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

Overview of Interactive Brokers and WeBull

Interactive Brokers gets the lion’s share of frequent traders. But with a more attractive commission schedule and a new desktop platform, Webull is trying to give IB a run for its money. This article is going to pit the two firms against each other, and see if one outshines the other.

Broker Cost

Broker Fees Stock/ETF
Commission
Mutual Fund
Commission
Options
Commission
Maintenance
Fee
Annual IRA
Fee
WeBull $0 na na $0 $0
IB $1+ $14.95 $0.25+ per contract $0-$240** $30

Services

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

Promotions

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

Interactive Brokers: Open account and get $200 for a friend you refer.


Range of Asset Classes

As a $0 commission brokerage house, Webull has to trim overhead as much as it can. As a result of this business strategy, the company only offers trading in equities and exchange-traded funds. Webull also restricts the trading of securities priced under $1; and any stock that falls below a $10 million market cap threshold are also restricted. Even more disappointing is the lack of any OTC stocks. Penny stocks on major exchanges are tradable, however.

Interactive Brokers has a much larger smorgasbord. The broker-dealer offers options, futures, bitcoin futures, options on futures, stocks, penny stocks, OTC stocks, mutual funds, bonds, ETF’s, closed-end funds, precious metals, warrants, and currencies.

Interactive Brokers easily is the winner of the first category.

Website Comparison

The Webull website is for advertising and for downloading its new trading platform. There is no customer login, which means all account management is done on its mobile app.


Webull Trading Platform


The IB website offers two trading channels. One is via a client portal. This browser-based tool offers a trading ticket, market news, security data, currency rates, and more. The second item is WebTrader, a browser platform. Although we didn’t care for its charting capability, we did find its trading ticket to be very useful.


IB TWS


Webull loses again.

Mobile Platforms

One of Webull’s strengths is its very good mobile app. We found its charting to be very advanced, offering 8 graph styles (Heikin Ashi and colored bar among them), 5 technical studies, and a replay function that is able to replay the previous day’s price action.


WeBull vs Fidelity Investments


The order ticket isn’t quite as sophisticated, but it nevertheless is sufficient for many purposes. Extended-hours trades can be submitted. There are only 2 duration choices: day and GTC.

Other highlights of Webull’s app include a paper trading feature (with a currently-running contest), a customer forum similar to Twitter, cryptocurrency movements, and a watchlist.


Interactive Brokers Mobile App


The IB app also has some unique features. iBot is the company’s Artificial Intelligence. It can answer many questions. Also integrated is a stock screener that is able to search for investments that meet various criteria, such as 52-week high. Commentary on the markets can also be accessed. All of this is on top of advanced charting and an order ticket with many more features than Webull’s ticker offers.

Interactive Brokers wins here.

Other Tools

IB customers can access account info and receive notifications on a convenient smartwatch platform that’s compatible with Apple devices. Webull doesn’t yet have any wearable platforms.

Desktop and laptop traders can trade on an excellent platform free of charge with either IB or Webull. At Interactive Brokers, the software is called Trader Workstation. During our trial of it, we were impressed with its very advanced charting, sophisticated order ticket, and access to global markets.

Webull’s desktop platform offers good security screeners, excellent charting (albeit with fewer indicators than Trader Workstation), and thorough equity research. As with TWS, Webull’s platform has a simulated trading feature, which would be great for beginners.

Interactive Brokers is ahead of Webull here.

DRIP Service

Interactive Brokers clients can sign up for the firm’s Dividend Reinvestment Program. One caveat is that it’s not possible to enroll individual securities. Either the whole account can be signed up or not.

Despite IB’s weakness, Webull loses the category because it doesn’t provide any type of DRIP service.

Security Research and Education

Webull’s website has no research materials. The mobile app and desktop platform, which are similar in design and layout, have quite a bit of information. For stocks, we found analyst ratings (although not pdf reports), news articles from major sources, ETF weightings, institutional holdings, press releases, short interest, and more.

Data from a company’s financial statements is displayed on the Webull app and desktop platform. Webull shows the information in both numerical and graphical format, a helpful feature.

Interactive Brokers offers a lot of educational materials on its website. These resources include videos, articles, webinars, and self-guided courses. We found information on options pricing, bracket orders, and margin on futures. And this is just the website. On Trader Workstation, we found Level II data, a stock screener (for both domestic and foreign equities), Bloomberg TV, and an economic calendar.

IB wins again.

Level II Quotes

Interactive Brokers customers get to use Level II quotes on the firm’s desktop platform. There is a charge for the service.

Webull doesn’t provide Level II data at any price, and so loses this category.

Extended Hours

Both Webull and Interactive Brokers offer extended-hours trading, and the times are the same (4:00 am until 8:00 pm total). It’s a tie here.

Margin

Both brokerage firms in our survey offer margin accounts. Interactive Brokers charges 2.7% to 3.9% for margin loans, while Webull customers must pay 3.99% to 6.99%.

We’ll take IB here.

Global Trading

Interactive Brokers caters to global traders. As such, it offers a lot of resources in this category. It’s possible to trade different types of investments on many foreign exchanges. Some of the available countries include Mexico, Belgium, Austria, Germany, Israel, Poland, India, Japan, and many more. Trades are typically placed in the local currency.

Webull also has a lot of information on foreign securities. Using the broker’s desktop software, we were able to find data on several global indexes. With the mobile app, we found information on individual stocks, such as DPW, the ticker symbol for Deutsche Post trading in Germany. The big difference from IB is that Webull doesn’t currently offer the actual trading of foreign investments.

Interactive Brokers triumphs again.

Promotions

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

Interactive Brokers: Open account and get $200 for a friend you refer.


Recommendations

For IRA’s, we have no choice but to suggest Interactive Brokers. Webull doesn’t offer retirement accounts at this time.

Beginners will be better off at Webull, as IB is designed for experienced and sophisticated traders.

We can propose Webull for stock and ETF traders who need the best value.

For cash management, we recommend Interactive Brokers. It offers a debit card, which Webull fails to deliver.

Interactive Brokers vs WeBull Summary

Interactive Brokers clearly outdoes its rival in this survey in virtually all areas. Nevertheless, with its new desktop platform, Webull looks tempting, but only for domestic equity trading.



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