Webull alternatives

Webull Competitors


Who are the biggest Webull competitors and alternatives? Companies like Webull (similar companies) in 2022.


Webull’s Competitors


Webull has become a top-rated broker, largely thanks to its fast (and light) desktop trading platform, mobile-friendly trading tools, the wealth of market-related data, and generous promotions.

While Webull certainly has a lot to offer, it's not the only broker to provide the services that it is known for. In fact, several other no-commission brokers provide access to stocks, ETFs, options, and cryptocurrencies. Many Webull competitors also offer services that Webull does not.

Let's take a look at some of the best Webull Alternatives.


Who are the Main Webull Competitors?


There is a very long list of brokers that we could consider as Webull competitors. The zero-commission, mobile-friendly brokerage experience is now provided by many brokers. A few noteworthy Webull competitors are TD Ameritrade, M1 Finance, and Firstrade.


TD Ameritrade


TD Ameritrade is a top-rated broker that appeals to many of the same investors who use Webull. The broker offers no-commission trading, a convenient mobile app, and access to a broad range of investment vehicles.

As far as Webull alternatives are concerned, TD Ameritrade is undoubtedly a solid choice. Here's how it compares to Webull.


Companies like Webull


How is TD Ameritrade Similar to Webull?


TD Ameritrade is similar to Webull in some ways and quite different in others. As far as similarities go, we can look at the cost structure, the mobile application, and the web-based version of the famous trading platform, thinkorswim (TOS).

Like Webull, TD Ameritrade offers zero-commission trading for stocks and ETFs. There are no account minimums to maintain at either broker, and you never have to worry about making a set number of trades in a particular amount of time. Trading at TD Ameritrade is not entirely free, however. You will pay a $0.65 fee for options transactions, and there are also some fees for securities listed on 'alternative' exchanges like international stocks, pink sheets, OTCBB stocks, and others.

The mobile experience has some similarities, too. Some investors prefer placing and managing trades on mobile, and the thinkorswim mobile app is just as capable as Webull's, if not more so. You can access advanced charting, watchlists, streaming market data, news, etc.

Thinkorswim Web is another aspect of TD Ameritrade's product that shares some similarities with Webull. Accessible from any machine type, you can load a fully featured trading platform on the browser of your choice. That means you can use thinkorswim on any PC with an internet connection.


What Does TD Ameritrade Offer that Webull Does Not?


TD Ameritrade offers many benefits to investors that Webull does not. For that reason, we have chosen it as one of our favorite Webull alternatives.

Here are some of the TD Ameritrade features that we like:

Thinkorswim is an advanced charting platform capable of handling various tasks. You can use TOS for high-frequency day trading, paper trading for all available securities, building complex options positions, screening, accessing news and current events, and much more.

TD Ameritrade also offers a good selection of account options, including multiple retirement accounts, custodial accounts, education plans, 401k plans, individual brokerage accounts, business accounts, and joint accounts. There are also some specialty accounts for various purposes available.

Investors also have access to a diverse range of investment vehicles. These include forex pairs, futures, ADRs, penny stocks, mutual funds, ETFs, stocks, and options. Bonds, CDs, and other 'safe' investments are also available.

Learn more in TD Ameritrade review »


Open TD Ameritrade Account



Open TD Ameritrade Account



M1 Finance


M1 Finance is a good Webull alternative for investors looking for a greater variety of financial management services and managed portfolios. Compared to Webull, M1 targets a similar investor group but focuses more on longer-term strategies and diversification.

Here's why investors choose M1 Finance over Webull when looking at Webull competitors.


Webull Alternatives


How is M1 Finance Similar to Webull?


M1 Finance is similar to Webull in some ways, but the two brokers are quite different. The approach to investing that M1 employs is geared more towards investors who focus on fine-tuning portfolios that meet specific goals.

As is often the case for Webull users, investors at M1 Finance enjoy the mobile experience as it is well developed and easy to use. Both brokers' pricing structures, available securities, and clearing processes are also similar. M1 Finance and Webull share the same clearing firm (Apex Clearing), and you will notice several parallels between the two as a result.


What Does M1 Finance Offer that Webull Does Not?


Investors looking for more than basic brokerage services will do well to consider M1 when looking at Webull competitors. Automated investing tools, built-in cash management solutions, loans backed by investments, and a visual approach to investing, are all examples of the types of services M1 provides.

M1 offers customers a one-stop shop of sorts for their investment needs. As a customer, you can fund an account, purchase stocks or ETFs, and create 'Pies' (M1's approach to portfolio building) in just a few minutes. You can also take advantage of the debit and credit cards available through M1s banking services.


Open M1 Finance Account



Open M1 Finance Account



Why Choose M1 Finance?


You may wish to choose M1 Finance if you are looking for a place to keep your funds for the long term in a balanced portfolio. The broker does not encourage active trading and has built-in systems that deter active traders. For example, traders don't have access to advanced trading software at M1, there are only two windows per day in which trades can be placed, and some advanced order entry options are 'missing.'

Learn more in M1 Finance review »


Firstrade


Like TD Ameritrade, Firstrade is a Webull competitor that has been around for decades. Firstrade provides access to many investment options and uses a familiar no-commission pricing strategy. There are many similarities between Firstrade and Webull, but there are some crucial differences as well.


Webull Competitors


How is Firstrade Similar to Webull?


Firstrade is another Webull Competitor that uses Apex Clearing as its custodian. That means you'll find many of the same securities to trade, the pricing structure is nearly the same, and you can buy and sell cryptocurrencies at both brokers.

The mobile experience at Firstrade is not as adept as Webull's, but it is still a solid mobile trading app. You'll find advanced order types, watchlists, market-related news, and some basic charting.


Open Firstrade Account



Open Firstrade Account



What Does Firstrade Offer that Webull Does Not?


One of the most significant advantages of choosing Firstrade as a Webull alternative is the zero-commission OTC trading. You can trade penny stocks for no additional fees, which is something that you will not find at many other brokers. Webull doesn't even offer true penny stocks, so it's certainly nice to have Firstrade as an alternative if Pink Sheets are something that you are interested in.

Another reason you would choose Firstrade over Webull is the availability of mutual funds. Firstrade offers more than 11,000 mutual funds, spread across three categories: Load Funds, No-Load Funds, and NTF Funds.

Learn more in Firstrade review »


Updated on 5/25/2022.


Ben Wright
About the Author
Ben Wright is an investor, a trader, an educator, and something of an explorer. He spends his days in the markets when he is not teaching or spending time with his family. Ben writes about stockbrokers, markets, investment vehicles, promotional offers, and tools that help investors make the most of their time in the markets.