Contributor, Benzinga
February 7, 2022

There are several online investment platforms and selecting the best platform could be rather challenging. However, there are a few options for new, intermediate and experienced investors. For example, Webull and Fidelity are two of the top online investment platforms. Fidelity is a full-service brokerage that offers a range of investment products and services. Fidelity has decade-long experience in investing across a broad range of asset classes and equally brings a raft of educational and market research materials to its users. Meanwhile, Webull offers investment products that are used by investors to trade frequently. As a relatively new online brokerage with a growing presence and liquid assets 

Webull offers investment products used by investors to trade frequently. As a relatively new online brokerage, it deals in liquid assets. They both serve the market in similar and several ways. In this article, we compare the pros and cons of both Webull and Fidelity. This article used a range of indicators, including their services, online experience and mobile features. Rather than illustrate the differences based on the above indicators, this article uses a much simpler approach. But before we go further, who is Webull and Fidelity? 

Webull is a U.S.-based fintech company, which is regulated by the U.S. Securities exchange (SEC) and the Financial Industrial regulation Authority (FINRA). It was launched in 2017 as a mobile app but now has a desktop and web version. Webull has a limited line of investment products, but they allow trading in cryptocurrency. 

Fidelity was established in 1946 and it is a tried and tested brokerage, with brick and mortar locations alongside its online presence. Fidelity has upwards of 20 million investors with over $8 trillion in customer assets. It equally possesses a full range of investment vehicles. Fidelity appears to long-term investors but doesn't allow trading of cryptocurrencies. A major difference between Webull and Fidelity deals mostly in financial products and investments. 

The Best of Fidelity and Webull

​​Webull and Fidelity often appeal to different types of investors because of the nature of their products.However, rather than demographics and investor preference, these platforms are appropriate to investors based on the investment objectives. Webull offers four different types of investment vehicles. These include equity securities, exchange-traded funds (ETFs), options and cryptocurrency. Offerings of digital tokens,  digital tokens and you must sign up for the privilege of trading cryptocurrency on Webull. Webull also offers trading of fractional shares, which often appeals to young investors.

The account types offered by Webull include cash and margin accounts. IRAa are available if you own an account with Webull. They support traditional and Roth IRAs along with rollover IRAs. Fidelity is a full-service brokerage with a broad line of investment products. It offers equities and fixed income securities in addition to around 10,000 mutual funds with 3,500 of those no-load with no transactions fees. One unique aspect of Fidelity is that it offers a range of investment products and seems to prefer them since its own mutual funds and index funds carry a 0% expense ratio. Fidelity also offers ETFs and options. Further, it also offers international stocks and access to over 25 global stock markets.

  • Fidelity offers an extensive list of accounts, including IRAs. It offers traditional, Roth and SEP IRAs as well as rollover IRAs. It equally offers 401(k)s for the self-employed and college plans. The account types equally include managed accounts along with annuities as well as personal and business accounts. 
  • Fidelity offers top-notch stock and fund research, with everything investors need. 
  • Their research center is top-notch with everything an investor can ask for. You can analyze stocks and funds, tap into real-time analysis and use technical trading tools. Fundamental analysis information is also available.
  • Fidelity offers the ActiveTrader Pro as its premier platform, which is downloadable. It is more than sufficient for an active trader or long-term investor. In addition, Fidelity offers a web-based platform and a mobile app. For most buy-and-hold investors, the web-based platform is sufficient although more active traders may prefer ActiveTrader Pro, which has more sophisticated technical analysis tools. 
  • Fidelity offers access to both domestic markets and 25 foreign markets, as well as a wide range of options contracts and over 10,000 mutual funds. It offers a wide array of educational tools for new and intermediate investors. 
  • Webull’s platform has mobile, web-based and desktop capabilities. Investors find it intuitive and easy to use. There is a customizable workplace station that provides news, technical trading tools like charting, fundamental analysis, a stock screener and ratings from analysts. Webull also offers extended trading hours, which are particularly important to many investors.
  • Webull offers no commission trading and no minimum deposit or balance for accounts except for a $1 deposit fee for cryptocurrency accounts.
  • Webull has limited research presence and specializes only in technical analysis. However, some tools for fundamental analysis are available. 
  • Webull offers a good mobile app that is consistent with web-based and desktop platforms. There are some design differences designed to accommodate smaller screens. Watchlists can also be created through mobile apps on other platforms. You do not need to set up multiple platforms and can equally customize ticket information on the mobile apps. 

Drawbacks of Fidelity and Webull

  • Webull day trading can’t compete with Fidelity when it comes to educational content. However, it does have some educational content for investors in comparison to Fidelity’s vast library. And strong research 
  • Webull has a reasonable research presence on its platform but It specializes in technical analysis with some tools available for fundamental analysis. Even some necessary technical indicators are a paid upgrade. Webull does have a strong investor dashboard with alert and watch lists available along with real-time streaming quotes and analyst reviews. Portfolio management tools are lacking.
  • Webull does not offer robo-advisors, a dividend reinvestment program (DRIP) or recommended portfolios while Fidelity does. It’s difficult to reach customer service by phone and there is no chat feature.
  • Fidelity does not offer futures trading, but it does offer forex.
  • Fidelity does not offer direct access to the cryptocurrency markets, but there are indirect ways to access it through blockchain ETFs.
  • At Fidelity, there are high fees for buying a non-Fidelity mutual fund (with over 3,300 fee-free funds available)

Who Should Use Fidelity

Fidelity offers an extensive list of accounts, including IRAs. It offers traditional, Roth and SEP IRAs as well as rollover IRAs. It offers 401(k)s for the self-employed and college 529 plans. Account types also include personal, business and managed accounts along with annuities.

Who Should Use Webull?

Webull and Fidelity target the same types of investors. Just like fidelity, the products and services offered by Webull appeals to young investors and speculators as they encourage frequent trading. Both Fidelity and Webull equally offer long-term investment products such as bonds and other fixed-income securities. 

About Webull

Webull provides brokerage services. The company focuses on zero-commission trading and in-depth market data research services. As a financial company with the customer at heart, the internet as its foundation and technology as its lifeblood, it is committed to synergizing technology with finance by providing reliable, professional, intelligent and efficient products and services. Its leadership has extensive experience in both the internet and financial industries, which allows an efficient combination to optimize the trading experience.

Webull appeals to the mobile-first generation of casual investors with its slick interface for desktop and mobile apps, but the brokerage also delivers an impressive array of tools for active traders. Although its relatively weak educational content may leave true beginners in the lurch and it lacks access to a few common asset classes, it stands out as a top brokerage.

About Fidelity

Based in Boston, Massachusetts it is one of the largest investment managers in the world. With over 26 million customers, $6.5 trillion in total customer assets and more than $2.4 trillion in global assets under management. Fidelity is equally a brokerage firm that manages a large family of mutual funds, and offers a range of services such as cryptocurrencies. 

Fidelity Investments is a privately-owned investment management company that was established in 1964 as a mutual fund. Fidelity now offers a number of services, which include fund distribution and investment advice, fixed income,  retirement services and securities execution. 

Fidelity now offers a range of services including fund distribution and investment advice, wealth management, life insurance, retirement services, and securities execution and clearance. It manages equity, fixed income, and balanced mutual funds for individual investors, businesses, financial advisors, and institutional investors. 

Webull and Fidelity are Leading Apps for Investors

Regardless of your investment style or preferences, Webull and Fidelity offer a range of investment products and competitive prices. Their platforms offer educational content to varying extents and their unique features are useful for long-term strategic thinkers and short-term speculative investors. Come back to Benzinga for more information on the best investment apps, market intelligence and updates on your favorite stocks. 

Frequently Asked Questions

Q

Can I trust Webull?

A

Webull is a U.S.-based fintech company, regulated by the U.S. Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA). Webull Financial Llc is a broker-dealer incorporated in the state of Delaware and all its SEC filing can be found here. 

Q

Is Fidelity legit?

A

Fidelity was established in 1946. Fidelity is also regulated by the SEC and FINRA. One difference between Webull and Fidelity is that Fidelity deals mostly in its own financial products. Fidelity is considered safe because it has a long track record and is regulated by top-tier financial authorities.