Top rated WeBull competitors: $0 commission brokerage companies alternatives offering free or low priced trades.

Webull, Robinhood, Firstrade, and M1 Finance are all competing companies in the low-cost brokerage space, which is becoming increasingly popular among younger generations of traders. Starting with Webull, this article will go through the pros and cons of these four competitors so that you can get a better idea of which one is most suitable for your investing needs. All of these brokers offer a free basic account ($0 commissions and no account maintenance fees), so this article will naturally focus on the other, more differentiating factors.  

Webull: The Pros

A big positive that sets Webull apart from the others is its virtual trading tool, which would be especially attractive to new investors. This feature allows you to place practice trades in a virtual section of your account without involving actual money. This is helpful for newbies who want to get a feel for what the “market experience” is like without actually risking their money until they feel they are ready.

Other Webull pros include a sharp-looking app with a surprising level of chart functionality for a mobile trading app and a solid amount of stock-specific information to help with your research. Each stock’s profile page shows a company overview, relevant news headlines, press releases, financials, and analyst ratings.

Webull: The Cons

Where to begin… Webull’s investment offerings are extremely limited, even for a free brokerage. Currently you can only trade U.S.-listed stocks and ETFs on the Webull platform. Foreign stocks, penny stocks, options, futures, bonds, and mutual funds are all off limits.

Other cons include Webull’s bare bones customer service and the lack of automated investing options. Their website has a helpful Q&A section and you can send messages via the mobile app.

Top WeBull Competitors

Brokerage Firm Rating Stock & ETF Options Cost Mutual Funds Min To Open Review
Firstrade Firstrade rating $0 $0 $0 $0 Review
M1 Finance 4.5-star brokerage firm rating $0 na na $0 Review
WeBull Webull Rating $0 na na $0 Review
Robinhood 3-star brokerage firm rating $0 $0 na $0 Review

Firstrade

Pros

Probably the best broker among WeBull competitors, Firstrade has some pretty good pros compared to Webull. These include a much broader set of investments to choose from, superior customer service, and some helpful trading tools. Firstrade lets you trade stocks, ETFs, options, and mutual funds for free. You can also trade Treasuries, Municipal and Agency Bonds, and CDs; however these instruments incur a commission.

Firstrade’s customer service model includes 24/7 live chat assistance in addition to a phone number for more custom inquiries that is staffed from 8:00 AM to 6:00 PM Monday through Friday. Firstrade offers some really helpful trading tools as well, including a screener that allows you to search through thousands of stocks, ETFs and mutual funds based on characteristics such as performance, expense ratios, and net assets.

Cons

To be completely honest, all things considered between these four low-cost brokers there really aren’t any cons that stand out with Firstrade’s platform. They don’t have an advanced trading platform, but this is the case with any free broker.

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M1 Finance

Pros

The biggest pro with M1 Finance is their unique way of investing through pre-built or custom-built “pies”, or baskets of securities. Each pie is constructed as an optimized portfolio based on the ideas of Modern Portfolio Theory and focuses on goals like retirement, income generation, or a specific sector. None of the other free brokers discussed here over these optimized pre-built portfolios of ETFs and stocks.

Cons

The biggest cons to investing with M1 Finance are its limited universe of investment offerings (their pies can only consist of stocks and ETFs), customer service, and their lack of financial advice. M1 Finance also lacks an online chat feature.

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Robinhood

Pros

The biggest leg up that Robinhood has over Webull is its investment offerings, which are alright, but better than Webull’s simply because Webull offered so little in this area. Robinhood lets you trade U.S.-listed stocks, ETFs, and ADRs, options, and a variety of cryptocurrencies. Similar to Webull, Robinhood’s app is pretty decent in terms of being easy to use and including stock-specific information like earnings and company profiles and trading details like volume, market cap, and dividend yield.

Cons

A big con of investing with Robinhood is its bare bones customer service model. If the Q&A section doesn’t answer your question your only option is to message them through the app, which has yielded mixed results for us depending on the question. Other notable cons, which it shares with Webull, are that Robinhood doesn’t offer investment advice or automated assistance through robo-advisors like many new firms are offering and they don’t currently let you trade mutual funds.

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Promotion link: Open account and get one free $3-$6 value stock.

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