Webull vs. TradeZero Introduction
If basic trading tools aren’t enough for you, Webull and TradeZero may be worth a look. Both companies
offer advanced software and much more.
Cost
| Broker Fees |
Stock/ETF
Commission |
Mutual Fund
Commission |
Options
Commission |
Maintenance
Fee |
Annual IRA
Fee |
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Webull
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$0
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na
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$0 per contract
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$0
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$0
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TradeZero
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$0
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na
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$0.59 per contract
|
$0
|
na
|
Services
| Broker Review |
Cost |
Investment Products |
Trading Tools |
Customer Service |
Research |
Overall Rating |
|
Webull
|
|
|
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TradeZero
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Promotions
Webull:
Up to $1,000 cash and 20 FREE shares when you make a deposit at Webull.
TradeZero:
Trade stocks, options & ETFs for free.
Tradable Assets
TradeZero delivers a small selection of tradable instruments:
- Options
- ETFs
- Closed-end funds
- Equities, including OTC and penny stocks
Although penny stocks can be traded, anything under $1 will have a commission. Cryptocurrency trading is available with the Bahamian branch of TradeZero.
Webull customers can trade the same assets TradeZero offers plus Futures and Bonds. And there are no
surcharges on trades of penny stocks.
Winner: Webull
Margin Accounts
As avant-garde brokerage firms, Webull and TradeZero of course have margin trading. It’s possible to change between cash and margin on Webull’s website but not on TradeZero’s site. Webull, but not TradeZero, requires a cash account to have $2,000 on deposit before it can upgrade to a margin account.
Both firms provide margin details for both short and long positions on entered ticker symbols. At TradeZero, there is a Reg-T margin calculator on the website (look for it under the Tools tab). At Webull, a security’s profile has this information, and actually more.
TradeZero charges a flat 9% across all debit levels. Webull has the traditional, tiered system. Currently, it ranges from 8.74% on the first dollar and decreases to 4.74% at $3 million.
Winner: Debatable
Websites
The websites of both investment firms in this contest offer account management only. Neither one has any actual trading capability. Webull’s site does have some market and securities news. There are small graphs, and big-name stocks have lots of details on them.
For actual trading, there are platforms at both brokers that operate within a browsing window. Webull’s platform delivers lots of useful tools, including multiple trade tickets. There are seven trade possibilities:
- Market
- Limit
- Stop
- Stop limit
- Trailing stop
- Take-profit
- Stop-loss
Charts on Webull’s site can be displayed the full width of the monitor, and there are lots of gadgets.
TradeZero actually has two web-based platforms: ZeroWeb and ZeroFree. As the names suggest, one is free, and the other has a monthly charge. It is $59.
Not surprisingly, ZeroWeb has the more advanced features of the two. These include charting with multiple windows, custom layouts, and advanced hot keys. Neither one can trade options, though.
Another weakness here for TradeZero is a $2,500 balance requirement to use any platform, including ZeroFree.
Winner: Webull
Mobile Apps
TradeZero’s mobile app can’t trade options, either. However, it does have a short locate tool, making it very unique among brokerage mobile apps. Other widgets include watchlists and charts.
The Webull app doesn’t have a short locate widget, although it does have a lot of useful features. These include options trading and a community forum, neither of which will be found on TradeZero’s mobile app. Webull’s app also has two order tickets, one of which is a “Big Button” ticket that can be used to quickly send orders to the exchanges.
We also like Webull’s app for its very good charting tools, which include a unique replay mode where previous price action plays out over time. The app also has a section for Webull promotions, which are ongoing.
Winner: Webull
Desktop Software
The highest level of trading will be found at either brokerage firm using a desktop platform. Webull’s is free, while TradeZero’s platform (ZeroPro) is $59 per month (it’s included with ZeroWeb).
ZeroPro does have a lot of pro-level features. During our test drive of the software, we really liked the advanced order ticket, which includes the following features:
- Cxl Last (cancel the last order)
- Position (loads an existing position into the ticket)
- Range (bracket order)
Webull’s desktop platform also has bracket orders. Although the interface is noticeably different, the software does have a lot of the features ZeroPro has, including hot keys, advanced charting, and a watchlist. Once notable difference is the lack of options spreads on ZeroPro, which Webull’s desktop software does have.
Winner: Webull
Day Trading
PTD Rule: TradeZero customers can avoid America’s pattern-day trading rule by opening an account with the Caribbean branch of the company. Webull does not have any offshore branches to circumvent this rule.
Leverage: For major stocks and ETFs, Webull and TradeZero America have a 25% initial margin requirement for day trading. TradeZero Bahamas has up to 6:1 leverage.
Shorting: Both brokerage firms permit short positions. Only TradeZero has a short locate tool.
Day Trade Tracking: Both Webull and TradeZero show the number of day trades an account has remaining before hitting PTD status.
Extended Hours: Both firms offer pre-market and after-hours trading. They both have the same hours, too (4:00 am, EST, until 8:00 pm).
Level II Quotes: Available at both brokerage firms.
Routing Fees and Rebates: Only TradeZero has them.
Direct-access Routing: Ditto.
Winner: TradeZero
Other Services
Banking Tools: TradeZero does not offer any significant cash management features. Webull pays a very high
4.1% APY interest on cash balances.
IRAs: Only Webull offers Individual Retirement Accounts.
Dividend Reinvesting: A Dividend Reinvestment Plan is available at Webull.
IPO Access: Webull offers Initial Public Offerings.
Fractional-share Trading: Available at Webull.
Winner: Webull
Recommendations
Beginners: All three of Webull’s platforms have simulated trading. It’s possible to get a
practice subscription to ZeroPro.
Small Accounts: Because of TradeZero’s minimum balance requirement to use its software, we don’t recommend it. Webull has no such requirement (although $2,000 is required to begin using margin).
Active Stock Trading: TradeZero has the more advanced software, although we don’t like its platform fees. We do like Webull’s fractional-share trading.
Long-Term Investors & Retirement Savers: As the only brokerage firm with IRAs, Webull gets the endorsement.
Webull vs TradeZero Summary
Although TradeZero has good day-trading tools, these come at a cost, one that Webull customers don’t have to pay. Webull is clearly the better value of the two, although investors who don’t mind TradeZero’s software fees will be in good hands.
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Updated on 5/16/2025.
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.
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