eToro Vs Webull 2024 [Brokerage Services Comparison]

Welcome to the conclusive comparison of eToro and Webull, two of the most popular online investment platforms. In the ever-changing world of investing, selecting a platform that provides the features and tools you need to make educated decisions and maximize profits is essential.

In this blog post, we will examine the similarities and differences between eToro and Webull so that you can decide which platform best suits your 2024 investment objectives. Whether you are an experienced investor or a novice, we have you covered. So, let's take a closer look at eToro vs Webull and help you invest and trade smarter!

About eToro

eToro is a social trading and multi-asset brokerage platform that lets users trade stocks, cryptocurrencies, commodities, and other financial instruments. The company was started in 2007, and its main office is in Tel Aviv, Israel. It also has offices in Cyprus, the United Kingdom, the United States, and Australia.

One thing that makes eToro stand out is its social trading feature that lets users follow and copy the trades of other successful traders on the platform. Because of this, eToro is popular with new traders who may not have much trading experience or knowledge.

eToro is also known for its easy-to-use interface and mobile app, making it possible to trade anywhere at any time. The platform is regulated by several financial agencies, such as the Financial Conduct Authority (FCA) in the UK and the Australian Securities and Investments Commission (ASIC).

About Webull

Webull is a no-commission online trading platform for stocks, options, ETFs, and cryptocurrencies. The company was established in 2016 and has offices in New York and China.

One of Webull's distinguishing features is its advanced trading platform, which includes real-time market data, customizable charts, technical indicators, and trading tools. This platform is especially appealing to active traders looking for a reliable trading platform.

Webull also provides a mobile application compatible with iOS and Android devices. Users can use the application from any location to trade, monitor their portfolio, and access real-time market data.

Webull offers educational resources, such as webinars, trading courses, and a community forum where users can pose questions and share their insights with other traders, in addition to its trading platform.

Webull is a popular online brokerage platform for active traders looking for a reliable platform with advanced features and real-time market data. Furthermore, its commission-free trading model and educational resources make it a popular choice among new traders.

eToro Vs Webull In Terms Of Fees

When it comes to fees, eToro and Webull are both excellent options. Both platforms have no commission for stocks, ETFs, and options trades, but there are some differences regarding other assets.

eToro charges a 1% fee to buy/sell cryptocurrencies, while Webull has a 1% markup built into the price and competitive margin fees from 9.49%-5.49%. Therefore, depending on the type of asset you plan to invest in, one platform may be more suitable. Here are other fees associated with eToro and Webull.

• Option for no base commission for stocks and ETFs: eToro and Webull offer no base commission on stocks and ETFs trading.
• Option for no base commission for trading penny stocks: Both eToro and Webull offer no base commission for trading penny stocks.
• The number of no-load mutual funds without transaction fees: For both eToro and Weibull, the number of no-load mutual funds with no transaction fees is N/A.
• Transaction fee on no-load mutual funds with transaction fees: For both eToro and Weibull, the transaction fee on no-load mutual funds with transaction fees is N/A.
• Recurring investment fees: Webull has no recurring investment fees, whereas eToro does.
• Base commission for options: Neither eToro nor Webull charges an options trading commission.
• Cost per stock trade: eToro and Webull both charge $0.00 per stock trade.
• Cost per options contract: eToro and Webull charge $0.00 for each option contract.
• Cost per futures contract: For both eToro and Weibull, the cost per futures contract is N/A.
• Broker-assisted trade fee: eToro and Webull do not charge a fee for broker-assisted trades.
• Volume-based options discounts (upon meeting a threshold): N/A for both eToro and Webull.
• Options price cap (upon meeting a threshold): N/A for both eToro and Webull.
• Inactivity fees: Webull does not charge inactivity fees, whereas eToro does.
• Account closure fees: Webull charges account closure fees, whereas eToro does not.

Overall, eToro and Webull both provide commission-free trading for stocks, ETFs, and options, and neither platform charges a base commission for trading penny stocks. eToro, on the other hand, charges inactivity fees while Webull does not, and Webull charges account closure fees while eToro does not.

eToro Vs Webull In Terms Of Customer Support

Both eToro and Webull provide excellent customer support. Here is the list:

• Phone Support (Prospective Customers): Unlike Webull, eToro provides phone support to prospective customers.
• Phone Support (Existing Customers): EToro and Webull provide phone support to existing customers.
• Email Support: eToro and Webull both provide email support.
• Live Chat (Prospective Customers): Unlike eToro, Webull provides live chat support for prospective customers.
• Current Customers: Webull provides live chat support for current customers, whereas eToro does not.
• 24/7 Support: Webull does not provide 24/7 support, whereas eToro does.

eToro Vs Webull In Terms Of Investment Option

eToro and Webull offer a wide range of investment options. We have made a list of some available investment options on both platforms:

• Stock Trading: Both eToro and Webull offer stock trading.
• Margin Trading: Only Webull offers margin trading.
• Fractional Shares: Both eToro and Webull offer fractional shares.
• OTC Stocks: Only Webull offers OTC (over-the-counter) stocks.
• Options Trading: Both eToro and Webull offer options trading.
• Forex Trading: Neither eToro nor Webull offers forex trading.
• Crypto Trading: Both eToro and Webull offer crypto trading.
• Crypto Trading: Total Coins: Webull offers a more extensive selection of cryptocurrencies, with 44 total coins available for trading compared to eToro's 26.

eToro Vs Webull In Terms Of Order Types

Regarding trading, two of the most popular platforms are eToro and Webull. Both offer various features and order types to help traders achieve their financial goals. However, the two have some significant differences when looking at order types.

Order types available on the website:

• eToro: Stop limit order, OTO, OCO, OTT, Other conditional orders, Trailing stop
• Webull: Stop limit order, OTO, OCO, Trailing stop

Order types available on desktop software:

• eToro: N/A
• Webull: Stop limit order, OTO, OCO, Trailing stop

Order types available on the mobile app:

• eToro: Stop limit order, OTO, OCO, OTT, Other conditional orders, Trailing stop
• Webull: Stop limit order, OTO, OCO, Trailing stop

Webull now provides more order types than eToro, including sophisticated order types such as OCO and OTOCO. Yet, both platforms provide fundamental order types, including market, limit, and trailing stop loss orders. It is vital to remember that other, larger providers may provide a wider variety of order types.

eToro Vs Webull In Terms Of Minimum Deposits

eToro requires a minimum deposit of $10, while Webull requires zero investment. While the lack of an initial deposit with Webull may make it more attractive, it pays to understand the potential drawbacks before deciding which services to use.

eToro Vs Webull In Terms Of Deposit Methods

When it comes to depositing methods, both eToro and Webull offer a variety of options to choose from.

eToro allows users to deposit funds through credit/debit cards, online banking, wire transfer, and other online payment solutions. The availability of deposit methods may vary depending on the user's location and currency. It's important to note that some deposit methods may come with fees, such as credit/debit cards and PayPal.

On the other hand, Webull offers deposit methods for US bank account holders only. Users can transfer funds using ACH or wire transfer. ACH transfers are free, while wire transfers usually come with fees.

eToro Vs Webull In Terms Of Security

Both eToro and Webull prioritize security and take precautions to safeguard their users' finances and personal information.

Several financial agencies, including the FCA, CySec, FinCen, and ASIC, regulate eToro. This means that eToro must adhere to stringent security and transparency laws. User cash is stored in safe Tier 1 banks, and personal information is encrypted with SSL. Moreover, eToro does not share or sell user information.

Webull is governed by the SEC and FINRA, and it is a member of the SIPC, which provides coverage for investments and protection for deposited monies. And Webull Finance LLC is listed on NASDAQ and NYSE.

These affiliations and memberships demonstrate that Webull conforms to stringent security and transparency legislation and standards.

Ultimately, both eToro and Webull prioritize security and take precautions to safeguard their users' assets and personal information. Consumers may rely on the security of their assets and data on these sites.

eToro Vs Webull In Terms Of Mobile App

Regarding mobile trading, both eToro and Webull offer great options.

eToro is known for its suite of social features. It provides a platform where investors can interact and access prominent investor profiles. This makes it great for novice traders who want to learn from the best and find guidance in their investments.

But advanced traders looking for specific features will be more interested in Webull 8.0. The app equips traders with customizable charting, trading options, financial reporting, and over 50 technical indicators. In addition, it specializes in research and trading activities for stocks, ETFs, and other assets.

Thus, when it comes down to eToro vs Webull for mobile apps, the choice depends on individual needs - whether you’re an inexperienced trader looking to crowdsource insights or a seasoned pro who wants access to advanced tools for stock analysis.

Nonetheless, no matter your preference or level of proficiency, remember that all investments come with some risk - especially when beginning traders take part in online investments like CFDs (Contracts For Difference), Forex Trading, or cryptocurrency trades, as these markets are unpredictable due to their volatility.

eToro Vs Webull In Terms Of Desktop Experience

When seeking the ideal desktop trading experience, eToro and Webull are both stellar choices.eToro's main feature lets investors trade in ETFs, stocks, and cryptocurrencies. It also has unique features, such as CopyTrade and Popular Investor Program, enabling users to replicate financial strategies from more experienced investors.

Also, you can make your watchlists with volatility alerts and sync them across platforms. But shorting is not allowed on eToro when markets are falling, which makes it harder for traders to change their strategies when markets are falling.

Regarding technical analysis tools, Webull 8.0 is much more customizable than eToro regarding desktop experiences. It has 20 more technical indicators than eToro, which only has 10, as well as more market news and more advanced, customizable charts for trading stocks, ETFs, options, and cryptocurrencies.

It also has a research feature that can be used to test probabilities. This gives investors a better view of market trends and financial data points across multiple asset classes.

Pros And Cons Of eToro

It is important to note that the pros and cons of eToro may vary depending on the experience and needs of the individual user. Based on the general feedback from users and industry experts, some additional pros and cons of eToro are:

Pros:

• Beginners can use eToro's user-friendly interface to invest.
• CopyTrader lets novice traders copy the trades of successful investors.
• eToro offers stocks, ETFs, cryptocurrencies, and more.
• eToro's social trading community lets investors share ideas and trading strategies.
• Regulated eToro protects user funds.

Cons:

• Some users dislike eToro's withdrawal and inactivity fees.
• Experienced traders may find eToro's research and analysis tools lacking.
• eToro's customer support is not 24/7, and some users have reported slow response times.
• Beginners may find eToro's educational resources lacking.
• For users in unsupported countries, eToro may be a drawback.

Pros And Cons Of Webull

Like eToro, Webull also has its own pros and cons for potential users to consider. These include:

Pros:

• The platform is easy to use for beginners and experts.
• Webull lets investors diversify their portfolios with a wide range of cryptocurrencies.
• Webull is cost-effective for traders and investors.
• Webull helps traders and investors make informed decisions with real-time market data, configurable charting tools, and stock screeners.

Cons:

• Webull has educational articles and videos but less support than other platforms.
• Webull does not offer mutual funds for diversification.

How To Open An Account In eToro?

Opening an eToro account is done in these simple steps:

• Look for the "Join Now" or "Trade Now" button on eToro's website at www.eToro.com.
• If you click the button, you will be redirected to an online form in which you will be required to enter your personal information.
• Fill out the form with all of the requested information. You can also sign in via Facebook and Gmail.
• Before submitting your information, review eToro's Terms & Conditions and privacy policy to ensure you understand and agree to their terms.
• Please indicate your agreement with the terms by checking the appropriate box after reviewing and accepting them.
• By clicking the "sign up" button, your information will be submitted.

How To Open An Account In Webull?

If you are interested in opening an account with Webull, please follow the steps below:

• Visit the Webull website and click "Open an Account" or "Sign Up" to create an account.
• Include your full name, address, phone number, and social security number on the online form.
• Accept the terms and conditions of Webull to continue with the account application.
• Please submit an application for consideration. Within an hour, approval is typically granted and confirmed via email.
• After your Webull account has been approved, you can deposit funds and begin trading on the platform.

FAQs

Conclusion

Webull and eToro are two popular trading platforms that offer users the ability to trade stocks, ETFs, and other assets. Webull is best suited for those who want a platform with low fees, useful stock screening tools, and real-time market data.

Meanwhile, eToro stands out for its social features, allowing traders to copy the trades of other users, as well as its wide range of assets. Ultimately, it is important to consider a variety of factors when choosing a trading platform and research the pros and cons of each option before making a decision.  ​ ​​​​