No investment firm offers protection from the normal price declines in the markets. This distinguishes the platforms from simpler investing apps that dont update you on market prices as they change in real time. Also, Robinhood Gold margin accounts require a $2,000 minimum balance and have a $5 per month fee. Financial news from top providersWSJ, CNBC, Reuters. Webull also offers cash and margin individual taxable brokerage accounts. The investing information provided on this page is for educational purposes only. Webull, founded in 2017, recently launched Webull 8.0 with massive additions to the platform. In totality, Robinhoods educational content is superior to that of Webull. Thats a clear downside for traders looking to get involved in some of these other fast-paced sectors of the market, but the vast majority of investors wont need those sectors to amass a comfortable nest egg. Webull and Robinhood do not offer mutual funds or futures. How much does it cost to transfer stocks from Robinhood to Webull? With enough trading volume, this system of arbitrage can more than make up for the lack of commissions. All-in-all, Robinhood can be great for active and day traders or margin traders who want to avoid commission fees. Lastly, a niche but highly valuable feature offered by Webull is known as paper trading. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content in this publication. The existence of a fiduciary duty does not prevent the rise of potential conflicts of interest. Robinhood also lacks many of the educational resources offered by the best brokers for beginners, which further erodes a novices understanding of how trading and investing for the long term should work. Unlike many other stock trading mobile apps, Robinhoods mobile app has minimal customization and no chart drawing tools nor the ability to trade from the chart. Many brokerages and investment apps offer cash management accounts, which provide you with a debit card and a checking or savings account that might even earn a modest interest rate. Our partners compensate us. The mobile app is similar to the desktop version but is carefully designed to work better on a smaller screen. If you're thinking about getting a Discover secured credit card, learn more in this article. We are an independent, advertising-supported comparison service. Very simple but has customizable order buttons, the ability to take actions directly from charts, and lots of widgets. NerdWallet, Inc. is an independent publisher and comparison service, not an investment advisor. Below you will find the specific steps on how to short a stock on Webull. Robinhood is as much targeted at novice investors as it is designed for them. Each broker has its pros and cons, depending on which category of investor you fall into. If you find discrepancies with your credit score or information from your credit report, please contact TransUnion directly. Webull margin interest rates range from 3.99% to 6.99% based on your balance.. News available from Benzinga, Reuters, Bloomberg and WSJ. He is based in Longmont, Colorado. They offer extended hours trading, so you can usually put in an order when you want. We make no representations, warranties or guarantees, whether express or implied, that the content in the publication is accurate, complete or up to date. What to do when you lose your 401(k) match, especially during the GameStop short squeeze, though some brokers offer discounts for high-volume traders, cryptocurrency trading with no out-of-pocket costs, top feature of the best brokers for beginners, mutual funds will want to turn to a top broker with an offering in that area, among the best brokers for fractional shares, even if youre guaranteed to get a bigger payday there. Both Robinhood, Webull, and many other investment brokers receive payment for order flow (PFOF). Here's an explanation for how we make money It continues with its bread-and-butter - no-cost trades on stocks, ETFs, options and cryptocurrency (although the latter has a built-in markup) using its slick mobile app. You have money questions. ", Webull. And with Webull, youll see more advanced trading features that cater to intermediate and advanced level traders. We like the simplicity and comprehensiveness of Robinhoods educational content. While commissions arent charged for cryptocurrency trades at Webull, there is a 1% spread when you buy or sell crypto. Finally, its worth mentioning that Robinhood has been hit from time to time with service outages, especially during periods of intense market activity. You can do the same with Robinhood and Webull if you prefer one aspect of one interface over the other. Webull and Robinhood do not offer mutual funds or futures. Robinhood goes beyond the norm by adding commission-free options and cryptocurrency trading. (Not available in IRAs.) The fact that Robinhoods interface makes trading slightly faster does not outweigh its lack of information or options. And Webull offers a $0 minimum deposit and balance on most accountsyou need $2,000 in your account to do margin trading. Robinhood has only the basic market and limit orders, and no conditional orders. We are compensated in exchange for placement of sponsored products and, services, or by you clicking on certain links posted on our site. Margin trading is available on both platforms as well. Webull also offers the a number of cryptocurrencies for trade. ", Webull. Read more. But youll have a $75 charge on both trading platforms to transfer your account out to another brokerage. . If opening a retirement account, the 1% match may have appeal over WeBulls retirement account. Robinhood also offers IRA accounts with a lucrative match. Average Retirement Savings: How Do You Compare? But Robinhood offers cash management accounts, and Webull doesnt. [2023 Complete Guide], Why does PayPal need my SSN? $0 - No maintenance, opening, inactivity, or closing fees, but theres a $75 fee for transferring an account to another brokerage. Cryptocurrency. Fortunately for investors, both Robinhood and Webull offer good usability for mobile and desktop users. Here again, though, the educational resources at both brokers still pale in comparison with larger rivals. The combination is not something that many large brokerages such as E-Trade or Merrill Edge offer, though each of these latter brokerages permit dividend reinvestment. It is not intended to amount to advice on which you should rely. Were transparent about how we are able to bring quality content, competitive rates, and useful tools to you by explaining how we make money. Those looking for the basics should be okay at Robinhood. That said, we have major reservations about Robinhoods approach. Remember that on the platform, Webull offers more comprehensive research tools geared towards experienced traders. Ask our Investing expert. Opinions expressed are solely those of the reviewer and have not been reviewed or approved by any advertiser. Webull and Robinhood both have trading limitations in place to protect investors from excessive risks. Like the overall platform, the mobile experience on Webull is more comprehensive than that of Robinhood. While Webull offers only limited research, it provides a nice suite of charting tools and a few dozen technical indicators. But that also gives you access to additional research and ups your instant deposit amount to $50,000. It was really easy. highly qualified professionals and edited by If you find discrepancies with your credit score or information from your credit report, please contact TransUnion directly. If youre not familiar, a margin account is where you borrow money from a brokerage to place a trade, and the brokerage charges an annual margin interest rate on the loan. Youll pay nothing in commissions for any stock, option, or ETF trades. Both platforms offer cryptocurrency trading, although its worth noting that neither lets you transfer coins you purchase off of their closed trading platforms. In this article, we explore the fees and features of both platforms, so you can make an informed decision on which platform fits your needs. The brokerages apps are packed with relevant information about all types of investments and markets, including initial public offerings (IPOs), dividends, popular exchange-traded funds (ETFs) and industries, forex and more. The trade experience benefits from Webulls more expansive lineup of tools and features. In a nutshell, Webull is more difficult to use than Robinhood. You get access to Morningstar and other advanced data with a Robinhood Gold Membership. Brian Beers is the managing editor for the Wealth team at Bankrate. Coinbase vs. Robinhood: Which one is better for cryptocurrency investing? Also, both companies do not have financial advisors for broker assisted trades, so fees are not applicable here either. Theres no smart order routing, trading automation, backtesting or way to route your own orders at either Webull or Robinhood. If you are transferring over, I can give you a referral (I'm on a promo for 5 free stocks for me on sign up) Thanks for the info! Webulls platform is clearly designed with a more sophisticated investor in mind. Come, see it yourself and open a free account today. Browser-based and downloadable desktop platforms available with advanced charts, indicators, screeners and customization. of contracts (Min $0.01) - Activity fee on sells, $0.0000051 x Total $ Trade amount (Min $0.01) - Regulatory on sells, $0.02135 x No. Many of the brokers we reviewed also gave us live demonstrations of their platforms and services, either at their New York City offices or via video conferencing methods. Both platforms offer almost identical trading opportunities. Our investing reporters and editors focus on the points consumers care about most how to get started, the best brokers, types of investment accounts, how to choose investments and more so you can feel confident when investing your money. ETFs, Options, Stocks, ADRs, fractional shares. Compare more options: View our list of the best stock apps, About the author: Chris Davis is a NerdWallet investing writer. If you want a hands-on approach to investing, a financial advisorcan help you create a financial plan for your investing needs and goals. Please try again later. Looking at Robinhood vs Webull, youll notice a lot of similarities. Our editorial team does not receive direct compensation from our advertisers. Robinhoods mission statement says that the company aims to democratize finance for all. It wants to make investing friendly and approachableand theres no question that the Robinhood investing app delivers on this promise with a clean, minimalistic interface and great ease of use. Home equity line of credit (HELOC) calculator. Neither platform has any minimum account balance requirement to get started. The broker allows you to reinvest dividends in stock and invest directly in stock with fractional ownership. Robinhoods portfolio analysis features are slim and lack asset allocation, internal rate of return, or tax impacts of a planned trade. It offers few guardrails for high-risk assets such as options contracts, and in many ways helps inexperienced investors find their way into those assets. At Robinhood, youll also be able to email customer support or consult with its sometimes-useful chatbot or FAQs. The Gold Plan has the same basic . See more Robinhood alternatives. Generally, both brokers are comparable in terms of account costs, with no activity fees or ongoing account fees. While it can be overwhelming to a new investor, for those who know what theyre looking at, Webulls experience is simple and efficient. It suggests new trades in much the same way an online retailer recommends new products based on past behaviors, creating potential hazards for investors who might not know the full risks of buying individual equities.