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Robinhood vs Webull similarities
Robinhood has been around since the beginning of time and was among the first brokerage app to lead the charge in offering $0 commission fees for US-based equity and now options trading. The popularity of Robinhood led to the direct competitor in Webull, which offers the very same $0 commission fees for trades. Webull and Robinhood also cater to an investment audience that loves mobile trading. Thus, the user experience and interface to their respective mobile apps are simplistic by nature and easy to use through using just about any mobile phone. In terms of advanced mobile trading features, Webull caters more towards the more intermediate and advanced audience.
Webull was established in 2017 with its headquarters being established in Wall Street in New York City. Webull offers commission-free trading of stocks, ETFs, and options.
Webull is a member of SIPC and a registered broker-dealer with the Securities and Exchange Commission. Additionally, Webull is a member of the Financial Industry Regulatory Authority, the NYSE, and NASDAQ.
In November 2020, Webull began supporting cryptocurrency transactions within Webull’s mobile app.
The case for Webull
Although the user interface may take a while to get used to, Webull is designed for the more intermediate and advanced mobile trader. However, don’t let the interface scare the novice investor. Play around with the user interface a bit and you will quickly realize that the app is very intuitive and responsive similar to Robinhood, but with extra features to help bring your trading game to the next levels using metrics like RSI, volume, and order books with increased transparency.
Benefits of the Webull App
- All trades have $0 fees and are commission-free for US-based stocks
- No account minimum required
- No maintenance fees
- Access to free virtual trading with paper money
- Intuitive and user-friendly mobile app for trading in real-time on the go
- Smart alerts and notifications
- Receive industry news and analyst ratings on stocks you want to be covered
- Financial calendar for earnings calls, dividend releases, and company IPOs
- Pre-market and after-hours trading for everyone
- Webull offers IRA accounts including a Roth IRA
- Webull offers trading simulations and paper-trading for novice investors starting off on their platform
Webull offers commission-free trading of stocks, ETFs, and options. The brokerage even offers incentives for investors with large deposits (up to 50 free stocks promotion) and even offers instant deposit for pending cash transactions into Webull’s platform. Webull plans on adding more features that rivals Robinhood as the company continues to grow.
Robinhood Markets, Inc. is an American financial services company headquartered in Menlo Park, California, known for offering commission-free trades of stocks and exchange-traded funds via a mobile app introduced in March 2015.
Robinhood is a FINRA-regulated broker-dealer, registered with the U.S. Securities and Exchange Commission, and is a member of the Securities Investor Protection Corporation.
How does Robinhood make money?
The company’s revenue comes from three main sources: interest earned on customers’ cash balances, selling order information to high-frequency traders (a practice for which the SEC opened an investigation into the company in September 2020), and margin lending. As of 2020, Robinhood had 13 million users.
The case for Robinhood
Robinhood makes investing easy for beginners with its beautiful user interface, which may actually gamify investing. Moreover, Robinhood offers the following perks:
Benefits of the Robinhood App
- Commission-free trading of stocks, ETFs, and options
- No account minimum required
- No maintenance fees
- Fractional shares trading
- Interest earning cash accounts
- Margin investing account through Robinhood Gold
Which trading platform is better: Robinhood or Webull?
Webull is the preferred investment platform. Although Webull may seem a bit complicated at first in comparison to the simplistic UX/UI of the Robinhood App, you will grow an appreciation of the advanced features of Webull to improve your trading strategies and decision-making over time.
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