Their fee for margins up to $1000 is only $5 per month and 5% thereafter, while Webull charges 6.99% for all margins under $25,000.
Robinhood also offers better margin trading fees for smaller amounts. Webull’s site indicates that it’s adding crypto at some point, but until then, if you’d like to trade crypto and stocks from the same platform, Robinhood is your best bet. As of March 2020, however, Webull has begun offering the former. Until recently, one of Robinhood’s chief advantages over Webull was offering both options and crypto trading. Your maximum performance and highest dividends will come from how you like to invest, since both platforms offer slightly different options. Robinhood charges $5/mo up to $1,000 or 5% over $1000, while Webull charges 6.99% up to $25,000, and the rest can be found in this chart. Robinhood is even offering a promotion where you’ll earn a share of stock just for signing-up.īoth platforms charge the standard regulatory fee ($22.10 per $1,000,000 of principle) and TAF fee ($.000119 per share, max $5.95), but no brokerage fees or commissions on top of that.īoth Robinhood and Webull offer margin investing, where you borrow money from the platform to invest. Unlike many larger and traditional brokerages, neither Robinhood nor Webull charges you fees for trades outside of their product catalog. The answer, of course, entirely depends on where you invest. With a slightly steeper learning curve and significantly more information at your disposal, Webull is considered a better overall platform for advanced traders. Webull does not allow you to trade crypto yet, but provides significantly more tools than Robinhood to inform trades of stocks, ETFs, and as of March 2020, options.
Like the reigning champ, Webull offers zero-fee, zero-commission trades with no minimum balance on an easy-to-use platform (though, again, SEC and FINRA fees still apply). True to its name, Webull launched in 2017 and, nostrils flared, charged directly at Robinhood. MoneyUnder30 is not a member of FINRA or SIPC.” About Webull Securities offered through Robinhood Financial LLC and Robinhood Securities LLC, which are members of FINRA and SIPC. All investments involve risk and the past performance of a security, or financial product does not guarantee future results or returns. Advertiser Disclosure – This advertisement contains information and materials provided by Robinhood Financial LLC and its affiliates (“Robinhood”) and MoneyUnder30, a third party not affiliated with Robinhood. The app is considered superbly beginner-friendly, though lacking in advanced features to satisfy some advanced traders. The app claims to have saved its users over $1 billion in commissions since launch.Įven among increasingly fierce competition, Robinhood continues to stand out for its simple, easy-to-use platform and wealth of trading options. Robinhood enables you to trade stocks, ETFs, options, and more recently, cryptocurrency. The platform also requires no minimum balance. Robinhood made big waves when it launched in 2016 for being both incredibly easy to use and charging zero commission and zero fees on trades (SEC and FINRA fees still apply). Morningstar, balance sheets, cash flow reports, streaming Morningstar (Robinhood Gold required for $5/mo.) Stocks, Options, ETFs, Crypto (coming soon) The purpose of both platforms is to empower investors to quickly and easily trade stocks from their phones (Robinhood offers other commodities like crypto, but more on that later). Plus, your investments in either are protected and insured by the Securities Investor Protection Corporation (SIPC). Both are regulated by the Security and Exchanges Commission (SEC) and the Financial Industry Regulation Authority (FINRA).
Robinhood and Webull are mobile app-based brokerage platforms. Auto Loan Interest Calculator: Monthly Payment & Total Cost.
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