A newcomer to the realm of brokers, Webull is well known for offering investors extended trading hours, commission-free investing and more options to contact customer service. However, the platform may not appeal to every type of investor. If you’re unsatisfied with Webull, our guide to Webull alternatives will help you invest with confidence.
Best Webull Alternatives
- Best for Global Capacity: Interactive Brokers
- Best for Simple Trading: Robinhood
- Best for Futures Trading: TradeStation
- Best for App Features: Moomoo
- Best for Cryptocurrency Trading: Coinbase
Looking to get started with investing or transfer your account from Webull? Consider a few of our favorite alternative brokers below.
Best for Global Capacity: Interactive Brokers
Interactive Brokers stands out from the pack when it comes to resolute lowest-cost access the widest global range of products and markets. The first among online brokers to trading as low as The first among online brokers to trading as low as The first among online brokers to trading as low as $0 commissions for US stocks & ETFs, Interactive Brokers is also Benzinga’s #1-rated broker for Mutual Funds, Bond, International, Short Trading and more commissions for US stocks & ETFs, Interactive Brokers is also Benzinga’s #1-rated broker for Mutual Funds, Bond, International, Short Trading and more commissions for US stocks & ETFs, Interactive Brokers is also Benzinga’s #1-rated broker for Mutual Funds, Bond, International, Short Trading and more. IB clients earn extra income from their fully owned shares via their Stock Yield Enhancement Program, and they enjoy enhanced pricing via IB’s SmartRouting technology.
Plus, Interactive Brokers provides the absolute lowest margin loan rates in the industry. It’s no wonder that active traders & investors from over 200 countries and territories invest globally in Stocks, Options, Futures, Forex, Bonds, and Funds from a single integrated account at the lowest cost across Interactive Brokers award-winning platforms.
Pros
- This platform works for novice and advanced investors
- You can take advantage of unique assets and tools at any time
Cons
- You may feel like the platform is far too complex for you
Best for Simple Trading: Robinhood
One of the first investing platforms aimed at beginner investors, Robinhood offers new traders an intuitive and inviting way to explore the market and get started with their first trades. Swipe, tap and flick through some of the most popular investment opportunities on the platform and place a trade in as little as a few seconds.
In addition to a simple and straightforward platform, Robinhood also offers a few unique opportunities to learn about the market and the types of orders you can use to buy and sell stocks.
For example, Robinhood offers an excellent introduction to options trading and the types of options orders you can place with its in-app guide. Though Robinhood offers access to fewer securities than Webull, its easy-to-master app and desktop platform can be welcoming for completely new investors.
Pros
- This platform helps you save money and time
- You can even save uninvested cash
Cons
- The platform has a history of halting or stopping trading
Best for Futures Trading: TradeStation
Futures contracts allow you to invest in predictive price movements of commodities, precious metals, bonds and other types of assets. TradeStation is one of our favorite platforms for futures trading, with comprehensive analysis tools and a wealth of platforms to choose from.
Though TradeStation doesn’t currently offer free trading for futures contracts, the broker makes it easy to learn more about the market and invest in this security type not offered by many other retail trading platforms.
TradeStation also boasts a massive selection of educational tools, as well as basic cryptocurrency trading and access to options, ETFs, stocks and more.
Pros
- You can easily diversify your portfolio with this platform
- The platform keeps costs low for you
Cons
- Remember that futures can be quite risky
Best for App Trading: Moomoo
Moomoo is an intuitive investment and trading platform with easy-to-use and professional tools, data, and insights that equal a pro-level trading experience for all traders, no matter their level of expertise.
When you open a brokerage account with Moomoo Financial Inc, features will include:
- Real-time Level 2 stock and options market data for funded accounts
- Advanced technical indicators
- Unique charting tools
- Advanced options orders
- Full extended trading hours from 4 AM to 8 PM EST
- Multi-market quoting
- Low fees, $0 commission on U.S. Stocks and ETFs plus $0 on equity options contract fees
- 5.1% APY in the Cash sweep program and a 3.0% boost for qualified customers
Users can reach out to the Moomoo customer support team by phone during trading hours or via email. FAQs in the Help Center can also answer specific questions.
The site and app also helps users learn with a nice educational offering and a community with more than 20 million users worldwide.
Pros
- Commission-free trading
- A competitive 6.8% margin rate
- 5.1% APY in the Cash Sweep program for new and qualified customers
- Free Level 2 data for funded brokerage accounts
- Advanced charting tools with 100+ indicators, 37+ drawing tools and 20 candle patterns
- Extended trading hours for all users and 24/7 chat support
- No minimum deposit to open an account
Cons
- No fractional stocks
- No crypto
- No support for mutual funds or retirement accounts
Best for Cryptocurrency Trading: Coinbase
Sum of median estimated savings and rewards earned, per user in 2021 across multiple Coinbase programs (excluding sweepstakes). This amount includes fee waivers from Coinbase One (excluding the subscription cost), rewards from Coinbase Card, and staking rewards. ³Crypto rewards is an optional Coinbase offer. Upon purchase of USDC, you will be automatically opted in to rewards. If you’d like to opt out or learn more about rewards, you can click here. The rewards rate is subject to change and can vary by region. Customers will be able to see the latest applicable rates directly within their accounts.
If you’re looking for the widest possible selection of cryptocurrency investments, Coinbase could be the right investing platform for you. Though Coinbase doesn’t offer access to traditional markets like the stock and bond market, it offers one of the most comprehensive selections of cryptocurrencies on the market.
From major crypto projects like Bitcoin to stablecoins to aspiring altcoins like Chainlink, Coinbase makes it easy to learn more about some of the world’s largest cryptocurrencies and invest with ease.
Coinbase also allows you to get started cryptocurrency trading for free with its Coinbase Earn program. Simply watch a few educational videos about some of Coinbase’s major token offerings and take a quiz on the projects’ histories and functionalities. For each answer you get correct, you’ll earn a bit of crypto.
Pros
- You can use this platform to build a crypto portfolio irrespective of your expertise level
- You can use the platform to learn and diversify your portfolio
Cons
- Coinbase has not always been the most stable platform in the space
What is Webull?
Webull is a relatively new broker known for its free commissions and wide range of educational and support tools. Like other brokers on the market, Webull allows users to buy and sell shares of stocks, American depository receipts (ADRs), ETFs and options contracts. Webull has taken cues from competitors like Robinhood and TD Ameritrade, combining powerful investing tools with commission-free trading.
Though Webull was only introduced in 2017, the broker has already made waves throughout the investing world. Some of the benefits that you’ll enjoy when you invest through Webull include:
- Commission-free investing: No account minimums, no commissions on stock buy and sell orders and even free options trading, it’s difficult to find a trading platform that offers more free options than Webull.
- Extended investing hours: Many brokers allow retail investors to trade only during the standard market hours of 9:30 a.m. EST to 4 p.m. EST. Webull offers investors full access to trading during the pre-market hours 4 a.m. to 9:30 a.m. EST and the after-hours trading session of 4 p.m. to 8 p.m. EST. This provides retail investors with more access to investing sessions that move the market outside of major trading hours.
- 24/7 customer service: If you’re a new investor, it can be helpful to know that you have a customer service team standing by to help you navigate trading issues. Webull’s customer service team is available 24/7 to assist with connectivity and investing issues.
While Webull offers a host of benefits that both new and seasoned investors love, this platform isn’t for everyone. Many Webull alternatives offer enhanced educational options alongside free trading.
Why Webull Might Not Be Right for You
With so many brokers offering trading capabilities online, you no longer need to settle for a broker that doesn’t offer you access to all of the features and securities you need. If any of the following features are important to you, Webull might not be the best platform for you.
- Access to long-term investment securities: Though Webull does an amazing job offering securities that active investors frequently trade, it doesn’t offer access to mutual funds or bonds. Despite the fact that the broker offers long-term investing accounts (like traditional and Roth IRAs), without access to these investments, you might have a limited selection of long-term opportunities.
- Limited access to additional securities: Though Webull makes it easy to invest in stocks, ETFs and options without paying an expensive commission, it doesn’t offer access to futures trading. It also offers limited support for cryptocurrencies — investors can only buy and sell major cryptocurrencies like Bitcoin and Ethereum though Webull. If you’re looking for a more comprehensive source to buy and sell cryptocurrencies, Webull might not be the best option for you.
- A platform aimed towards beginners: Webull offers investors access to a wide range of analysis tools, including Level 2 investment data and an advanced charting platform, new investors might find these features overwhelming. Additionally, Webull offers only limited access to educational tools that you can use to learn about the market. If you’ve never traded or invested before, you may want to choose a platform that offers a more comprehensive learning and education center.
Invest with Confidence
No matter if you decide to invest in stocks through Webull or futures contracts through TradeStation, it’s important to take the time to compare platforms before you decide which trading platform you’d like to use. Be sure to compare news and education resources, commissions and pricing and market access before you open an account. This will help ensure that you don’t need to maintain multiple accounts to have access to all of the investments and tools you need.
About Sarah Horvath
Sarah is an expert in the insurance, investing for retirement and cryptocurrency space.