Top rated WeBull competitors: $0 commission brokerage companies offering investing services.

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 Firstrade, this article will go through the pros and cons of the three Webull's 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.  

Top WeBull Competitors



Ally Invest

Pros

Probably the best broker among WeBull competitors, Ally Invest 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. Ally Invest lets you trade stocks and ETFs for free. You can also trade mutual funds, options, Treasuries, Municipal and Agency Bonds, and CDs; however these instruments incur a commission.

Ally Invest 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.


Webull Top Competitor


Cons

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

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Promotion link: Up to $3,500 cash bonus + $0 trades + transfer fee rebate.

Open Ally Invest Account


M1 Finance

Pros

The biggest advantage 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 offer these optimized pre-built portfolios of ETFs and stocks.

M1 Finance also offers the lowest margin rates in the industry. Unlike Webull and other competitors, the broker also has a robo-advisor service, where you answer few simple questions, and you get a well diversified portfolio for free.


M1 Finance Website


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 advanced trading tools. M1 Finance also lacks an online chat feature.

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Promotion link: Get up to $2,500 when you transfer account with $20K+.

Open M1 Finance Account


Robinhood

Pros

The biggest advantages that Robinhood has over Webull are lower margin rates and banking services. 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.


Robin Hood Investing Review


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 are that Robinhood doesn’t offer IRA accounts, advanced trading tools, investment advice, or a robo-advisor like many new firms are offering. The broker does not let you invest in mutual funds.

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Promotion link: Open account and get one free $2-$8 value stock.

Open Robinhood Account

Webull


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