Charles Schwab vs WeBull

WeBull or Charles Schwab - which firm is better in 2023? Compare investing accounts, online trading fees, stock broker extended hours, and differences.

Webull vs Charles Schwab Comparison (2023)

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.


Broker Fees Stock/ETF
Mutual Fund
Annual IRA
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 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.


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


WeBull: 12 FREE stocks valued $34-$30,600 give-away at Webull.

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.

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. Fractional shares of stocks and ETFs are available on Webull.

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.

Options and Crypto: definitely Webull.


WeBull: 12 FREE stocks valued $34-$30,600 give-away at Webull.

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 a trading platform. The budget broker is attracting millions new customers with its $0 commissions and now has as many clients as Schwab.

About the Author
Chad Morris is a financial writer with more than 20 years experience as both an English teacher and an avid trader. When he isn’t writing expert content for, Chad can usually be found managing his portfolio or building a new home computer.