Robinhood vs. Webull: Differentiating the features and way platforms work

Robinhood vs. Webull: Differentiating the features and way platforms work Is stock trading something your forte, especially in the era of digital currency like crypto? If yes, Get ready to gear up and relish huge profits with new-age platforms like Webull and Robinhood. Both platforms are popular in their way, thereby choosing the one at times becomes quite tricky. Worry, No more!

Robinhood and Webull are amongst the top leaders in terms of investment, gaining an edge among the users. Millions of users globally are using both platforms at their peak to quickly trade and track stocks, options, and cryptocurrency. Webull clone apps are more popular these days than others.

For those looking to change their game within the stock market, these platforms give them a boost. Before that, knowing the Difference Between Webull and Robinhood is a must.

Webull is best at providing users with charts, statistics, and customer support to rock the trading with no commissions. Robinhood, on the other, is a versatile no cost easy to use mobile app. This US-based platform is known to start the concept of commission-free trading. It is best for beginners as compared to Webull, providing a more user-friendly interface.

Current Market Scenario of Robinhood And Webull Both Robinhood and Webull are leading the competitive market. Let’s have a closer look at the current popularity of both platforms in their respective genres. ● Robinhood is one of the best choices for traders who are active in the trading market. It comes with a cash management option. ● Webull, on the other hand, provides users with no to fewer investment options, including commission-free accounts and IRAs. ● Robinhood has tended to generate around $682 million in revenue in 2020, depicting a 514 percent increase in revenue year-on-year. ● In May 2020, Robinhood stated that it tends to have 13 million active users and is expected to reach 20 million in the coming year. ● Webull is the best online brokerage platform offering commission-free stocks, ETFs, and options. ● Users dealing within Webull are protected for securities and cash up to an aggregate of $150 million by Apex’s policy, with maximum individual customer limits of $37.5 million for deposits and $900,000 for cash.

Well, there is no end of comparison when it comes to Robinhood vs. Webull. Read to know the brief difference between Webull and Robinhood to make a wise decision when trading within the stock market.

Features Determining Robinhood Worthiness Some of the leading constraints that make Robinhood a boom hit in the market are as follows: ● Targets beginner investors ● Best for mobile users ● Individual taxable accounts ● Margin accounts

● Zero stock trading costs ● No account fees ● No annual, inactivity, or ACH transfer fee ● 24/7 Customer support ● User-friendly interface

Features Determining Webull Worthiness Top-notch feature that makes Webull a leader in the stock trading market. Let’s hear! ● Advanced trading tools ● Intermediate investors ● Active traders ● Stock trading costs ● $0 options trades ● No account fees ● No annual or inactivity fees ● Access to 11 cryptocurrencies ● Number of no-transaction-fee mutual funds

Difference Between Webull and Robinhood: A Clear Overview

CATEGORY

ROBINHOOD

WEBULL

Stocks and ETF

$0

$0

Options commissions

$0

$0

Account minimum

$0

$0

commissions

Tradable securities

Stocks, ETFs, options,

Stocks, ETFs, options,

cryptocurrency

cryptocurrency

Account fees

$75 transfer-out fee

$75 transfer-out fee

No-transaction-fee

No

No

Account types

Individual brokerage

Individual brokerage

management accounts,

margin accounts

Mobile app on the Apple

Mobile app on the Apple

App Store and Google

App Store and Google

Fractional shares

For purchases and

None

Customer support

Limited email and

Phone 24/7 and email

Account perks

Commission-free

Commission-free

shares, cash management

extended hours trading,

accounts, cryptocurrency

cryptocurrency trading,

Morningstar research

Nasdaq-sponsored data,

mutual funds

accounts, cash

margin accounts Mobile app

Play Store

dividend reinvestment chatbot

accounts, fractional

trading, margin trading,

accounts, IRAs, and

Play Store

availability, in-app chat

brokerage accounts,

margin trading,

and IRA investing.

Crypto Trading - Total

11

7

Promotion

Get one share of free

Open and fund a

stock after opening an

brokerage account with at

account and linking a

least $100 and get two

Coins

Mutual Funds - Asset Allocation Easiness

bank account.

free stocks.

It provides asset

There is no such

allocation

Best for trading

allocation within the mutual funds

Trading and investing in one

Robinhood vs. Webull: Which is better?

To know which is better, let’s get to the pros and cons of both platforms. Here we begin!

Robinhood Pros ● The best thing about the Robinhood application is it offers commission-free trading. Unlike other apps, it does not charge any penny for trading. There are apps you will find setting around a 1.5 percent trading fee for most transactions. Robinhood, on the other hand, does not have any such policy. ● Secondly, Robinhood follows 2 step verification with a cold storage facility to protect against crypto platform breaches. ● Next, Robinhood is highly intuitive with a user-friendly interface, making it the most popular application amongst users.

Cons ● The biggest drawback of using the Robinhood application for crypto trading is it helps to buy, hold and sell cryptocurrencies. It does not let users send or transfer cryptocurrencies to other wallets. ● Since there are several cryptocurrencies, Robinhood offers to trade to a limited number of cryptocurrencies.

● It does not allow diversification of cryptocurrencies to users, reducing its capacity to explore more.

Webull Pros ● It is one of the solid mobile applications with a next-level user interface. It is easy to use and work with as compared to other applications. ● There is no system of depositing minimum to some fees, which makes the platform better than others. ● Paper trading is highly available in it making it easy ● Another best thing it offers access to around 11 different cryptocurrencies diversifying the choices for the users.

Cons ● The drawback is that the application is not supported with good customer support as users fail to contact the experts. ● There is limited research on the platform, not letting customers explore their mutual funds, bonds, futures, or foreign exchange trading. ● There is no option to live chat, making the platform less user-friendly in some aspects.

Wrapping Up: Robinhood and Webull is a boom hit in the stock market. Robinhood Clone has bought trading within the digital currency to the peak. Whether investing, stock market, profit relishing, or so on, both the apps are gaining an edge. The above information depicting the Difference Between Webull and Robinhood hope gives you a clear mindset on which platform to choose for trading.

So now that you are well versed with the ins and outs of trading and looking to have a platform similar to Webull and Robinhood, what are you waiting for? Connect with the best app development company that offers top-notch tools and packaged apps helping you to trade efficiently. With advanced apps, it becomes easy for you to put your money to work. Hurry up for the new journey ahead!