WeBull vs tastyworks


tastyworks or WeBull - which is better in 2022? Compare investing accounts, online trading fees, stock broker extended hours, and differences.



Synopsis of Webull and tastyworks


If you’re in the hunt for a discount broker with good software, you might want to consider Webull and tastyworks. While they do have some similarities, there are also some important differences between them. For example:


Cost


Broker Fees Stock/ETF
Commission
Mutual Fund
Commission
Options
Commission
Maintenance
Fee
Annual IRA
Fee
WeBull $0 na $0 per contract $0 $0
Tastyworks $0 na $0.50 per contract $0 $0


Services


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


Promotions


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

tastyworks: $0 commissions + $75 for each friend referred with this referral code.



Tradable Assets


tastyworks customers can buy and sell the following financial instruments:

  • Equities
  • Exchange-traded funds
  • Closed-ended funds
  • Futures, including bitcoin contracts
  • Options, including index options and options on futures
  • Cryptocurrencies

Webull offers the following securities:


Winner: tastyworks


Funds


tastyworks offers very little information on funds. Using its software, which we will look at in just a minute, we found liquidity ratings, trade data (such as volume and implied volatility), and alerts. Somewhat surprisingly, there is no fund screener at all. There are also no fund reports or fund commentary.

Webull doesn’t have a fund screener, either. It does offer news articles and fund details, such as:

  • Inception date
  • Fund manager
  • Asset allocation
  • Margin details, for both long and short positions
  • Trade data, such as 52-week low and OHLC numbers
  • Morningstar rating
  • Order flow

Winner: Webull


Stock Research


Moving from funds to stocks, we do find a screener at Webull. The tool is user-friendly and offers just five search criteria. While this number is somewhat disappointing, the software does produce results that can easily be sorted. Clicking on an entry populates an order ticket for quick trading.

Equity profiles at Webull deliver quite a few details, such as trade recommendations from stock analysts. During our research, we also found price targets on some stocks, a definite plus. Other highlights include:

  • Time & sales data
  • Order flow
  • News articles
  • Details from financial statements in graphical format

Moving on to tastyworks, we lose the screener. We do get multiple pre-installed watchlists and a few trade details, such as volume and liquidity. Missing are analysts’ trade recommendations, financial statements, and many of the resources available to Webull clients.

Winner: Webull


Trading Software


When it’s time to place a trade, Webull customers can use a desktop application, which also functions as a browser system. With either configuration, the look and tools are the same.


Webull


Highlights include:

  • Full-screen charting
  • Order ticket with integrated bracket orders
  • Simulated trading
  • Margin details on long and short positions
  • Multiple trade windows on a screen

At tastyworks, traders get the same setup: a browser platform and a desktop program. The two platforms are very similar, although not exactly the same. Charting isn’t available in full-screen mode, although tasty does provide more technical studies than Webull. Unfortunately, neither tasty platform offers simulated trading.


tasty works


The tasty browser platform has a very good options trading system with multi-leg strategies. Webull’s software only offers calls and puts at this time.

Winner: Draw


Mobile Apps


Both brokerage firms offer mobile apps. Webull customers once again get paper trading (with competitions among other traders). Likewise, tasty once again offers option spreads, which aren’t available on the Webull app.


WeBull


Another notable highlight is a community forum on Webull’s app. This great feature isn’t available on tasty’s app, although it is possible to follow what trades tastyworks executives are making.


tastyworks


Winner: Webull


Day Trading


Margin: Both firms offer margin accounts. We like Webull’s margin windows for long and short positions on every security profile.

Level II Quotes: Despite tastyworks’ emphasis on trading, it doesn’t offer Level II quotes at any price. Webull customers can sign up for $1.99 per month.

Extended-Hours Trading: Both broker-dealers offer extended-hours trading. Webull has the longer session.

Winner: Webull


Other Services


DRIP service: tastyworks provides dividend reinvesting at no charge, a great service that Webull clients don’t have.

IRAs: While both brokerage firms offer IRA’s, only tastyworks has the SEP version.

Fractional shares: Webull offers it.

Winner: Tie


Our Recommendations


Stock and ETF Trading: Webull.

Beginners: Webull.

Long-Term Investors and Retirement Savers: Webull.

Small Accounts: Either.

Options trading: tasty.



Promotions


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

tastyworks: $0 commissions + $75 for each friend referred with this referral code.




Webull vs tastyworks Judgement


Looks like we have a pretty even match-up overall. Despite tasty’s emphasis on short-term trading, we would choose Webull for day trading.



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.