Robinhood vs. Webull

Robinhood and Webull are app-based investment platforms, with desktop investing as well. Founded in 2013, Robinhood launched its mobile phone trading app with the promise to democratize investing. With 13.7 million monthly users, Robinhood continues to innovate. Robinhood’s novel investor-match IRA accounts, zero commissions, and 24-hours-a-day, five-days-a-week trading make Robinhood a go-to app for new investors. Robinhood trades on the NASDAQ exchange under the symbol HOOD. 

Webull joined the party in 2018 and has expanded to Asia Pacific, Europe, and Latin America. The company reports 66.4 million monthly active users internationally. Webull recently went public on the NASDAQ stock exchange, ticker SKGR, through an arrangement with SK Growth Opportunities, a special acquisitions company, or SPAC. Unlike Robinhood, Webull is geared toward more sophisticated traders, with a customizable trading platform and access to a wider range of assets. While both platforms deliver rock-bottom pricing, the target user is broader and the features are richer at Webull. Dive into the features, costs, advantages, and disadvantages in this Robinhood vs. Webull match-up. 

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• Account Minimum: $0
• Fees: $0 commissions for stock, ETF, and options

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Usability

Fortunately for investors, both Robinhood and Webull offer good usability for mobile and desktop users. Robinhood caters to new investors with easily accessible dashboards and menus for mobile and desktop users alike. The intuitive main menu and search functions enable investors to view portfolio values and positions. All the investing, research, and educational functions can be tapped easily from the home screen. Trading is straightforward, although there’s not much in the way of customization at Robinhood. 

Both beginner-level and intermediate investors will appreciate the Webull website, desktop trading platform, and streamlined mobile app. Webull 8.0, launched in 2022, packs in even more functionality to the already comprehensive Webull platform. Users of the mobile platform can access most features, along with a view designed for the smaller screen. The user interface is accessible throughout the web-based, downloadable, and mobile apps. Selected dashboard menu items include detailed stock quotes, a customizable trade screen, and an account tab. Unlike at Robinhood, Webull users can customize a quote board, stock page, asset screeners, and trading screen and view deep insights into the account. 

Usability Verdict: Webull

Both Robinhood and Webull offer good usability, but the target customer is broader at Webull than Robinhood. The added customization at Webull makes it our pick for user experience. 

Trade Experience

Desktop Experience

Robinhood and Webull offer distinct desktop trading platforms, as the breadth of the tools and services is far stronger at Webull compared to Robinhood. The desktop trading experience on Robinhood’s web platform is fast, simple, and streamlined. Users can quickly access watch lists, quotes, charts, analyst ratings, and news. Robinhood’s new charting advances will appeal to beginner technical and fundamental investors. Experienced investors might prefer the expanded customization features on Webull’s web platform.

The customizable Webull web-based and downloadable trading experience is more comprehensive than Robinhood’s. Webull’s trade experience surpasses Robinhood’s with a more expansive lineup of tools and features, including templates for stock and ETF, options, futures, and day trading. Webull 8.0 places the trading platform in competition with more established competitors. The Webull trading platform includes 20 additional technical indicators, expanded market news, additional tools for both technical and fundamental analysis, and advanced charting.

Desktop Trade Experience Verdict: Webull

Investors who perform in-depth research and trade frequently will find a range of features at Webull. Beginners will be okay at Robinhood, but may quickly outgrow the more limited platform. 

Mobile Experience

Robinhood is a mobile-first brokerage specifically targeting new investors who want a simple app to buy and sell stocks, ETFs, and cryptocurrency. Robinhood mobile is good for basic trades and investing education. The app recommends investments and provides simple charts. Unlike many other stock trading mobile apps, Robinhood’s mobile app has minimal customization, and no chart drawing tools nor the ability to trade from the chart. Users report occasional problems with the app, but overall, the reviews are relatively positive. 

The added features of Webull 8.0 enhance the mobile experience as well. The app provides customizable charting, alerts, options trading, and financial reporting. The mobile app is similar to the desktop version but is carefully designed to work better on a smaller screen. This attention to small-screen functionality can be missing from some of the larger trading platforms. Active traders benefit from smart trading tools, including more than 50 technical indicators, 12 charting tools, and the ability to trade directly from the chart. 

Mobile Trade Experience Verdict: Webull

Like the overall platform, the mobile experience on Webull is more comprehensive than that of Robinhood. Beginning investors will be fine with the Robinhood mobile app, while those who delve into advanced technical stock and ETF trading, fundamental analysis, and options trading will prefer Webull.

Range of Offerings

Robinhood now offers trading 24 hours per day, five days a week. 

Robinhood offerings include:

• Stocks: Long only; no short selling; American depository receipts (ADRs) available
• Fractional shares: Stocks worth over $1.00 per share with a market capitalization of over $25,000,000 are eligible for fractional share orders; Robinhood offers stocks, limited ADRs, and ETFs
• Options: Single and multi-leg
• Cryptocurrency: A range of coins is available to trade
• Non-custodial wallets: Robinhood offers a web3 wallet for iOS and Android, which allows customers to control crypto in a seamless, decentralized web experience.
• Stock lending: Robinhood users can lend out fully paid stocks in their portfolio.
• IRA match: Robinhood adds an additional 1% every time you contribute to your IRA (3% for Gold members). To retain the match, the account must remain open for a minimum of five years. 

Robinhood Gold charges $5 per month or $50 per year and offers added features:

• High-yield cash account
• Up to $50,000 of instant deposit to facilitate immediate trading
• Advanced market data
• Professional research
• Robinhood Gold credit card with 3% cash back (coming soon; interested members can join a waitlist) 

Robinhood recently announced that it will acquire Bitstamp at the beginning of 2025. This global cryptocurrency exchange will attract retail and institutional clients from the EU, U.K., U.S., and Asia. 

Webull has a robust lineup of offerings:

• U.S.-listed stocks and ETFs, long and short
• American depositary receipts (ADRs)
• U.S.-listed options on stocks and ETFs
• Over-the-counter (OTC) securities (about 500)
• High-yield cash management
• Futures and futures options trading
• Commodities
• Webull Smart Advisor, a managed robo-advisor account

Cryptocurrency is available for trading through the new Webull Pay app, not on the Webull app. The crypto custodian is Bakkt (formerly Apex Crypto LLC). Additional features will be added in the future. Webull also offers a $100,000 paper trading account, which enables users to test out investment strategies without risking their own money. 

Range of Offerings Verdict: Webull

Both Robinhood and Webull continue to expand their offerings. Currently, Webull ekes out a win with futures, futures options, commodities, OTC, long and short trading, and a robo-advisor. But if those advanced offerings aren’t important to you, Robinhood should be just fine.

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Order Types

Robinhood has only the basic market and limit orders, and no conditional orders. Webull goes beyond the basic order types and includes specialty conditional orders like one-cancels-the-other (OCO), one-triggers-an-OCO (OTOCO), and one-triggers-the-other (OTO).

Order Types Verdict: Webull

Webull wins the category again for active intermediate and advanced traders who need the flexibility of conditional orders to control position entry and exit.

Trading Technology

At this point, it is important to zoom out a bit and recognize that, while both these platforms are innovative in the sense of making trading easier and more accessible via mobile app, Webull and Robinhood aren’t at the same level as the larger, more established brokers. The top brokers for advanced traders, like Interactive Brokers, offer far more control over trading technology than either of these platforms. For the average investor seeking a low-cost platform, sophisticated trading technology isn’t usually the top priority. Robinhood claims that its trading systems are designed automatically to receive the best price for the trade. Robinhood reports that 95.62%% of orders are executed at National Best Bid and Offer (NBBO) or better. The net price improvement per 100 shares is $2.77.

Webull's trading technology is sufficient for most investors and includes a net price improvement of 0.0050 a share on a 100-499 order size. There’s no smart order routing, trading automation, backtesting, or a way to route your own orders at either Webull or Robinhood. For most investors seeking low-cost trading, this shouldn’t be a problem. Both Robinhood and Webull, and many other investment brokers, receive payment for order flow (PFOF). Webull had the highest per share PFOF, $0.01088, during the period we analyzed vs. $0.00499 per share at Robinhood.

Trading Technology Verdict: Robinhood

Overall, Robinhood has the edge in this category with better NBBO price improvement.

Costs

Nearly all financial firms offer commission-free stock and ETF trading now. Robinhood goes beyond the norm by adding commission-free options and cryptocurrency trading. However, when trading crypto at Robinhood, there may be embedded spread charges, which means that you might pay a higher fee when buying and receive a lower price when selling compared to the market quote. Limit orders will keep the pricing in check. Robinhood Gold costs $5 per month or $50 per year for lower margin rates and additional benefits, including higher interest on uninvested cash and Nasdaq Level II market data. Robinhood’s website claims to offer the lowest-priced crypto trading.

Webull also enables commission-free stock, ETF, and options trading. For futures trading and futures options, the brokerage charges a low fee per contract. For crypto trading, the Webull Pay app charges no fees, although a 100 bps markup is included in the crypto's buying/selling price.

Cost Verdict: Tie

Both Webull and Robinhood offer rock-bottom investment trading fees.

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Account and Research Amenities

When contrasting the platforms with big players like Fidelity and Interactive Brokers, neither Webull nor Robinhood would win any awards for research offerings. Robinhood and Webull provide basic market information, detailed quotes, and stock screeners. Webull lacks a stock screener on the mobile app. Neither platform has dedicated ETF or mutual fund screeners. 

The research at both sites is fine for most beginning to intermediate investors. Robinhood Gold members can access premium Morningstar research reports and Nasdaq Level II market data for $5 a month or $50 per year. Webull investors can also access Nasdaq Level II quotes for a $2.99 per month subscription. Webull doesn’t provide third-party research but does offer analyst ratings. 

Account and Research Amenities Verdict: Tie

For technical and day traders seeking advanced and customizable charting, Webull’s advanced and customizable charting is best. For everyone else, either platform is adequate for basic research. Fortunately, investors can access other online sources for additional research. 

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Portfolio Analysis

Robinhood’s portfolio analysis features are slim and lack asset allocation, internal rate of return, or tax impacts of a planned trade. The Robinhood home screen shows real-time balances, a portfolio value graph, margin, and buying power.

Webull offers more analytical measurement features, such as account performance with realized and unrealized gains and losses, income from dividends and interest, and internal rate of return. Robinhood and Webull users receive information on margin and buying power.

Portfolio Analysis Verdict: Webull

For comprehensive portfolio analysis, you’ll need to visit other platforms that enable outside account linking. In the head-to-head contest, Webull is a notch ahead of Robinhood in the basic portfolio analysis features. 

Education

Robinhood is making steady progress in its investment in educational content. The Robinhood Learn vertical is well organized with foundational articles in Investing 101 and options trading, along with hundreds of articles spanning investment and business topics. We like the simplicity and comprehensiveness of Robinhood’s educational content. The “Picking an investment: How to approach analyzing a stock” guide for new investors is a helpful beginner investor resource and also a good example of what to expect within this platform's educational content. Robinhood also offers Sherwood News, which includes Snacks (a daily newsletter) and Chartr data insights. Additional education content includes a podcast and a robust YouTube video library.

Webull’s Learn Hub delves into trading strategies, financial instruments, and common investing terms. How-to content for the Webull platform is clearly explained through articles and videos, including topics such as customizing layouts and using trading tools. Basic educational information is offered through the CME Group and S&P Dow Jones Indices; this material helps the user with self-directed lessons.

Education Verdict: Tie

Both Robinhood and Webull have made great strides in their educational content. However, you’ll discover more comprehensive investment education on larger brokers and independent websites. 

Customer Service

Neither platform can compete with larger financial platforms like Fidelity, Wells Fargo, or Schwab when it comes to comprehensive phone and email customer service. Robinhood offers 24/7 live chat support and an extensive library of support articles. To speak with a support agent, you provide your number for a callback, but the company claims that the phone number is for information only, not support.   

Webull, designed for digital natives, first offers a library of support articles and videos from the “Help” page. Phone support is available, but you can count the wait times in hours, not minutes. Email support is also available. Customer service is not a reason to use either app. 

Customer Service Verdict: Tie 

Expect a challenge reaching a customer service agent at both Robinhood and Webull. Live chat results at Robinhood depend upon your question. Each platform is best suited for investors who can learn from written and video content. 

Security

Today, the vast majority of financial platforms have excellent security protocols in place. Both Robinhood and Webull provide two-factor authentication and biometric login with additional security measures when logging on from an unrecognized device. Robinhood provides basic SIPC insurance up to $500,000, including $250,000 cash protection. Robinhood offers an additional $1 billion aggregate limit for securities and cash insurance, with a per-customer limit of $50 million total in securities and $1.9 million for cash.

Webull offers industry-beating security protocols, including a discrete six-digit passcode for trading access. The Webull additional SIPC insurance covers an additional $150 million, and account holders are covered up to $37.5 million, including $900,000 in cash. 

Security Verdict: Tie

Robinhood and Webull clients should feel confident that their data, investments, and privacy are protected on either platform. No investment firm offers protection from the normal price declines in the markets, and no insurance protects against a loss in the market value of securities.

Account Types

Robinhood recently launched 1% cash match IRA accounts, or 5% match for Robinhood Gold members. To maintain the match, the funds must remain in the account for at least five years. Additionally, the taxable investment brokerage accounts are available in cash or margin. 

Available account types at Robinhood are:

• Taxable brokerage account
• Individual retirement account (IRA)
• Roth IRA
• Rollover IRA
• Spending account with linked debit card

Webull offers cash and margin individual taxable brokerage accounts. To be eligible for a margin account, you’ll need a minimum of $2,000. Webull also offers retirement accounts.

Its choices are:

• Taxable brokerage account
• Traditional individual retirement account (IRA)
• Roth IRA
• Rollover IRA

Account Types Verdict: Robinhood

The cash match for retirement accounts makes Robinhood a standout winner for retirement savers. 

The Bottom Line

Although Robinhood and Webull are seen as similar, there is a clear winner in the head-to-head comparison. The trading platform and range of stock and ETF choices give Webull a leg up on Robinhood. Webull ran the table for our best broker for low-cost options trading, best low-cost day trading platform, and best low-cost options broker categories. There is a lot to like with this upstart investment broker. While both Robinhood and Webull are easy to navigate, there is significantly more depth to the Webull offer and demo account access as well. The customization and advanced charting tools put Webull in a class with much larger trading platforms. 

But don’t write Robinhood off just yet. The cash-match retirement accounts at Robinhood trump Webull. Those who want their crypto and other financial asset trading handled within one app might also prefer Robinhood, as Webull has moved its crypto features to the new Webull Pay app.  

Ultimately, beginners who want a simple investment platform with basic educational resources and a 1% to 3% IRA match (for Robinhood Gold members) may prefer Robinhood. The majority of investors and traders, however, will appreciate Webull's larger slate of tools, more developed trading platforms, and larger slate of tradable assets. 

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