrade's app is similar to Webull's, offering the same features, but Firstrade has the additional advantage of enabling trading of option contracts.
Promotions
Webull:
Grab your last chance to get up to 40 free stocks when you deposit at Webull!
Firstrade: Up to $250 ACAT rebate and $0 commission trades.
Customer Service
Webull customers can contact the broker via email, and a phone number is posted on its website and mobile app.
The mobile platform does provide an internal email system. Webull has a single brick-and-mortar office located in New York.
Firstrade is offering phone service during weekdays. Additionally, Firstrade provides an online chat function on its website, which has proven to be helpful. The broker has also introduced a chatbot named Sammi that can answer basic queries. Firstrade hosts a customer service session on Saturdays at its headquarters in Flushing, New York.
Investment Education and Research
Both brokers provide good investment research tools. Although Webull offers limited resources on its website, its mobile platform compensates by providing many useful features. Users can access information on international indexes and stocks, view equity profile pages with analyst ratings (some stocks have over 40 ratings), financial reports, and the latest news. Notably, the app includes figures from a stock's financial statements in bar chart format.
While Firstrade's mobile app lacks extensive resources, its website offers a wealth of helpful information. The broker incorporates data from Morningstar, displaying information typically found on the Morningstar website. Firstrade's website also hosts an Education Center, featuring articles on ETFs, options, stocks, mutual funds, and bonds.
In terms of investment education and research, both brokers offer valuable tools, with Webull excelling on its mobile platform and Firstrade providing comprehensive resources on its website.
Recommendation
For bond or mutual fund traders, we obviously recommend Firstrade for reasons already mentioned.
Mobile traders will do better at Webull. Its app has more features and research materials than
Firstrade’s does.
For beginners, Webull has a simulated trading while Firstrade does not.
Stock and ETF traders should give Webull a try because of advanced trading platform and lower margin
rates.
Firstrade vs Webull Summary
Firstrade and Webull are competitive in many areas. While Firstrade hardly adds anything new to
its offerings, Webull is growing by leaps and bounds. Use this article to pick the
right firm for your trading needs.
Updated on 1/1/2025.
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