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

Overview of Fidelity and WeBull

Fidelity is your traditional brokerage firm offering a large range of financial services to both online and in-branch customers. Webull is something very different, but still manages to provide some trading services that Fidelity customers should consider. Here’s the rundown on these two:

Broker Cost

Broker Fees Stock/ETF
Commission
Mutual Fund
Commission
Options
Commission
Maintenance
Fee
Annual IRA
Fee
WeBull $0 na na $0 $0
Fidelity $0 $49.95 $0 + $0.65 per contract $0 $0

Services

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

Promotions

WeBull: Get up to $1,500 Amazon gift card and 2 FREE stocks between $8 and $1000.

Fidelity: Get 500 free trades with $100,000+ deposit.


Variety of Investment Choices

Webull is a low-cost firm that survives by cutting costs as much as possible. As a result, the company only offers trading in stocks and ETF’s (no closed-end funds). Moreover, stocks and ETF’s that go under $1 in price are placed on a blocked list. Securities that drop below $10 million in total market capitalization are placed on the same list. The broker-dealer doesn’t provide access to any over-the-counter market, although penny stocks that trade on major exchanges are available.

Fidelity clients can buy and sell stocks and ETF’s, plus closed-end funds, mutual funds, fixed-income securities, and derivatives. OTC equities are available as well.

Fidelity wins the opening category.

Website

Fidelity traders get a very good website where orders for all securities available can be submitted. Although there isn’t a permanent trade bar sitting at the bottom of the Fidelity website, clicking on a trade button generates a user-friendly pop-up order ticket. This can be used to submit orders for funds and equities, but not options.


Active Trader Pro


Options trading is trouble-free on the Fidelity website. Multi-leg strategies are pre-programmed, a histogram can be overlaid, the amount of open interest can be specified, and several derivative tools are available. These include an IV index and a probability calculator.

Charting on Fidelity’s website offers a lot of sophistication. During our testing, we found technical studies, company events, comparisons, and drawing tools.

Because Webull is a zero-commission broker-dealer, it does everything it can to reduce overhead. One consequence of this business strategy is the lack of a website login, which is sure to turn away some potential customers.

Fidelity takes the second category.

Mobile Apps

One of the ways Webull avoids having to offer website trading is by providing a very good mobile platform. Charting is high quality. We found technical studies, multiple chart display choices, and a very long time frame (five decades worth of data). We also liked the fact that a chart can be rotated.


WeBull vs Fidelity Investments


The Webull order ticket provides market, limit, and stop orders; and extended hours are on tap. Option chains are shown, but trading derivatives is not possible.

Webull’s app offers ACH transfers, but not mobile check deposit. Features that we liked include an economic calendar, a watchlist, and a simulated trading mode for extra practice without risking real money.

The Fidelity app permits the trading of options (calls and puts plus strategies) and mutual funds. Some features are similar to Webull; for example, there is a watchlist and an ACH transfer feature. But Fidelity also provides mobile check deposit. However, it fails to deliver a practice trading mode.


WeBull vs Fidelity


Overall, Webull wins here.

Other Tools

In addition to its mobile app and very good website, Fidelity provides a smartwatch app, an app for Apple TV, and a skill for Alexa-enabled devices. Webull fails to deliver any of these products.

Both Fidelity and Webull offer desktop platforms. During our testing, we found both of them to be very sophisticated with great charting tools, market data, security screeners, and paper trading. Neither broker charges anything to use its desktop software.

Overall, Fidelity is the victor in this category.

DRIP Service

Fidelity customers can easily sign up for the broker’s free DRIP service in order to automatically reinvest cash dividends.

Webull clients don’t have access to this service (another cost cutting measure), so Fidelity wins the category.

Investment Education and Research

Webull doesn’t offer much on its website, but its mobile app and desktop platform offer a great deal in terms of learning resources. On the desktop platform, we found news articles from Reuters and other sources. Major stocks display analyst ratings (not reports), institutional holdings, ETF weightings, short interest, and press releases.

Research using financial statements is very good at Webull, thanks to graphical display of historical data, available on both the desktop platform and mobile app. Actual and estimated numbers for return on equity and other metrics are available. Other highlights include graphs of cash flow and a company’s balance sheet.

One thing Webull doesn’t offer is general investment education, which can be found at Fidelity. During our research, we discovered many materials on a wide range of investment topics, such as how to trade options and the basics of bond yields. In-person events are also conducted at some Fidelity locations. As for stock research, Fidelity has a very good screener along with free third-party reports.

We give this category to Fidelity.

Global Trading

Fidelity customers can add global trading to any taxable brokerage account. With this additional feature, it’s possible to trade on 25 foreign exchanges in several different currencies, including the South African rand, the Swiss franc, and the Polish zloty. Real-time market data is available on foreign securities.

The Webull mobile app offers ample information on foreign stocks. For example, we were able to find a stock profile on HSBC, a bank security that trades on the London Stock Exchange. The information is very detailed, including such issues as order flow and analyst ratings. Unfortunately, Webull does not permit the actual trading of these foreign securities at this time.

Fidelity wins here.

Promotions

WeBull: Get up to $1,500 Amazon gift card and 2 FREE stocks between $8 and $1000.

Fidelity: Get 500 free trades with $100,000+ deposit.


Recommendations

For retirement saving, we suggest Fidelity. Webull doesn’t have the level of retirement planning and financial advice that Fidelity customers have access to.

New traders will definitely be better off at Fidelity as well due to its excellent customer service and large selection of learning materials.

We do recommend Webull for stock, ETF and options traders on a budget.

Fidelity vs WeBull Summary

Fidelity is obviously the overall top performer in this survey. Nevertheless, Webull would be a good pick by active stock and ETF traders who need the lowest possible trading fees. This is especially the case now that Webull has a first-rate trading platform.



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