Webull
A solid step up from Robinhood with better charting and extended hours trading. Great for intermediate traders who want more tools without fees.
Score Breakdown
Six dimensions assessed across a 15-year investment horizon.
Protection & Custody
Investor Protection
SIPC
$500,000
Standard SIPC coverage
Track Record
9+
Years in operation since 2017
Total Cost of Ownership
“Free trading with competitive execution”
Commission
$0
Spread
Moderate spreads via PFOF
Inactivity Fee
$0
Withdrawal Fee
$0 (ACH) / $25 (wire)
FX Conversion
N/A
Est. Monthly Cost
$3–$10/month in execution costs
Order Flow & Execution
Receives PFOF for equities and options
Webull routes orders to market makers including Citadel and Virtu. Generates PFOF revenue but generally provides price improvement.
Pros & Cons
Pros
- $0 commissions with advanced charting
- Extended hours trading (4 AM – 8 PM ET)
- Paper trading account available
- Level 2 quotes included (free trial)
Cons
- Limited fundamental research
- No mutual funds or bonds
- Customer support can be slow
- Platform owned by Chinese parent company (Fumi Technology)
A solid step up from Robinhood with better charting and extended hours trading. Great for intermediate traders who want more tools without fees.