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Interactive Brokers vs Webull 2023

StockBrokers.com

Written by StockBrokers.com

January 23, 2023

Is Interactive Brokers better than Webull? After testing 17 of the best online brokers over three months, Interactive Brokers (91.92%) is better than Webull (85.09%). Interactive Brokers is a go-to choice for professionals because of its institutional-grade desktop trading platform, high-quality trade executions and rock-bottom margin rates.

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Overall RatingInteractive BrokersWebull
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 5/5 Stars 4.5/5 Stars
Mobile Trading Apps 5/5 Stars 4.5/5 Stars
Research 5/5 Stars 3/5 Stars
Customer Service 4/5 Stars 3.0/5 Stars
Education 4.5/5 Stars 3.5/5 Stars
Ease Of Use 4/5 Stars 4.5/5 Stars
Winner check_circle
Review Interactive Brokers Review Webull Review
Trading FeesInteractive BrokersWebull
Minimum Deposit $0.00 $0.00
Stock Trades $0.00 $0.00
Penny Stock Fees (OTCCB) $0.00 N/A
Mutual Fund Trade Fee $14.95 N/A
Options (Base Fee) $0.00 $0.00
Options (Per Contract) $0.65 $0.00
Futures (Per Contract) $0.85 N/A
Broker Assisted Trade Fee $30 N/A
Margin RatesInteractive BrokersWebull
Margin Rate Under $25,000 4.58% 9.49%
Margin Rate $25,000 to $49,999.99 4.58% 8.99%
Margin Rate $50,000 to $99,999.99 4.58% 8.99%
Margin Rate $100,000 to $249,999.99 4.08% 8.49%
Margin Rate $250,000 to $499,999.99 4.08% 7.99%
Margin Rate $500,000 to $999,999.99 4.08% 6.99%
Margin Rate Above $1,000,000 3.83% 6.49%
Account FeesInteractive BrokersWebull
IRA Annual Fee $0.00 $0.00
IRA Closure Fee $0.00 $0.00
Account Transfer Out (Partial) $0.00 $75.00
Account Transfer Out (Full) $0.00 $75.00
Options Exercise Fee $0.00 $0.00
Options Assignment Fee $0.00 $0.00
Investment OptionsInteractive BrokersWebull
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 6 4
Futures Trading Yes No
Forex Trading No No
Crypto Trading Yes Yes
Crypto Trading - Total Coins 4 44
Mutual Funds (No Load) 10882 0
Mutual Funds (Total) 11160 0
Bonds (US Treasury) Yes No
Bonds (Corporate) Yes No
Bonds (Municipal) Yes No
Advisor Services No No
International Countries (Stocks) 33 0
Order TypesInteractive BrokersWebull
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
BeginnersInteractive BrokersWebull
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 No No
Investor Dictionary Yes Yes
Paper Trading Yes Yes
Videos Yes No
Webinars Yes No
Webinars (Archived) Yes No
Progress Tracking Yes Yes
Interactive Learning - Quizzes Yes Yes
Stock Trading AppsInteractive BrokersWebull
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 Yes Yes
Stock App FeaturesInteractive BrokersWebull
Market Movers (Top Gainers) Yes Yes
Stream Live TV Yes No
Videos on Demand Yes No
Stock Alerts Yes Yes
Option Chains Viewable Yes Yes
Watch List (Real-time) Yes Yes
Watch List (Streaming) Yes Yes
Watch Lists - Create & Manage Yes Yes
Watch Lists - Column Customization Yes No
Watch Lists - Total Fields 640 35
Stock App ChartingInteractive BrokersWebull
Charting - After-Hours Yes Yes
Charting - Can Turn Horizontally Yes Yes
Charting - Multiple Time Frames Yes Yes
Charting - Technical Studies 97 56
Charting - Study Customizations Yes Yes
Charting - Stock Comparisons No Yes
Trading PlatformsInteractive BrokersWebull
Active Trading Platform Trader Workstation (TWS) N/A
Desktop Trading Platform Yes Yes
Desktop Platform (Mac) Yes Yes
Web Trading Platform Yes Yes
Paper Trading Yes Yes
Trade Journal Yes No
Watch Lists - Total Fields 640 35
Stock Chart FeaturesInteractive BrokersWebull
Charting - Adjust Trades on Chart Yes Yes
Charting - Indicators / Studies 121 52
Charting - Drawing Tools 85 19
Charting - Notes Yes Yes
Charting - Index Overlays Yes Yes
Charting - Historical Trades Yes 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 5 2
Charting - Custom Studies No Yes
Day TradingInteractive BrokersWebull
Streaming Time & Sales Yes Yes
Streaming TV Yes No
Direct Market Routing - Stocks Yes No
Ladder Trading Yes Yes
Trade Hot Keys Yes Yes
Level 2 Quotes - Stocks Yes Yes
Trade Ideas - Backtesting Yes No
Trade Ideas - Backtesting Adv Yes No
Short Locator Yes No
Order Liquidity Rebates Yes No
Research OverviewInteractive BrokersWebull
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 ResearchInteractive BrokersWebull
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 ResearchInteractive BrokersWebull
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 ResearchInteractive BrokersWebull
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 TradingInteractive BrokersWebull
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 12 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
BankingInteractive BrokersWebull
Bank (Member FDIC) No No
Checking Accounts No No
Savings Accounts No No
Credit Cards No No
Debit Cards Yes No
Mortgage Loans No No
Customer ServiceInteractive BrokersWebull
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 No Yes
OverallInteractive BrokersWebull
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 5/5 Stars 4.5/5 Stars
Mobile Trading Apps 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 4/5 Stars 4.5/5 Stars
Winner check_circle
Review Interactive Brokers Review Webull Review
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Interactive Brokers 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 Interactive Brokers vs Webull.

Is Interactive Brokers or Webull better for beginners?

Interactive Brokers offers more comprehensive new investor education for beginner investors than Webull. Interactive Brokers offers investors access to Paper Trading, 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 Interactive Brokers vs Webull pricing?

Interactive Brokers and Webull charge the same amount for regular stock trades, $0.00. Option contracts are pricier at Interactive Brokers, 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 Interactive Brokers or Webull offer a wider range of investment options?

Interactive Brokers offers investors access to Stock Trading, Fractional Shares, Options Trading, OTCBB / Pink Sheets, Mutual Funds and Futures Trading, while Webull offers investors access to Stock Trading, Fractional Shares, Options Trading and OTCBB / Pink Sheets, neither have Forex Trading and Advisor Services. Looking at Mutual Funds, Webull trails Interactive Brokers in its offering of no transaction fee (NTF) mutual funds, with Interactive Brokers offering 4329 and Webull offering 0.

Which trading platform is better: Interactive Brokers or Webull?

To compare the trading platforms of Interactive Brokers and Webull, we tested each broker's trading tools, research capabilities, and mobile apps. For trading tools, Interactive Brokers offers a better experience. With research, Interactive Brokers offers superior market research. Finally, we found Interactive Brokers 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. Debit Cards are offered by Interactive Brokers while Webull offers none, neither have Checking Accounts, Savings Accounts, Credit Cards and Mortgage Loans.

Is Interactive Brokers good?

Interactive Brokers is a go-to choice for professionals because of its institutional-grade desktop trading platform, high-quality trade executions and rock-bottom margin rates.

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.

Interactive Brokers vs Webull Winner

Overall winner: Interactive Brokers

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