We are going to tell you a detailed comparison of Webull Vs Robinhood along with their pros and cons in this article so that you can start your trading and investment journey by selecting any of them at your convenience.
There are a few things that you should keep in mind while starting the journey of trading or investing. Long ago in the past time when there was no concept of the internet or digital medium, people used to do trading physically, but a couple of decades ago, since one internet was involved and trading & investing were devitalized, people are doing trading with the help of various web platforms which offers to invest in the stock market.
Now we have online brokers with which we trade or invest in the stock market. Webull and Robinhood are two of them. Webull and Rohinhood are two of the most popular trading platforms in the United States.
So if you are a beginner and haven’t entered the market or if you are using any other trading platform and want to shift to those aforementioned platforms because of their own benefits, you might want to know which of these platforms are better to trade, keep reading the post because, in this post, I am going to discuss which is better among Webull and Robinhood.
Let’s first discuss some –
Common things and features are available in both Webull and Robinhood
First of all, these two are online broker platforms that have their own web and mobile platform. This means that you can do trading using both their website and iOS and Android app.
The second similarity between them is that both of these platforms offer trading with zero commission. Unlike other apps/platforms where you have to count commission or, better to say, brokerage for every trade that is executed, you don’t need to pay any commission for trading.
You can trade common stocks and exchange-traded funds (aka – ETF). They even offer commission-free options trading also. This is why people choose these two platforms rather than many platforms that charge commissions for trading.
The world is changing, and millions of people are interested in investing in cryptocurrency. So how good it would be if your stock borking app had the option to trade cryptocurrency? Both of these platforms, which we are talking about, allow you to trade in cryptocurrency.
Both of these brokers are good trading platforms to start the stock market journey with. As both Webull and Robinhood offer a clean interface of stocks, that’s why it becomes easy to start for a beginner. The navigation of all these platforms is easy, and both of these have commonly required features.
None of these platforms requires any minimum balance to invest in stocks which is obviously a very positive side for the beginner.
New investors don’t have enough capital to buy even 1 unit of shares like NVR Amazon. That’s why brokers have come up with new ideas that let users invest in that stock without even purchasing the full 1 unit stack. This way of investing is called fractional investing. Both of these apps let their investors invest in share infractions.
Now, let’s come to the common downside of these apps-
While trading, it becomes important to track the market trend to set the bid or ask price. Market depth is the most and probably the only way to track the market trend of trailers at a point in time. But both in Webull and Robinhood, market depth is not free of cost. To see the market depth, you have to pay an additional fee, though when you first sign up for these platforms, they offer you this service for free.
To do day trading, you will need to give a minimum of $25,000 in your trading account, and if you want to get the margin feature, you will need to have more than $2000 in the wallet.
As we have learned some popular similarities between Webull and Robinhood, let’s talk about Webull Vs Robinhood.
Differences between Webull and Robinhood
A great difference between Webull and Robinhood is that Webull offers an auto stock screener with which you can get much information about a stock which will surely help you select stocks for investments.
Now you may wonder –
What screener is –
The screener contains certain information about certain stocks from which we can know the stock’s fundamentals. Not only the fundamentals but also if we want to know the technicals of the stocks, for example, some trading indicator that helps determine the stock’s upcoming movement, the screener shows them very cleanly.
Webull gives you a stock screen powered by robot intelligence, but in Robinhood, you will not get it.
In bear market people, you usually don’t want to buy stocks; rather, they want to sell some stocks for the short term. Many people do short-term selling on an intraday basis. If you would also like to do short storm selling, we advise you to use Webull because Webull offers you to sell stocks for the short term, but Robinhood doesn’t. However, you will need to have at least the marginal money to sell short-term stocks in Webull.
For various kinds of reasons, customer needs to communicate with their broker. In our experience, we have got better customer support from Webull compared to Robinhood. For the exact hours of support, you may visit the websites of those respective companies.
If you are planning to invest for retirement, you should not go with Robinhood because Robinhood does not have any retirement planning scheme or option, whereas Webull offers various kinds of retirement plans.
Robinhood has its own advantages. The advantage is in its cash management system. You can even earn interest on the money that is sitting on your Robinhood account because it will create a savings account whenever you create an account in it. You will get features like a debit card and even get a credit card if you have enough account balance.
We are talking about fractional investing and why you don’t have to buy 1 unit of the stock to invest in it. Robinhood offers a variety of stocks for fractional investment, whereas Webull has few stocks & ETFs in this case.
As we talked about Webull vs Robinhood, it would be better to discuss which app is better for beginners. Both of these apps are for intermediate-level people who know some good facts about the market, but though beginners can start with Webull, we would not live to recommend Robinhood to the absolute beginners.
Now, let’s quickly note some pros and cons of both Webull & Robinhood-
- Interest can be earned even on the account balance.
- Some banking-like features are also available.
- Cryptocurrency trading.
- Not ideal for getting started with.
- Customer care could be better.
- Comparatively better for beginners to get started with.
- Easy to navigate and explore.
- Short-term selling available.
- Lesser options for fractional investing.
Why would you choose Webull?
If you want to enter the stock market for full-time trading or investing, you should start with Webull because Webull provides a much better interface for beginners and provides the most commonly required tools for intermediate and professional investors. Many professional investors use this platform for investment.
If you are planning to invest for retirement, Webull may be the best option in the view of Webull vs Robinhood.
Why would you choose Robinhood?
Robinhood is mostly recommended for investors who have some experience in the market. Robinhood is even better for professional investors compared to Webull. Though we have discussed it previously, Robinhood has a good cash management system, which is why investors choose Robinhood.
An important message:
Here we have discussed two of the most popular investment apps. Both of these platforms have their own advantages and disadvantages, which you may have learned from this article. It is on you which investing platform you will choose. If you want, you can use both Webull & Robinhood.
Conclusion of Webull Vs Robinhood
In this article, we have tried to discuss all the possible facts, including the pros and cons of Webull and Robinhood. We think that this article will help you choose the better investment app among these two. If you have any other questions, you may ask us using the comments section. We hope that the clash of Webull vs Robinhood has got clear now.