E Trade vs Webull
What is E Trade?
E Trade is one of the most common names in investing. They’re probably one of the names that come top of mind when you think about finance and brokerage firms. This is also because they’re very good at what they do.
Whether you’re just getting started investing or have been doing it for years, the E Trade platform will have something for most.
Platform Pros
- Mobile trading – Since E Trade was one of the first online brokerages ever, it makes sense that they excel in mobile trading. Their mobile app is very easy-to-use and loaded with features.
- Branch locations – Unlike some newer companies (who operate entirely remotely) E Trade has physical branch locations that you can go to. This can come in handy if you have questions or prefer to meet with people face to face when doing business.
- Options trading – E Trade is one of the best places to trade options (this is especially true if you’re a beginner). They have lots of tools to help you get in the rhythm of it such as the Snapshot Analysis tool which highlights risk/reward as well as key events to watch out for.
- Futures trading – On E Trade’s platform, you can have multiple futures ladders running at once manage your positions with ease.
- Brand name – As mentioned, E Trade has been around for about 40 years. This means that they were one of the pioneers in online trading and have years of experience under their belt.
- $0 Commission trading – E Trade is relatively new to the free commission game but it is now something that they partially offer ($0.65 fee per contract, and future contracts carry a $1.50 fee).
- Versatility – When it comes to online securities trading, E Trade has a lot to offer. They have two mobile platforms, the traditional E Trade platform, and the Power E Trade platform for serious traders.
- Managed or Unmanaged – E Trade has options available for investors who want to just want to pass the keys off to a professional as well as people who want to manage their own money.
Platform Cons
- Cryptocurrency – Cryptocurrency is not able to be bought or sold on E Trade’s platform.
- Customer service – Since E Trade has so many more customers and accounts to track, you can expect their customer service to not be as robust as that of a smaller company.
- Up-to-date – Even though E Trade has a robust platform, they might not be as up-to-date on some things as younger companies are. For example, they still have the option to invest in CDs on their site but not cryptocurrency. Generally speaking, larger companies are slower to implement changes.
Fees
Trading stocks and ETFs is mostly fee free on E Trade. Unfortunately, trading options to contrast is a $0.65 fee per contract, and future contracts are $1.50.
What is Webull?
Webull also offers a very sleek platform with great user experience. Their platform will offer functionality that is comparable to E Trade but Webull is entirely geared towards investors who are looking for a superior tool completely fee free. They offer a much superior level of analysis and have created their platform to incorporate the most cutting edge technology.
Their main user probably looks something like this:
- High-level traders
- Active traders who want to reduce costs
- Beginners who want to learn fundamentals and technical analysis
Platform Pros
As mentioned, there is a lot of power packed into Webull’s platform. Some of the ways that it separates itself from E Trade are:
- Charts – They offer charts of data that can be expanded into 20 different technical indicators.
- Candles – Their candles can be set from 1-60 minutes.
- Moving Averages – You can see moving averages from stocks over a 5-year history.
- Detailed Market Information – They have readily available information on things like Hot Industries, Upcoming IPOs, Upcoming Earnings, and Forex.
- Screeners – Search for stocks with the most unusual volume or most trades in the last 5 minutes.
- Commission Free– Webull truly charges no fees to trade stocks, options, or etfs with your cash account.
Platform Cons
Some of their pros can also be viewed as cons. If you don’t care as much about getting access to all the data available, then it might just be getting in your way. This really comes down to a matter of personal preference.
If you’re looking for a sophisticated, yet simple platform with tons of information to help you make informed decisions then Webull is perfect. If you don’t need all of that, then maybe try another platform.
Fees
Webull has no fees for using its platform. However, margin rates start at 6.99% for borrowing up to $25,000.
Webull Sign Up Bonus
Webull is currently offering you two free stocks when you open an account and deposit any amount! These stocks will be randomly selected and may be worth anywhere up to $1,650. I doubt this promotion will last long so if you’re interested we recommend you take advantage of this signup promotion before it’s over!
Bottom Line
At the end of the day, whichever platform that you end up choosing will be reliant on your preferences and investing goals. We’d compare E Trade to a seasoned vet who has a history of performing adequately. If you want reliability in your broker, E Trade might be the right call. On the other hand, Webull is the up-and-coming rookie who is looking to make a name for themselves. If you want to be a part of the team that’s trying to do things differently and offer you the best service possible then you’re better off choosing Webull.
E-Trade
- Commission Free
- No Free Stocks
- 24/7 Online Help
- Biometric Authentication
- In-Depth Analysis Tools
Webull
- Commission Free
- Two Free Stocks
- 24/7 Online Help
- Biometric Authentication
- In-Depth Research Tools