Webull vs. tastytrade Introduction
If you’re in the hunt for a discount broker with good software, you might want to consider Webull
and tastytrade. While they do have some similarities, there are also some important differences
between them. For example:
Comparison Table
Tradable Assets
tastytrade customers can buy and sell the following financial instruments:
- Equities
- Exchange-traded funds
- Closed-ended funds
- Futures, including bitcoin contracts
- Options, including index options and options on futures
- Cryptocurrencies
Webull offers the following securities:
- Stocks
- Options
- ETF’s
- Closed-end funds
- Bonds
- Cryptocurrencies
- Futures, including bitcoin contracts
- Cryptocurrencies
We Choose: Tie
Funds
tastytrade offers very little information on funds. Using its software, which we will look at in just a minute, we found liquidity ratings, trade data (such as volume and implied volatility), and alerts. Somewhat surprisingly, there is no fund screener at all. There are also no fund reports or fund commentary.
Webull doesn’t have a fund screener, either. It does offer news articles and fund details, such as:
- Inception date
- Fund manager
- Asset allocation
- Margin details, for both long and short positions
- Trade data, such as 52-week low and OHLC numbers
- Morningstar rating
- Order flow
We Choose: Webull
Stock Research
Moving from funds to stocks, we do find a screener at Webull. The tool is user-friendly and offers just five search criteria. While this number is somewhat disappointing, the software does produce results that can easily be sorted. Clicking on an entry populates an order ticket for quick trading.
Equity profiles at Webull provide many details, such as trade recommendations from financial analysts. During our research, we also found price targets on some stocks, a definite plus. Other highlights include:
- Time & sales data
- Order flow
- News articles
- Details from financial statements in graphical format
Moving on to tastytrade, we lose the screener. We do get multiple pre-installed watchlists and a few trade details, such as volume and liquidity. Missing are analysts’ trade recommendations, financial statements, and many of the resources available to Webull clients.
We Choose: Webull
Trading Software
When it’s time to place a trade, Webull customers can use a desktop application, which also functions as a browser system. With either configuration, the look and tools are the same.
Highlights include:
- Full-screen charting
- Order ticket with integrated bracket orders
- Simulated trading
- Margin details on long and short positions
- Multiple trade windows on a screen
At tastytrade, traders get the same setup: a browser platform and a desktop program. The two platforms
are very similar, although not exactly the same. Charting isn’t available in full-screen mode,
but tastytrade does provide more technical studies than Webull. Unfortunately, neither tastytrade
platform offers paper trading.
The tasty browser platform has a very good options trading system with multi-leg strategies. Webull’s software only offers calls and puts at this time.
We Choose: Draw
Mobile Apps
Both brokerage firms offer mobile apps. Webull customers once again get paper trading (with competitions among other traders). Likewise, tasty once again offers option spreads, which aren’t available on the Webull app.
Another notable highlight is a community forum on Webull’s app. This great feature isn’t available on tasty’s app, although it is possible to follow what trades tastytrade executives are making.
We Choose: Webull
Day Trading
Margin: Both firms offer margin accounts. We like Webull’s margin windows for long and short positions on every security profile.
Level II Quotes: Despite tastytrade’s emphasis on day trading, it doesn’t offer Level II quotes at any price. Webull customers can sign up for $1.99 per month.
Extended-Hours Trading: Both broker-dealers offer extended-hours trading. Webull has the longer session.
We Choose: Webull
Other Services
DRIP service: tastytrade provides dividend reinvesting at no charge, a great service that Webull clients don’t have.
IRAs: While both brokerage firms offer IRA’s, only tastytrade has the SEP version.
Fractional shares: Webull offers it.
We Choose: Tie
Our Recommendations
Stock and ETF Trading: Webull.
Beginners: Webull.
Long-Term Investors and Retirement Savers: Webull.
Small Accounts: Either.
Options trading: tasty.
Promotions
Webull:
Up to $7,500 bonus and 20 free stocks at Webull!
tastytrade:
Get $250 for each person you refer with this referral link.
Webull vs tastytrade Judgement
Looks like we have a pretty even match-up overall. Despite tastytrade’s emphasis on active trading,
we would choose Webull for day trading.
Free Tastytrade Account
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Free Webull Account
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Updated on 1/1/2025.
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