Compare Etrade versus Webull: IRA accounts, commissions, investing fees, trading tools, account differences, pros and cons. Which online broker is better in 2022?

Webull vs. E*Trade Introduction

E*Trade has been around much longer than Webull. Does that mean the former is better than the latter? Here’s the answer:

Comparison Table

Etrade Review
Rating Etrade brokerage firm rating Webull Rating
Stocks $0 $0
Options (per contract) $0.65 $0
Mutual Funds $19.95 na
Cryptos na $0
Initial Funding Requirement $0 $0
Inactivity Fee $0 $0
IRA Annual Fee $0 $0
Full Account Transfer $60 $75
Partial Account Transfer $25 $75
Account Closing Fee $0 $0
Trading Experience & Technology brokerage ratings brokerage ratings
Mobile brokerage ratings brokerage ratings
Research Amenities brokerage ratings brokerage ratings
Portfolio & Analysis Reports brokerage ratings brokerage ratings
Customer Service and Education brokerage ratings brokerage ratings
Open an account No commissions on stocks and ETFs. Grab your last chance to get 12 free stocks valued up to $30,600.


Investing Options

Before choosing a brokerage firm, you need to know what you can actually trade inside an account.

E*Trade:

If you open a self-directed account at E*Trade, you’ll be able to buy and sell these products:

- Funds (exchange-traded, closed-end, and mutual)
- Bonds and other fixed-income securities
- Stocks and over-the-counter stocks
- Options
- Futures (including Bitcoin and Ethereum contracts)

On top of its self-directed service, E*Trade also offers managed accounts. These come in a variety of flavors, including both robo and traditional packages. The digital option will build a low-cost portfolio of ETFs and costs 30 basis points per year with a $500 minimum. Packages with human managers have higher minimums and fees, but add stocks, bonds, and mutual funds to the picture.

Webull:

Webull fails to offer any investment advice of any kind. But it does offer self-directed trading in these assets:

- ETFs
- Closed-end funds
- Options
- Stocks (without any OTC choices)
- Cryptocurrencies

Currently, Webull offers a total of five cryptos: Bitcoin, Bitcoin Cash, Ethereum, Dogecoin, and Litecoin.

Winner: E*Trade


Stock Research

For active traders especially, security analysis and information are essential.

E*Trade:

On E*Trade’s website, we found a stock screener with approximately fifty search variables. Unusual ones include MarketEdge picks and 13-day EMA above or below its 50-day EMA.

Hovering over a ticker symbol in the search results produces a small window with a graph showing price performance over the past few months. Clicking on the same letters results in a new page with the stock profile. Here, traders will find lots of important information, not least of which is third-party research from TipRanks and several other analysts. There are reports in pdf format, and we really like details in pie chart format on insider activity.

Webull:

Traders at Webull can use an equity screener that has roughly twenty search criteria. Examples include P/E ratio, dividend yield, and net margin. Results can be quickly sorted vertically by any search variable. A single search can be saved as a watchlist, a really nice feature.

Stock profiles at Webull have lots of information on them. Highlights include news articles, income statements, analyst ratings (without reports), order flow, and trade data.

Winner: E*Trade


Websites

E*Trade:

E*Trade customers get to use a really well-designed website. During our testing of it, we found it easy to use yet potent. The order ticket has 7 order types (including trailing and on-close orders) and several duration choices.


Etrade or Webull


Charts on E*Trade’s site are decent but not great. This anomaly can easily be corrected by launching Power E*Trade from the dashboard. This is the firm’s browser platform, and it’s very, well, powerful.

Power has excellent charting with many technical studies, and the order ticket has many advanced features.

Webull:

In the not-so-distant past, Webull had no website login at all. Today, the site does have a login, although there’s not much inside. The site itself offers zero trading capability, and there are just a few account management tools. E*Trade’s site, by comparison, has a very thorough self-service area.

But like E*Trade, Webull has a browser platform launched from the website. It has many great features. Those that don’t appear on Power E*Trade include:

- Details on Hong Kong stocks and cryptocurrencies
- Financial statements in numerical and bar-chart formats
- Press releases
- Corporate actions


Webull Referral Program


Winner: Too close to call


Desktop Platforms

E*Trade:

E*Trade’s software developers didn’t stop with Power. They also built E*Trade Pro, the company’s most advanced trading system. This program is launched from the desktop and it has many fantastic features. There are over a hundred technical studies and lots of drawing widgets. And we really like free access to Bloomberg TV.


Etrade or Webull


Pro has two order tickets, each with its own strengths. Available orders include bracket and one triggers all. Direct-access routing is another great feature.

Webull:

Webull’s desktop platform doesn’t have direct-access routing or streaming video news. But it does deliver some really great features that E*Trade Pro lacks. For example:

- Volume analysis
- Price ladder
- Details on short interest
- Crypto details


Webull versus E*Trade


Both platforms have a lot of the same features like watchlists, Level II quotes, advanced charting, and news articles. Webull’s has a demo mode, while E*Trade Pro does not.

Winner: Overall, pretty even


Mobile Apps

E*Trade:

E*Trade clients get to choose from among two mobile apps. One is designed after Power; this one is intended for heavy-duty trading. It has horizontal charting with lots of technical indicators and an advanced order ticket.


Etrade vs Webull


The second app has mobile check deposit, Level II quotes, and mutual fund trading.

Webull:

Webull only has one app, but we were nevertheless very impressed with it. We really like the digital bulletin board that each asset profile has; this creates a social networking feature that E*Trade’s apps don’t provide. Other highlights on Webull’s app include:

- Trading competitions (in practice mode)
- Lots of regular promotions
- Excellent charting tools


WeBull vs Etrade


Winner: Very close


Margin Borrowing

Experienced traders know to use other people’s money to buy securities. This can be accomplished with either an E*Trade or Webull account.

E*Trade:

The E*Trade website has a margin calculator that displays long and short margin requirements on a ticker symbol. The broker charges anywhere from 6.95% to 10.45% for margin debits.

Webull:

Webull doesn’t use a margin calculator. Instead, every security profile has long and short icons. Hovering over them reveals lots of margin details, such as day-trading leverage, maintenance requirement, and borrowing rate; this can range from 3.99% to 6.99%.

Winner: Webull


Incentives

Webull: Grab your last chance to get 12 free stocks valued up to $30,600.

Etrade: No commissions on stocks and ETFs.



Option Tools

E*Trade:

E*Trade customers can buy and sell option contracts on any of the broker’s software platforms. The website, perhaps somewhat surprisingly, is one of the best places to do it. The lion’s share of tools will be found here with income backtesting, a strategy optimizer, a probability calculator, and very large profit-loss graphs.

Integrated option spreads are available on several platforms. On the Power mobile app, we counted 16 plus a build-your-own order.

Webull:

On Webull’s browser platform, it’s possible to trade calls and puts only. But its mobile app and desktop software have integrated spreads. We counted 9 in total. Unfortunately, there’s no ability to create your own multi-leg order (as with E*Trade).

Winner: E*Trade


Miscellaneous Services

Banking Tools: E*Trade customers can open a checking or savings account at E*Trade Bank. Webull does not offer any cash management accounts or tools.

IPO Availability: Both brokerage firms in this survey offer full IPO participation.

Fractional-share Trading: Webull offers fractional investing in ETFs or stocks.

IRAs: Although Webull does offer Individual Retirement Accounts, it doesn’t have Beneficiary, Minor, or Complete IRAs, which E*Trade does have.

Dividend Reinvestment Program: E*Trade, but not Webull, has a dividend reinvestment service (at no charge).

Extended Hours: Webull has a longer pre-market session, but E*Trade has overnight trading in a small selection of ETFs.

Winner: E*Trade


Incentives

Webull: Grab your last chance to get 12 free stocks valued up to $30,600.

Etrade: No commissions on stocks and ETFs.



Recommendation

Stock/ETF Trading: With E*Trade’s very extensive list of stock reports at no cost, we endorse it. Its security screeners are also more thorough. Webull has better margin rates, so if you plan to trade with broker's money, we recommend Webull.

Beginners: E*Trade is the only brokerage firm in this contest with brick-and-mortar offices, around-the-clock customer service, and comprehensive educational materials (including videos). It gets our recommendation.

Small Accounts: For taxable accounts, either brokerage firm will do. For IRAs, we suggest Webull because E*Trade has several $25 fees.

Long-Term Investors and Retirement Savers: Webull does not offer financial-planning services, mutual funds, or fixed-income assets. E*Trade does, and it receives our stamp of approval.

E*Trade vs WeBull Summary

Webull has come a long way since it began with just a mobile app. But it still lags behind E*Trade in several areas, most notably in retirement planning and long-term investing.

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Updated on 3/11/2021.


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