Want to try out some investment platforms, but don’t know which one to use? We will give you a rundown of all the features Webull and Robinhood provide!
Robinhood was one of the first to emerge with an app to provide investment opportunities. It was something that took many people to wrap their heads around. Now it is so commonplace that there are a wide variety of options to choose from for your investment endeavors.
Here we will compare these two companies, Webull and Robinhood, to see what one may have to offer over the other.
Table of Contents
- 1 What is Webull?
- 2 What is Robinhood?
- 3 What makes Webull and Robinhood different?
- 4 Bottom Line
What is Webull?
Webull is an all-in-one self-directed investment platform that was once a research platform. This shows that they are a more well-thought and advanced platform. Webull is directed primarily towards those who are intermediate or advanced in the investment world.
(Sign up now at Webull for two free stocks)
What is Robinhood?
Robinhood is a commission-free investment platform that works diligently to remove any obstacles that may prevent individuals from investing. They are primarily geared towards beginner investors through a sleek, easy to use design and layout.
(Sign up now at Robinhood for a free stock)
What makes Webull and Robinhood different?
Webull and Robinhood are both investment platforms and have some similarities, however they differ in some ways as well. Let’s explore those features.
Their Target User
Although these two apps are the same type, they are not meant for the same type of people. Robinhood is geared more towards beginning investors who are just starting out and have no idea what they are doing.
On the otherhand, Webull focuses on active traders who are intermediate or advanced users. They have more advanced market data that requires a little bit more knowledge than those just starting out.
Robinhood offers many investment options. This includes commission-free investments in stocks, ETFs, and options. They also extend a possibility to invest in cryptocurrency, which allows users to buy and sell Bitcoin, Ethereum, Dogecoin, and more! Unfortunately, Robinhood does not offer mutual funds, bonds, and over the counter stocks, similarly to Webull.
Webull does not offer as many investment options as Robinhood, but they do carry 5,000 stocks and ETFs. They also have ADR investment opportunities, but this does not include cryptocurrency, mutual funds, bonds, or over the counter stocks. Soon, they will be offering options trading.
Robinhood is available for both mobile and web-based use. Since it was made with beginner investors in mind, their investment platform is straightforward and easy to use with an aesthetically pleasing design.
Webull is also available for mobile users, and can also be used on the web or downloaded. However, their platform is much more sophisticated and contains more time invested into the investment side rather than the design side.
Paid vs. Free Options
Both of these investment platforms offer free services, but the services they offer differ.
Robinhood has a paid account starting at $5/month that is called Robinhood Gold. This account requires a minimum balance of $2,000, but it allows users to gain access to trading on margin, extended trading hours, and bigger instant deposits.
Webull grants users access up to 4 times to their deposit in margin without having to pay for a monthly subscription, although it does require the same $2,000 minimum balance in the Webull margin account. Additionally, Webull does not charge for a extended trading hours. The only thing that users may have to pay extra for is the real-time global market data, and only U.S. market data is free.
A financial calendar is a feature that Webull offers, but Robinhood does not. Webull’s financial calendar shows:
- What the upcoming IPOs are
- What companies are reporting earnings over the next month
- What companies are paying out dividends
This information is mainly something that active investors love to see.
The support options are where these two investment platforms are similar. They both provide email support and online support in the form of a help center. They also do not offer any phone support, with no phone number listed anywhere on their websites.
Webull offers the ability to set price alerts when a stock hits a specific price point that the user sets in the form of a notification. Robinhood does not offer this feature.
This is another feature that Webull offers that Robinhood does not. Short selling is a high-risk, high-reward strategy where investors may sell stock in hopes to buy it back at a lower price for profit. This is the short-selling commission-free design of Webull.
Yet again, Webull has a feature that Robinhood does not offer, which is a free trading simulator. This allows individuals to “practice” trading by testing out trading strategies to view likely results.
Webull and Robinhood both offer the same types of accounts to their users. They offer Cash Accounts and Margin accounts.
- Cash Accounts do not require a minimum balance. These accounts just need funds to make investments.
- Margin accounts are required to have a $2,000 minimum due to the Financial Industry Regulatory Authority (FINRA) regulations.
These two companies do not offer retirement accounts.
New Account Promotions
For the most part, Robinhood and Webull offer the same promotions for new members.
Robinhood will give new users a free share of stock, valued between $3 and $150, when you sign up.
Webull will similarly give new users a free share of stock, but worth $5 to $500 for completion of opening an account within 24 hours. Additionally, they will give their new users another share of stock valued at $12 to $1,400 after $1oo+ is deposited into the new account.
Robinhood and Webull are both investment platforms, but they each have unique qualities about them. Webull does have more features, but it may be best to base your decision on your skill level. If you’re new to investing I’d suggest trying Robinhood, and for those who are more advanced may want to try Webull, but the choice is yours!
If you would like to learn more about investment, check out our post on How to Invest Money!