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TradeStation vs Webull 2021

Is TradeStation better than Webull? After testing 11 of the best online brokers over three months, TradeStation (76.56%) is better than Webull (65.17%). As a trading technology leader, TradeStation supports casual traders through its web-based platform and active traders through its award-winning desktop platform, all with $0 stock and ETF trades.


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Overall Rating

Feature TradeStation Webull
Overall 4 3.5
Commissions & Fees 4.5 4.5
Offering of Investments 4.5 2.5
Platforms & Tools 5 3
Mobile Trading 4 4
Research 2 2.5
Education 3 1.5
Ease of Use 4.5 5
TradeStation Review Webull Review
Winner check_circle

Trading Fees

Feature TradeStation Webull
Minimum Deposit $0.00 $0.00
Stock Trades $0.00 $0.00
ETF Trade Fee $0.00 $0.00
Mutual Fund Trade Fee $14.95 N/A
Options (Base Fee) $0.00 $0.00
Options (Per Contract) $0.50 $0.00
Futures (Per Contract) $1.50 N/A
Broker Assisted Trades Fee $50.00 N/A

Margin Rates

Feature TradeStation Webull
Under $24,999.99 9.50% 6.99%
$25,000.00 to $49,999.99 9.50% 6.49%
$50,000.00 to $99,999.99 8.75% 6.49%
$100,000.00 to $249,999.99 8.75% 5.99%
$250,000.00 to $499,999.99 8.75% 5.49%
$500,000.00 to $999,999.99 5.50% 4.99%
Above $1,000,000.00 5.50% 4.99%

Account Fees

Feature TradeStation Webull
IRA Annual Fee $35.00 N/A
IRA Closure Fee $50.00 N/A
Account Transfer Out (Partial) $125.00 $75.00
Account Transfer Out (Full) $125.00 $75.00
Returned ACH Fee $25.00 $30.00
Returned Wire Fee $25.00 $30.00
Stock Certificate Processing Fee $150.00 N/A
Stock Certificate Delivery Fee $15.00 N/A
Paper Statement Fee $1.00 $5.00
Paper Confirmation Fee $1.00 $2.00
Domestic Wire Fee $25.00 $8.00
International Wire Fee $35.00 $12.50

Investment Options

Feature TradeStation Webull
Stock Trading
Yes Yes
Fractional Shares
No No
OTCBB / Pink Sheets
Yes No
Options Trading
Yes Yes
Complex Options Max Legs
4 4
Futures Trading
Yes No
Forex Trading
No No
Crypto Trading Yes Yes
Mutual Funds (No Load)
887 0
Mutual Funds (Total)
4357 0
Bonds (US Treasury)
Yes No
Bonds (Corporate)
Yes No
Bonds (Municipal)
Yes No
Advisor Services
No No
International Trading
No No
AI Assistant Bot
No No

Order Types

Feature TradeStation Webull
Order Type - Market
Yes Yes
Order Type - Limit
Yes Yes
Order Type - Stop
Yes Yes
Order Type - Trailing Stop
Yes Yes
Order Type - Contingent
Yes No
Order Type - MultiContingent
Yes No
Order Type - OCO
Yes No
Order Type - OTO
Yes No
Order Type - OTOCO
Yes No

Trading Platforms

Feature TradeStation Webull
Desktop Platform (Windows)
Yes Yes
Desktop Platform (Mac)
No Yes
Web Platform
Yes Yes
Paper Trading
Yes Yes
Trade Journal
No No
Heat Mapping
No No
Watch Lists - Total Fields
335 35

Charting Features

Feature TradeStation Webull
Charting - Trade Off Chart
Yes No
Charting - Indicators / Studies
290 44
Charting - Drawing Tools
23 14
Charting - Historical Trades
Yes Yes
Charting - Corporate Events
No Yes
Charting - Automated Analysis
No No
Charting - Save Profiles
Yes No
Trade Ideas - Technical Analysis
Yes No
Charting - Study Customizations
12 2
Charting - Custom Studies
Yes Yes

Day Trading

Feature TradeStation Webull
Stock Alerts - Basic Fields
Yes Yes
Stock Alerts - Advanced Fields
Yes No
Streaming Time & Sales
Yes No
Streaming TV
No No
Direct Market Routing - Stocks
Yes No
Direct Market Routing - Options
Yes No
Ladder Trading
Yes No
Trade Hot Keys
Yes Yes
Level 2 Quotes - Stocks
Yes Yes
Level 2 Quotes - Options
Yes Yes
Trade Ideas - Backtesting
Yes No
Short Locator
Yes No
Order Liquidity Rebates
Yes No

Mobile Trading Apps

Feature TradeStation Webull
iPhone App
Yes Yes
Android App
Yes Yes
Apple Watch App
No No
Trading - Stocks
Yes Yes
Trading - After-Hours
Yes Yes
Trading - Conditional Orders
Yes No
Trading - Mutual Funds
No No
Trading - Simple Options
Yes Yes
Trading - Complex Options
Yes No
Trading - Option Rolling
No No
Touch / Face ID
Yes Yes
Mobile Trading 4 4

Mobile App Features

Feature TradeStation Webull
Watch List Syncing
Yes Yes
Stock Alerts
Yes Yes
Charting - After Hours
Yes Yes
Charting - Drawing
Yes Yes
Charting - Study Customizations
Yes Yes
Heatmapping
No No
Stream Live TV
No No
Barcode Lookup
No No
Mobile Trading 4 4

Research Overview

Feature TradeStation Webull
Research - Stocks
Yes Yes
Research - ETFs
Yes Yes
Research - Mutual Funds
No No
Research - Pink Sheets / OTCBB
Yes No
Research - Fixed Income
No No
Screener - Stocks
Yes Yes
Screener - ETFs
No No
Screener - Mutual Funds
No No
Screener - Options
Yes No
Screener - Bonds
No No
Misc - Portfolio Builder
No No
Misc - Portfolio Allocation
No Yes

Stock Research

Feature TradeStation Webull
Stock Research - Reports
0 0
Stock Research - Earnings
No Yes
Stock Research - Insiders
No Yes
Stock Research - Metric Comp
No No
Stock Research - SEC Filings
No Yes
Stock Research - Social
No Yes
Stock Research - Balance Sheet
No Yes
Stock Research - Cash Flows
No Yes
Stock Research - News
Yes Yes
Stock Research - ESG
No No

ETF Research

Feature TradeStation Webull
ETFs - Strategy Overview
No No
ETFs - Top 10 Holdings
No Yes
ETFs - Sector Exposure
No Yes
ETFs - Risk Analysis
No No
ETFs - Performance Analysis
No Yes
ETFs - Ratings
No No
ETFs - Morningstar StyleMap
No No
ETFs - Reports
No No

Mutual Fund Research

Feature TradeStation Webull
Mutual Funds - Strategy Overview
No No
Mutual Funds - Prospectus
No No
Mutual Funds - Reports
No No
Mutual Funds - Fees Breakdown
No No
Mutual Funds - Top 10 Holdings
No Yes
Mutual Funds - Asset Allocation
No No
Mutual Funds - Sector Allocation
No Yes
Mutual Funds - Country Allocation
No Yes
Mutual Funds - StyleMap
No No
Mutual Funds - 3rd Party Ratings
No No

Options Trading

Feature TradeStation Webull
Option Chains - Streaming
Yes No
Option Chains - Total Columns
32 12
Option Chains - Greeks
5 5
Option Chains - Quick Analysis
Yes No
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 - Adv Analysis
Yes No
Option Positions - Rolling
Yes No
Option Positions - Grouping
Yes No

Beginners

Feature TradeStation Webull
Education (Stocks)
Yes No
Education (ETFs)
No No
Education (Options)
Yes No
Education (Mutual Funds)
No No
Education (Fixed Income)
No No
Education (Retirement)
No No
Paper Trading
Yes Yes
Videos
Yes No
Webinars (Monthly Avg)
10 0
Webinars (Archived)
No No
Live Seminars
Yes No
Progress Tracking
No No
Interactive Learning - Quizzes
No No

Banking

Feature TradeStation Webull
Retail Locations
0 0
Member FDIC
No No
Checking Accounts
No No
Savings Accounts
No No
Credit Cards
No No
Debit Cards
No No
Mortgage Loans
No No
No Fee Banking
No No

Overall

Feature TradeStation Webull
Overall 4 3.5
Commissions & Fees 4.5 4.5
Offering of Investments 4.5 2.5
Platforms & Tools 5 3
Mobile Trading 4 4
Research 2 2.5
Education 3 1.5
Ease of Use 4.5 5
TradeStation Review Webull Review
Winner check_circle

Comparing brokers side by side is no easy task. For our 2021 annual broker review, we spent hundreds of hours assessing 11 brokerages to find the best online broker. Let's compare TradeStation vs Webull.

Is TradeStation or Webull better for beginners?
TradeStation is better for beginner investors than Webull. TradeStation offers investors access to Paper Trading, Videos, Education (Stocks) and Education (Options).

What about TradeStation vs Webull pricing?
TradeStation and Webull have equal fees for trading stocks (equities), $0 per trade. With options, the base fee is $0 for both TradeStation and Webull. Webull's per contract rate of $0 is less than TradeStation which charges $0.50. For a complete commissions summary, see our best discount brokers guide.

Does TradeStation or Webull offer a wider range of investment options?
TradeStation offers a more diverse selection of investment options than Webull. TradeStation offers investors access to Stock Trading, OTCBB / Pink Sheets, Options Trading, Mutual Funds and Futures Trading. Looking at Mutual Funds, Webull trails TradeStation by 4,357 total mutual funds, with TradeStation offering 4357 and Webull offering 0.

Which trading platform is better: TradeStation or Webull?
To compare the trading platforms of both TradeStation and Webull, 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 TradeStation 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. Banking is not popular with TradeStation and Webull as Checking Accounts, Savings Accounts, Debit Cards, Credit Cards and Mortgage Loans are all unavailable.

Overall winner: TradeStation

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All pricing data was obtained from a published web site as of 01/19/2021 and is believed to be accurate, but is not guaranteed. For stock trade rates, advertised pricing is for a standard order size of 500 shares of stock priced at $30 per share. For options orders, an options regulatory fee per contract may apply.

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