Webull vs Robinhood, both platforms give relaxation to the market of millennial traders, but the thing is which app offers the most beat for the abstract buck?
Here you will see a thorough comparison of both apps.
What is Robinhood?
With this app, you can have commission-free trading. Beginner investors may find it best as it made pathways to get their feet into the game except paying high commissions or dealing with minimum account balances.
With Robinhood, you may charge $0 in commissions as well as the minimum amount to open an account.
This platform is made specifically for the beginners, which shows that it is the most basic trading platform available. Ultimately, traders of intermediate and advanced level often tend to find this platform to be lacking when it comes to research tools, technical indicators, and order types.
If you are in search of a simple platform to trade without commission, it is an excellent option.
What Is Webull?
Webull is a commission-free ETF and stock trading platform. Professionals made this platform for the active traders that are in search of an advanced user interface than most free platforms are offering.
In this platform, traders can have technical indicators, financial calendars, research agency ratings, and much more. In combination with easy access to margin, live data, ad research tools, Webull has designed a perfect platform for active traders.
Keep one thing in your mind that it is not built for long-term passive investors. Instead, it can help active traders more.
Since Webull has lots more for you, so it can be irresistible if you are a fresh person in the field. Robinhood has designed a reliable platform for beginners, but most of the intermediary and advanced level traders claim that many features are missing.
How Does Robinhood Work?
From your Smartphone, you can easily open a Robinhood account. You just need to add a few details like your contact info and how to fund your account. Your social data is also needed for some tax reasons, together with some additional information regarding your employment.
Once it is done, you will have to answer a few questions related to the level of trading experience.
The next step needs you to start your soon to be steller investments. After getting your account approved, you are free to make an initial deposit and start investing. You may want to invest in an individual stock, or an ETF may suit you.
Robinhood offers fractional shares, which shows you can buy shares of stocks and ETFs in just $1 increments.
How Does Webull Make Money?
Plenty of people are seeking to find how Webull makes money. Several ways are used to make money with Webull other than charging customers fees or collecting commissions.
If you are in search of real-time worldwide market data, they can serve paid subscriptions
Webull has margin accounts that allow earning margin interest
They can earn interest on all the inactive cash kept in brokerage accounts
By directing order flow, they can get fractions of a cent on each trade placed
- User-friendly and beginner-friendly platform
- Trading ETFs, stocks, cryptos and options are available
- Free pre-market and extended-hours trading
- With Robinhood Gold, the margin is accessed
- Share price irrelevant is made with fractional shares
- Availability of dividend reinvestment
- No trading simulator available
- Basic order types are supported only
- Retirement accounts are not available
- Minimal data and research tools are available
- Free Stock is offered with opening and funding any amount
- IRA free accounts are added
- Commission-free trades
- Research tools are available for technical traders and primary investors
- Free extensive hours trading pre-market and after-market
- Risk-free trading can be practiced with a trading simulator
- Real-time data is available for free
- Free options trading is now available
- Complete beginners may find information-overloaded
- Fractional shares are not provided
- No cryptos available
- One type of account is available
- No dividend reinvestment DRIP
Final Verdict of Webull vs Robinhood
Both Webull and Robinhood provide trading, which is commission-free, and there is no minimum account balance. The unique features of both platforms make them distinguish from each other.
Robinhood is made for beginners or first-time traders, whereas Webull is for those who are going from intermediate to advanced level of traders.
Beginner traders who are in search of ETFs, stocks, options, or cryptos, Robinhood is ideal for them. More technical and basic data is found on Webull for the intermediate and advanced traders.
Customer support is the one thing missing in both of these platforms. Both of them don’t provide any sort of phone support since they cut costs and run tilt business models. You cannot ask queries over a phone call, or even you cannot place trades over the phone. An online discount broker is ideal for you if seeking for such kind of customer service.