Compare Webull vs. E*TRADE: Basics, Fees, Features, & More

The total number of online brokerage accounts has soared in recent months, with millions of young people joining the financial markets.

Be it generating a steady income with index funds or speculating on the next great meme stock; young people are taking advantage of the many zero-commission brokerage accounts that they can use on their phone or desktop computer.

What Is a Brokerage Account?

A brokerage account is a trading platform that allows you to buy and sell securities, such as stocks, exchange-traded funds (ETFs), commodities, bonds, and so much more. And depending on the platform, you can also participate in shorting stocks and buying fractional shares.

There had only been a select few that clients could join for many years. However, retail traders now have a wider selection to choose from, whether in North America or Europe. Not only are there dozens more brokerage firms available, but the suite of products is diverse too.

Case in point, meet E*TRADE and Webull. While E*TRADE and Webull have some features in common, we examine a few of the key differences between these brokers to help you determine which one is best for your investment needs.

E*TRADE: The Basics

E*TRADE is a financial services company that provides investors with a trading platform to acquire equities and funds. It also maintains a wide range of resources and tools to improve your investment strategy, such as tracking price, reading news related to stocks you like, and comparing the performance between other securities.

The company was formed in 1982 by William A. Porter and Bernard A. Newcomb, with headquarters in New York. Morgan Stanley originally acquired it before being sold to Axos.

Webull: The Basics

Webull is another commission-free, browser- and mobile-based trading platform with an extensive list of financial products to invest in, including stocks, ETFs, margins, options, and even cryptocurrencies.

The company was founded in May 2017 and is owned by multiple parties, such as Wang Anquan, Xiaomi, Shunwei Capital, Hongdao Capital, and Gopher Asset Management.

There has been talk in recent months that Webull could be going public. Goldman Sachs is reportedly working with the trading platform to file an initial public offering (IPO). While nothing has been confirmed, the reports are favorable for the online brokerage firm.


Webull vs. E*TRADE

Feature Comparison

This Webull and E*TRADE comparison aims to make it easier for you to choose between the two brokerage accounts.

Webull

E*TRADE

Availability of Trading

Stocks, bonds, cryptocurrency, fractional shares, and options

Educational Materials

Charts, news, and trading resources

Comparison of Apps

Android and iOS features and charting

Payment Methods

Credit card, wire transfer, debit card, and PayPal

Account Features

Cash account vs. margin account, IRA withdrawals, rolling options



Which Broker Is More User-Friendly?

It is widely believed that E*TRADE is a superior trading platform for beginner investors than its Webull counterpart. From the user interface to the research and educational resources, E*TRADE maintains a distinct advantage against both Webull and many of its competitors.

While Webull can be a worthy alternative because of its safety and customization abilities, E*TRADE maintains a potpourri of features and services that can enhance the trading experience for many novice traders.

But what about minimum deposits and trade, such as inactivity fees, interest rates, and charge per trade? Let's compare.

Pricing Comparison

The Final Verdict: Which Broker Is Better?

Overall, E*TRADE is the better trading platform for beginner traders and seasoned veterans. Some fees may be less than competitive for advanced trading endeavors, like futures and options, but everything else at E*TRADE adheres to industry standards, namely $0 commission. From quick transfers of stocks and instant buying power, this multi-decade-old website is a terrific option.