Webull vs. Robinhood: Which Is The Best Free Investing App?
In recent years, we have seen the release of many tools designed to make investing easier for people of all skill levels.
Two of the most popular platforms on the market right now are Webull and Robinhood.
Both are investment apps that you operate primarily from your smartphone, and neither of them charge commission fees, which drastically decreases the financial barrier to entry for investing.
Although these stock trading apps have plenty of similarities, they also have different features and are designed for different target audiences.
In this article, we’ll compare Webull vs. Robinhood, so you can decide which of these investment platforms is best for your needs.
Who is Robinhood for?
Robinhood is a very accessible platform that’s perfect for the beginner trader.
It’s actually one of the most popular free investment tools available right now, and it has a wide range of features that are intended for someone who has never invested before.
You can trade stocks and ETFs as well as options and cryptocurrencies using their simple interface.
While this platform is excellent for beginners or casual investors, active investors may find it somewhat limiting after a while.
Who is Webull for?
Webull provides free stock trading for someone who already has a bit of investment experience.
Although you don’t need to be a pro to use the platform by any means, it is a bit overwhelming for someone who is a total beginner.
This app allows you to trade both stocks and ETFs, and it has a variety of advanced features that are designed for active trading.
Robinhood Key Features
Robinhood prides itself on being a simple (some times too simple…), accessible platform that will save you money while you are investing.
The best feature of Robinhood is the interface – it’s very simple and easy to pick up, and you can make your trades very quickly.
On the interface, you’ll see your current account value and your transaction history, and you’ll also see the current value of selected portfolios and any watch lists that you have created.
When browsing through companies to invest in, you can see their current value as well as their performance history and an overview of analyst ratings and news.
You can search via Robinhood’s collections feature. This sorts companies by categories that might be of interest to you, such as companies owned or run by minorities, or companies in specific industries. You can access all of these features on the app or on the desktop site, depending on your preference.
The investments themselves are also a huge advantage of using Robinhood.
When compared with other simple online investment platforms, Robinhood is one of the only ones that doesn’t charge hidden fees.
There’s no minimum deposit to get started either. For a free investment platform, there are quite a few different investment options – stocks and ETFs, but also options and crypto, which Webull doesn’t currently have.
If you want advanced features, you may want to consider upgrading to Robinhood Gold, which is their subscription service.
It costs $5 per month (plus 5% annual interest based on how much margin you use) and gives you access to advanced features that you don’t get with the main subscription, depending on the financial size of your account.
The biggest advantage of Robinhood Gold is that you can trade on margin, which is slightly riskier but can have higher rewards. Robinhood Gold also gives you access to extended hours trading from 9 AM to 6 PM, so you have a few more hours per day to trade than you would with the free service.
Webull Key Features
Webull has a wide range of tools available for active traders.
You can trade stocks and ETFs, and you have the option for short selling as well.
Like Robinhood, it is commission free and does not require a minimum balance. It’s one of the only places where you can trade on margin without any fees. It’s also excellent because it offers after hours trading from 4 AM to 8 PM, which is one of the widest trading windows offered by a commission free platform.
Currently, trading is only done through the app, but Webull is working on building a desktop site as well.
Webull offers real time market data with technical indicators, so you can really dive deep into the investments you are making.
When you are actively trading, you need extreme accuracy on prices, so this is very helpful. Domestic market data is free, and if you want access to global market data as well, you can pay a monthly fee.
You can choose from 22 different technical indicators when making your investment decisions.
One of the other incredible features that Webull offers is its virtual trading simulator and paper trading.
If you want some active trading practice before diving into the real thing, this feature is going to be incredibly helpful for you. The simulator helps you learn more about new trading strategies and test out concepts before you put them into practice, so you will be much more likely to achieve trading success.
Webull also keeps you completely plugged in to the world of finance, which helps you make smarter, more informed decisions when trading. They have an in-depth finance news feed that’s well-designed and fun to read.
They also have an up-to-date financial calendar that keeps track of important dates for earnings releases, IPOs, dividend payouts, and anything else you might need to know about your stocks.
If you are interested in a particular company, you can set smart alerts for that stock to see when it hits a certain price, volume, or rate of change so you can act quickly.
Finally, you can see in-depth analyst ratings of any stock on the platform.
Webull offers analyst ratings from a variety of different professionals, and you can see the ratings trends over time.
Who Has The Better Promo Offer?
Ok, this is a no brainer. Webull takes the cake by far.
Webull’s current promo is a free stock for a total POTENTIAL value of $1,000.
Plus, they are always running additional contests and promotions for their current users once you have an account. They also have a referral program where you can keep earning more.
You get 1 free stock when you create an account. The value of the stock ranges from $2 up to $200.
Here are the odds:
Advantages and Disavantages of Robinhood
There are many advantages to using Robinhood for free stock trading, particularly if you have never invested before.
The biggest advantage is its simplicity. Robinhood is something you can pick up right away, and the interface is beautiful and very easy to navigate through.
Many people choose to stay away from investing, thinking that it will be overwhelming, but Robinhood is really aiming to change that.
They are even planning to launch a cash management tool soon to help users use their money even more effectively.
The other advantage of Robinhood is the variety of trading options available.
You can trade stocks, ETFs, options, and cryptocurrencies, so there is a little bit more variety in what’s available to you.
Robinhood is also available on both app and desktop, which Webull doesn’t have yet.
The downside of Robinhood is that it just doesn’t have the features necessary for active trading.
Traders who want to go beyond the beginner level don’t have many options to expand their skills. The advanced options that are offered require a monthly subscription to Robinhood Gold.
The after hours trading is also quite limited – even with a Robinhood Gold subscription, you can only trade between 9 AM and 6 PM.
The other major downside of Robinhood is their customer service system.
This free trading app only offers customer service via email, so you don’t get the instant gratification of talking to someone on the phone.
While you can find a variety of answers on the Help Center on their website, if you want the instant gratification of someone helping you, you might find this quite frustrating.
Webull Advantages and Disadvantages
The biggest advantage of Webull is that it is really the only option for intermediate level active trading that does not charge commission fees. Active trading can be quite difficult to get into without a certain amount of money, but Webull eliminates this barrier to entry.
The features are incredibly helpful for those who want to get into more advanced trading.
You have access to up-to-date news and market analysis, as well as the virtual trading simulator, which will help you practice your trading strategies.
There’s more flexibility as to when you can trade as well – they’re open from 4 AM to 8 PM.
There are some downsides to using Webull, particularly if you are a total beginner.
Since there are so many different features, it can be quite difficult to navigate at first if you’ve never invested. You are also limited to only stocks and ETFs, and you can only trade on your phone – there’s no desktop app available yet.
Final Thoughts on Webull vs Robinhood
When comparing Webull vs. Robinhood, there’s no one clear winner…
While both platforms offer free stock trading without commission fees or account minimums, they target different markets.
Robinhood is excellent for total beginners and casual investors who want convenience.
Webull is best for intermediate level active investors who want more in-depth research and tools.
When choosing which app you want to use, it really just depends on your investment preference. Since they’re both free, it’s worth giving them both a try to see which you personally enjoy more.
P.s. Don’t FORGET which ever company you choose, make sure to use a promo link to get your free stocks.
Heck, if you were smart, you would create an account on BOTH, collect the free stocks and then let me know in the comments which one you prefer. (Both are 100% free)
Here is the Webull Promotion Link (free stock up to $1,000)
Here is the Robinhood Promotion Link (free stock up to $200)