Written by StockBrokers.com
In this head to head comparison of Webull vs TradeStation, we will compare the trading platforms, mobile apps, range of investments, costs, market research, and more. Let's dive in.
Webull and TradeStation both provide strong platforms for online trading, but each caters to slightly different investor needs. While both platforms offer basic stock and margin trading, TradeStation edges ahead slightly thanks to its inclusion of mutual funds, which are not available on Webull. However, if investing in fractional shares is important to you, Webull is the more suitable choice. Both platforms excel in offering a wide range of investment options, with TradeStation rated at 4.5 stars for its range of investments and Webull closely trailing at 4 stars.
For investors seeking diverse trading opportunities, both Webull and TradeStation support options and futures trading, providing ample ways to expand your investment portfolio. Fortunately, both also offer traditional and Roth IRA accounts, making them viable choices for retirement savings. However, neither platform currently supports forex or crypto trading, which some investors might find limiting.
In comparisons of their range of investments, TradeStation stands out, securing a #5 ranking among 14 brokers according to StockBrokers.com, while Webull holds the #11 spot. This distinction is primarily due to TradeStation's offering of mutual funds, enhancing its appeal to those seeking diversified investment options. Despite these differences, both platforms serve as reliable choices for both novice and seasoned investors who aim to trade stocks, options, futures, and more.
| Feature |
Webull
|
TradeStation
|
|---|---|---|
| Stock Trading | Yes | Yes |
| Account Feature - Margin Trading | Yes | Yes |
| Fractional Shares (Stocks) | Yes | No |
| OTC Stocks | Yes | Yes |
| Mutual Funds | No | Yes |
| Options Trading | Yes | Yes |
| Futures Trading | Yes | Yes |
| Crypto Trading | No | No |
| Crypto Trading - Total Coins | 0 | 0 |
| Range of Investments |
|
|
Dive deeper: Best Options Trading Platforms for 2025, Best Futures Trading Platforms for 2025: A Beginner-Friendly Guide to an Advanced Market
When it comes to choosing between Webull and TradeStation for trading platforms and tools, both options have distinct advantages based on user needs. With a 4-star rating, Webull stands out with its availability of both Windows and Mac desktop downloads, browser-based platform, and comprehensive chart annotation abilities, like adding notes and displaying corporate events. However, for more advanced traders needing intricate watch lists and a wider range of technical indicators and drawing tools, TradeStation leads with a 4.5-star rating, an impressive 341 watchlist fields, and 294 technical indicators, making it the preferred choice for in-depth market analysis.
Webull offers a versatile trading experience through its downloadable platforms for both Windows and Mac users, as well as a user-friendly browser-based option. It provides essential features like paper trading and the ability to adjust orders directly on charts, catering to traders who are in the learning phase or prefer a simple trading environment. Despite this, Webull is limited in certain advanced functionalities, such as custom date range settings for charts and the number of available customization fields for studies.
TradeStation excels with a robust feature set for power users, offering a Windows desktop platform and a sophisticated browser-based experience. Its platform caters to serious traders with a broader range of customization options, like setting custom date ranges, and a massive array of indicators and watchlist fields. While it lacks a Mac desktop application, its enhancements in technical tools outweigh this limitation, providing superior analytical capacities and earning it a higher rank in trading platform reviews.
| Feature |
Webull
|
TradeStation
|
|---|---|---|
| Web Trading Platform | Yes | Yes |
| Desktop Trading Platform | Yes | Yes |
| Desktop Platform (Mac) | Yes | No |
| Paper Trading | Yes | Yes |
| Watch Lists - Total Fields | 35 | 341 |
| Charting - Indicators / Studies | 52 | 294 |
| Charting - Drawing Tools | 19 | 23 |
| Platforms & Tools |
|
|
Dive deeper: Best Online Brokers & Trading Platforms for 2025, Best Paper Trading Apps & Platforms for 2025
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For beginners seeking to enhance their investment knowledge, Webull and TradeStation both offer educational resources, but with varying strengths. Webull provides a more comprehensive array of learning tools, offering education on stocks, ETFs, and options, with the added benefit of educational videos, webinars, and interactive quizzes. These quizzes allow users to test their understanding and track their learning progress, making it easier for beginners to gauge their advancement. Additionally, the platform supports practical learning with paper trading, allowing users to practice without any financial risk. On the education front, Webull is rated 4 out of 5 stars, earning it the 10th spot out of 14 brokers ranked by StockBrokers.com.
TradeStation also provides educational resources, including stock and options education and a solid array of webinars and educational videos to help users boost their market knowledge. While it offers paper trading like Webull, TradeStation lacks training in ETF investments and doesn't provide quizzes or mechanisms for tracking learning progress. These limitations are reflected in its educational rating of 3 stars and its ranking of 13th among 14 brokers in educational offerings according to StockBrokers.com. Both platforms deliver valuable resources, but Webull offers a broader and more interactive educational experience for those starting or looking to expand their knowledge in the world of investing.
| Feature |
Webull
|
TradeStation
|
|---|---|---|
| Education (Stocks) | Yes | Yes |
| Education (ETFs) | Yes | No |
| Education (Options) | Yes | Yes |
| Education (Mutual Funds) | No | No |
| Education (Fixed Income) | No | No |
| Paper Trading | Yes | Yes |
| Videos | Yes | Yes |
| Webinars | Yes | Yes |
| Education |
|
|
Dive deeper: Best Stock Trading Platforms for Beginners of 2025
When comparing the mobile stock trading apps of Webull and TradeStation, Webull emerges as a slightly more versatile option for users who value a wide array of app capabilities. Both platforms offer iPhone and Android applications, but Webull extends its reach to Apple Watch users, a feature absent in TradeStation. Furthermore, Webull ranks higher for its app capabilities as per StockBrokers.com, coming in at 5th place compared to TradeStation’s 8th, and both receive a commendable 4.5-star user rating for their mobile trading apps.
Webull particularly stands out by providing users with after-hours stock trading and the unique ability to view charts in landscape mode, allowing for better visualization of data. While both brokers support mobile options trading and offer streaming quotes, Webull takes it a step further by offering 56 technical studies compared to TradeStation's 45, and the capability to display stock comparisons on charts. Moreover, Webull supports the viewing of charts across multiple time frames, enhancing user flexibility and depth in technical analysis.
Though both brokers allow for the creation and management of custom watch lists, TradeStation provides more customization options for watch list columns. These subtle differences make Webull a more appealing choice for those who rely heavily on comprehensive charting capabilities and cross-platform accessibility, all while maintaining comparable features like stock alerts and basic chart functionalities. However, those who prefer more tailored list options might find TradeStation's capabilities better suited to their needs.
| Feature |
Webull
|
TradeStation
|
|---|---|---|
| iPhone App | Yes | Yes |
| Android App | Yes | Yes |
| Apple Watch App | Yes | No |
| Stock Alerts | Yes | Yes |
| Charting - After-Hours | Yes | Yes |
| Charting - Technical Studies | 56 | 45 |
| Mobile Trading Apps |
|
|
Dive deeper: Best Stock Trading Apps for 2025
When comparing Webull and TradeStation, Webull stands out as the more cost-effective option due to its straightforward fee structure. With no minimum deposit or fees for regular stock trades and options contracts, Webull offers an appealing choice for budget-conscious traders. Additionally, Webull charges considerably lower rates for margin balances and imposes zero fees for IRA accounts' annual maintenance and closures. By contrast, TradeStation, while offering free stock trades and no minimum deposits, charges $0.60 per options contract and has higher margin interest rates alongside an annual IRA fee of $35 and closure fee of $50, in addition to more costly account transfers and fees related to options exercises and assignments.
When it comes to margin trading, Webull provides a better deal than TradeStation. For balances below $25,000, Webull's interest rate is 9.24% compared to TradeStation’s 13.0%. As the margin amounts rise to between $25,000 and $49,999, Webull's interest rate decreases to 8.74%, while TradeStation remains at 13.0%. Further increases in margin amounts, from $50,000 to $99,999, reduce Webull's rate to 8.24%, whereas TradeStation's rate only drops to 12.5%. This cost efficiency makes Webull particularly attractive for those who frequently utilize margin accounts.
Regarding additional account fees, Webull again proves to be more economical. Webull does not charge any fees for IRA accounts and their closures, unlike TradeStation which charges $35 and $50, respectively. Webull's account transfer fees, both partial and full, are set at $75, compared to TradeStation's $125. In terms of options fees, Webull imposes no charges for exercise or assignment, while TradeStation charges $14.95 and $5.95, respectively. These differences in fees underscore Webull's appeal to traders seeking a cost-effective and uncomplicated trading experience.
| Feature |
Webull
|
TradeStation
|
|---|---|---|
| Minimum Deposit | $0.00 | $0.00 |
| Stock Trades | $0.00 | $0.00 |
| Options (Per Contract) | $0.00 | $0.60 |
| Options Exercise Fee | $0.00 | $14.95 |
| Options Assignment Fee | $0.00 | $5.95 |
| IRA Annual Fee | $0.00 | $35.00 |
| IRA Closure Fee | $0.00 | $50.00 |
Dive deeper: Best Free Trading Platforms for 2025
When evaluating Webull and TradeStation for day trading, both platforms provide essential tools but cater to different needs. Webull offers streaming time and sales data for stocks, ladder trading, trading hotkeys for quick trade entries, and level 2 quotes, which can be advantageous for active traders looking for simplicity and speed. However, it lacks features like direct market routing and strategy backtesting, which some traders might find limiting. Additionally, Webull doesn't provide a short locator tool or order liquidity rebates, potentially affecting its appeal for traders looking to short sell or benefit from trading fees.
Conversely, TradeStation presents a more comprehensive package for those who demand advanced day trading capabilities. Like Webull, it offers streaming time and sales data, ladder trading, trading hotkeys, and level 2 quotes. Yet, it stands out with direct market routing, basic and advanced strategy backtesting, a short locator tool, and order liquidity rebates. These features make TradeStation a more enticing option for traders who need detailed market access, enhanced analytical tools, and the ability to optimize trading strategies effectively.
| Feature |
Webull
|
TradeStation
|
|---|---|---|
| Streaming Time & Sales | Yes | Yes |
| Streaming TV | No | No |
| Direct Market Routing - Equities | No | Yes |
| Level 2 Quotes - Stocks | Yes | Yes |
| Trade Ideas - Backtesting | No | Yes |
| Trade Ideas - Backtesting Adv | No | Yes |
| Short Locator | No | Yes |
Dive deeper: Best Day Trading Platforms for 2025
When weighing market research capabilities between Webull and TradeStation, Webull edges out with an overall rating of 2.5 out of 5 stars for market research, compared to TradeStation's 2 stars. In the ranking by StockBrokers.com, Webull is positioned at #9 out of 14 brokers, while TradeStation holds the #11 spot. This suggests Webull may offer a slightly more comprehensive experience for those prioritizing market research in their online trading platforms.
Both Webull and TradeStation provide essential stock and ETFs research, ensuring investors have a solid foundation for making informed decisions. However, neither platform offers mutual funds or bonds research, limiting the breadth of available insights for those interested in diverse asset classes. Interestingly, while Webull and TradeStation both support research on Pink Sheets/OTCBB, users will not find ESG insights or downloadable PDF research reports for stocks, ETFs, or mutual funds on either platform.
Examining specific tools, one notable difference is that Webull innovatively integrates social media sentiment data within its stock research offerings, providing a modern twist on market analysis that TradeStation lacks. However, TradeStation compensates with the ability to view portfolio allocation by asset class, which Webull does not offer. Both platforms feature a stock screener for trade ideas, making them equally useful for generating new investment concepts in this area. Yet, neither provides ETF, mutual fund, nor bond screeners, highlighting a common limitation in their research capabilities.
| Feature |
Webull
|
TradeStation
|
|---|---|---|
| Research - Stocks | Yes | Yes |
| Screener - Stocks | Yes | Yes |
| Research - ETFs | Yes | Yes |
| Screener - ETFs | No | No |
| Research - Mutual Funds | No | No |
| Screener - Mutual Funds | No | No |
| Research - Fixed Income | No | No |
| Screener - Fixed Income | No | No |
| Research |
|
|
When it comes to banking services, both Webull and TradeStation fall short of offering traditional banking products that some investors might find convenient. Neither Webull nor TradeStation provides checking accounts, savings accounts, CDs, debit cards, or credit cards, making them similar in their lack of these standard financial services. Additionally, for those looking into mortgage loans, both platforms also leave their users without options. Investors comparing these two online brokers should note that if they require integrated banking services, they might need to look beyond these platforms to fulfill those needs.
| Feature |
Webull
|
TradeStation
|
|---|---|---|
| Checking Accounts | No | No |
| Savings Accounts | No | No |
| Debit Cards | No | No |
| Credit Cards | No | No |
| Mortgage Loans | No | No |
| Brokerage CDs | No | No |
Dive deeper: Best Brokerage Checking Accounts for 2025
After opening live accounts and testing 14 of the best online brokers, our research and live account testing finds that Webull is better than TradeStation. Webull finished with an overall score of 81.0%, while TradeStation finished with a score of 80.2%.
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.
Webull and TradeStation both currently do not offer crypto trading, with neither platform providing any coins for crypto trades, leaving the count at zero for each.
Dive deeper: Best Online Brokers for Crypto Trading in 2025
Both Webull and TradeStation offer traditional and Roth IRA accounts; however, Webull stands out by offering no annual or closure fees, unlike TradeStation, which charges $35 annually and $50 for account closure.
Dive deeper: Best IRA Accounts for 2025
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0 of 5| Overall Rating | Webull | TradeStation | |
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| Review | Webull Review | TradeStation Review |
| Broker Screenshots | Webull | TradeStation | |
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| Trading Fees | Webull | TradeStation | |
|---|---|---|---|
| Minimum Deposit | $0.00 | $0.00 | |
| Stock Trades | $0.00 | $0.00 | |
| Penny Stock Fees (OTC) | N/A | $0.01 | |
| Mutual Fund Trade Fee | N/A | $14.95 | |
| Options (Per Contract) | $0.00 | $0.60 | |
| Futures (Per Contract) | $1.25 | $1.50 | |
| Broker Assisted Trade Fee | N/A | $25 |
| Margin Rates | Webull | TradeStation | |
|---|---|---|---|
| Margin Rate Under $25,000 | 9.24% | 13.0% | |
| Margin Rate $25,000 to $49,999.99 | 8.74% | 13.0% | |
| Margin Rate $50,000 to $99,999.99 | 8.24% | 12.5% | |
| Margin Rate $100,000 to $249,999.99 | 7.74% | 12.0% | |
| Margin Rate $250,000 to $499,999.99 | 7.74% | 12.0% | |
| Margin Rate $500,000 to $999,999.99 | 6.74% | 7.5% | |
| Margin Rate Above $1,000,000 | 6.24% | 7.5% |
| Account Fees | Webull | TradeStation | |
|---|---|---|---|
| IRA Annual Fee | $0.00 | $35.00 | |
| IRA Closure Fee | $0.00 | $50.00 | |
| Account Transfer Out (Partial) | $75.00 | $125.00 | |
| Account Transfer Out (Full) | $75.00 | $125.00 | |
| Options Exercise Fee | $0.00 | $14.95 | |
| Options Assignment Fee | $0.00 | $5.95 |
| Investment Options | Webull | TradeStation | |
|---|---|---|---|
| Stock Trading | Yes | Yes | |
| Account Feature - Margin Trading | Yes | Yes | |
| Fractional Shares (Stocks) | Yes | No | |
| OTC Stocks | Yes | Yes | |
| Options Trading | Yes | Yes | |
| Complex Options Max Legs | 4 | 4 | |
| Futures Trading | Yes | Yes | |
| Forex Trading | No | No | |
| Crypto Trading | No | No | |
| Crypto Trading - Total Coins | 0 | 0 | |
| Fixed Income (Treasurys) | No | Yes | |
| Fixed Income (Corporate Bonds) | No | Yes | |
| Fixed Income (Municipal Bonds) | No | Yes | |
| Traditional IRAs | Yes | Yes | |
| Roth IRAs | Yes | Yes | |
| Advisor Services | No | No | |
| International Countries (Stocks) | 0 | 0 |
| Order Types | Webull | TradeStation | |
|---|---|---|---|
| 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 | No | Yes |
| Beginners | Webull | TradeStation | |
|---|---|---|---|
| Education (Stocks) | Yes | Yes | |
| Education (ETFs) | Yes | No | |
| Education (Options) | Yes | Yes | |
| Education (Mutual Funds) | No | No | |
| Education (Fixed Income) | No | No | |
| Education (Retirement) | No | No | |
| Retirement Calculator | No | No | |
| Investor Dictionary | Yes | No | |
| Paper Trading | Yes | Yes | |
| Videos | Yes | Yes | |
| Webinars | Yes | Yes | |
| Progress Tracking | Yes | No | |
| Interactive Learning - Quizzes | Yes | No |
| Stock Trading Apps | Webull | TradeStation | |
|---|---|---|---|
| iPhone App | Yes | Yes | |
| Android App | Yes | Yes | |
| Apple Watch App | Yes | No | |
| 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 Features | Webull | TradeStation | |
|---|---|---|---|
| Market Movers (Top Gainers) | Yes | Yes | |
| Stream Live TV | No | No | |
| Videos on Demand | No | 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 | No | Yes |
| Stock App Charting | Webull | TradeStation | |
|---|---|---|---|
| Charting - After-Hours | Yes | Yes | |
| Charting - Can Turn Horizontally | Yes | No | |
| Charting - Multiple Time Frames | Yes | Yes | |
| Charting - Technical Studies | 56 | 45 | |
| Charting - Study Customizations | Yes | Yes | |
| Charting - Stock Comparisons | Yes | No |
| Trading Platforms | Webull | TradeStation | |
|---|---|---|---|
| Active Trading Platform | N/A | TradeStation 10 | |
| Desktop Trading Platform | Yes | Yes | |
| Desktop Platform (Mac) | Yes | No | |
| Web Trading Platform | Yes | Yes | |
| Paper Trading | Yes | Yes | |
| Trade Journal | No | No | |
| Watch Lists - Total Fields | 35 | 341 |
| Stock Chart Features | Webull | TradeStation | |
|---|---|---|---|
| Charting - Adjust Trades on Chart | Yes | Yes | |
| Charting - Indicators / Studies | 52 | 294 | |
| Charting - Drawing Tools | 19 | 23 | |
| Charting - Notes | Yes | Yes | |
| Charting - Historical Trades | Yes | Yes | |
| Charting - Corporate Events | Yes | Yes | |
| Charting - Custom Date Range | No | Yes | |
| Charting - Custom Time Bars | No | Yes | |
| Charting - Automated Analysis | Yes | Yes | |
| Charting - Save Profiles | Yes | Yes | |
| Trade Ideas - Technical Analysis | No | Yes | |
| Charting - Study Customizations | 2 | 12 | |
| Charting - Custom Studies | Yes | Yes |
| Day Trading | Webull | TradeStation | |
|---|---|---|---|
| Streaming Time & Sales | Yes | Yes | |
| Streaming TV | No | No | |
| Direct Market Routing - Equities | No | Yes | |
| Ladder Trading | Yes | Yes | |
| Trade Hot Keys | Yes | Yes | |
| Level 2 Quotes - Stocks | Yes | Yes | |
| Trade Ideas - Backtesting | No | Yes | |
| Trade Ideas - Backtesting Adv | No | Yes | |
| Short Locator | No | Yes | |
| Order Liquidity Rebates | No | Yes |
| Research Overview | Webull | TradeStation | |
|---|---|---|---|
| Research - Stocks | Yes | Yes | |
| Research - ETFs | Yes | Yes | |
| Research - Mutual Funds | No | No | |
| Research - Pink Sheets / OTCBB | Yes | Yes | |
| Research - Fixed Income | No | No | |
| Screener - Stocks | Yes | Yes | |
| Screener - ETFs | No | No | |
| Screener - Mutual Funds | No | No | |
| Screener - Fixed Income | No | No | |
| Portfolio Asset Allocation | No | Yes |
| Stock Research | Webull | TradeStation | |
|---|---|---|---|
| Stock Research - PDF Reports | 0 | 0 | |
| Stock Research - Earnings | Yes | No | |
| Stock Research - Insiders | Yes | No | |
| Stock Research - Social | Yes | No | |
| Stock Research - News | Yes | Yes | |
| Stock Research - ESG | No | No | |
| Stock Research - SEC Filings | Yes | No |
| ETF Research | Webull | TradeStation | |
|---|---|---|---|
| ETFs - Investment Objective | Yes | No | |
| ETF Fund Facts - Inception Date | Yes | No | |
| ETF Fund Facts - Expense Ratio | Yes | No | |
| ETF Fund Facts - Total Assets | Yes | No | |
| ETF Fund Facts - Total Holdings | Yes | No | |
| ETFs - Top 10 Holdings | Yes | No | |
| ETFs - Sector Exposure | Yes | No | |
| ETFs - Risk Analysis | No | No | |
| ETFs - Ratings | Yes | No | |
| ETFs - Morningstar StyleMap | No | No | |
| ETFs - PDF Reports | No | No |
| Mutual Fund Research | Webull | TradeStation | |
|---|---|---|---|
| Mutual Funds - Investment Objective | No | No | |
| Mutual Funds - Performance Chart | No | No | |
| Mutual Funds - Performance Analysis | No | No | |
| Mutual Funds - Prospectus | No | No | |
| Mutual Funds - 3rd Party Ratings | No | Yes | |
| Mutual Funds - Fees Breakdown | No | No | |
| Mutual Funds - Top 10 Holdings | Yes | No | |
| Mutual Funds - Asset Allocation | No | No | |
| Mutual Funds - Sector Allocation | No | No | |
| Mutual Funds - Country Allocation | No | No | |
| Mutual Funds - StyleMap | No | No |
| Options Trading | Webull | TradeStation | |
|---|---|---|---|
| Option Chains - Total Greeks | 5 | 5 | |
| Option Analysis - P&L Charts | Yes | Yes |
| Banking | Webull | TradeStation | |
|---|---|---|---|
| Bank (Member FDIC) | No | No | |
| Checking Accounts | No | No | |
| Savings Accounts | No | No | |
| Credit Cards | No | No | |
| Debit Cards | No | No | |
| Mortgage Loans | No | No |
| Customer Service | Webull | TradeStation | |
|---|---|---|---|
| Phone Support (Prospect Customers) | Yes | Yes | |
| Phone Support (Current Customers) | Yes | Yes | |
| Email Support | Yes | Yes | |
| Live Chat (Prospect Customers) | No | Yes | |
| Live Chat (Current Customers) | No | Yes | |
| 24/7 Support | No | No |
| Overall | Webull | TradeStation | |
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| Winner | check_circle | ||
| Review | Webull Review | TradeStation Review |
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