Are you confused about whether to choose Charles Schwab vs Webull as a broker for your investing needs?
In this side-by-side comparison, we analyse Charles Schwab vs Webull to help you understand how these apps compare on some of the most common features and make a better-informed decision about the best broker for you.
Below, you’ll find the pros and cons of each broker, as well as a comparison table that features the different fees charged, the financial instruments supported, the regulation, and more. Keep reading!
Charles Schwab vs Webull: In a Nutshell
all account types (US investors only)
Founded in 1971, Charles Schwab Corporation, commonly known as Schwab, is a leading American brokerage and banking company.
It pioneered the concept of discount brokerage, offering commission-free online trades and providing access to a vast selection of investment options.
Moreover, Schwab operates as a full-service bank, providing a range of banking products such as checking accounts, savings accounts, mortgages, and loans.
US investors looking for commission-free stock, ETF and options trading
Webull is a user-friendly and modern investment app based in the United States, which does not charge a commission when investing in some of its financial products.
It offers trading in stocks, options, ETFs, cryptos, fractional shares, and even Over-The-Counter (OTC) stocks. New users get up to 12 free stocks.
Webull appeals more to beginners but the brokerage also delivers a wide range of tools for more advanced investors (in-depth charting, dozens of technical indicators, customization,…).
Pros and Cons
Charles Schwab
Pros
- 0% commissions on stocks and ETFss
- Accoun types: Individual, joint, IRAs, education savings accounts, 529 education accounts, SEP IRA and solo 401(k)
- Excellent research tools
- Acess to fractional shares
- Large selection of mutual funds
- No minimum account
Cons
- No direct investing in Crypto (only through futures, ETFs, etc)
- No access to European stocks
Webull
Pros
- Commission-free stock, ETF and options trading
- Fast and easy account opening
- No inactivity fee
- No minimum deposit
- Demo account
Cons
- Limited product portfolio
- Expensive for deposits and withdrawals
- No live chat support
Charles Schwab vs Webull: Side-by-side Comparison
- General Information
- Founded in
- Demo Account
- Account Minimum
- Interest on unninvested cash (annually)
- Products
- Stocks
- ETFs
- Bonds
- Funds
- Options
- Futures
- CFDs
- Leverage Products
- Forex
- Cryptocurrencies
- Commodities
- Fees
- US stocks
- EU stocks
- ETFs
- Cryptocurrencies
- Custody Fee
- Inactivity Fee
- Withdrawal Fee
- Connectivity Fee
- Currency Conversion Fee
- Security
- Regulators
- Investor Compensation Scheme(per person, per institution)
Franklin is a CFA Level III Candidate with 3 years of experience in Wealth Management as a Fund Research Analyst and the Host of the "Edge Over Hedge" YouTube Channel.
