The Best Webull Alternatives (2022)

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The Best Webull Alternatives

Investing is essential if you want to secure your financial future, but the process can be daunting and overwhelming.

It’s hard to know where to start when you’re looking for an online broker or trading app, and there are so many options! Webull is one of the most popular free trading apps, and while it’s an excellent option, no investment app is perfect for every individual.

Here you’ll find our list of the best Webull alternatives. At the end of the article, you’ll find our picks for the best app for each type of investor, since there is no one-size-fits-all solution.

Webull Basics

Webull

Webull is currently offering new users up to 12 free stocks for trying the platform. You’ll get two free stocks (each worth $3 – $300) for signing up. Deposit any amount to get 4-10 more free stocks worth $7-$3,000 each. Sign up for Webull through this link to be eligible for the bonus.

Webull has been around for a few years (launched in 2017 as Webull Financial LLC), offering access to stock market trading with real-time data, economic trends, and current global market quotes to help you make your trading decisions.

The main advantage of Webull is that it has a wide variety of useful tools and resources. This includes 50 plus technical indicators, company profiles, profit earnings, statistics, and 12 types of charting tools.

The trading platform also offers exclusive access to an IPO Earnings Calendar, Capital Flows, Advanced Quotations, and Press Releases. You can follow 24/7 live stock market news updates, so you can make accurate financial analysis before you make your final trade decision.

While many other stock trading apps take a simplified approach to target new investors, Webull is one of the few that provides advanced tools.

Webull is also quite a user-friendly platform, as there are personalized mobile widgets that you can add to your home screen to customize it for your preferences. As you develop your skill set and confidence, there are also advanced levels of access to more in-depth research. Of course, you can continue to test your skills using the paper trading feature.

Webull is completely free for trading stocks and options with no account minimums. There are no annual or inactivity fees and you are only likely to come across nominal fees or non-platform fees such as the $75 fee you will incur if you want to fully or partially transfer your portfolio to a new platform.

For more details, see our Webull review.

Commission-Free Trades
Get Up to 12 Free Stocks from Webull! Get Up to 12 Free Stocks from Webull!
Features:
  • Commission-free trades of stocks, ETFs, options, and cryptocurrency
  • Buy fractional shares for any amount
  • Extended trading hours
  • Advanced reporting tools
  • IRAs now available
  • 24/7 customer service

Webull Alternatives

Webull is a solid platform, but if for any reason you’re not completely sold on it, there are some great alternatives that may appeal to you. Some great examples include:

1. Public.com

Public

Join Public to get up to $300 of free stock when you make a deposit.*

Like Webull, Public.com has been around for a few years as well, but it started out under the name Matador. Public.com offers commission-free trades of stocks and funds and boasts a sleek, easy-to-use interface that is simple for newbies or more advanced traders alike.

Public.com offers access to 5,000+ stocks and exchange-traded funds (ETFs), with support for full or fractional shares. You can search for companies or browse categories to find investments that interest you.

One of the most interesting features of Public.com is its collection of investment Themes. Themes are essentially lists of stocks and funds based on certain criteria.

For example, there are themes for companies with female CEOs, companies involved in blockchain technology, green power companies, and much more. With about 40 different themes currently available, Public.com makes it easy to find investment ideas that interest you.

Top Pick
Get Free Stock from Public.com Get Free Stock from Public.com
Features:
  • Commission-free trades of stocks and ETFs
  • Buy and sell 27 different cryptocurrencies
  • Fractional shares
  • Easy to use and beginner-friendly
  • Connect with a supportive community of investors
  • "Themes" help you to find investments that interest you
Offer valid for U.S. residents 18+ and subject to account approval. This is not a recommendation. You can lose money with any investment. Open To The Public Investing is a member of FINRA & SIPC. Regulatory and firm fees apply. New customers receive free stock with value $3-300; 0.3% receive the max value. Cryptocurrency trading provided by Apex Crypto LLC (NMLS ID 1828849). Apex Crypto is licensed to engage in virtual currency business activity by the New York State Department of Financial Services. See Public.com/disclosures/

Whenever you research a company, you can see a company description, history, and trends. You can also look at comments and conversations (left by other users) that relate to the company to help determine if it appeals to you.

However, where Public differs from Webull is there is a greater emphasis on community and collaboration. You can share your investing questions and experiences with other users. This is particularly useful for new investors, as you can see what your friends and connections are buying and selling, benefitting from the expertise of more experienced traders.

Thanks to the community of users, you can check your investments and also review strategies, and share advice. This creates a great resource for those who need to build their investing skill set or improve their confidence.

Like Webull, Public.com is a low-cost trading platform. It was developed from the idea that investing should be easily accessible to the public, so there are no commissions on stock and ETF trades and no account minimum balance requirements.

Overall, we love Public.com for its ease of use and helpful community features. For more details, please read Public.com vs. Webull.


2. Moomoo

Moomoo

Join Moomoo and get up to 15 free stocks worth up to $3,500.

Moomoo is possibly the most direct comparison to Webull in terms of features and functionality. Like Webull, Moomoo supports the trading of stocks, ETFs, and options. Moomoo also offer ADRs (investments in foreign companies) but does not currently offer cryptocurrency trading.

There are no minimum deposit requirements for Moomoo. However, when area where it currently lags behind Webull is in regards to fractional shares. Currently, Moomoo does not allows users to buy or sell fractional shares.

Moomoo is very much like Webull in that it offers a wealth of data and tools for active technical traders. In fact, the tools offered for free by Moomoo can prove to be extremely valuable.

And like Webull, Moomoo has an excellent offer of free stocks for new users.

Users get free access to level 2 data (not available with a free Webull account), updated short-selling data, advanced charting tools, and a consolidated news feed. Moomoo also offers AI monitoring and AI-powered price forecasts.

Any active trader who prefers to do a lot of research and analysis will love what Moomoo offers. At the same time, the app is well-designed and intuitive. Because there are so many tools available, it’s not quite as streamlined as Public.com, but it’s still suitable for new investors.

Moomoo also offers a nice collection of educational resources and tutorials that are great if you’re looking to learn more about investing. It also includes social features so you can interact with this community of 18 million users. The social features aren’t as extensive as what Public.com offers, but it still provides a way to connect with others.


3. Ally Invest

Ally Invest

Ally Invest is the investment arm of Ally Bank, offering numerous specialized tools to help you to build your portfolio. There’s a wide selection of investments including stocks, options, mutual funds, ETFs, and fixed income products such as bonds and CDs.

There’s also a dedicated, separate platform for foreign exchange trades with over 50 currency pairs. However, there are no cryptocurrencies and Ally Invest does not offer fractional shares.

Ally Invest is a fully functioning platform, but the main home screen also shows your Ally bank accounts, managed accounts, and any Ally loans. You need to click a link to launch Ally Invest Live.

Once you’re on the Ally Invest platform, the menus feel intuitive with easy-to-navigate sub-menus. There are also some customization options, but there are some differences between web-based and mobile platforms. The main functions and features are on the web-based platform, so you may find that charting and other features don’t work as well on the app.

Unfortunately, the Ally Invest fee structure is more complicated to understand compared to Webull (but that’s partly because they offer more). While there’s no commission on stocks over $2, ETFs, and foreign exchange trading, you may encounter fees for things like mutual fund trades ($9.95) and contract options.

Ally Invest also offers a robo advisor option with a $100 minimum investment. This is an interesting feature because Webull and most other direct competitors do not offer robo advisor services.


4. Robinhood

Robinhood

Robinhood was one of the first stock trading platforms to offer commission-free trades, creating a major disruption within the brokerage industry. It has been operating since 2013, but it hasn’t been all clear sailing.

The platform’s competitive edge was somewhat neutralized when many trading platforms joined in the no commission strategy. However, Robinhood has created a niche for tech-savvy investors who appreciate an intuitive, clean design that delivers an excellent user experience.

Get a Free Stock from Robinhood! Get a Free Stock from Robinhood!
Features:
  • Commission-free trades
  • No account minimums
  • Buy fractional shares for as little as $1
  • User-friendly platform
  • Invest in cryptocurrencies like Bitcoin and Ethereum

Robinhood has seen exponential growth in recent years, but this has drawn criticism for untimely outages and international trade restrictions.

This created a suspicion of a conflict of interest and in 2021, Robinhood agreed to a settlement of $70 million for regulatory investigations related to misleading customers, approving risky strategies for ineligible traders, and repeated outages that impacted an ability to access the platform.

In fact, these issues have in part led to Webull becoming known as an excellent Robinhood alternative.

Robinhood offers commission-free trading on stocks, options, and crypto, with fractional shares available. If a stock is worth $1 or more per share and has a market capitalization of over $25 million, you can buy a fractional share.

There are also cash management services and a recurring investment feature. This low-cost strategy has helped Robinhood remain a popular go-to option for new and more experienced traders.

There are no trading or subscription fees, no wire fees, account maintenance fees, or account inactivity charges. However, if you want to trade stocks on margin, you’ll need a Robinhood Gold subscription. This does cost $5 per month but includes a $1,000 margin, charged at 2.5% interest.

So, if you want to minimize your trading costs and appreciate a streamlined interface, Robinhood may be one of the best investment apps for you.

For more details, please read Webull vs. Robinhood.


5. SoFi Invest

SoFi Invest

SoFi is short for “social finance” and it began as a company with a focus on refinancing student loans and personal loans. However, it has continued to expand its product line including checking accounts, savings accounts, and investments.

SoFi Invest is a great add-on for SoFi customers as you can easily move money between your accounts.

However, SoFi Invest does lack some of the features offered by the platforms we’ve previously discussed. But, it does offer basic investment features and tools including access to Certified Financial Planners if you have questions.

SoFi Invest has no account minimums, but you will need at least $1 to start investing. There are no fees for automated investing or active stock trading, with a 1.25% fee for crypto trades. While you can trade in stocks, ETFs and crypto, there are only market orders with no stop loss orders available.


6. Firstrade

Firstrade

Firstrade is one of the most well-established platforms, operating under a few different names since 1985. It was also one of the first online trading platforms. This is an easy-to-use platform with some interesting features that can help you to stay with the platform as you transition from a beginner to a more advanced trader.

Since one of the typical drawbacks of a low-cost trading platform is a limited service package, Firstrade really does stand apart.

There are a number of language options, making it easier for overseas traders and there is a well-rounded selection of offerings including stocks, options, mutual funds, bonds, and ETFs (no Forex trading or cryptocurrency). This allows Firstrade to be used for your entire portfolio, so you won’t need one for your short-term investments and another for long-term investments.

Firstrade has some first-rate investment tools including financial calculators to help you to determine your investment goals, streaming watch lists, Morningstar reports, and custom alerts.

However, one of the most useful is the Options Wizard. This provides instant feedback on option values and calculates the likelihood of success for specific trades. This uses innovative analytics to transform stock market data into actionable information.

Firstrade is a low-cost trade platform with minimal charges. There are no trading fees for stocks, options, ETFs, and mutual funds, no inactivity fees, no account maintenance charges, and no annual fees.

If you have an account balance of over $50,000, you can access a Firstrade Gold Account. This includes all the features of a basic investment account, with access to a dedicated representative.


7. M1 Finance

M1 Finance

M1 Finance works much differently from the other Webull alternatives. It’s billed as a “Finance Super App”, as M1 wants to be a one-stop shop for personal finance.

The platform has the aim of helping investors in borrowing, spending, and investing. M1 wants to make investing more accessible, particularly if you’re a long-term investor. (The platform is not ideal for short-term traders.)

The investment platform is based around “pies”, which are pre-built portfolios that align with a specific strategy. There are more than 80 expert-created pies with themes including socially conscious, passive investing, and hedge fund mimics. You can also create custom pies by choosing holdings from a list of individual stocks, ESGs, ETFs, and REITs.

Free Portfolio Management
M1 Finance - $10 Signup Bonus M1 Finance - $10 Signup Bonus
Features:
  • Free alternative to robo advisors
  • Automated investing
  • Easily view and manage your portfolio
  • Ideal for long-term investors
  • Commission-free trades

There’s also an auto-rebalancing tool, so you can keep your investments at a designated threshold. You can rebalance at any time, but it will also automatically reinvest any dividends.

There are two account tiers within M1 Finance, the Basic plan is free, but offers a lower level of perks compared to M1 Plus, which costs $125 per year. The specific differences depend on the M1 Finance area:

M1 Borrow

This feature is essentially a line of credit. If you have over $10,000 invested, you can qualify for up to 35% of your portfolio value. As the debt is secured using your portfolio as collateral, you can qualify for a low rate, but M1 Plus customers can access a preferential rate.

M1 Spend

This is a fairly unique feature that is becoming more common with online brokerage platforms. M1 Spend allows you to use the platform for your everyday finances. Essentially, it is a checking account with an associated debit card. You can use the account for your everyday banking including direct debits and money transfers. There are no minimum balance requirements.

M1 Plus customers can earn 1% cash back on debit card purchases and will earn interest on any cash balances in the account.

Owner’s Reward Credit Card

This is a relatively new feature on the M1 platform, but this funky metal credit card gives 1.5% cash back on purchases.

However, the difference between this card and many other reward cards is that if you own stock in a list of participating companies, you can earn up to 10% cash back when you make purchases with the brand.

There’s a list of over 70 companies that participate including Amazon, Home Depot, and Walmart. There are three reward levels, 2.5%, 5%, and 10%. You can also redeem the cashback as auto-reinvested stocks to passively help build your portfolio.

There’s a $95 annual fee for the card, but the fee is waived for M1 Plus members.

For more details, see Webull vs. M1 Finance.


8. Tornado

Tornado

Currently, Tornado is offering a bonus of up to $1,000 cash to invest when you create and fund a new account (terms and conditions listed at Tornado.com). Additionally, all Tornado users with an active account can get up to $50 to invest by completing simple Learn and Earn lessons that teach basic fundamentals of investing.

Tornado has a different approach from many online trading platforms. The platform has a focus on connecting users with others and leveraging community insights to help investors make more informed decisions. Tornado’s overall goal is to help its users to become better investors rather than simply providing a way to make trades.

Like Public.com, Tornado has many social features. You can connect with friends, other investors, and industry experts to discuss what others are buying and selling, and understand strategies. You can even have your questions answered directly by experienced investors.

Tornado also has a unique facility to optimize your investment portfolio. The Optimizer tool was developed with Nobel prize-winning research and allows Tornado to be used as an alternative to robo advisors.

Upon opening the account, you’ll need to answer several questions. This helps Tornado establish your risk tolerance, investment strategies, and financial goals. You can also create ideas and Tornado will generate investment allocations. You can implement all of the allocations with one click or go through them line by line to dismiss or approve each one.

You can buy and sell stocks, ETFs and ADRs listed on major US exchanges including the NYSE, Nasdaq, and Amex.

The most significant difference between Tornado and the other Webull alternatives is the monthly subscription fee of $7.99, which includes 50 free trades per month. After the first 50 trades, the fee is $4.50 each. 

Tornado’s monthly subscription fee of $7.99 includes access to their financial education program, Learn and Earn. Members can earn cash to invest after completing a series of investing lessons. Investors seeking to grow their skills and knowledge may find that Learn and Earn is worth the subscription fee in the long run.

As well, features like the Portfolio Optimizer may justify the subscription fee for some users, but those with smaller balances may find the flat monthly fee to be too high.

For more details, see Webull vs. Tornado.


Summary of Webull Alternatives

Webull is a reputable and solid investing app that has some excellent features, but as we’ve demonstrated, there are some great Webull alternatives if the platform doesn’t appeal to you. Which alternative is best for you will depend on your preferences, requirements, and investing style.

Best for Social Community: Public.com

With its forums, chat functionality, and ability to follow other users, Public.com provides a community aspect that’s great for those who want to connect with others while building their investing confidence.

Best for Active Traders: Moomoo

With a wealth of tools, news, and data, Moomoo is an excellent choice for technical traders and others with an analytical approach. With commission-free trades plus access to stocks, ETFs, options, and ADRs, Moomoo is a solid choice for options trading or active, high-volume traders.

Best for Automation: M1 Finance

M1 Finance is an ideal choice for long-term investors who want to take advantage of automation. While it’s not ideal for active traders who move in and out of positions quickly, M1 Finance has a lot to offer for those who want to develop a long-term investing plan.

Best All in One: M1 Finance

If you want to have your investing and everyday finances within one platform, M1 Finance is a great fit. You can earn cash back on your debit card transactions, qualify for free stocks and enjoy smart transfers with modest fees.

Best For Broker Advice: SoFi

SoFi offers investment customers complimentary access to Certified Financial Planners. This would incur a fee for a retail investor with most other investment platforms.

Best for Low Fees: Robinhood

Robinhood was one of the first free trade platforms and it maintains its reputation for low fees. Most investors will be able to trade without incurring any fees whatsoever.

Best for Tools: Firstrade

Firstrade has an impressive selection of trading tools that will satisfy investors of all skill levels. Whether you’re a newbie and need basic help or want to delve into a more in-depth analysis, Firstrade is sure to have the appropriate tool or feature.

Final Thoughts on Webull Alternatives

We’ve looked at the best mobile-first trading platforms, but of course, you could also use more traditional brokerages like TD Ameritrade or Fidelity.

Since each platform has a particular specialty, it’s well worth considering what you’re looking for in an investment platform. However, since most are free to join with minimal fees, if you’re unsure, consider trying out more than one to get the feel of the platform and discover which of these Webull alternatives is the best fit for you.

Webull is currently offering new users up to 12 free stocks for trying the platform. You’ll get two free stocks (each worth $3 – $300) for signing up. Deposit any amount to get 4-10 more free stocks worth $7-$3,000 each. Sign up for Webull through this link to be eligible for the bonus.

*Public.com offer valid for U.S. residents 18+ and subject to account approval. This is not a recommendation. You can lose money with any investment. Open To The Public Investing is a member of FINRA & SIPC. Regulatory and firm fees apply. New customers receive free stock with value $3-300; 0.3% receive the max value. Cryptocurrency trading provided by Apex Crypto LLC (NMLS ID 1828849). Apex Crypto is licensed to engage in virtual currency business activity by the New York State Department of Financial Services. See Public.com/disclosures/



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