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

Overview of Etrade and WeBull

While E*Trade has always advertised a lot, Webull TV commercials are just now beginning to appear. How does Webull compare to the older broker? This article is going to find out.

Broker Cost

Broker Fees Stock/ETF
Commission
Mutual Fund
Commission
Options
Commission
Maintenance
Fee
Annual IRA
Fee
WeBull $0 na na $0 $0
Etrade $6.95 $19.95 $6.95 + $0.75 per contract $0 $0

Services

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

Promotions

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

Etrade: At E*TRADE, get $6.95 trades + 65₵ per options contract.


Who Has the Larger Assortment of Investment Products?

Traders at Webull have access to equities and exchange-traded funds. ETF’s do not include closed-end funds. The broker-dealer has an unusual policy in that it prohibits the trading of any security selling for less than $1 or with a market cap under $10,000,000. Another unpleasant policy is that the broker doesn’t offer trading in over-the-counter securities. Penny stocks on America’s big exchanges can be traded.

E*Trade customers get ETF’s and stocks—and a lot more. The brokerage firm offer options, futures, bonds, mutual funds, closed-end funds, and cryptocurrencies.

E*Trade is the victor in the opening category.

Whose Website is Better?

Webull has built a website for advertising purposes only. Missing is a customer login, which is a pretty good indication of how much trading capability the site has. We did find a short FAQ with brief answers that may answer some newbie questions.

During our analysis, we found a much more thorough site at E*Trade. Bloomberg Business News is available in high definition free of charge. Although a trade bar is missing on the site, simple web pages provide stop, trailing, market, limit, and on-the-close orders. Duration choices include good-for-the-day, good-for-60-days, good-till-a-certain date, immediate or cancel, fill or kill, and extended hours.

Charting on E*Trade’s website is equally impressive. There are roughly 40 technical indicators, multiple graph styles, company events, and comparisons. We especially liked the ability to detach a chart and display it the full width of the monitor.


Etrade Pro


An alternative to the website is E*Trade’s very well-designed browser platform. Aptly named Power E*Trade, the software offers more advanced order types than we found on the website. OCO (order cancels other) is available along with Hidden and 3-Leg Bracket Stop.

Power E*Trade offers a watchlist, account and position information, plus a host of research tools we will examine in a later section.

E*Trade takes another category.

And What About Smartphone Apps?

Instead of trading on the Webull website, the broker’s clients get to use the company’s mobile app. Charting on the platform is very good. We found multiple graph styles. The software is capable of displaying five decades of price history. We also like the incorporation of technical studies and horizontal viewing mode.


WeBull vs Etrade


Webull’s order ticket offers just a few order types. There is a watchlist and a community forum. While ACH transfers are quick and easy, we were disappointed not to find a check deposit. One highlight is a simulated trading function.

Going over to E*Trade, we do get mobile check deposit. Other advantages of E*Trade’s mobile app include bill pay, live streaming of Bloomberg, and information on the broker’s robo management services. The order ticket offers more order types and duration choices than Webull’s. One disadvantage of E*Trade’s app is that it lacks a practice trading mode.


Etrade vs Webull


We have our first tie.

Does Either Firm Have Desktop Software?

Webull recently rolled out a new desktop platform. It functions on both Mac and PC. It is a desktop program, so it first needs to be downloaded. The software’s charting program is very good with technical studies and a few graph styles. There is a paper trading mode for extra practice. A watchlist, order history, and account information are available, but missing is live streaming of financial news.


Webull Trading Platform


E*Trade also has a desktop platform. It provides video financial news. The software has many more tools than Webull’s platform has. For example, there is a probability calculator, a strategy scanner, and advanced option order types. Charting is also very sophisticated.

There are two disadvantages of E*Trade’s platform. One is that it comes with account and trading minimums (Webull is free for all customers). The other is that it doesn’t have a practice simulator.

Overall, we call it a draw here.

Are Automatic Dividend Reinvestments Available?

E*Trade customers can sign up for the broker’s Dividend Reinvestment Plan free of charge. Individual securities can be enrolled or the entire account. A form (either electronic or pdf) needs to be submitted to the broker.

Webull fails to offer anything here.

Who Is Better for Security Research?

Although Webull’s website doesn’t have much in terms of educational materials, its mobile app and desktop platform are different stories. During our exploration, we discovered lots of security information. For example, the desktop system presents information from financial statements in numerical and graphical formats. A stock has analyst ratings (although no pdf reports as of yet).

Although Webull doesn’t provide trading in options or cryptocurrencies, it does provide information on them. For example, option chains and bitcoin news articles are available on the mobile app.

The E*Trade website has an extensive section devoted to investment education. We found resources on diversification, retirement planning, taxes, bond ladders, and more. The broker’s screeners are much better than Webull’s, with a larger selection of search criteria.

We’ll take E*Trade.

Which Broker Is Better for International Trading?

Both Webull and E*Trade provide information on international indexes. But only Webull provides data on individual stocks trading on foreign exchanges (currently just London and Frankfurt). Neither broker provides actual trading in foreign securities.

Webull is our pick.

Promotions

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

Etrade: At E*TRADE, get $6.95 trades + 65₵ per options contract.


Recommendation

For Individual Retirement Accounts, we recommend E*Trade. Webull doesn’t offer any, and if it ever does, it probably won’t have the level of retirement planning and financial advice that E*Trade customers have access to.

For customer support, we propose E*Trade once again. The brokerage house provides phone and online chat service 24 hours a day, 7 days a week. It also has a network of branch locations.

For cash management, we suggest E*Trade again. The financial conglomerate operates an FDIC-insured bank with several attractive accounts; while Webull offers nothing.

E*Trade vs WeBull Summary

E*Trade is the overall top performer in this survey. Nevertheless, Webull is a good pick for budget traders.



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