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Articles / Webull vs Firstrade: 2023 Comparison

Webull vs Firstrade: 2023 Comparison

Franklin Carneiro da Silva| Updated: February 27, 2023

Are you confused about whether to choose Webull vs Firstrade as a broker for your investing needs?

In this side-by-side comparison, we analyse Webull vs Firstrade 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!

Ideal for
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,…).

Ideal for
US investors looking for US options only

Firstrade is a traditional company founded in 1985 that recently changed its strategy to become a commission-free online trading platform for stocks, ETFs and options.

The broker is considered safe, with a long track record that survived a few crises and top-tier regulators’ supervision.

The main drawbacks are its limited products offering (no European ETFs, stocks,…) and the fact that it only offers fractional shares on reinvested dividends.

Pros and Cons

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

Pros

  • Commission-free stock, ETF, mutual fund and options trading
  • Good research and educational content
  • No inactivity fees
  • No minimum deposit

Cons

  • You can trade only on US markets
  • No 24/7 customer support
  • No demo account
  • No fractional shares
Webull vs Firstrade: 2023 Comparison 3
Webull vs Firstrade: 2023 Comparison 4
  •  
  • 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)
  • WebullAsset 3
  • General Information
  • Founded in2017
  • Demo Account
  • Account Minimum$0
  • Interest on unninvested cash (annually)USD: 5.00%
  • Products
  • Stocks
  • ETFs
  • Bonds
  • Funds
  • Options
  • Futures
  • CFDs
  • Leverage Products
  • Forex
  • Cryptocurrencies
  • Commodities
  • Fees
  • US stocks$0**Regulatory fees apply
  • EU stocksNot Applicable
  • ETFs$0**Regulatory fees apply
  • Cryptocurrencies1%
  • Custody Fee$0
  • Inactivity Fee$0
  • Withdrawal Fee$0
  • Connectivity Fee$0
  • Currency Conversion Fee$0
  • Security
  • RegulatorsSEC, FINRA, SFC
  • Investor Compensation Scheme(per person, per institution)

    $500,000 (securities up to $500,000, cash up to $250,000) for US customers, and HKD 500,000 for securities and HKD 0 for cash in Hong Kong and China

  • FirstradeAsset 3
  • General Information
  • Founded in1985
  • Demo Account
  • Account Minimum$1
  • Interest on unninvested cash (annually)0%
  • Products
  • Stocks
  • ETFs
  • Bonds
  • Funds
  • Options
  • Futures
  • CFDs
  • Leverage Products
  • Forex
  • Cryptocurrencies
  • Commodities
  • Fees
  • US stocks$0
  • EU stocksNot Applicable
  • ETFs$0
  • Cryptocurrencies1%**Spread on either side of a crypto trade.
  • Custody Fee$0
  • Inactivity Fee$0
  • Withdrawal Fee0$ for ACH**Wire transfers cost $30-35 (depends on your residency).
  • Connectivity Fee0$
  • Currency Conversion FeeNo available information
  • Security
  • RegulatorsFCA and FINRA.
  • Investor Compensation Scheme(per person, per institution)Up to $500,000 **Including international clients.
Franklin Carneiro da Silva
Co-Founder & Fintech Analyst

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.

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