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Webull vs TradeStation 2023

StockBrokers.com

Written by StockBrokers.com

April 11, 2023

Is Webull better than TradeStation? After testing 17 of the best online brokers over three months, Webull (85.09%) is better than TradeStation (78.24%). 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.

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  • check_box_outline_blankcheck_boxAlly Invest
  • check_box_outline_blankcheck_boxCharles Schwab
  • check_box_outline_blankcheck_boxE*TRADE
  • 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_boxtastytrade
  • 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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Overall RatingWebullTradeStation
Overall 4.5/5 Stars 4/5 Stars
Commissions & Fees 4.5/5 Stars 4.5/5 Stars
Investment Options 4/5 Stars 4.5/5 Stars
Platforms & Tools 4.5/5 Stars 4.5/5 Stars
Mobile Trading Apps 4.5/5 Stars 4.5/5 Stars
Research 3/5 Stars 3/5 Stars
Customer Service 3.0/5 Stars 3.5/5 Stars
Education 3.5/5 Stars 3.5/5 Stars
Ease Of Use 4.5/5 Stars 3/5 Stars
Winner check_circle
Review Webull Review TradeStation Review
Trading FeesWebullTradeStation
Minimum Deposit $0.00 $0.00
Stock Trades $0.00 $0.00
Penny Stock Fees (OTC) N/A $0.00
Mutual Fund Trade Fee N/A $14.95
Options (Base Fee) $0.00 $0.00
Options (Per Contract) $0.00 $0.60
Futures (Per Contract) N/A $1.50
Broker Assisted Trade Fee N/A $0
Margin RatesWebullTradeStation
Margin Rate Under $25,000 9.49% 13.00%
Margin Rate $25,000 to $49,999.99 8.99% 13.00%
Margin Rate $50,000 to $99,999.99 8.99% 12.00%
Margin Rate $100,000 to $249,999.99 8.49% 12.00%
Margin Rate $250,000 to $499,999.99 7.99% 12.00%
Margin Rate $500,000 to $999,999.99 6.99% Varies info
Margin Rate Above $1,000,000 6.49% info Varies info
Account FeesWebullTradeStation
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 OptionsWebullTradeStation
Stock Trading Yes Yes
Margin Trading Yes Yes
Fractional Shares Yes No
OTC Stocks Yes Yes
Options Trading Yes Yes
Complex Options Max Legs 4 4
Futures Trading No Yes
Forex Trading No No
Crypto Trading Yes Yes
Crypto Trading - Total Coins 44 11
Mutual Funds (No Load) 0 800
Mutual Funds (Total) 0 4000
Bonds (US Treasury) No Yes
Bonds (Corporate) No Yes
Bonds (Municipal) No Yes
Advisor Services No No
International Countries (Stocks) 0 0
Order TypesWebullTradeStation
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
BeginnersWebullTradeStation
Education (Stocks) Yes Yes
Education (ETFs) Yes No
Education (Options) Yes Yes
Education (Mutual Funds) No No
Education (Bonds) No No
Education (Retirement) No No
Retirement Calculator No No
Investor Dictionary Yes No
Paper Trading Yes Yes
Videos No Yes
Webinars No Yes
Webinars (Archived) No No
Progress Tracking Yes No
Interactive Learning - Quizzes Yes No
Stock Trading AppsWebullTradeStation
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
SB Gallery - Mobile Apps
Stock App FeaturesWebullTradeStation
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
Watch Lists - Total Fields 35 335
Stock App ChartingWebullTradeStation
Charting - After-Hours Yes Yes
Charting - Can Turn Horizontally Yes Yes
Charting - Multiple Time Frames Yes Yes
Charting - Technical Studies 56 45
Charting - Study Customizations Yes Yes
Charting - Stock Comparisons Yes No
Trading PlatformsWebullTradeStation
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 35 335
Stock Chart FeaturesWebullTradeStation
Charting - Adjust Trades on Chart Yes Yes
Charting - Indicators / Studies 52 290
Charting - Drawing Tools 19 23
Charting - Notes Yes Yes
Charting - Index Overlays 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 TradingWebullTradeStation
Streaming Time & Sales Yes Yes
Streaming TV No No
Direct Market Routing - Stocks 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 OverviewWebullTradeStation
Research - Stocks Yes Yes
Research - ETFs Yes Yes
Research - Mutual Funds No No
Research - Pink Sheets / OTCBB Yes Yes
Research - Bonds No No
Screener - Stocks Yes Yes
Screener - ETFs No No
Screener - Mutual Funds No No
Screener - Bonds No No
Misc - Portfolio Allocation No Yes
Stock ResearchWebullTradeStation
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 ResearchWebullTradeStation
ETFs - Strategy Overview Yes No
ETF Fund Facts - Inception Date Yes No
ETF Fund Facts - Expense Ratio Yes No
ETF Fund Facts - Net Assets Yes No
ETF Fund Facts - Total Holdings Yes No
ETFs - Top 10 Holdings No 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 ResearchWebullTradeStation
Mutual Funds - Strategy Overview 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 No
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 TradingWebullTradeStation
Option Chains - Basic View Yes Yes
Option Chains - Strategy View Yes Yes
Option Chains - Streaming No Yes
Option Chains - Total Columns 23 32
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 No Yes
Option Positions - Adv Analysis No Yes
Option Positions - Rolling No Yes
Option Positions - Grouping No Yes
BankingWebullTradeStation
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 ServiceWebullTradeStation
Phone Support (Prospect Customers) Yes Yes
Phone Support (Current Customers) Yes No
Email Support Yes Yes
Live Chat (Prospect Customers) No Yes
Live Chat (Current Customers) No Yes
24/7 Support Yes No
OverallWebullTradeStation
Overall 4.5/5 Stars 4/5 Stars
Commissions & Fees 4.5/5 Stars 4.5/5 Stars
Investment Options 4/5 Stars 4.5/5 Stars
Platforms & Tools 4.5/5 Stars 4.5/5 Stars
Mobile Trading Apps 4.5/5 Stars 4.5/5 Stars
Research 3/5 Stars 3/5 Stars
Education 3.5/5 Stars 3.5/5 Stars
Ease Of Use 4.5/5 Stars 3/5 Stars
Winner check_circle
Review Webull Review TradeStation Review
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Webull vs TradeStation 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 Webull vs TradeStation.

Is Webull or TradeStation better for beginners?

TradeStation offers more comprehensive new investor education for beginner investors than Webull. Webull offers investors access to Paper Trading, Education (Stocks), Education (ETFs) and Education (Options), while TradeStation offers investors access to Paper Trading, Videos, Education (Stocks) and Education (Options). Neither have Education (Mutual Funds), Education (Bonds) and Education (Retirement). See our guide to Best Paper Trading Platforms for more.

What about Webull vs TradeStation pricing?

Webull and TradeStation charge the same amount for regular stock trades, $0.00. Option contracts are pricier at TradeStation, costing $0.60 per contract versus $0.00 per contract at Webull. For a complete commissions summary, see our best brokers for free stock trading guide.

Does Webull or TradeStation offer a wider range of investment options?

Webull offers investors access to Stock Trading, Fractional Shares, Options Trading and OTC Stocks, while TradeStation offers investors access to Stock Trading, Options Trading, OTC Stocks, Mutual Funds and Futures Trading. Neither have Forex Trading and Advisor Services. Looking at Mutual Funds, Webull and TradeStation both provide customers access to 0 no transaction fee (NTF) mutual funds.

Which trading platform is better: Webull or TradeStation?

To compare the trading platforms of Webull and TradeStation, we tested each broker's trading tools, research capabilities, and mobile apps. For trading tools, TradeStation offers a better experience. With research, Webull 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. Neither Webull nor TradeStation offers Checking Accounts, Savings Accounts, Debit Cards, Credit Cards and Mortgage Loans. Neither have Mortgage Loans.

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.

Is TradeStation good?

TradeStation supports casual traders through its web-based platform and active traders through its desktop platform. We like the web-based platform and mobile app, but the flagship desktop platform could use a refresh. TradeStation ranked among Best in Class in the Commissions and Fees and Investment Options categories in our 2023 Annual Review of online stockbrokers.

Webull vs TradeStation Winner

Overall winner: Webull

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