Webull vs Fidelity (2024)


Fidelity Investments or Webull — which is better in 2024? Compare margin accounts, online trading fees, stock broker extended hours, and differences.


Webull vs. Fidelity Introduction


Fidelity Investments markets itself much more than Webull. But does this mean it's a better brokerage firm? Our study provides the answer.


Cost


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


Promotions


Webull: Up to 75 FREE fractional shares when you make a deposit at Webull.

Fidelity: Get $0 stock commissions.



Available Products


Fidelity allows its traders to engage in various investment opportunities through self-directed accounts:

  • Cryptocurrencies (currently only 2)
  • Options
  • Closed End Funds
  • Exchange Traded Funds
  • Mutual Funds
  • Bonds
  • Stocks (including stocks from overseas)

Webull users miss out on mutual funds, bonds, and foreign stocks.


Webull vs Fidelity


Fidelity offers advisory accounts for investments, featuring both automated and personalized service options. The automated service starts at 0.00% and involves trading Fidelity Flex mutual funds, which carry no fees.

Webull provides two tax setups for trading: individual taxable accounts and IRAs. Fidelity offers these and a wider range of options, like estate accounts, trusts, and solo 401k plans.

Winner: Fidelity


Websites


Fidelity's website includes tools for account management and trading. Cryptocurrencies, however, need to be traded on its mobile app. We found a virtual help bot that assists with questions and tasks.


Fidelity or Webull


For trading, Fidelity's website offers several types of order forms, including advanced options like multi-contingent and OTOCO (one triggers one cancels the other) orders. A Trade Armor tool allows setting a bracket order for exiting positions at a predetermined point.

Fidelity’s site also handles bonds, basket orders, mutual funds, and options, offering some pre-set derivative strategies and routing options.

Webull’s website lacks direct routing or integrated option strategies but has a browser platform, unlike Fidelity. It includes only basic account management tools.


Webull vs Fidelity


Trading on Webull’s platform features various order types similar to those on Fidelity—like OCO and bracket orders, along with exclusive tools like price ladders and time & sales data.

Paper trading is a unique feature of Webull’s platform, not found on Fidelity’s software. Advanced order types are not included in this demo.

Winner: Overall, it’s pretty even


Mobile Apps


Both brokers offer mobile apps for trading and managing accounts. Fidelity provides news from Reuters and Bloomberg, extensive market data, and features like showing buy/sell ratios for assets.


Fidelity versus Webull


Fidelity’s charting can be displayed in full-screen and horizontal formats, featuring multiple styles and tools such as:

- Various plot styles like mountain and OHLC
- Comparisons
- Technical studies
- Different scale options

Fidelity's app offers a classic and a Beta mode, the latter required for trading cryptocurrencies. Beta is simpler to use.

Webull’s app has only one mode but includes features like simulated trading and social networking with other traders—options not available on Fidelity’s app.


Webull vs. Fidelity


Webull’s charting capabilities include horizontal orientation and various innovative tools. Events such as open orders and trading history can be toggled on and off. The app also features a dual-charting mode that stacks two charts vertically.

Winner: Another draw


Desktop Software


Both Webull and Fidelity offer advanced desktop programs that come with many high-level features.


Webull versus Fidelity


Webull’s desktop platform works on Windows, Mac, and Linux. Our investigation revealed tools like:

- Custom layouts
- Several integrated option strategies
- Simulated trading
- Learning center (to learn the platform)
- Multiple trade tickets with advanced orders

Fidelity’s platform, named Active Trader Pro, works on Windows and Mac. It also has many sophisticated features that experienced traders will appreciate. We found:

- A basket order ticket that can send multiple orders at once
- A conditional order ticket with advanced orders like OTO
- Time & sales data
- Integrated option strategies with profitloss diagrams
- Level II quotes
- Direct-access routing with a few ECN choices
- Full-screen charts with lots of tools


Fidelity or Webull


While ATP has a few research tools, they tend to open new pages in the default web browser. ATP also offers a link to live streaming of business news, which is missing on Webull’s platform.

Winner: Fidelity


Margin


Both firms start with cash accounts, but you can upgrade to margin trading on their websites. Webull requires a $2,000 balance to apply for this.

Whether margin is active or not, Webull’s software displays detailed information for entered ticker symbols, including overnight and day-trading leverage. Fidelity’s software does not show this information.

Webull also offers lower prices for margin borrowing. Currently, the broker charges 9.74% to 5.74%. Fidelity’s rates range from 13.575% to 9.575%.

Winner: Webull


Additional Services


Banking Resources: Fidelity offers several accounts that provide impressive cash management tools. These accounts are designed for saving and spending and include features like round-ups, debit card bonuses at participating retailers, and fee-free ATM withdrawals. Webull now pays a high 5% APY interest on cash balances—much higher than most banks.

Extended-hours Trading: Both firms offer early morning and after-hours trading for ETFs and stocks, with Webull offering more hours.

Initial Public Offerings: Both brokers provide access to primary-market stock offerings.

DRIP Service: Both brokers allow traders to automatically reinvest dividends for stocks and ETFs.

Individual Retirement Accounts: Webull offers Roth and Traditional IRAs (one IRA per customer). Fidelity offers these and several other types, including SEP, SIMPLE, and Inherited accounts.

Fractional Shares: Both brokers allow purchasing assets in whole-dollar amounts.

Periodic Mutual Fund Investing: Fidelity offers scheduled investments in mutual funds.

Winner: Webull


Recommendations


ETF/Stock Trading: Both firms are great for active equity trading. Webull has much lower margin rates.

Small Accounts: Both brokers have removed fees and minimum requirements for all accounts. Webull also offers commission-free trading.

Long-Term Investors & Retirement Savers: Fidelity is the only firm in this survey that offers managed accounts and financial planning.

Beginners: Robo advisor at either firm is a good choice.

Mutual Fund Trading: Fidelity is the top choice.


Promotions


Webull: Up to 75 FREE fractional shares when you make a deposit at Webull.

Fidelity: Get $0 stock commissions.



Fidelity vs Webull Final Judgment


Fidelity’s heavy advertising does not necessarily make it a better broker than Webull. While Webull excels in equity and options trading, Fidelity is preferred for advisory accounts and global trading options.


Updated on 5/27/2024.


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 Brokerage-Review.com, Chad can usually be found managing his portfolio or building a new home computer.