Webull vs. Robinhood

Webull and Robinhood are two of the best mobile-first trading platforms available.

Both offer commission-free stocks, exchange-traded funds (ETFs) and options, fractional share trading and direct access to cryptocurrency. While Webull has more advanced trading tools and tradable assets, Robinhood’s user-friendly trading platform is one of the most intuitive trading apps we’ve reviewed.

These trading apps are solid choices whichever way you go, but they cater to different types of investors.

Here’s how they compare.

Webull vs. Robinhood: A quick comparison

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How features compare

Both apps offer similar features, but Webull edges ahead by offering a robo-advisor and paper trading.

	Webull	Robinhood
Robo-advisor	Yes	No
Human financial advisor	No	No
Fractional shares	Yes	Yes
IRA match	3.5% match, but for a limited time only	3% year-round match but requires a $5 monthly Gold membership, or get a 1% match without Gold
Cash sweep rate	5% APY	4.5% APY, but requires a $5 monthly Gold subscription
IPO access	Yes	Yes
Instant buying power	Yes	Yes
Paper trading	Yes	No
24/5 trading	No, extended hours only	Yes
Educational resources	Yes	Yes

How the platforms compare

Webull and Robinhood offer distinct trading platforms tailored to different types of investors.

Webull’s platform is more advanced but still user-friendly

Webull is geared towards more experienced traders, providing advanced charting tools, technical indicators and customizable charts. It also offers paper trading, allowing users to practice strategies with virtual money. Webull provides in-depth market data, including real-time quotes, Level 2 market data (for a fee), financial calendars and news feeds, along with powerful screeners for identifying investment opportunities.

Robinhood’s platform is engaging, intuitive and incredibly user-friendly

Robinhood is designed for simplicity and ease of use, making it ideal for beginners and intermediate traders and investors. It features a straightforward, user-friendly interface. And while Robinhood also offers basic research tools and educational resources, it lacks the advanced analytical capabilities found in Webull.

Overall, Webull caters to traders seeking more sophisticated tools and data, whereas Robinhood appeals to those who prefer a simpler, more intuitive trading experience.

The similarities

Webull and Robinhood are frontrunners among other stock trading apps. Both offer commission-free stock, ETF and options trading, with no options contract fees. Both also offer 24/7 customer support, fractional shares, high-yield cash sweep programs and educational resources to help you learn and grow as a trader and investor.

Neither offers access to a human financial advisor, but both offer IRA match programs. However, Webull’s IRA match bonus is only available for a limited time, and to access Robinhood’s year-round 3% match, you’ll need to subscribe to Robinhood Gold for $5 per month.

Which broker is better for beginners?

Robinhood is hard to beat if you want a low-cost, intuitive trading experience that simplifies investing. Robinhood makes it incredibly easy to sign up and start investing and offers some of the lowest fees among brokers we review.

Meanwhile, its educational content is straightforward and helpful for those just starting, and its IRA match program can incentivize beginners to start investing.

Which broker is better for advanced traders?

Webull is the clear choice for advanced traders. Its platform is tailored to active traders, offering advanced charts, financial analysis tools, a dedicated, customizable desktop platform and a paper trading account to test your trading strategies.

Which one’s safer and more reliable?

Webull and Robinhood’s brokerage accounts are SIPC-insured up to $500,000, including $250,000 for cash claims. Security for their cash sweep programs and crypto varies a bit.

Cash sweep insurance

Cash deposited into Robinhood’s cash sweep program is eligible for FDIC insurance of up to $2.25 million, while Webull’s Cash Management account offers FDIC insurance of up to $1 million. In terms of cash sweep programs, Robinhood is the winner.

Cryptocurrency

Most coins with Robinhood Crypto and Webull Pay — through Bakkt Crypto Solutions — are held in cold storage. Both platforms offer two-factor authentication and are registered with FinCEN as a money services business. Both also carry crime insurance to help protect assets against potential loss, including cybersecurity breaches. Webull and Robinhood are tied here.

Fines

In June 2021, the Financial Industry Regulatory Authority (FINRA) fined Robinhood approximately $70 million, the largest financial penalty ever ordered by FINRA, for misleading customers regarding options trading and for outages experienced in March 2020.⁽¹⁾ Robinhood settled with FINRA, neither admitting nor denying the charges.

Likewise, in March 2023, FINRA fined Webull $3 million for not conducting proper due diligence before approving customers for options trading.⁽²⁾ Webull settled with FINRA, neither admitting nor denying the charges.

Webull vs. Robinhood: Which one’s better?

Webull offers more tradable assets, more advanced trading tools and similarly low trading fees.

While Webull caters to more advanced active traders, its user-friendly interface and educational resources also make it a suitable platform for beginners.

For these reasons, Webull wins.

Alternatives to Webull and Robinhood

Both Webull and Robinhood have limited investment options. If you’re looking to build a more diversified portfolio, plenty of options are available.

• E*TRADE. Brokerage account of investment bank and financial services company Morgan Stanley, E*TRADE offers a diverse lineup of investment options that span stocks, options, mutual funds, bonds, futures and certificates of deposit (CDs). It doesn’t offer fractional shares or an IRA match, but it does offer a robo-advisor for those looking to automate their portfolio.
• Public. Another broker that offers commission-free stock, ETF and options trading, with no options contract fees, is Public. Its unique tradable assets include traditional investments like stocks and ETFs but also alternative assets such as cryptocurrency, collectibles and music royalties. However, Public only offers taxable brokerage accounts, no IRAs.

See how even more brokers stack up

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