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

Overview of Robinhood and WeBull

Are you ready to try your luck with cryptocurrency trading? Webull and Robinhood are two ultra-low-cost securities brokers that now offer trading in digital currencies. Although Webull is the newer of the two, it has managed to make up a lot of ground recently. Here are the details:

Comparison Table

Robinhood Review
Rating 3-star brokerage firm rating Webull Rating
Stocks $0 $0
Options (per contract) $0 $0
Mutual Funds na na
Initial Funding Requirement $0 $0
Inactivity Fee $0 $0
IRA Annual Fee na $0
Full Account Transfer $75 $75
Partial Account Transfer $75 $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
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Robinhood Pros and Cons

Robinhood traders receive several important benefits. They include:

- Integrated option spreads
- Unique margin service
- Debit card

Because Robinhood is an ultra-low-cost broker, it should come as no surprise that there are many weaknesses:

- Customer service options are limited
- Small selection of account types and assets

Webull Pros and Cons

Although Webull and Robinhood make for a good comparison, there are some important differences between them. Webull’s advantages include:

- Very good desktop software
- Social networking
- Retirement accounts

Downsides of Webull include the following:

- Lack of option tools
- Small selection of cryptocurrencies
- No OTC stocks

Investment Products

If you open a brokerage account at Robinhood, you’ll be able to buy and sell these investment vehicles:

- Option contracts
- Seven cryptocurrencies
- Stocks (including limited access to the OTC scene)
- Closed-end funds
- ETFs

The coins that can be traded are:

- Bitcoin
- Bitcoin Cash
- Bitcoin SV
- Litecoin
- Dogecoin
- Ethereum Classic
- Ethereum

Webull offers five cryptocurrencies (Bitcoin, Bitcoin Cash, Ethereum, Dogecoin and Litecoin). On top of this selection, Webull also offers trading in:

- Stocks
- Options
- ETFs
- Closed-end funds

Winner: Robinhood

Website Trading

Once you’ve decided on what you want to trade, you’ll need some software tools to accomplish your task. Both firms in this duel have browser platforms, although they do differ quite a bit in terms of performance and features.

For example, Robinhood’s trade ticket offers the ability to set up recurring orders. Webull’s doesn’t have this. But it does have bracket orders (take-profit and stop-loss), which Robinhood’s software doesn’t deliver.

Compare Robinhood and Webull

In the realm of charting, Robinhood customers get a full-screen mode with two styles (line and candlestick) and four technical studies. Five years is the maximum amount of price history available.

In our Webull test account, we found a charting program with over 30 years of price history and 50+ technical studies. There are eight graph styles, including hollow candle and colored bar. Right-click trading is another feature not found on Robinhood’s platform.

One of the biggest differences between the two brokers in this category is simulated trading, available on Webull’s platform but not on Robinhood’s.

Winner: Webull

Desktop Platforms

Paper trading makes another appearance on Webull’s desktop system. For some weird reason, the program has fewer technical studies than its browser counterpart. It does, however, provide a lot of the same great features. Highlights that really impressed us include:

Webull vs Robin Hood

- Watchlists and alerts
- Custom layouts (not available on the browser platform)
- A second order ticket that is populated with just a ticker symbol
- A third order ticket for sending multiple orders simultaneously

Robinhood has no desktop platform at all.

Winner: Webull

Compare Webull and Robinhood Apps

For traders with mobile lifestyles, both companies provide apps. Webull’s Apple app is designed to function on tablets, whereas Robinhood’s is not. But Robinhood offers a platform for Apple Watch, a nice feature not available to Webull customers.

WeBull vs Robin Hood

Webull adds a community forum to its mobile app where traders can chat with each other and make posts of their trades. With a practice trading mode, it’s possible to join in on trading competitions and even win prizes for winning.

Robinhood’s app has no horizontal charting and no tools, either. Webull offers both plus several other charting tools, including a dual-chart mode.

Robin Hood vs WeBull

Winner: Webull

Investment Education

On Webull’s website, there is a Help center that provides answers to frequently-asked questions. But these are not in-depth learning materials. Here are a few examples:

- Why sell a covered call?
- What is an ACATS stock transfer?
- Why hasn't my crypto order been filled?

Robinhood’s site has a Learn center with more in-depth articles. During our research, we found these examples:

- I’m in my 20s — How should I approach investing?
- How to start investing for as little as 1 dollar
- What are Capital Gains?

Winner: Robinhood

Screeners and Security Analysis

To find specific securities to trade, Webull clients can use a screener that employs approximately twenty search variables. The downside is that it can only search for stocks, not options or funds.

But once on a stock’s profile, you will find plenty of helpful data points. These include:

- Press releases
- Order flow details
- Financial statement filed with the SEC
- News articles

Robinhood’s equity profiles have less information, but news articles have thumbnails, which is a nice graphical touch. Surprisingly, Robinhood has no screener at all. The broker’s software does group stocks into categories, but there’s nothing more than that.

Winner: Webull

Options Trading

If, after conducting your stock analysis, you decide you want to trade derivatives on a stock, both firms offer options trading. Webull currently only offers calls and puts. Despite the many strengths of its software, not one of its platforms has multi-leg strategies.

Robinhood’s mobile app does have some option spreads, including strangles, iron condors, and straddles. Surprisingly, its computer platform doesn’t have these. It is possible, however, to create your own multi-leg order (up to 4 legs) on the PC platform. This, of course, does require a minimum level of knowledge on your own part.

Winner: Robinhood

Compare Robinhood and Webull Cryptocurrencies

If you think you’re ready to dive into the new world of digital currencies, both brokerage firms have you covered. Although we updated Webull’s desktop software to the latest version, we were not able to trade cryptos on it. Nevertheless, the platform does display trade details, like high and low prices in the trailing 24-hour period.

On Webull’s mobile app and browser platform, crypto trading is possible with limit and market orders. A whole-dollar amount can be entered, which will result in fractional coins. Or you can trade a whole number of coins. Unfortunately, digital currencies can’t be traded in simulated mode.

Over at Robinhood, only a dollar amount can be used for crypto orders. Charting once again is rather simple compared to Webull, although as already mentioned, Robinhood offers more coins.

Winner: Draw

Margin Borrowing

Robinhood does not offer traditional margin accounts. Instead, it offers something called Gold, which is a subscription plan that provides:

- Instant access to deposits up to $50,000
- Stock reports from Morningstar
- Margin borrowing

The cost is $5 per month. This fee includes up to $1,000 of margin borrowing. After that point, the cost is 5% annually of the amount borrowed.

Webull has no monthly fee and charges between 4 and 7 percent. A major advantage that Webull offers over its rival is clear margin details on every equity profile. The details are:

- Whether the stock is marginable
- Day-trading leverage
- Overnight leverage
- Maintenance requirement
- Cost of borrowing

Winner: Webull

Open Webull Account

Open WeBull Account

Open Robinhood Account

Open Robinhood Account

Day & Swing Trading

Shorting: Amazingly, Robinhood does not permit the shorting of stocks or cryptos on its platform. Webull clients can make bearish bets on both. For equities, Webull’s software displays short margin details, a helpful feature.

Level II Quotes: These are available at both brokers. Robinhood requires a subscription to its Gold package. Webull charges $2 per month.

Direct-access Routing: You won’t be able to send orders to specific venues at either firm.

Other Features: Webull’s desktop platform offers several other tools that short-term traders may want to use. These include a Net Order Imbalance Indicator (NOII) window, time & sales data, volume analysis, and a price ladder widget. Robinhood’s software has none of these tools.

Winner: Webull

Miscellaneous Services

Dividend Reinvestment Program: Robinhood customers, but not Webull traders, can elect to have cash dividends reinvested as additional shares.

IRAs: Somewhat surprisingly, Robinhood doesn’t offer Individual Retirement Accounts. Webull does.

Fractional-share Trading: At both brokers it’s possible to trade stocks with a whole-dollar amount instead of share amount. This allows for the purchase or sale of a fraction of one share.

IPO Availability: Robinhood accepts limit orders for some IPO stocks on the morning they go public. These orders don’t fill until the stocks actually start trading, which means Robinhood’s service isn’t actual IPO participation. Webull does offer IPO participation (just go to IPO Center on the mobile app).

Extended Hours: Both brokerage houses offer trading before and after the opening bell. Webull has lengthier sessions.

Winner: Webull

Finally, Our Recommendations

Stock/ETF Trading: If you don’t plan to trade any OTC securities, we have to choose Webull over Robinhood. Its desktop program is very good; plus, the broker offers simulated trading on all its platforms, which really helps to learn the broker’s software. Robinhood does not offer paper trading.

Small Accounts: Either broker will work (neither has any fees or minimums).

Beginners: Although neither company offers a great deal in terms of investment education, the demo trading mode on Webull’s software would be very useful for beginners.

Long-Term Investors and Retirement Savers: Because Webull has IRAs, it gets our endorsement.

Robinhood vs Webull Assessment

Although Robinhood was first, that doesn’t mean it’s better. Webull continues to improve every month, while Robinhood seems content not to make many changes.

Open Webull Account

Open WeBull Account

Open Robinhood Account

Open Robinhood Account


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