Overview

Although Fidelity is better known and has a much longer history in the brokerage industry, it now faces meaningful competition from the newer Webull platform. Does Webull have enough strengths to beat Fidelity? We have the answer.



As the table above shows, Webull has lower pricing than Fidelity for many options traders.

First, Let’s Look at Available Investments

Webull started with just stocks and exchange-traded funds. It has continued to expand and has added closed-end funds, options, bonds, money market funds, futures, and cryptocurrencies to its trading menu. These products can be traded inside self-directed accounts only. Webull also offers robo accounts. The cost for the service is 20 basis points per year.

Fidelity began as a more traditional brokerage firm, which means it offers investment-advisory services. But the company has also adapted over time, so it now has both human and robo versions of its managed-account services.

On the self-directed side, Fidelity offers equities, ETFs, closed-end funds, mutual funds, options, annuities, bonds, and crypto through Fidelity Crypto. It also goes beyond Webull by offering access to foreign stock markets in 25 countries and 16 currencies.

In addition to trading these investment products, customers can also buy life insurance through Fidelity.

Winner: Fidelity

Next, Let’s Examine Margin Trading

Margin accounts are available for self-directed accounts at both broker-dealers in this comparison. Webull customers pay between 8.74% and 7.44% percent for loans through Webull Premium, depending on the amount borrowed. Fidelity customers pay between 11.825% and 7.5% percent.

Webull’s software, which we’ll review shortly, displays important margin information for a stock or fund. Enter the ticker symbol or company name, and the platform shows data points such as maintenance requirement and day-trading leverage. Fidelity’s trading platforms don’t display these important details.

Winner: Webull

Now, It’s Time for Website Trading

Although Fidelity’s website doesn’t display security-level margin details, it does provide a large number of other tools and resources. Green trade buttons appear on a security’s profile page (just type a symbol or company name in the search bar at the top of the site to reach the profile). For equities, there are 8 trade types, 4 of which are trailing orders. The ticket has 6 time-in-force choices, 2 of which are on-the-close orders (not commonly found at other brokers).





It’s easy to browse thousands of annuities, CDs, and bonds on Fidelity’s website because of its user-friendly fixed-income tools. The bond trade ticket offers two limits: one for price and one for yield. A link to bond details displays many data points, including workout rate and tax status.

Charts for stocks and funds are available on their profile pages. During our review, we were able to expand a chart across the full width of the monitor. Price history goes back to 1970 for stocks that old, and Fidelity performs very well with its charting tools. These include roughly 40 technical studies, several drawing tools, 3 company events, and many chart styles.

At Webull, we found charting software that was also impressive. Roughly the same number of technical indicators is included, although Webull has more drawing tools. Another advantage for Webull is that its software supports right-click trading.





Webull has improved its options tools over the years. Its platforms now support multi-leg options strategies and customizable tools. Fidelity still has strong options resources on its website, including several multi-leg strategies, such as calendars, iron condors, and butterflies.

Webull also provides paper trading, a useful feature that isn’t available on Fidelity’s website. Webull also has two order tickets (one regular and one advanced). Combined, they support several complex order types, including bracket orders.

Winner: Webull

And Don’t Forget About Desktop Programs

Webull’s very good desktop platform includes integrated options strategies. During our trial of the software, we found 9. It was easy to trade strangles, straddles, and more. The options order form includes an integrated profit-loss diagram, so it’s very easy to see maximum gains and losses visually before submitting an order. On the profit-loss diagram, contracts can be dragged along a horizontal price axis to adjust strike prices, which is another useful feature.





The rest of the desktop platform is quite similar to Webull’s browser platform. The default layout is the same (although it can be changed), and many of the tools are identical.

One very helpful resource on the desktop program that isn’t on the browser system is a Learning Center. Located in the lower-left corner, this resource provides a lot of guidance on how to use the desktop platform.

Other features on Webull’s desktop software include simulated trading, time & sales data, multiple watchlists, advanced charting with right-click trading, volume analysis, a price ladder, heat maps, global market news in article form, and more.

Fidelity has a desktop platform with live streaming video news, which is a major advantage over Webull in this category. During our test drive of Fidelity’s platform, we also liked its large set of derivative tools. Resources that won’t be found at Webull include an options trade builder, options statistics, the day’s largest options trades, an IV index, a probability calculator, and more.





Like Webull’s platform, Fidelity’s desktop software has multiple trade tickets. A conditional order form can send a second order to the exchanges once a trigger is met, such as the day’s volume crossing a preset level. A multi-trade ticket can send multiple orders at the same time.

Charts on Fidelity’s desktop system are just as good as Webull’s, offering many of the same resources, such as drawing tools, comparisons, and technical studies.

Winner: Pretty close

We Need to Explore Their Mobile Apps

The first thing we noticed about Fidelity’s mobile app is the amount of news available on it. Besides a stream of Bloomberg (in HD), there are many articles with thumbnails. Some, but not all, of this information can be accessed before logging in.





Moving to actual trading, Fidelity is unusual because its app can place mutual fund orders. The stock trade ticket borrows its order types from the website version. A basic version has fewer order types. And for an even simpler experience, Fidelity has rolled out a simplified version of its app.

If you get completely lost on this app, just tap the Virtual Assistant button. This is the platform’s artificial intelligence tool. During our test drive, it did a decent job of answering questions, which can be asked in written or spoken form.

Webull’s mobile app also has AI-powered tools through Vega. It does not have mobile check deposit, a nice feature available on Fidelity’s app, but it does have a demo mode, which Fidelity’s app lacks. Webull’s app also includes a community forum where the broker’s customers can connect with one another and discuss market news and specific assets.





During our review, we found Webull’s charting program to be one of the app’s biggest strengths. There is a dual-chart mode for viewing two securities at the same time, and we really liked the replay mode for reviewing the day’s price action.

Finally, there are the app’s trade tickets. Bracket orders appear again along with several other advanced order types, and we really like the integrated options spreads with a customizable derivative order ticket (something Fidelity doesn’t offer).

Winner: Another tie

And the Extra Services They Offer

Banking Tools: Fidelity offers checkwriting, Visa debit cards, FDIC insurance, and many generous banking-style features. Webull investors enjoy a very high 3.35% APY rate on their cash.

Individual Retirement Accounts: Both investment firms offer IRAs. Webull has traditional, Roth, and rollover versions, while Fidelity goes further with accounts for small businesses.

DRIP Service: Customers at both firms can sign up for dividend reinvesting on eligible securities.

Fractional Shares: Both Webull and Fidelity provide whole-dollar investing (and whole-share investing) in stocks and exchange-traded funds. Webull also offers fractional-coin investing.

Extended Hours: Pre-market and after-hours trading are available at both firms in this comparison. Webull has very long trading hours and also offers overnight trading in select securities.

Initial Public Offerings: It’s possible to buy shares of stocks before they begin trading on the secondary market. Webull customers can access available IPOs through the broker’s app, while Fidelity generally requires either $100,000 or $500,000 in eligible household assets, depending on the offering, or Premium or Private Client Group status.

Periodic Mutual Fund Investing: Fidelity has it. Webull offers recurring investments, although not a broad automatic mutual-fund investing program.

Winner: Fidelity

Promotions

Webull: Get 12 FREE STOCKS worth up to $3,600 and a 3.5% bonus on IRA deposits with Webull！

Fidelity: None right now.

Finally, Our Recommendations

Mutual Fund Trading: Fidelity for obvious reasons. Webull offers money market funds, but it does not provide a full mutual-fund marketplace.

ETF & Stock Trading: Webull.

Beginners: Fidelity has better educational materials on its site. It is also the only broker in this comparison with branch locations and in-person events. Webull has easier-to-learn trading tools and a demo mode, which can also be useful for new investors.

Small Accounts: Neither firm has any bothersome fees.

Long-Term Investors and Retirement Savers: Webull doesn’t have target-date mutual funds or traditional financial-planning services. Fidelity does.

Webull vs Fidelity Judgment

Fidelity wins overall in this matchup, but Webull has made major progress in just a few short years. Fidelity now has serious competition, especially for active trading. Webull has lower pricing for many investors who use margin or trade stock and ETF options, while both firms now offer access to cryptocurrencies.

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