Compare Charles Schwab versus WeBull: IRA, commissions, investing fees, trading tools, account differences, pros and cons. Which online broker is better in 2019?

Overview of Charles Schwab and WeBull

Schwab and Webull offer good resources for active traders. But they do differ in important areas. This article will help you pick the right broker for your investment needs.

Broker Cost

Broker Fees Stock/ETF
Commission
Mutual Fund
Commission
Options
Commission
Maintenance
Fee
Annual IRA
Fee
WeBull $0 na na $0 $0
Charles Schwab $4.95 $76 ($0 to sell) $4.95 + $0.65 per contract $0 $0

Services

Broker Review Cost Investment Products Trading Tools Customer Service Research Overall Rating
WeBull
Charles Schwab

Promotions

WeBull: Get one FREE stock between $8 and $1000 when you deposit $100+ at WeBull.

Charles Schwab: Make $100,000 deposit and get 500 commission-free online equity and options trades.


Who Offers the Larger Selection of Investment Vehicles?

Webull clients can buy and sell ETF’s and stocks. Equities priced under $1 per share or with market caps under $10 million are restricted. Webull also doesn’t permit the trading of OTC stocks, although penny stocks on major US exchanges are on tap.

Schwab offers both penny and OTC equities in addition to regular stocks. The brokerage firm also provides access to options, futures, bitcoin futures, mutual funds, closed-end funds, and bonds.

Schwab easily takes the first category.

Who Has the Better Website?

Webull’s site is used for marketing. There is no customer login, which means there obviously is no trading capability. There is a helpful FAQ on the site that will answer questions that new clients may have.


Webull Trading Platform


The Schwab website offers much more. During our testing, we found a simple trade bar at the bottom of the screen that is capable of providing trade statistics, such as volume and bid and ask numbers. The bar can produce a pop-up chart with timeframes from 1 day to 5 years.

The trade bar can also produce a pop-up news window. It displays articles from Business Wire and other sources. One thing we didn’t like about the tool is that it can’t submit orders. Trades can only be placed on the broker’s website.


StreetSmart Edge


It’s easy to trade bonds at Schwab thanks to the broker’s user-friendly fixed-income chart with clickable yields, sorted by bond type and maturity. The tool shows the current price, the minimum order size, the estimated order total, the maturity date, and much more. Other securities have similar tools on Schwab’s site.

One final part of the site we should mention is the very good customer service section that permits clients to perform a great deal of functions on their own, such as setting up alerts, locking a debit or credit card, or downloading a form.

Schwab is the clear winner here.

And What About Mobile Trading?

Although Webull’s website is a disappointment, it does have a very good mobile app. We liked the platform’s charting capability. The software delivers several chart styles, up to 50 years of price history, and multiple technical indicators. Another plus is horizontal viewing.


Schwab vs WeBull


The order ticket incorporates stop, limit, and market choices. An order can be submitted for extended hours. A watchlist can be sorted by price, ticker symbol, or percent change. A community forum is a unique feature that is similar to Twitter. ACH transfers are possible, but there’s no check deposit.

On Schwab’s app, we did find mobile check deposit. There is no community forum, but there is bill pay, live streaming of CNBC, a Schwab market update (in audio format), and links to YouTube playlists of Schwab videos. Charting is decent, and there are more duration choices on the order ticket.


WeBull vs Schwab


We choose Schwab here.

Does Either Broker Have a Desktop Platform?

Webull and Schwab both have desktop software. Webull’s functions on both PC and Mac. It offers very advanced charting with ten technical indicators and 4 graph styles. A chart can be displayed the full width of the monitor. We liked the incorporation of a simulated trading mode. Unfortunately, more advanced features like direct-access routing and Level II quotes are missing.

Schwab’s platform does offer Level II quotes and direct-access routing. Charting has a lot of advanced features, including roughly 30 technical indicators. There is also a practice trading mode. Perhaps the best feature is live streaming of CNBC, something Webull doesn’t offer.

Schwab wins again.

Is DRIP Service Available?

Schwab offers a free Dividend Reinvestment Program. Webull offers no type of dividend reinvestment, and so loses another category.

Who Has Better Research Tools?

The Webull website has no resources for security research. The site is used for advertising only. We did find a lot of useful materials on its desktop platform and mobile app. There are news articles, stock ratings (although pdf reports aren’t posted), amount of short interest, press releases, and fund weightings.

Webull’s platforms also display information from a stock’s financial statements. This data is presented in both graphical and numerical formats. Graphs show information from a stock’s balance sheet and cash flow statement.

Schwab’s website and trading platforms present a great deal of information. Stock profiles offer not just information from financial statements, but also third-party stock reports. For IBM, we found pdf reports from Morningstar, Argus, CFRA, Ned Davis, Thomson Reuters, Vickers, and Schwab.

Market commentary via Apple Podcasts is linked on Schwab’s website. News articles on both the domestic and global fronts are presented as well. An economic calendar shows upcoming dividends, earnings announcements, splits, conference calls, and more.

Schwab wins here.

Which Broker Offers Global Trading?

Schwab offers a Global Account for U.S. investors. The service provides access to foreign markets in foreign currencies. Real-time trading and quotes are available in Japan, Italy, Belgium, Hong Kong, and several other locations. There is no account minimum and no fees other than commissions.

Webull’s mobile app does provide a lot of information on stocks trading on foreign exchanges. For example, we found stats on Vodafone Group (ticker VOD), a stock trading on the London exchange. However, Webull doesn’t offer trading capability on any of these foreign stocks.

Schwab is our choice.

Promotions

WeBull: Get one FREE stock between $8 and $1000 when you deposit $100+ at WeBull.

Charles Schwab: Make $100,000 deposit and get 500 commission-free online equity and options trades.


Recommendation

If you plan to do any retirement planning, go with Schwab. Webull doesn’t offer any IRA’s or financial advice, whereas Schwab does.

If customer service is important to you, definitely choose Schwab. The broker offers 24/7 phone service and lots of website resources.

If you need banking features with your trading account, opt for Schwab.

If you’re on a tight budget, then we recommend Webull.

Charles Schwab vs WeBull Summary

Schwab was the top performer in every single category except pricing and value. Only the poorest traders should pass on Schwab.



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