webull vs robinhood

Check our Webull vs Robinhood review and see which free investing app is right for you. In this guide, our team of investment professionals will compare the features found in both the Webull App and the Robinhood App. You'll also learn about pricing, how to get free stocks, and the pros and cons of each platform. For more information, you can also check out the individual Webull review and Robinhood review.

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Webull and Robinhood are some of the best commission-free stock trading Apps. This means that you’ll be able to buy and sell stocks, ETFs, options, and even cryptocurrencies directly from the palm of your hand. This can all be done without paying a penny in commissions.

Deciding between Robinhood vs Webull without having side-by-side facts means leaving things to chance. But, that’s the last thing you want to do, especially when we’re talking about choosing a broker.

Moving forward, we’re going to compare Webull vs Robinhood breaking down both of these free stock trading Apps. We’ll look at their features, what you can actually do with these apps, and we’ll share some pros and cons. This all coming from someone who actually executed trades on both Robinhood and Webull.

Let’s get started…

What is Robinhood? What Is Webull?

robinhood or webull

Robinhood and Webull are both zero-commission online trading apps that offer traders the ability to invest in stocks, options, ETFs, and cryptocurrencies on the go. Webull is a newcomer in the mobile trading App sector that came on the scene back in 2018. At the same time, Robinhood has a much longer history dating back to 2013

Now, let’s further explore these free investing Apps.

What Is Webull?

Webull is an all-in-one multi-asset mobile trading platform. Webull stock trading App offers $0 commission trading for both beginners and professional traders.

Next…

What is Robinhood?

Robinhood is a multi-asset investing platform that offers $0 commission trades on easy-to-use products (stocks, options, ETFs, and cryptocurrencies).

Now…

To open a brokerage account with Webull and to apply for a Robinhood account, you need a couple of requirements:

  • It’s exclusive to US citizens (unfortunately overseas traders won’t be able to open a Webull account).
  • You need to be 18 years old.
  • You need to have a valid social security number (SSN).
  • You need to have a legal address.

The Webull App and Robinhood App are available on all mobile devices:

  • iOS (download Webull and Robinhood from the App store)
  • Android (download Webull and Robinhood from the Google store)
  • Webull desktop and Robinhood web are compatible with Chrome, Safari, Firefox, and Edge (both PC and MAC users)

Now, it remains only one question to answer:

Robinhood or Webull?

To give you an answer, we have tested both free investing Apps to see which is better.

You’ll find the answer below:

Webull vs RobinHood – The Battle of The Giants

Webull review

If you’re looking to learn more about these free investing platforms you have landed in the right place.

What’s the real difference between the Robinhood and Webull platforms? This is exactly what we’re about to cover in this section.

Robinhood completely disrupted the brokerage industry back in 2019 as they were the first brokerage firm to enable zero commission trading. This revolution has opened the path for a wave of new free stock trading apps like Webull or M1 Finance and FirstTrade.

The more competition there is the better trading conditions and features these popular free investing platforms have to offer for investors.

With that in mind, we’re going to compare the main features of Robinhood and Webull and their characteristics.

See below:

Webull vs Robinhood – Trading Platforms for Beginners and Advanced Traders

Webull vs Robinhood

Robinhood platform is more geared towards beginner traders while Webull platform is more geared towards advanced traders.

That’s not to say that Webull can’t be used by beginners. Quite contrary, the Webull paper trading account feature can give novice traders the chance to fine-tune their skills before putting on the line any real money.

On the other hand, Robinhood App doesn’t offer a stock paper trading account.

If you’re a complete beginner with no prior experience you can try Webull paper trading account. Once you have perfected your trading skills you can then chose the Robinhood platform which is easy-to-use.

Note* On the downside, the Robinhood platform has limited functionality compared to Webull.

Robinhood lacks the research tools and sophisticated charting package, which makes Webull superior due to its extensive analysis tools,  depth of news and comprehensive suite of research tools and fundamental analytics.

So, Webull took Robinhood to the next level.

Next….

Let’s see, which is the most popular free trading app in 2020.

See below:

Webull vs Robinhood – Market Share

Webull review

The Robinhood market share has grown to 10 million active accounts and is now valued at $8.3 billion brokerage firm. On the other hand, Webull has also rapidly grown in market share and in the past two years has attracted 9 million users.

The most popular stock trading app is clearly Robinhood which has a much longer history than Webull. However, the Webull app remains the biggest threat to Robinhood.

Moving on…

Let’s see, which investment app between Webull and Robinhood offers the best free stock promotion.

See below:

Webull vs Robinhood – Which gives you More Free Stocks

Webull vs Robinhoood

The simplest way to buy stocks is to open an account with Webull or Robinhood as both trading platforms offer FREE stock when you sign up.

In this section, we’re going to break down how much are free stocks worth on Webull vs Robinhood.

Based on our Webull review, if you open and make an initial deposit of $100 in your Webull account, you can get 2 free stocks that have a combined value up to $1,650. On the other hand, the Robinhood free stock program only gives you 1 free stock worth up to $200 when you open an account.

Additionally, Webull also has a refer-a-friend program where you’ll get 2 free stocks that have a combined value anywhere between $24 and $2,800 if you refer one friend.

The Robinhood referral program is inferior to Webull because it only gives you one free stock when you refer to a friend. Robinhood limits the total free stocks per year that you can get to $500.

Now, the winner that gives you more in free stocks is definitely Webull.

Webull free stocks are worth a lot more than Robinhood free stocks.

Moving on…

Let’s see, which investing up is the best in terms of extended market hours access.

See below:

Webull vs Robinhood – Extended Market Hours

Webull vs Robinhood margin

Both brokerages, Robinhood and Webull added free extended-hours trading on their platform

Now even though both Webull and Robinhood offer during pre-market and after-hours sessions, Robinhood only offers 2.5 hours of extra trading access compared to 9.5 hours of extra market access offered by Webull.

Here is a side-by-side comparison between Robinhood vs Webull:

  • Robinhood pre-market hours from 9:00 AM to 9:30 AM versus Webull pre-market hours from 4:00 AM to 9:30 AM EST
  • Robinhood after-hours trading from 4:00 PM to 6:00 PM versus Webull after-hours trading from 4:00 PM to 8:00 PM ET

The amount of time you can trade on Webull is bigger compared to Robinhood App.

Next…

Let's compare Robinhood vs Webull margin rates and see which investing app gives you access to more capital.

See below:

Webull vs Robinhood Margin Trading

webull vs robinhood margin

Both Webull and Robinhood apps offer investors the ability to trade on margin.

For starter, we need to point out that Robinhood is more geared towards investing rather than active trading. Robinhood wasn’t designed with the goal to cater to active traders, which is why Webull is superior to Robinhood.

When comparing Robinhood vs Webull, the lowest margin rates are offered by Robinhood.

To access margin trading on Robinhood App, you need to apply for a Robinhood Gold account, which requires a minimum investment of $2,000. Webull app also requires a minimum investment of $2,000 to trade on margin.

In terms of the margin rates, Robinhood charges $5 per month for margins up to $1,000 and 5% over $1,000. Compared to Robinhood, Webull offers 4:1 day trading leverage and 2:1 overnight leverage. The Webull annual margin rate is 6.99% on loans under $25,000.

Moving on…

We’re going to look into how safe is to trade with free investing platforms and how they work.

See below:

Is it Legit? How does it Work?

Trading on Webull and Robinhood is as safe as trading with any major stock brokerage trading firm.

Both Robinhood and Webull are regulated by the world’s biggest regulatory body in the world the Securities and Exchange Commission (SEC). Additionally, your funds are also protected up to $500,000 covered by the Securities Investor Protection Corporation (SIPC).

Now, let’s see how can you use Webull and Robinhood?

Buying and selling stocks on Webull and Robinhood is as easy as following this 7 step process:

  • Step #1: Open an account with Webull or Robinhood and deposit at least $100.
  • Step #2: Browse your favorite stock to buy.
  • Step #3: Navigate to the stock's Detail page.
  • Step #4: Tab Trade bottom left of Webull screen (bottom right on Robinhood screen).
  • Step #5: Select whether you want to buy or sell.
  • Step #6: Select the number of shares you want to buy or sell and the price.
  • Step #7: Place your Order by tapping “Buy” (Swipe up to submit your order on Robinhood).

Next…

We’re going to outline how to begin transferring your stocks from your existing brokerage into your Robinhood account and vice versa from Robinhood to Webull.

See below:

Can you Transfer Stocks from Rbobinhood to Webull?

webull day trading

The obvious answer is that you can transfer stocks from Robinhood to Webull. More, you can also transfer stocks from Webull to Robinhood.

If you’re unhappy with your Robinhood experience you can switch over to the new investing app Webull.

So, how can you transfer stocks from Robinhood to Webull?

Follow this step-by-step guide to transfer your whole stock portfolio from Robinhood to Webull:

  • Step #1: Open a Webull trading account.
  • Step #2: Makes sure you are only transferring stocks from Robinhood cash account to Webull cash account or Robinhood margin account to Webull margin account. The account types must be identical.
  • Step #3: Complete the Webull Transfer Stocks application with your Robinhood account number.
  • Step #4: Decide if you want a Full transfer that moves all your stock holdings or a partial transfer, which gives you the option to transfer between the cash amount in your Robinhood account and open positions.
  • Step #5: Double-check and make sure everything is right and then submit your stock transfer request.

Note* Transferring stocks from Robinhood to another brokerage trading firm comes with a $75 fee. However, Webull will reimburse the transfer fee.

Now…

How long to transfer stocks from Robinhood to Webull?

The Robinhood stock transfer to your new Webull account on average takes between 5-7 business days for the transfer to be completed.

You need to be aware that delays may occur in two instances:

  • If you transfer between different account types
  • If you have any activity in your Robinhood account like unsettled stocks, ACH transactions, etc.

The easiest way to go about your Robinhood stock portfolio would be to sell all your stock holdings on Robinhood and take your money out, deposit your money into Webull and then buy again.

However, liquidating your Robinhood stock portfolio has many disadvantages, so it’s better to transfer your stock from on trading App to another trading app.

Final Words – Webull Review

In summary, both Webull and Robinhood are 100% free, 100% commission free and there is no string attached to open an account with either one. There has never been a better time to invest in the stock market like today. The day-to-day stock market volatility is at the highest level it has been in the past 100 years.

Both Webull vs Robinhood margin accounts offer investors to day trade the stock market and take advantage of the record-breaking volatility.

Webull vs Robinhood summary:

  • Both investing apps offer commission-free trading on stocks, ETF, options, and cryptocurrencies.
  • Robinhood only offers individual (cash and margin) account type while Webull offers Individual, Traditional IRA, Roth IRA.
  • Both trading Apps have account minimums of $0.
  • Webull offers paper trading while Robinhood doesn’t have a demo account.
  • Webull free stocks are potentially worth up to $1,650 compared to Robinhood’s $200.
  • Webull mobile platform is designed for advanced traders while the Robinhood platform is designed for beginner traders.
  • Robinhood only offers 2.5 hours of extra trading access compared to 9.5 hours of extra market access offered by Webull.
  • You can transfer stocks from Robinhood to Webull and vice versa.

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