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Charles Schwab vs Webull 2023

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Written by StockBrokers.com

January 23, 2023

Is Charles Schwab better than Webull? After testing 17 of the best online brokers over three months, Charles Schwab (94.51%) is better than Webull (85.09%). As the granddaddy of discount brokers, Charles Schwab understands how to deliver value to its customers, providing a comprehensive roster of tools, advice and actionable ideas at reasonable cost.

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Overall RatingCharles SchwabWebull
Overall 4.5/5 Stars 4.5/5 Stars
Commissions & Fees 4.5/5 Stars 4.5/5 Stars
Investment Options 5/5 Stars 4/5 Stars
Platforms & Tools 4.5/5 Stars 4.5/5 Stars
Mobile Trading Apps 4.5/5 Stars 4.5/5 Stars
Research 5/5 Stars 3/5 Stars
Customer Service 4.5/5 Stars 3.0/5 Stars
Education 4.5/5 Stars 3.5/5 Stars
Ease Of Use 5/5 Stars 4.5/5 Stars
Winner check_circle
Review Charles Schwab Review Webull Review
Trading FeesCharles SchwabWebull
Minimum Deposit $0.00 $0.00
Stock Trades $0.00 $0.00
Penny Stock Fees (OTCCB) $6.95 N/A
Mutual Fund Trade Fee Varies N/A
Options (Base Fee) $0.00 $0.00
Options (Per Contract) $0.65 $0.00
Futures (Per Contract) $2.25 N/A
Broker Assisted Trade Fee $25 N/A
Margin RatesCharles SchwabWebull
Margin Rate Under $25,000 11.33% 9.49%
Margin Rate $25,000 to $49,999.99 10.83% 8.99%
Margin Rate $50,000 to $99,999.99 9.88% 8.99%
Margin Rate $100,000 to $249,999.99 9.83% 8.49%
Margin Rate $250,000 to $499,999.99 9.58% 7.99%
Margin Rate $500,000 to $999,999.99 7.83% 6.99%
Margin Rate Above $1,000,000 7.50% 6.49%
Account FeesCharles SchwabWebull
IRA Annual Fee $0.00 $0.00
IRA Closure Fee $0.00 $0.00
Account Transfer Out (Partial) $25.00 $75.00
Account Transfer Out (Full) $50.00 $75.00
Options Exercise Fee $0.00 $0.00
Options Assignment Fee $0.00 $0.00
Investment OptionsCharles SchwabWebull
Stock Trading Yes Yes
Margin Trading Yes Yes
Fractional Shares Yes Yes
OTCBB / Pink Sheets Yes Yes
Options Trading Yes Yes
Complex Options Max Legs 4 4
Futures Trading Yes No
Forex Trading No No
Crypto Trading No Yes
Crypto Trading - Total Coins 0 44
Mutual Funds (No Load) 14996 0
Mutual Funds (Total) 17912 0
Bonds (US Treasury) Yes No
Bonds (Corporate) Yes No
Bonds (Municipal) Yes No
Advisor Services Yes No
International Countries (Stocks) 12 0
Order TypesCharles SchwabWebull
Order Type - Market Yes Yes
Order Type - Limit Yes Yes
Order Type - After Hours Yes Yes
Order Type - Stop Yes Yes
Order Type - Trailing Stop Yes Yes
Order Type - OCO Yes Yes
Order Type - OTO Yes Yes
Order Type - Broker Assisted Yes No
BeginnersCharles SchwabWebull
Education (Stocks) Yes Yes
Education (ETFs) Yes Yes
Education (Options) Yes Yes
Education (Mutual Funds) No No
Education (Bonds) Yes No
Education (Retirement) Yes No
Retirement Calculator Yes No
Investor Dictionary Yes Yes
Paper Trading No Yes
Videos Yes No
Webinars Yes No
Webinars (Archived) Yes No
Progress Tracking No Yes
Interactive Learning - Quizzes No Yes
Stock Trading AppsCharles SchwabWebull
iPhone App Yes Yes
Android App Yes Yes
Apple Watch App Yes Yes
Trading - Stocks Yes Yes
Trading - After-Hours Yes Yes
Trading - Simple Options Yes Yes
Trading - Complex Options Yes Yes
Order Ticket RT Quotes Yes Yes
Order Ticket SRT Quotes No Yes
Stock App FeaturesCharles SchwabWebull
Market Movers (Top Gainers) Yes Yes
Stream Live TV Yes No
Videos on Demand Yes No
Stock Alerts No Yes
Option Chains Viewable Yes Yes
Watch List (Real-time) Yes Yes
Watch List (Streaming) No Yes
Watch Lists - Create & Manage Yes Yes
Watch Lists - Column Customization No No
Watch Lists - Total Fields 130 35
Stock App ChartingCharles SchwabWebull
Charting - After-Hours No Yes
Charting - Can Turn Horizontally Yes Yes
Charting - Multiple Time Frames Yes Yes
Charting - Technical Studies 32 56
Charting - Study Customizations Yes Yes
Charting - Stock Comparisons Yes Yes
Trading PlatformsCharles SchwabWebull
Active Trading Platform StreetSmart Edge N/A
Desktop Trading Platform Yes Yes
Desktop Platform (Mac) No Yes
Web Trading Platform Yes Yes
Paper Trading No Yes
Trade Journal Yes No
Watch Lists - Total Fields 130 35
Stock Chart FeaturesCharles SchwabWebull
Charting - Adjust Trades on Chart Yes Yes
Charting - Indicators / Studies 41 52
Charting - Drawing Tools 15 19
Charting - Notes Yes Yes
Charting - Index Overlays Yes Yes
Charting - Historical Trades No Yes
Charting - Corporate Events Yes Yes
Charting - Custom Date Range Yes No
Charting - Custom Time Bars Yes No
Charting - Automated Analysis Yes Yes
Charting - Save Profiles Yes Yes
Trade Ideas - Technical Analysis Yes No
Charting - Study Customizations 7 2
Charting - Custom Studies No Yes
Day TradingCharles SchwabWebull
Streaming Time & Sales Yes Yes
Streaming TV Yes No
Direct Market Routing - Stocks Yes No
Ladder Trading No Yes
Trade Hot Keys Yes Yes
Level 2 Quotes - Stocks Yes Yes
Trade Ideas - Backtesting Yes No
Trade Ideas - Backtesting Adv No No
Short Locator Yes No
Order Liquidity Rebates No No
Research OverviewCharles SchwabWebull
Research - Stocks Yes Yes
Research - ETFs Yes Yes
Research - Mutual Funds Yes No
Research - Pink Sheets / OTCBB Yes Yes
Research - Bonds Yes No
Screener - Stocks Yes Yes
Screener - ETFs Yes No
Screener - Mutual Funds Yes No
Screener - Bonds Yes No
Misc - Portfolio Allocation Yes No
Stock ResearchCharles SchwabWebull
Stock Research - PDF Reports 7 0
Stock Research - Earnings Yes Yes
Stock Research - Insiders Yes Yes
Stock Research - Social Yes Yes
Stock Research - News Yes Yes
Stock Research - ESG Yes No
Stock Research - SEC Filings Yes Yes
ETF ResearchCharles SchwabWebull
ETFs - Strategy Overview Yes Yes
ETF Fund Facts - Inception Date Yes Yes
ETF Fund Facts - Expense Ratio Yes Yes
ETF Fund Facts - Net Assets Yes Yes
ETF Fund Facts - Total Holdings Yes Yes
ETFs - Top 10 Holdings Yes No
ETFs - Sector Exposure Yes Yes
ETFs - Risk Analysis Yes No
ETFs - Ratings Yes Yes
ETFs - Morningstar StyleMap Yes No
ETFs - PDF Reports Yes No
Mutual Fund ResearchCharles SchwabWebull
Mutual Funds - Strategy Overview Yes No
Mutual Funds - Performance Chart Yes No
Mutual Funds - Performance Analysis Yes No
Mutual Funds - Prospectus Yes No
Mutual Funds - 3rd Party Ratings Yes No
Mutual Funds - Fees Breakdown Yes No
Mutual Funds - Top 10 Holdings Yes Yes
Mutual Funds - Asset Allocation Yes No
Mutual Funds - Sector Allocation Yes No
Mutual Funds - Country Allocation Yes No
Mutual Funds - StyleMap Yes No
Options TradingCharles SchwabWebull
Option Chains - Basic View Yes Yes
Option Chains - Strategy View Yes Yes
Option Chains - Streaming Yes No
Option Chains - Total Columns 44 23
Option Chains - Greeks 5 5
Option Chains - Quick Analysis Yes Yes
Option Analysis - P&L Charts Yes Yes
Option Probability Analysis Yes Yes
Option Probability Analysis Adv Yes Yes
Option Positions - Greeks Yes Yes
Option Positions - Greeks Streaming Yes No
Option Positions - Adv Analysis Yes No
Option Positions - Rolling Yes No
Option Positions - Grouping Yes No
BankingCharles SchwabWebull
Bank (Member FDIC) Yes No
Checking Accounts Yes No
Savings Accounts Yes No
Credit Cards Yes No
Debit Cards Yes No
Mortgage Loans Yes No
Customer ServiceCharles SchwabWebull
Phone Support (Prospect Customers) Yes Yes
Phone Support (Current Customers) Yes Yes
Email Support Yes Yes
Live Chat (Prospect Customers) No No
Live Chat (Current Customers) Yes No
24/7 Support Yes Yes
OverallCharles SchwabWebull
Overall 4.5/5 Stars 4.5/5 Stars
Commissions & Fees 4.5/5 Stars 4.5/5 Stars
Investment Options 5/5 Stars 4/5 Stars
Platforms & Tools 4.5/5 Stars 4.5/5 Stars
Mobile Trading Apps 4.5/5 Stars 4.5/5 Stars
Research 5/5 Stars 3/5 Stars
Education 4.5/5 Stars 3.5/5 Stars
Ease Of Use 5/5 Stars 4.5/5 Stars
Winner check_circle
Review Charles Schwab Review Webull Review
  • check_box_outline_blankcheck_boxAlly Invest
  • check_box_outline_blankcheck_boxCharles Schwab
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  • check_box_outline_blankcheck_boxeToro
  • check_box_outline_blankcheck_boxFidelity
  • check_box_outline_blankcheck_boxFirstrade
  • check_box_outline_blankcheck_boxInteractive Brokers
  • check_box_outline_blankcheck_boxJ.P. Morgan Self-Directed Investing
  • check_box_outline_blankcheck_boxMerrill Edge
  • check_box_outline_blankcheck_boxRobinhood
  • check_box_outline_blankcheck_boxSofi Invest
  • check_box_outline_blankcheck_boxtastyworks
  • check_box_outline_blankcheck_boxTD Ameritrade
  • check_box_outline_blankcheck_boxTradeStation
  • check_box_outline_blankcheck_boxTradier
  • check_box_outline_blankcheck_boxVanguard
  • check_box_outline_blankcheck_boxWebull
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Charles Schwab vs Webull Comparison

Comparing brokers side by side is no easy task. For our 2023 annual broker review, we spent hundreds of hours assessing 17 brokerages to find the best online broker. Let's compare Charles Schwab vs Webull.

Is Charles Schwab or Webull better for beginners?

Charles Schwab offers more comprehensive new investor education for beginner investors than Webull. Charles Schwab offers investors access to Videos, Education (Stocks), Education (ETFs), Education (Options), Education (Bonds) and Education (Retirement), while Webull offers investors access to Paper Trading, Education (Stocks), Education (ETFs) and Education (Options), neither have Education (Mutual Funds).

What about Charles Schwab vs Webull pricing?

Charles Schwab and Webull charge the same amount for regular stock trades, $0.00. Option contracts are pricier at Charles Schwab, costing $0.65 per contract versus $0.00 per contract at Webull. For a complete commissions summary, see our best brokers for free stock trading guide.

Does Charles Schwab or Webull offer a wider range of investment options?

Charles Schwab offers investors access to Stock Trading, Fractional Shares, Options Trading, OTCBB / Pink Sheets, Mutual Funds, Futures Trading and Advisor Services, while Webull offers investors access to Stock Trading, Fractional Shares, Options Trading and OTCBB / Pink Sheets, neither have Forex Trading. Looking at Mutual Funds, Webull trails Charles Schwab in its offering of no transaction fee (NTF) mutual funds, with Charles Schwab offering 7168 and Webull offering 0.

Which trading platform is better: Charles Schwab or Webull?

To compare the trading platforms of Charles Schwab and Webull, we tested each broker's trading tools, research capabilities, and mobile apps. For trading tools, Charles Schwab offers a better experience. With research, Charles Schwab offers superior market research. Finally, we found Webull to provide better mobile trading apps.

Does either broker offer banking?

Online banking can be a benefit for investors, and some brokerages do provide banking services to customers. Checking Accounts, Savings Accounts, Debit Cards, Credit Cards and Mortgage Loans are offered by Charles Schwab while Webull offers neither of these.

Is Charles Schwab good?

As the granddaddy of discount brokers, Charles Schwab understands how to deliver value to its customers, providing a comprehensive roster of tools, advice and actionable ideas at reasonable cost.

Is Webull good?

Webull is an excellent choice for beginning and intermediate traders. The user experience is outstanding, and Webull has better charts than its natural competitor, Robinhood. Options contracts are commission-free, but crypto markups and markdowns are on the high side. Experienced investors may eventually miss the features, research, and investment choices available at leading brokers.

Charles Schwab vs Webull Winner

Overall winner: Charles Schwab

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