Robinhood vs. Webull 2022

The Robinhood and Webull investing platforms are steadily mentioned in the identical breath, but these firms are basically totally different in some ways. Webull, based in 2017, just lately launched Webull 8.0 with huge additions to the platform. Webull 8.0 contains extra technical charting and indicators, deeper market information, methods to match firm earnings, and extra choices options. Robinhood, then again, leans in the direction of a extra fundamental platform that’s finest fitted to new and newbie traders. Robinhood is older than Webull, having launched in 2013, and its Study vertical stands out as a robust characteristic within the app aimed on the latest traders. Whereas each platforms provide good person expertise, Webull supplies extra options than Robinhood for knowledgeable traders. We’ll discover the similarities and variations between every platform that can assist you resolve which is the very best match to your funding wants.

  • Account Minimal: $0
  • Charges: $0 commissions for inventory, ETF, choices, and cryptocurrency buying and selling (small markup is priced in)
  • Account Minimal: $0
  • Charges: $0 commissions for inventory, ETF, choices, and cryptocurrency buying and selling (small markup is priced in)

Usability

Luckily for traders, each Robinhood and Webull provide good usability for cell and desktop customers. Robinhood caters to new traders with simply accessible dashboards and menus for cell and desktop customers alike. The intuitive important menu and search features allow traders to view portfolio worth and positions. All of the investing, analysis, and academic features might be tapped simply from the house display screen. Buying and selling is simple, though there’s not a lot in the best way of customization at Robinhood. 

Each beginner-level and intermediate traders will admire the Webull web site, desktop buying and selling platform, and streamlined cell app. The latest launch of Webull 8.0 packs in much more performance to the already complete Webull platform. Customers of the cell platform can entry most options, together with a view designed for the smaller display screen. The person interface is accessible all through the web-based, downloadable, and cell apps. Chosen dashboard menu objects embody detailed inventory quotes, customizable commerce display screen, and account tab. In contrast to at Robinhood, Webull customers can customise a quote board, inventory web page, asset screeners, buying and selling display screen, and think about deep insights into the account. 

Each Robinhood and Webull provide good usability, however the goal buyer is broader at Webull than Robinhood. The added customization at Webull makes it our decide for person expertise. 

Commerce Expertise

Desktop Expertise

Robinhood and Webull provide distinct desktop buying and selling platforms, because the breadth of the instruments and companies is way stronger at Webull in comparison with Robinhood. The desktop buying and selling expertise on Robinhood’s net platform is quick, easy, and streamlined. Customers can shortly entry watch lists, quotes, charts, analyst rankings, and information. Skilled traders may miss the shortage of customization options on Robinhood’s net platform

The Webull web-based and downloadable buying and selling expertise is extra complete than Robinhood’s. The commerce expertise advantages from Webull’s extra expansive lineup of instruments and options. The desktop buying and selling expertise is extremely customizable at Webull with entry to templates for inventory, ETF, choices, day, and cryptocurrency buying and selling. The launch of Webull 8.0 this yr locations the buying and selling platforms in competitors with extra established rivals. A pattern of the brand new options contains 20 further technical indicators, expanded market information, added instruments for each technical and basic evaluation, and superior charting. Buyers who carry out in-depth analysis and commerce steadily will discover a vary of options at Webull. Newbies might be okay at Robinhood, however might shortly outgrow the extra restricted platform. 

Cell Expertise

Robinhood is a mobile-first brokerage particularly focusing on new traders who desire a easy app to purchase and promote shares, ETFs, and cryptocurrency. Robinhood cell is sweet for fundamental trades and investing schooling. The app recommends investments and supplies easy charts. In contrast to many different inventory buying and selling cell apps, Robinhood’s cell app has minimal customization and no chart drawing instruments nor the flexibility to commerce from the chart. Customers report occasional issues with the app, however general, the critiques are comparatively constructive. 

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The added options of Webull 8.0 improve the cell expertise as nicely. The app supplies customizable charting, alerts, choices buying and selling, and monetary reporting. The cell app is just like the desktop model however is fastidiously designed to work higher on a smaller display screen. This consideration to small-screen performance might be lacking from among the bigger buying and selling platforms. Energetic merchants profit from the sensible buying and selling instruments, together with 50+ technical indicators, 12 charting instruments, and the flexibility to position orders instantly from the chart. 

Like the general platform, the cell expertise on Webull is extra complete than that of Robinhood. Starting traders might be superb with the Robinhood cell app, whereas those who delve into superior technical inventory and ETF buying and selling, basic evaluation, and choices buying and selling will desire Webull.

Vary of Choices

Each Webull and Robinhood provide inventory, ETF, cryptocurrency, and choices buying and selling. Robinhood presents roughly 5,000 U.S. shares and ETFs for buying and selling, whereas Webull customers have entry to just about all the 7,000 U.S. traded shares and ETFs. Neither provide bonds, mutual funds, or different asset courses.

In step with the larger breadth of options, customers who’re looking for over-the-counter or much less fashionable shares and ETFs will desire Webull. These searching for the fundamentals ought to be okay at Robinhood. 

Order Sorts

Robinhood has solely the fundamental market and restrict orders, and no conditional orders. Webull goes past the fundamental order varieties and contains specialty conditional orders like one-cancel-the-other (OCO), one-triggers-an-OCO (OTOCO), and one-triggers-the-other (OTO).

Webull wins the class once more for energetic intermediate and superior merchants who want the flexibleness of conditional orders to regulate place entry and exit.

Buying and selling Know-how

At this level, it is very important zoom out a bit and acknowledge that, whereas each these platforms are progressive within the sense of constructing buying and selling simpler and extra accessible by way of cell app, Webull and Robinhood aren’t on the identical stage because the bigger, extra established brokers. The highest brokers for superior merchants, like Interactive Brokers, provide way more management over buying and selling know-how than both of those platforms. For the typical investor looking for a low value platform, nonetheless, refined buying and selling know-how isn’t normally the highest precedence. Robinhood claims that its buying and selling programs are designed routinely to obtain the very best value for the commerce. Robinhood studies that 84.67% of orders are executed at Nationwide Finest Bid and Supply (NBBO) or higher. The web value enchancment per 100 shares is $1.74.

Webull’s buying and selling know-how is enough for many traders and features a web value enchancment of 0.0063 a share on a 100-499 order measurement. There’s no sensible order routing, buying and selling automation, backtesting or solution to route your individual orders at both Webull or Robinhood. For many traders looking for low-cost buying and selling, this shouldn’t be an issue. Each Robinhood, Webull, and plenty of different funding brokers obtain cost for order move (PFOF). A key level to notice right here, nonetheless, is that Webull and Robinhood had been the highest two brokers when it comes to PFOF. Webull had the best per share PFOF $0.01088 in the course of the interval we analyzed to $0.00499 per share at Robinhood.

Total, Robinhood has the sting on this class with higher value enchancment and decrease PFOF per share. 

Prices

Almost all monetary companies provide commission-free inventory and ETF buying and selling now. Robinhood goes past the norm by including commission-free choices and cryptocurrency buying and selling. Though, when buying and selling crypto at Robinhood, there could also be embedded unfold prices which imply that you simply may pay a better payment when shopping for and obtain a cheaper price when promoting in comparison with the market quote. Restrict orders will preserve the pricing in verify. Robinhood Gold prices $5.00 monthly for decrease margin charges (5.75% vs 9.75% for normal), larger curiosity on uninvested money (3% vs 1.5% for normal), and Nasdaq Stage II market knowledge.

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Webull additionally permits fee free inventory, ETF, and choices buying and selling. Whereas commissions aren’t charged for cryptocurrency trades at Webull, there’s a 1% unfold if you purchase or promote crypto. Webull has decrease margin charges than Robinhood’s commonplace provide, charging 6.99% for balances as much as $25,000 and stepping down in tiers all the best way to three.99% on balances over $3 million. 

With apologies to heavy margin customers, it’s a tie in sensible phrases between Robinhood and Webull in relation to prices. 

Analysis Facilities

When contrasting the platforms with large gamers like Constancy and Interactive Brokers, neither Webull nor Robinhood would win any awards for his or her analysis choices. Robinhood and Webull present fundamental market info and detailed quotes. The analysis at each websites is ok for many starting to intermediate traders. Robinhood Gold members can entry premium Morningstar analysis studies and Nasdaq Stage II market knowledge for $5 a month. Webull traders also can entry Nasdaq Stage II quotes for a $2.99 monthly subscription. Webull doesn’t present third celebration analysis however does present extra superior and customizable charting than Robinhood. 

INSERT CHART

For technical and day merchants looking for superior and customizable charting, Webull is finest. For everybody else, both platform is sufficient for fundamental analysis. Luckily, traders can entry different on-line sources for extra analysis. 

Portfolio Evaluation

Robinhood’s portfolio evaluation options are slim and lack asset allocation, inner price of return, or tax impacts of a deliberate commerce. Webull presents extra analytical measurement options resembling account efficiency with realized and unrealized good points and losses, revenue from dividends and curiosity, and inner price of return. Robinhood and Webull customers obtain info on margin and shopping for energy.

For complete portfolio evaluation, you’ll want to go to different platforms that additionally allow exterior account linking. Within the head-to-head contest, Webull is a notch forward of Robinhood within the fundamental portfolio evaluation options. 

Schooling

Robinhood is making regular progress of their funding academic content material. The Robinhood Study vertical is nicely organized with foundational articles in Investing 101 and choices buying and selling, together with a whole lot of articles spanning funding and enterprise subjects. We just like the simplicity and comprehensiveness of Robinhood’s academic content material. The newly launched “First Commerce Suggestions” is a useful information for brand spanking new traders within the building of a diversified ETF portfolio. Robinhood additionally presents Snacks, a every day publication, a podcast, and video content material to reinforce customers’ information. 

Webull’s investor schooling is sufficient and contains brief programs and articles. The tutorial subjects span shares, ETFs, buying and selling, choices, and cryptocurrency. The Webull Study portal contains a number of explainer movies and details about methods to navigate the platform. 

In totality, Robinhood’s academic content material is superior to that of Webull. Right here once more, although, the academic assets at each brokers nonetheless pale as compared with bigger rivals.

Buyer Service

Neither platform can compete with the bigger monetary platforms like Constancy, Wells Fargo, or Schwab in relation to complete customer support. Robinhood lacks a chatbot and a direct telephone to name for assist, though customers can request a name again. Webull presents phone entry throughout buying and selling hours, however wait instances might be lengthy. The net chat with a stay agent at Webull throughout enterprise hours offers Webull the win over Robinhood when it comes to customer support. 

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Safety

At present, the overwhelming majority of economic platforms have wonderful safety protocols in place. Each Robinhood and Webull present two-factor authentication and biometric login with further safety measures when logging on from an unrecognized machine. Robinhood supplies fundamental SIPC insurance coverage as much as $500,000, together with $250,000 money safety. 

Webull presents industry-beating safety protocols together with a discrete six-digit passcode for buying and selling entry. The Webull further SIPC insurance coverage covers account holders as much as $37.5 million together with $900,000 in money. Webull’s additional SIPC insurance coverage makes this platform finest for bigger traders. Robinhood and Webull purchasers ought to really feel assured that their knowledge, investments, and privateness are protected at both platform. No funding agency presents safety from the traditional value declines within the markets. 

Account Sorts

Robinhood presents particular person taxable brokerage accounts solely. The account is both a margin or money account. There aren’t any retirement or different sorts of accounts obtainable at Robinhood.

Webull additionally presents money and margin particular person taxable brokerage accounts. Along with the person taxable brokerage accounts, Webull helps retirement accounts:

Webull’s account decisions, which embody IRAs, are superior to the one account provided at Robinhood.

Ultimate Verdict

Though Robinhood and Webull are seen as comparable, there’s a clear winner within the head-to-head comparability. The buying and selling platform, vary of inventory and ETF decisions, and clear cryptocurrency buying and selling value offers Webull a leg up on Robinhood. Webull ran the desk for our Finest Dealer for Low-Price Choices Buying and selling, Finest Low-Price Day Buying and selling Platform, and Finest Low Price Choices Dealer classes. There’s a lot to love with this upstart funding dealer. Whereas each Robinhood and Webull are straightforward to navigate, there may be considerably extra depth to the Webull provide and demo account entry as nicely. The customization and superior charting instruments put Webull in a category with a lot bigger buying and selling platforms. Solely the academic vertical is superior at Robinhood. 

In the end, newbies who desire a easy funding platform with fundamental academic assets should desire Robinhood. The majority of traders and merchants, nonetheless, will admire Webull’s bigger slate of instruments and extra developed buying and selling platforms. 

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Methodology

Investopedia is devoted to offering traders with unbiased, complete critiques and rankings of on-line brokers. This yr, we revamped the evaluation course of by conducting an intensive survey of shoppers which might be actively seeking to begin buying and selling and investing with a web-based dealer. We then mixed this invaluable info with our subject material experience to develop the framework for a quantitative rankings mannequin that’s on the core of how we compiled our checklist of the very best on-line dealer and buying and selling platform firms.

This mannequin weighs key elements like buying and selling know-how, vary of choices, cell app usability, analysis facilities, academic content material, portfolio evaluation options, buyer assist, prices, account facilities, and general buying and selling expertise in line with their significance. Our workforce of researchers gathered 2425 knowledge factors and weighted 66 standards based mostly on knowledge collected throughout in depth analysis for every of the 25 firms we reviewed. 

Lots of the brokers we reviewed additionally gave us stay demonstrations of their platforms and companies, both at their New York Metropolis places of work or by way of video conferencing strategies. Dwell brokerage accounts had been additionally obtained for many of the platforms we reviewed, which our workforce of skilled writers and editors used to carry out hands-on testing so as to lend their qualitative standpoint. 

Learn our full Methodology for reviewing on-line brokers.