Charles Schwab vs WeBull


WeBull or Charles Schwab - which firm is better in 2021? Compare investing accounts, online trading fees, stock broker extended hours, and differences.



Webull vs Charles Schwab Comparison (2021)


Do you want to trade securities without any commissions? Then you have to check out Webull and Schwab. In addition to great rates, both companies also provide free software and several investment services. So which firm should you choose? This comparison will give you some answers.


Cost


Broker Fees Stock/ETF
Commission
Mutual Fund
Commission
Options
Commission
Maintenance
Fee
Annual IRA
Fee
WeBull $0 na $0 per contract $0 $0
Charles Schwab $0 $49.95 $0.65 per contract $0 $0

When it comes to commissions, Webull is much better priced than Charles Schwab. The firm also offers much lower margin rates, which is important if you'll be borrowing money from your broker.


Services


Broker Review Cost Investment Products Trading Tools Customer Service Research Overall Rating
WeBull
Charles Schwab


Promotions


WeBull: Get 2 FREE stocks valued up to $1,850 + $100 in ACAT reimbursement.

Charles Schwab: Get commission-free online stock trades.



1st Category: Desktop Software


Webull clients can trade securities on the company’s PC software. It functions either in a browsing window or as a standalone desktop app. In both cases, the software has the same layout and features.

Although Webull does have a website, there is no login or trading capability. Instead, there are (very) brief security profiles and information about the firm’s broking services.

Webull’s trading platform offers charting with several display choices, ten technical indicators, and the same number of drawing tools. One tab permits several small charts to be displayed simultaneously with corresponding order tickets, which is a great feature if you need to follow multiple assets at the same time.


Webull Trading Platform


Webull’s order ticket has market, limit, stop, and stop limit trade types. The order ticket offers the ability to submit stop-loss and take-profit exit orders along with an entry order.

The final feature we really liked during our exploration was a simulated trading mode.

At Schwab, traders get to use a website, browser platform, and desktop trading system. Although the website might be stereotyped as the most basic, it actually has some robust features.

First is a trade bar. It has a small chart (with multiple timeframes) that can be expanded. Its primary weakness is that actual orders have to be submitted via web pages.

The order ticket has the same order types as we found on Webull’s computer platform plus a trailing stop order. Stop-loss and take-profit orders can only be submitted after an entry order.

Schwab’s browser platform can submit three orders at once. Moreover, stop limit is one of the choices. This order type doesn’t appear on Webull’s software.

Charting on the browser platform offers tick-by-tick price action, an unusual feature. There are 60 technical studies, 12 chart styles, and 9 drawing tools.


Charles Schwab vs Webull


Finally, we come to StreetSmart Edge, Schwab’s desktop platform. It offers Level II quotes, direct access to market centers, and advanced charting. The order ticket has the same order types as the browser platform.

Like Webull’s platform, Schwab’s desktop software has a demo mode.

We have a tie in the first category.


2nd Category: Mobile Trading


In addition to its great computer software, Schwab offers two mobile apps. One of them is modeled after the browser platform. During our probing, we found it to be buggy and difficult to use.


Charles Schwab Mobile App


But we did find the second app to be very useful. It has mobile check deposit and bill pay on top of a user-friendly order ticket. Take-profit and stop-loss orders aren’t available, though.

On Webull’s app, the order ticket does incorporate take-profit and stop-loss exit orders. Charting is on an advanced level, comparable to what we found on Schwab’s app. Although Webull’s app doesn’t have mobile check deposit, it does have a demo mode, something that’s missing on Schwab’s apps.


WeBull Investing


Overall, it’s pretty even here.


3rd Category: What Can Be Traded


And what financial instruments can be traded with these software tools? Webull clients get stocks, closed-end funds, cryptocurrencies, exchange-traded funds, and options. The company does not offer over-the-counter stocks.

Schwab customers can buy and sell options, futures (including bitcoin contracts), stocks (including OTC offerings), closed-end funds, ETF’s, mutual funds, and bonds.

Schwab is our pick here.


4th Category: Investment Research and Financial Education


The Schwab website has numerous learning materials that cover countless financial topics. Examples include technical analysis, index options, how to trade futures, saving for retirement, cost basis reporting, and much more. Mediums include articles, live webcasts, videos, and in-person events.

Screeners are available that can scan with lots of criteria. Stock profiles offer a large amount of information, including free pdf stock reports from many analysts. CNBC streams live on StreetSmart Edge free of charge.

Schwab publishes a quarterly newsletter called On Investing. It contains insightful articles on a variety of economic topics.

Webull doesn’t have a newsletter, nor does it offer in-person events or live streaming of financial news. Nevertheless, it does provide some useful security research tools. Stock profiles have a few pieces of information that Schwab doesn’t offer, like order flow and ETF holdings.

Although Webull has a stock screener, it only has a few search variables.

Schwab easily wins this one.


5th Category: Funds


Both brokerage firms offer two classes of funds: exchange-traded and closed-end. Schwab also offers mutual funds. Resources for the first two differ quite a bit.

On Webull’s website, we found details such as inception date, asset allocation, 52-week low, YTD performance, dividend history, and news articles. The broker’s computer platform has NAV history, and top 10 holdings. Notably, the firm does not have a fund screener.

Schwab does have a fund screener, for both ETF’s and mutual funds. The tools can search by many criteria. Examples include bond credit quality, sector exposure, standard deviation, alpha, price/cash flow, and many more.

Fund profiles at Schwab have a large amount of information on them. A summary can be downloaded in pdf format. We found information on quarterly returns, top holdings, distribution history, and analyst recommendations from Market Edge and Morningstar.

A fund’s prospectus is linked on a fund’s profile. Schwab offers select lists for ETF’s and mutual funds. These are groups of funds pre-screened by Schwab investment advisors for their potential upside.

Schwab definitely.


6th Category: Other Services


Dividend Reinvestment Program: Schwab (but not Webull) offers this service.

IRA’s: Both brokerage houses have Individual Retirement Accounts. Schwab has more types. It also has an IRA Center on its website with several calculators.

Automatic mutual fund investing: Schwab customers can sign up for free.

Schwab snags another one.


Our Recommendations


Beginners: With brick-and-mortar locations, 24/7 customer support, and plenty of educational resources, Schwab is the easy choice.

Mutual Fund Traders: Schwab for obvious reasons.

Long-Term Investors and Retirement Savers: Only Schwab has target-date mutual funds and a solo 401k. Plus, it offers financial planning services.

Small Accounts: Webull would be a good pick.

Stock and ETF Trading: Although both firms do offer desktop software and $0 commissions, Schwab’s platform is more advanced. Plus, we like its selection of analyst reports. On the other hand, day and short traders will like Webull’s software, which provides margin information on every entered ticker symbol. Webull also has much lower margin rates.


Promotions


WeBull: Get 2 FREE stocks valued up to $1,850 + $100 in ACAT reimbursement.

Charles Schwab: Get commission-free online stock trades.



Webull vs Charles Schwab Judgement


Schwab was the clear outperformer. Webull, however, took the crucial Cost category. The firm also offers an excellent mobile app and trading platform. The budget broker is attracting many new customers with its $0 commissions.