Webull is a web and mobile app-based brokerage firm that offers zero-commission stock and ETF trading. The company started as a research firm and ventured into the brokerage industry in 2017. Although WeBull is made primarily for intermediate and experienced traders, the platform can also be used by beginners.
Webull offers a suite of tools consisting of margin trading, financial calendars, technical indicators, options trading, research agency ratings, and more. Right now, Webull is the best alternative to Robinhood.
Let's dive into a more detailed look into the platform to see how it stacks up against other brokerage platforms.
Through the Securities Investor Protection Corporation (SIPC) insurance, Webull protects your securities up to $500,000 and $250,000 for cash. Webull is also a member of FINRA and is registered with the SEC. Additionally, the firm’s clearing firm Apex Clearing Corp purChased an extra insurance policy for securities and cash, up to an aggregate of $150 million.
You should consider using Webull if you’re an intermediate to experienced investor or active trader looking to save money on commissions.
Webull’s intuitive features and design could be considered advanced for novice traders, but the platform provides a suite of tools for them to learn the ropes.
People looking for an alternative to Robinhood that supports options and cryptocurrency trading should consider switching to Webull.
With the trading simulator and trading courses, rookie investors can also benefit from Webull to build their competencies and create their trading plan.
Full-time day traders who need direct market access to push their trading edge should not use WeBull. Their need for speed trumps the savings they may make on commissions with Webull.
People looking for mutual funds and OTC stocks should also look elsewhere since the platform does not offer those options.
Although trading on Webull is free, you’re still responsible for paying SEC and FINRA fees, which are standard with all brokerages.
However, these fees are negligible - $23.10 for every 1 million dollars of trading volume for SEC and $0.000119 per share for FINRA.
WeBull offers real-time market data on US markets free of charge, but if you want to extend your reach and trade further internationally, you can access data on global markets for a fee.
Other fees are those associated with transferring stocks and funds. There's a $75 fee for outgoing stock transfers, and you may also be charged for wire transfers to fund your account after the initial free wire transfer. All other forms of transfer like ACH and electronic transfers, are free.
Webull offers free real-time market data, zero-commissions trading, analysis tools, and news.
If you’re just getting started investing, Webull gives you a chance to learn with the the stock trading simulator via a paper trading account. You can place mock trades without risking real money.
Other features that can be found on the platform include technical indicators such as:
Investment research tools:
If you're just getting started trading stocks, Webull is the ideal platform to test the waters with their stock trading simulator. Once you get comfortable with the platform, you can easily transition into real zero-commission trading.
Right now, Webull has a competitive edge for intermediate and experienced traders over other stock brokerages with free extended-hours stock trading, ETFs, and ADRs.
If you’re someone that wants access other investments such as mutual funds and OTC stocks, Webull is not for you.
Public is a social investing app that allows investors to trade without paying commissions. Formerly known as Matador, Public launched in March 2019. It is similar in scope to other investing apps designed for novice investors, but what sets it apart from the competition is “slice” investing and interactive social features.
Public’s goal is to make it possible to own the companies you believe in, with any amount of money — commission free. If you’re just starting out building your investment portfolio, you might not have $1,000+ available to put toward a single share of stock. The “slice” feature allows people to own fractional shares of companies at a price-point that’s most comfortable for them.
Public is a member of SIPC (Securities Investor Protection Corporation), which means your money is safe. Your securities are protected up to $500,000 and $250,000 for cash.
The Public app is user-friendly to help new and experienced investors start trading right away. Public makes it easier for novice investors with little money to get started investing in major companies by offering them “slices” of stocks.
For example, instead of having to buy one whole stock of Amazon (AMZN), which costs over $1,500, you can buy a fraction or “slice” of AMZN at any amount. Invest $10, $20, or any “slice” of AMZN amount you want.
If you don’t know where to start, there are several investing themes you can explore, or you can follow more experienced investor profiles for guidance.
Browse curated themes of stocks based on your interests. A few theme examples:
For investors who want to be part of a community, Public lets you follow, interact, and share your trades with friends and industry experts.
Public isn’t a bank, but it is one of the few places where you can store your money and get a high return.
Public currently does not support buying options. Another drawback is that Public is only available via mobile app, and a web app does not exist yet.
If you’re looking for an alternative to buy options and/or a web interface, consider using Webull instead.
Public offers zero commissions or fees for stock trade, along with no maintenance fees.
However, there are fees for other services:
Although Public is a free investing app that offers no fees on trades and no account minimums, they do make money. Below are a few ways Public makes money.
Some investors borrow stock to sell at the current price. The idea is to repurchase it at a lower price when the value drops. Thus, they make some money off the difference between the short sale and the cost of buying back the shares. Public lends out shares to such investors to short and makes some money through lending rebates.
Public passes on passes on 2.5% interest to users on any uninvested cash up to $10,000. However, Public earns interest on any uninvested funds above the $10,000 mark.
Public is available on iOS or Android mobile app. A desktop version is currently not available.
The requirements to open a Public investing account are:
The Public Investing App meets the needs of most investors – from novice to advance. The low barrier to entry makes it easy to build a portfolio and start investing. Their easy to use app, zero-commission trading and stock slices makes Public one of the most user friendly options you can check out.
