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Would-be investors and traders have a wealth of options at their fingertips. Low-cost brokerage accounts are pervasive at this point, forcing them to fight one another by providing us with a growing number of features—a win for you and me.

Among those options is Webull, a fairly young but capable trading platform.

Webull offers commission-free and low-cost trading of stocks, exchange-traded funds, and other investment vehicles, available via browser or numerous apps. And it has quickly grown in popularity since its founding a few years ago, leading many prospective investors to consider Webull as either their first brokerage account—or possibly a landing place to transfer existing investment funds.

So, is Webull right for you, or are you better off with one of the other top investment platforms on the market?

Today, I’ll help you decide exactly that. Let me introduce you to the Webull trading platform, and then we’ll evaluate several Webull alternatives. While I’m very supportive of Webull for many use cases, it’s not always the best option—and that largely depends on your experience level, trading preferences, and technological requirements.

So, let’s start by getting to know Webull.

What Is Webull?

webull logo large

Webull was founded by former Alibaba Group employee Webull in May 2017. That was just a few years before COVID—and the ensuing rush of new investors, coaxed into the markets by a combination of stimulus cash and low stock market prices.

Webull has grown considerably in its short time—while it doesn’t give an exact number, estimates vary between 11 million and 13 million users currently. That’s thanks to a robust combination of basics and goodies. It allows users to buy and sell stocks and exchange-traded funds (ETFs) commission-free, as well as trade options commission-free (and in many cases, fee-free). It also boasts numerous stock analysis tools, screeners, and other trading features, which we’ll dive into here in a moment.

Webull Overview

webull sign up

  • Available: Sign up here
  • Best for: Self-directed investors and intermediate traders
  • Platforms: Desktop app (Windows, macOS, Linux), web, mobile app (Apple iOS, Android)

Webull first hit the investing world in 2018 and made a splash by offering free stock trading, as well as commission-free trading of exchange-traded funds (ETFs) and options. And since then, it has become one of the best stock trading apps for intermediate traders, though many of its features are helpful to beginner investors as well.

For one, Webull remains friendly to wallet-conscious traders today. It costs nothing to open an online stock trading account with Webull. Stocks, ETFs, and options still trade commission-free. Many options have $0 contract fees. And Webull has no deposit minimums. On top of that, it offers fractional shares, which allows investors to start buying for as little as $1.

Webull also is available across just about every platform, allowing you to research, trade, and track your stocks on your smartphone, tablet, or desktop.

Why choose Webull to trade stocks?

Webull provides traders with a number of useful features and tools, including:

  • Customizable screeners for both stocks and ETFs
  • Preset lists–including Top Gainers, Top Losers, Most Active, and Best-Performing Industries—traders can use to identify opportunities
  • Free real-time stock quotes
  • 12 charting tools and more than 50 technical indicators
  • Real-time stock alerts you can set to notify you of events such as significant price action or certain technical conditions
  • Numerous order types—simple orders such as limit and market orders, sure, but also group orders such as bracket, OTO, and OCO orders
  • Quant ratings that help you to evaluate stocks through numerous lenses, such as growth, value, income, quality, and momentum

These tools make Webull one of the best stock research and analysis apps for traders.

Webull Smart Advisor

Webull has recently added a robo-advisory service called Webull Smart Advisor that’s available for balances as little as $100. The process starts with a short risk assessment, then after you make a qualifying deposit, your money will be allocated into a portfolio built by Webull’s investment team with the help of artificial intelligence. From there, Webull Smart Advisor will monitor and automatically rebalance your portfolio. Conveniently, you can both view your robo-advised funds and manage your self-directed trading from the same app.

The functionality is sound, but fees are a mixed bag. Webull Smart Advisor is currently offered fee-free, but starting Sept. 30, 2023, it will charge a 0.20% annualized fee, billed monthly, with a monthly minimum of $1. As a percentage, that’s much lower than most robo-advisory fees. But I did the math, and the fees are particularly onerous for small-balance investors.

For instance, while 0.2% on a minimum $100 investment translates to just 1.7 cents per month, or 20 cents per year, someone holding just $100 in Webull Smart Advisor would still be charged $1 per month, or $12 per year—effectively a 12% annual fee! In short: You’ll be charged more than 0.20% for any balance below $6,000. So consider Webull’s fees carefully.

Other noteworthy features

Webull provides one month of free Level 2 Quotes powered by Nasdaq TotalView. Per Webull: “It provides the best 50 levels of bids and asks for all NASDAQ-, NYSE- and regional-listed stocks on NASDAQ Market Center. It includes the prices and quantities of displayed quotes and orders, allowing investors to better determine the availability or demand for a stock at a certain price.” Experienced day traders can use these quotes to try to determine where the stock market is headed in the very short term. (Note: Level 2 Quotes cost $2.99 per month after the free trial.)

Traders can even get paid for stocks they’re sitting on. Webull’s Stock Lending Income Program allows you to receive interest, accrued daily and paid monthly, for allowing Webull to borrow certain stocks. The interest rate varies widely depending on demand for a particular stock.

Webull also has a couple other fun (and still useful!) features. For instance, you can set up voice commands that will allow you to simply speak to buy, sell, or look up information on a ticker. There’s also “Big Button Mode,” which, as you’d guess by the name, populates giant buttons on your screen that allow you to quickly make trades with just a push.

We’ll point out that while Webull allows for many types of commission-free trades, other costs will still apply to a few transactions. For instance, a 55-cent contract fee applies to certain options trades. Webull doesn’t directly charge fees for trading cryptocurrencies, but it does build a 1-percentage-point markup into the price of cryptocurrency when you buy or sell crypto. And Webull’s margin rates, which are variable depending on the debit balance, are currently roughly middle-of-the-road.

You should also know that you can’t buy mutual funds on Webull, though that’s more of a concern for long-term investors and less so for traders.

Regardless, Webull remains one of the best, and most cost-friendly, trading platforms you can come across. And on top of all the free features mentioned above, Webull also runs frequent promotions that allow investors to collect free stocks.

Read more in our Webull review, or sign up at Webull today.

Related: 7 Best Stock Recommendation Services [Stock Tips + Picks]

Webull Alternatives—Our Top Picks

Best Stock Trading App for Beginners
Trading Platform With Low Margin Rates
Trading App With Alternative Assets
Commission-free trading. Robinhood Gold: $5/mo., free 30-day trial.
Commission-free trading.
Basic: Commission-free trading. Premium: $10/mo.
Best Stock Trading App for Beginners
Commission-free trading. Robinhood Gold: $5/mo., free 30-day trial.
Trading Platform With Low Margin Rates
Commission-free trading.
Trading App With Alternative Assets
Basic: Commission-free trading. Premium: $10/mo.

The Best Webull Alternatives

Now, let’s take a look at several alternatives to Webull.

Importantly, no one else in the stock brokerage industry is an exact feature-for-feature match—some boast more tools, some deliver fewer benefits, and some just offer different combinations of features that make sense for specific traders or investors.

User experience will be different, too. Some of the apps below have much more simplified interfaces that are more ideal for beginners who want to do some basic investment portfolio tracking, while others deliver elaborate setups best utilized by more seasoned traders.

1. Robinhood (Best Simple Stock Trading App for Beginners)

robinhood sign up

  • Available: Sign up here
  • Best for: Beginner traders
  • Platforms: Web, mobile app (Apple iOS, Android)

Robinhood is one of the top Webull competitors. It’s a pioneer of commission-free stock trading, jumping into the investing public’s consciousness in 2013 when they rolled out commission-free trading. It remains a standout option for cost-minded investors thanks to their continued $0 commissions on stocks, ETFs, and options, as well as for its fractional trading, which allows people to invest with as little as $1.

More importantly, though, Robinhood has evolved from a bare-bones app appealing to mostly beginner investors to a fuller-featured account suitable for a wider range of experience levels.

For instance, Robinhood now offers individual retirement accounts (IRAs) and Roth IRAs via Robinhood Retirement. Functionally, it comes up short compared to many other IRA providers because of its investment options. It offers just stocks and ETFs; like with its brokerage account, mutual funds aren’t available. Options aren’t currently available, though Robinhood has explicitly stated that options will be made available soon.

However, Robinhood Retirement still stands out from the pack because it’s the only IRA provider that offers matching funds. If you open up an IRA with Robinhood Retirement, Robinhood will match 1% of any IRA transfers, 401(k) rollovers, and annual contributions to your account—and 3% if you pay for the Robinhood Gold service ($5 per month)—typically almost immediately after you make your contribution. Better still: Any matches made on annual contributions don’t count toward your contribution limit. You can choose your IRA investments yourself, but Robinhood’s Portfolio Builder can also provide you with a custom recommended portfolio made up of five to eight ETFs.

Robinhood has long catered to younger investors with its gamified interface and growing library of educational content. But over the years, it has added a boatload of other features for new and experienced investors alike, landing it a solid slotting on this list of the best Webull alternatives. Advanced Charts, for instance, provides simple and customizable charts with a variety of technical features. Robinhood’s Options Strategy Builder simplifies the options-trading process by helping you build a strategy based on what you expect your target stock or ETF will do in the future. Robinhood also offers 24/7 commission-free cryptocurrency trading with Robinhood Crypto (though you’ll still have to pay a spread), allows extended-hours trading, and lets users earn interest through stock lending.

Robinhood Gold, which I mentioned above, is a monthly subscription service that offers several more features mostly geared toward advanced traders. Benefits include Level II market data provided by Nasdaq, a lower charged rate on margin investing than regular accounts, higher interest on uninvested brokerage cash via the cash sweep program, and bigger Instant Deposits.

Sign up for a Robinhood brokerage account or Robinhood retirement account today.

Related: 13 Best Stock Picking Services, Sites, Advisors and Subscriptions

2. Moomoo (Trading Platform With Low Margin Rates)

moomoo signup new

  • Available: Sign up here
  • Best for: Advanced traders
  • Platforms: Desktop app (Windows, macOS), web, mobile app (Apple iOS, Android)

Moomoo is a commission-free trading platform for stocks, ETFs, and options. While Moomoo is best for advanced traders, offering powerful tools to empower your trading insights and strategies, it takes a different approach from other similarly targeted platforms, favoring simple interfaces and high ease of use. The desktop platform is highly customizable, while the mobile app is straightforward, allowing you to search for stocks and trade with minimal hassle.

Still, Moomoo has more than enough under the hood for advanced traders to get the job done. Its charting system, for instance, includes 62 technical analysis indicators and 22 drawing tools. You can set up alerts based on changes in price, bids, turnover ratio, and more. Free Level 2 market data helps you get a greater understanding of a stock’s value, determine how liquid a stock truly really is, and better time your trades. You can even enjoy 24/7 financial news handpicked by Moomoo’s editorial team. The trading platform provides these features to empower investors to make better investing decisions.

One Moomoo feature worth noting is its mobile charting, which allows traders to take advantage of more than 60 investing indicators and 38 drawing tools. And any drawings or annotations you make are saved and synced with your profile so you can view them from either the app or your desktop.

While Moomoo isn’t as suitable to beginner traders, the trading platform does include some useful educational tools. For instance, paper trading functionality with real-time data simulates the investment experience without committing any of your real money. (This feature is also helpful to advanced traders, allowing them to test out strategies and hone their skills.)

Moomoo also boasts relatively low rates for trading on margin. The annualized interest rate on financing, as of this writing, is 6.8%—one of the most competitive rates among its peers.

The app pays you for giving it a spin by offering free stocks when you make a qualifying deposit after signing up. Specifically, you can get free stocks if you sign up for a Moomoo account and make a qualifying deposit.

If you want a professional-grade system for research and trading, but with a simpler user experience, Moomoo is among the best trading platforms to consider.

For Moomoo disclaimer, please see the fine print at the bottom of this article.

Related: 13 Best Stock & Investment Newsletters for Inbox Alpha

3. Public.com (Trading App With Alternative Assets)

public signup

  • Available: Sign up here
  • Best for: New investors with limited capital
  • Platforms: Web, mobile app (Apple iOS, Android)

Public.com is an investing app that offers commission-free stock trading and is geared toward Millennials and Gen-Zers. The investment platform has built up the types of assets available to its users as of late. On Public, users can trade not just stocks and ETFs in the stock market, but also more than 25 different cryptocurrencies, and more recently, alternative assets from art to sneakers.

That last point is worth noting. Alternative assets are a relative rarity among stock trading apps. They can be difficult to research (and thus difficult to properly invest in), but they can provide uncorrelated returns compared to the stock and bond markets, so many savvy investors like to diversify into these assets. So naturally, if you want your stock-and-ETF account to handle alternative assets, too, that makes Public.com an easy choice over Webull—and just about any brokerage account, for that matter.

The “Public” part of the name nods at the platform’s social aspect. For one, you can make your portfolio holdings open to other users, and conversely, you can look through other Public users’ portfolios. Investors can also connect with corporate founders and CEOs through live “Town Hall” meetings.

Public also acts as a micro-investing app, allowing you to invest in fractional shares with as little as $1.

While the number of tradable assets on Public.com is growing, it’s still somewhat limited: It doesn’t offer mutual funds, options, bonds, or futures. New users are also limited to individual brokerage accounts.

Users also can upgrade their experience with the $10/month Public Premium subscription.

Public Premium offers some features that are included in some free brokers’ services, but other features justify the cost. For instance, Premium offers extended-hours trading (8 to 9:30 a.m., and 4 to 8 p.m. Eastern) and stock price alerts—several competitors, such as TradeStation and E*Trade, deliver these services at no charge. However, Premium also provides:

  • Advanced data on companies—Public.com’s examples include Tesla quarterly deliveries by model or Apple’s annual sales by continent
  • Institutional-grade research provided by Morningstar
  • Members-only analysis about events including major economic report releases, earnings announcements, and more
  • Exclusive audio programming by Public.com’s expert analysts

If you’re interested, you can sign up today and receive a free “slice of stock.” Or, if you’re transferring funds from a different brokerage account, Public.com will provide you with a cash bonus. While Public says it will pay out up to $10,000, that’s on an account transfer of $5 million plus. More common payouts include $150 for transfers of between $5,000 and $24,999, and $250 for transfers of $25,000-$99,999. (And at the very least, if you transfer at least $500, Public will reimburse you up to $100 per transfer for any fees charged by your original brokerage firm.)

Read more in our Public.com investing app review.

For Public.com disclaimer, please see the fine print at the bottom of this article.

Related: 11 Best Non-Stock Investments [Alternatives to the Stock Market]

4. SoFi Invest (Best for Personal Finance-Focused Investors)

sofi invest free stocks

  • Available: iOS, Android, Web
  • Best for: Traders looking for an all-in-one personal finance experience
  • Platforms: Web, mobile app (Apple iOS, Android)

SoFi is a multi-faceted financial company that offers everything from credit cards and insurance to student loans and mortgages … and they also allow you to trade and invest through its SoFi Invest app.

With SoFi Invest, you can invest as actively or as passively as you’d like.

The Active SoFi Invest Brokerage Account has no required minimum balance, charges no commissions on stock, ETF, and options trades, and its options trading is free of contract fees, too. SoFi does offer 24/7 cryptocurrency trading, too, but it charges a 1.25% markup on transactions.

The interface is still very much geared toward younger, less experienced investors—everything is focused on simplicity and ease of use, rather than an expanse of sophisticated tools. SoFi also offers budget-friendly features such as fractional shares, which allow you to invest for as little as $1. And SoFi even provides a social element, such as bringing SoFi members together at exclusive events.

Want to put your portfolio on autopilot? SoFi’s robo-advisory services will create a portfolio for you free of charge (that can be designed to address one or several goals) and auto-rebalance it for you as necessary over time.

SoFi also occasionally has sign-up bonuses attached to its brokerage accounts and/or its crypto trading services, which you can read more about below. You can also visit SoFi to learn more or sign up today. You can also download the app for iOS and Android.

Related: 7 Best Stock Portfolio Management Software Tools + Apps

5. TradeStation Select (Best for Advanced Traders)


  • Available: Sign up here
  • Best for: Advanced traders, options and futures traders, active stock traders
  • Platforms: Desktop app (Windows), web, mobile app (Apple iOS, Android)

TradeStation Select is a powerful trading system that includes a full-featured desktop app, a robust web trading platform, and a highly rated stock trading app—all of which include numerous tools for trading stocks that are useful to seasoned professionals. Advanced traders especially will find TradeStation a more suitable fit than Webull; less experienced traders, however, might not need all of TradeStation’s horsepower.

Much like every other online discount broker found on this list, this free stock trading app helps traders avoid commissions. Specifically, TradeStation offers zero commissions on stocks, exchange-traded funds, options, futures, micro futures, and futures options.

But the reason traders opt for TradeStation isn’t just the cost—well, lack of it—but its advanced trading features and services.

What makes TradeStation different?

TradeStation is one of the most high-powered stock trading platforms on this list. That’s because opening a TradeStation brokerage account provides you with free access to the TradeStation Analytics platform, which includes tools such as:

  • Matrix: TradeStation packs market depth, advanced order entry, and order tracking all in a single window, then combines it with one-click trading and extremely fast order execution. TradeStation calls it the “Swiss Army Knife of trading tools,” and it’s an apt description.
  • RadarScreen: Identify trading opportunities with RadarScreen, a real-time screener that can monitor as many as 1,000 tickers. You can also use RadarScreen to rank those stocks based on your own custom criteria, or based on more than 180 preset (but customizable) fundamental and technical indicators.
  • OptionStation Pro: This app provides a more visually appealing, and easier-to-understand, method of exploring the options markets. You can build option chains, model options positions with 3D graphics, and quickly place your trades.
  • EasyLanguage: Want to take your trading to the next level? Create your own tools, indicators, even applications to execute smart trading strategies with this trading-focused programming language—a language TradeStation already uses in every one of its indicators, strategies, and user functions.

(Note: Even if you don’t use TradeStation as your trading platform, you can still access TradeStation Analytics for $99 per month if you’re a non-professional trader, or $199 per month if you’re a professional trader.)

Other trading features include a simulated trading mode that allows you to test out trading plans without putting your funds at risk, backtesting, and customizable charting.

A passive feature of note is the Fully Paid Stock Lending Program. Through the program, you can allow TradeStation to lend out fully paid or excess margin securities, and in exchange, they’ll pay you a portion of the interest TS earns each day.

Other considerations

While TradeStation is commission-free, it’s hardly cost-free. For instance, all stock options trades still require a 60-cent contract fee. Futures trades are charged $1.50 per contract per side, micro futures trades are charged 50 cents per contract per side, and futures options are charged $1.50 per contract per side. Margin rates, currently in the double digits, are high compared to peers. And mutual fund fees are a steep $14.95 per trade—no big deal for traders, who likely would avoid them anyways, but a hurdle for anyone looking to buy and hold mutual funds in their TS account.

And let’s be clear: Beginning traders could be overwhelmed by this service, which caters to extremely active and experienced traders.

Regardless, TradeStation’s top-of-class trading tools (and a wide variety of ways to access them) makes it one of the best stock trading platforms for advanced traders on this list. Intermediate users should be able to make plenty of hay on this platform, too. So if you’re interested, visit TradeStation to sign up for an account or get more information.

Related: 6 Best Apps for Trading Stock Market Futures

6. Firstrade (Webull Alternative for Beginner Traders)

firstrade sign up

  • Available: Sign up here
  • Best for: Beginners, traders looking for low options fees
  • Platforms: Web, mobile app (Apple iOS, Android)

Traders looking for a gentler hand might prefer Firstrade over Webull.

Firstrade might not have the same name recognition among younger investors as platforms such as Robinhood and Acorns, but if you’re just getting started on trading stocks, it very well could be the best option for you regardless.

For one, Firstrade has some of the best trading fees among all stock trading apps. Like most of the competition, it offers $0 commissions on stock and ETF trading. But it also offers free trading of no-load mutual funds, load mutual funds, and no-transaction-fee (NTF) mutual funds. And Firstrade goes a step above the zero-commission options trading offered at other apps—in addition to no commission, Firstrade also charges no contract fees and no exercise and assignment fees.

Firstrade does have one cost disadvantage that mostly pertains to more advanced traders, and that’s margin rates. While its rates vary depending on account size, most are currently in double digits and are much higher than most of its competitors.

In addition to the assets mentioned above, Firstrade also offers cryptocurrency trading. It has a decent list of 40 or so digital currencies you can trade—better than some other beginner investing apps, though not as robust as some higher-powered platforms. Crypto trading is technically commission-free, too. But like some other brokers, it adds a markup (Firstrade charges 1%) on both sides of each crypto trade.

The mobile apps, for iOS and Android, are user-friendly; features include Face ID login, charting, and real-time streaming quotes. But users should know that the mobile experience is pared down compared to the primary web experience.

Firstrade also offers a scaling cash bonus for new accounts depending on how much money you use to fund your account. The promo states cash bonuses are up to $4,000, but that’s for a deposit of more than $1.5 million. Cash bonuses for more common beginner-investor sums include:

  • $50 on a deposit of at least $5,000
  • $100 for at least $10,000
  • $300 for at least $25,000
  • Firstrade also will provide up to $200 to cover any transaction fees

Looking for a comprehensive solution for all of your trading needs? Learn more about Firstrade or sign up today.

Related: 11 Best Stock Advisor Websites & Services to Seize Alpha

7. E*Trade (Webull Alternative for Options Traders)

etrade signup invest

  • Available: Sign up here
  • Best for: Intermediate investors
  • Platforms: Web, mobile app (Apple iOS, Android)

E*Trade has long been seen as a leading stock trading app for retail investors, and it’s one of the most competitive brokerage alternatives to Webull.

E*Trade, like most of the best stock trading apps, offers zero-commission stock, ETF, and options trading. It also has a leg up on some platforms by offering $0-commission mutual fund trading. Options still incur a 50- to 65-cent contract fee, however. Meanwhile, bond trades are $1 apiece, and future trades are $1.50 per contract per side, plus other fees.

E*Trade has two platforms, both of which are free, and both of which have web and mobile versions:

Power E*Trade

Power E*Trade is designated for more intermediate-to-advanced traders. Features include:

  • Advanced charting that includes intraday and historical options; more than 100 studies; over 100 drawing tools; and the ability to automatically identify technical patterns
  • Snapshot Analysis, which lays out risk-reward probabilities in your options trading
  • Powerful stock and trade scanner; use preset filters or customize as you wish
  • Paper trading to test out strategies without putting your money at risk
  • Ability to design exit strategies

Like with the Power E*Trade web platform, the Power E*Trade app is a more powerful version of its basic counterpart. This app allows you to use preset scans, work with interactive charts, place complex options trades, and more.


The “basic” E*Trade web platform might be more suitable for beginning-to-intermediate traders and investors, but that doesn’t mean it’s short on features.

E*Trade’s main web platform includes everything you need to keep up to date on your portfolio, including real-time quotes, charts, market commentary, and stock news. The latter includes free access to Thomson Reuters and TipRanks research. Meanwhile, you’ll have ample tools at your disposal, including stock, mutual fund, bond, and ETF screeners; trade optimizers; backtesters; and more.

E*Trade also touts its educational resources, which includes articles, videos, and classes, as well as monthly webinars and live events. But we will note that its educational content is difficult to sort through.

E*Trade Pro

E*Trade does have a third platform, which it doesn’t even openly promote, called E*Trade Pro. This is a more advanced trading platform for active traders that boasts even more powerful tools to research and trade stocks and options. To get E*Trade Pro, you’ll need to call the broker and establish that you’re going to be an active trader (10 or more trades per month) and are going to fund your account with at least $25,000. E*Trade will then sync up your account on the back end to provide you access with E*Trade Pro.

Other considerations

Like with a couple other trading apps on this list, E*Trade also allows you to earn additional income by allowing the firm to borrow your fully paid-for holdings. E*Trade also offers retirement planning to clients as well as some in-person informational sessions.

E*Trade also provides investors access to educational resources that assist you with conducting investment research, portfolio analysis, and building a diversified set of holdings.

Visit E*Trade to learn more or sign up today.

Related: 11 Best Stock Screeners & Stock Scanners

8. TD Ameritrade/Schwab (Webull Alternative for All Experience Levels)

tdameritrade sign up

  • Available: Sign up here
  • Best for: All levels of trading experience
  • Platforms: Desktop app (Windows, macOS, Linux), web, mobile app (Apple iOS, Android)

TD Ameritrade is among the best stock trading apps for intermediate and beginner traders, making it another formidable rival to Webull. But some massive changes are afoot that would-be new users should know about before diving in.

Charles Schwab announced in 2019 that it would acquire TD Ameritrade, and it closed on the deal in 2020. While it has allowed the TD Ameritrade system to operate independently since then, Schwab announced that in 2023, it would be migrating existing TD accounts over to Schwab—which means if you open a TD account now, you’ll be using Schwab’s platform by the end of the year.

One thing that will stick around is TD’s popular Thinkorswim—an advanced trading platform also available across desktop, web, and mobile. The service boasts 400,000 economic data points, more than 400 technical studies, an earnings tool that explains their effect on options prices, even a programming language so you can build your own trading algorithms. And the Thinkorswim mobile app is more dynamic than even many full-featured desktop and web platforms. Schwab’s equivalent is StreetSmart Edge, which simultaneously isn’t as powerful but is more streamlined and user-friendly.

For now, it appears Schwab will offer both products once it has fully merged with TD, allowing them to meet the needs of a much wider range of trading experience.

Otherwise, TD and Schwab’s primary offerings have a lot of similarities, especially on pricing. Both have zero commissions for stock and ETF trades. Both charge 65 cents per contract on options trades, and $2.25 per contract on futures trades. Both offer desktop apps, mobile apps, and web interfaces. Schwab and TD both offer robo-advisory products. They both have 24/7 customer support. They even share a similar drawback: neither directly offers cryptocurrency, just Bitcoin futures.

TD Ameritrade users might feel the switch is a downgrade if they access their brokerage account on multiple platforms—TD’s experience is more similar and consistent through all of its platforms compared to Schwab. But they’ll get a couple of upgrades, too, including a larger selection of no-load, no-fee mutual funds (more than 20,000 at Schwab vs. more than 3,600 at TD), and more initial access to international exchanges. And for advanced traders, Schwab does feature higher-than-average margin rates, but that’s still better than TD, which typically has some of the highest margin rates among popular brokerages.

For now, you can still sign up for TD Ameritrade and get to learn Thinkorswim. Just don’t get too attached to TD’s main account interface, because that will be changing.

Related: 11 Best Stock Trading Apps [Free + Paid]

9. Interactive Brokers (Best for Day Traders)

interactivebrokers sign up

  • Available: Sign up here
  • Best for: Advanced and professional traders seeking low margin rates
  • Platforms: Desktop app (Windows, macOS), web, mobile app (Apple iOS, Android)

Interactive Brokers, founded in 1978, is one of the largest U.S. electronic trading platforms, offering traders access to stocks, bonds, funds, options, cryptocurrencies, foreign exchange, and more. Advanced and professional traders likely will find this more powerful platform more suitable than Webull for their trading requirements.

IB’s Trader Workstation (TWS) is Interactive Brokers’ flagship desktop program—a trading platform with roots back to 1995. But since then, the company has launched a number of other access points for brokerage accounts, including:

  • IBKR Mobile: A powerful app for iOS and Android that allows people to trade on the go
  • IBKR GlobalTrader: A simplified app for iOS and Android that targets global traders, allowing deposits in up to 23 different currencies
  • Client Portal: A lighter web-based platform allowing clients to manage their account, evaluate performance, and read market news
  • IBKR EventTrader: A web-based platform allowing investors to trade “event” contracts (yes-or-no questions like “Will the S&P 500 Index close above 3,900 today?”)
  • IBKR Impact: A mobile app that helps investors select holdings most in line with their values.

But Workstation remains the workhorse. The platform supports investments across 150 global markets, and offers a wide variety of features, including real-time monitoring, risk management tools, paper trading—all packaged under a heavily customizable layout.

While TWS users can still select the original view, they can build their own bespoke view through Mosaic. Functions such as stock monitoring, order entry, charts, and more appear as “tiles,” sized and arranged however you want them, and you can save custom layouts designed for one or more monitors.

Trader Workstation also lets investors:

  • Create example watchlists
  • Use preset scans or build your own
  • Create real-time trading alerts using price, time, margin, and volume
  • Access more than 100 order types and algorithms to execute better trades
  • Read breaking news from Reuters, Dow Jones, and other financial news outlets
  • Access research from Morningstar, Zacks, and other firms

Interactive Brokers offers two primary plans—IBKR Lite and IBKR Pro—and both have no account minimums and zero maintenance fees. They also provide investors with access to many of the same features, including the Client Portal, Trader Workstation, and IBKR Mobile platforms; advanced order types; fractional shares of U.S. and European stocks and ETFs; paper trading; and Risk Navigator, which evaluates your risk in single positions or across your entire portfolio.

IBKR Lite is most suitable for beginner and intermediate investors, offering unlimited commission-free U.S.-listed stock and ETF trading, and fixed pricing for non-U.S.-listed stocks and ETFs, mutual funds, options, and futures.

IBKR Pro, meanwhile, is meant for advanced investors and active traders. While it does charge commissions on even U.S.-listed stocks and ETFs, it provides better execution for trades via its IB SmartRouting, which seeks out the best available prices for stocks and options across exchanges and dark pools—possibly resulting in lower spreads that offset the commissions you pay. It also offers better margin rates than Lite, though both platforms’ rates are among the best on offer.

Pro also offers some features not available on IBKR Lite, including higher interest paid on idle cash balances, lower interest charged on margin loans, backtesting, and access to IBKR APIs, which allow you to build your own custom trading applications and even develop commercial trading software—features often used by hedge funds, Registered Investment Advisors (RIAs), and proprietary trading firms. This makes the service our top pick for day trading platforms.

We should note that IBKR’s rating does get dinged (by both us and app-store users) for its sometimes buggy mobile-app experience. But the desktop app is a mainstay among advanced and professional traders.

You can visit Interactive Brokers to sign up or learn more.

Related: 20 Best Investing Research & Stock Analysis Websites

Webull Alternatives: FAQs

question and answer faq

Do any of the Webull Alternatives above charge trading commissions?

All of the Webull alternatives listed above offer commission-free trading on stocks and ETFs, just like Webull. Many also offer commission-free options trading, but Webull has a leg up by offering many options trades with zero contract fees, as well. E*Trade, Interactive Brokers, and TradeStation, for instance, all have contract fees, though Firstrade and SoFi don’t.

Also worth noting: Firstrade has commission-free mutual fund trading, Schwab offers no-commission trading for some mutual funds and Treasuries, and E*Trade offers completely commission-free mutual fund and Treasury trading. Webull, on the other hand, doesn’t offer trading of mutual funds or bonds period.

Do any of the Webull alternatives covered offer robo-advisory services?

Several Webull alternatives offer robo-advisory services, though they vary widely in minimum investments and fees. For instance, you can participate in SoFi Invest’s fee-free Automated Investing service with as little as $1, but Schwab’s free Intelligent Portfolios require a $5,000 minimum. E*Trade, TD Ameritrade, and IBKR also offer robo-advisory products.

Which stock apps offer fractional shares?

Fractional shares are an important feature for many beginner investors, who typically have little money to start with. That’s good! Even a small equity investment contribution is better than nothing.

That said, while fractional shares are common enough among brokerage firms, it’s not ubiquitous—Webull offers it, and only some of its competitors do. SoFi, Interactive Brokers, Robinhood, Schwab, and Public.com offer fractional trading, while Schwab and E*Trade only allow it when participating in dividend reinvestment programs (DRIPs). Also, all fractional trading isn’t made the same. For instance, IBKR, Robinhood, and Public.com all allow you to invest in fractional shares for as little as $1. Webull, SoFi, and Schwab all require a minimum of at least $5 for fractional shares—and Schwab only allows you to trade fractions of S&P 500 stocks.

Which stock apps offer extended-hours trading?

Virtually all trading apps allow for trading between normal stock market opening hours at 9:30 a.m. ET and closing hours at 4 p.m. ET, Monday through Friday. However, many allow you to trade during “extended hours.” Premarket trading typically runs between 8 and 9:30 a.m. ET, and after-market trading extends from 4 p.m. ET through 8 p.m. ET, though some accounts offer even more availability.

Webull offers extended-hours trading, as do several of its competitors, including E*Trade, Firstrade, Interactive Brokers, Moomoo, Robinhood, Schwab, SoFi, TD Ameritrade, TradeStation. Public.com does provide fee-free extended-hours trading, but only through its paid Premium service.

Which apps offer portfolio and tax reports?

All of the aforementioned brokerages offer overviews of your portfolio within the software and/or apps, typically on your home screen. If you require any information for tax reporting purposes, the brokerages will mail you a copy of the appropriate filled-out forms, but printable electronic copies should be available within your account options, too. Most brokerages typically also have blank printable tax forms should you need them.

Related: Best Quicken Alternatives

Public.com Disclaimer

This does not constitute investment advice. Investing involves the risk of loss, including the potential loss of principal. Brokerage services for US-listed, registered securities available on Public are offered by Open to the Public Investing, Inc. (OTTP), a member of FINRA & SIPC, and a wholly-owned subsidiary of Public Holdings, Inc. Brokerage services for alternative investments are offered by the Dalmore Group, LLC, a member of FINRA & SIPC. Alternative investments are over-the-counter equity securities that have been issued pursuant to Regulation A of the Securities Act of 1933. Cryptocurrency trading is provided by Apex Crypto LLC (NMLS ID 1828849). Apex Crypto is licensed to engage in the virtual currency business by the New York State Department of Financial Services. New customers of OTTP receive free stock valued between $3 – $1,000 (0.3% receive the maximum value).

Moomoo disclaimer

Moomoo’s parent company is Nasdaq-listed Futu Holdings Ltd (FUTU). Their subsidiaries are licensed and regulated in the United States, Singapore, Australia and Hong Kong.

About the Author

Riley Adams is the Founder and CEO of Young and the Invested. He is a licensed CPA who worked at Google as a Senior Financial Analyst overseeing advertising incentive programs for the company’s largest advertising partners and agencies. Previously, he worked as a utility regulatory strategy analyst at Entergy Corporation for six years in New Orleans.

His work has appeared in major publications like Kiplinger, MarketWatch, MSN, TurboTax, Nasdaq, Yahoo! Finance, The Globe and Mail, and CNBC’s Acorns. Riley currently holds areas of expertise in investing, taxes, real estate, cryptocurrencies and personal finance where he has been cited as an authoritative source in outlets like CNBC, Time, NBC News, APM’s Marketplace, HuffPost, Business Insider, Slate, NerdWallet, Investopedia, The Balance and Fast Company.

Riley holds a Masters of Science in Applied Economics and Demography from Pennsylvania State University and a Bachelor of Arts in Economics and Bachelor of Science in Business Administration and Finance from Centenary College of Louisiana.