Robinhood vs. Webull vs. Fidelity

Robinhood, Webull and Fidelity are three popular brokerages, each with its own standout features. While all three offer solid trading platforms, they tend to appeal to different investors because they vary quite a bit in the investments they offer. There are also differences in the other services they offer, such as banking features and educational materials. When comparing Robinhood vs. Webull vs. Fidelity, we examine critical factors like user experience, product offerings and cost so you can make an informed decision.

Consider consulting a financial advisor to determine how to structure your portfolio to maximize the returns on your investments.

Overview of Robinhood, Webull and Fidelity

Robinhood, Webull and Fidelity stand as three of the best trading and investment platforms, but each targets a different type of clientele with its products and services.

Robinhood is a trading and investment platform established in 2013. It highly prioritizes its mobile trading experience, offering investors a seamless way to trade stocks, ETFs and cryptocurrency, as well as other types of investments. It does not offer much in the way of educational materials, and mutual funds are not available, but it still works well for executing basic trades.

Webull is the newest of the three investment platforms, having joined the scene in 2017. Compared to Fidelity and Robinhood, it is something of an in-between. It lacks the full suite of services you can find at Fidelity, but it has more robust research and charting tools than Robinhood.

Founded in 1946, Fidelity is the oldest and most well-established of the three. With a full suite of services, it is one of the largest investment managers in the world, serving millions of customers and managing trillions in assets under administration.

Robinhood vs. Webull vs. Fidelity: Fees

Robinhood skips many of the fees commonly seen with even the best brokerage accounts. This includes no commission, trading fees or inactivity fees. It’s free to deposit and withdraw funds, and you are also free to move assets around within your account.

Fees only apply if you choose to trade on margin, which carries an interest rate ranging from 4.7% and 5.75%. Robinhood’s main fee is for its Robinhood Gold, a premium subscription costing $5 per month. With this, investors receive benefits like the first $1,000 of margin free, 4% APY on uninvested brokerage cash and access to advanced research and analysis.

Webull charges no trading fees at all, nor does it charge for inactivity, deposits, withdrawals or any other standard interactions. Certain transactions may carry fees, such as access to advanced data or margin trading with interest rates that range from 4.65% to 8.74%. The firm also offers commission-free options trading, but mutual funds cannot be traded.

Fidelity generally has low fees, including no trading commissions and no account fees with plenty of free educational materials on its site. It also offers thousands of mutual funds with no transaction fees. Fidelity charges $49.95 to trade funds that are not on its no-fee list. It charges $0.65 per contract on options, plus a fee of up to $32.95 for representative-assisted trades. There is a zero expense ratio for four Fidelity funds, and the Depository Foreign Trust Company foreign settlement fee is $50 per trade.

Robinhood vs. Webull vs. Fidelity: Services and Features

A couple compare Robinhood vs. Webull vs. Fidelity.

With Robinhood, you can trade stocks and ETFs, with the option for margin trading. You can also trade fractional shares, so you can put all your money to use. Robinhood also supports cryptocurrency trading but only for those with a separate account on Robinhood Crypto. It tends to appeal to young investors who want to place a few trades without spending hours researching stocks.

Webull is a trading and investment platform with robust trading tools, both on mobile and desktop platforms. It also supports paper trading, which lets you trade without using real money. This allows you to test various investment strategies before going all-in. It also supports fractional shares, so you are not required to buy full shares. Webull works well for those who want to trade actively but want to spend more time researching stocks and trading strategies than Robinhood users. This is due to Webull’s more robust charting features and paper trading feature.

Fidelity has an extensive suite of products and services, such as brokerage accounts, IRAs, 401(k)s, 529 plans and cash management accounts. It offers help from financial advisors starting with its Fidelity Managed FidFolios service with a $25,000 minimum investment. Overall, Fidelity tends to appeal to more traditional investors, but it has taken steps to modernize its platform. It also launched cryptocurrency trading, allowing customers to trade digital currencies.

Robinhood vs. Webull vs. Fidelity: Online and Mobile

Robinhood arguably has the most enjoyable user experience of the three, which is why it is so popular with investors, particularly beginners. It has a sleek mobile app that is easy to navigate, providing basic stock charts when you want to buy stocks or ETFs, available in fractional shares. Robinhood’s desktop app is much the same as its mobile app, offering aesthetically pleasing charts and graphs. Its app earns a rating of 4.3 on the App Store and 4.2 on Google Play.

Webull has an enjoyable experience both online and on mobile, incorporating advanced trading tools with stock alerts and technical studies. It also supports advanced features, such as Level 2 quotes and index overlays. Both its desktop and mobile apps are clean and consistent, with its app earning strong ratings on both Apple and Google at 4.7 and 4.5, respectively.

Fidelity has worked hard to improve its user experience, especially with its online and mobile experience. With its Trading Dashboard, Fidelity features live market updates with advanced analysis to keep active investors up to date. Its app was updated recently to improve its trading and portfolio monitoring experience via mobile. Its app is rated 4.8 on the App Store and 4.6 on Google Play.

Robinhood vs. Webull vs. Fidelity: Supported Account Types

When choosing a brokerage, it is important to know what types of accounts each platform offers. This is vital not only to your investing strategy today but also your long-term investment plan as a whole.

When comparing Robinhood vs. Webull vs. Fidelity, there are significant differences between the accounts they offer, which can help you narrow down your options.

Robinhood: Robinhood only supports taxable brokerage accounts with retirement IRAs. It does not offer 401(k) rollovers, custodial accounts or 529 plans. This makes it best suited for short-term investors and traders who are not looking for retirement-specific vehicles.
Webull: Webull expands beyond basic brokerage accounts by offering traditional IRAs, Roth IRAs and rollover IRAs, in addition to taxable brokerage accounts. However, it does not provide 529 plans or custodial accounts, limiting its appeal for investors who want comprehensive financial planning options for the whole family.
Fidelity: Fidelity provides the broadest selection of accounts, including taxable brokerage accounts, IRAs (traditional, Roth and rollover), 401(k)s, 529 college savings plans, custodial accounts, cash management accounts and more. This full-service approach makes Fidelity a strong option for investors who want to integrate retirement planning, education savings and wealth management under one roof.

For investors focused on retirement savings or long-term wealth management, Robinhood may feel too limited, while Webull offers a middle ground. Fidelity, by contrast, offers a complete suite of accounts to support nearly every stage of financial life.

Which Platform Is Right for You?

When deciding between Robinhood vs. Webull vs. Fidelity, all three have their strengths, but the best trading platform for you will depend on your needs as an investor. Fidelity has just about every feature you could ever want, although its offerings could be overwhelming for some who just need a straightforward account. For those users, Robinhood might be a better choice, as its clean mobile and desktop interfaces make it easy to buy and sell stocks. However, its research and charting tools are limited in comparison to its competitors.

Those who want more might prefer Webull. Its educational materials are not up to par with Fidelity’s, but it offers more advanced trading tools than Robinhood. All three have their place, but your individual needs will determine which one is most suitable for you.

Bottom Line

An advisor and client discuss Robinhood vs. Webull vs. Fidelity.

When comparing Robinhood vs. Webull vs. Fidelity, all three are strong, reliable choices, but it really depends on your financial goals, both short-term and long-term. Consider asking a financial advisor how to structure your accounts so you can maximize your earnings and grow wealth over time.

Tips for Investing

It’s not always easy to know how interest rate risk will affect your portfolio. A financial advisor can help you develop an investment strategy that works for you. And finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.
Unsure how much your investments will grow over time? Try SmartAsset’s free investment calculator to estimate how much you will have in 10, 15 or 20 years. Whatever your time horizon might be, it’s important to know where you stand. If you want to see where you stand, use our free calculator.