tastytrade vs Webull

Written by
Fact checked by
Gyula L.
Updated
Apr 2023

Let’s examine how tastytrade stacks up against Webull in a number of important areas, including fees, trading platforms, trading tools, and more.

When comparing tastytrade and Webull, it’s clear that they excel in different things even though they have the same overall score. 

What are the most striking differences? tastytrade scores high when it comes to customer service, research tools and education materials. The trading platform though, especially the desktop version, is significantly better at Webull.

 

Webull beats tastytrade in fees

 

Again, there are many areas where the pair goes hand in hand, like non-trading fee (see the non-trading fees of tastytrade and Webull in their respective reviews). Non-trading fees and some trading fees (i.e. US stock and ETF commissions) are basically non-existent at both tastytrade and Webull.

However, USD margin rates are different: at tastytrade the rate is 8.0%, against Webull’s 7.0%. The difference is not as big as in the case of Robinhood (which has a 2.5% annual USD margin rate ), but it’s definitely visible.

tastytrade vs Webull
  tastytrade Webull
Overall score 4.6 4.6
Overall pros
  • Low trading fees

  • Great educational materials

  • Good research tools

  • Free stock, ETF and options trades

  • Fast and easy account opening

  • Great trading platforms

Overall cons
  • Limited product selection

  • Few deposit and withdrawal options

  • No demo account

  • Limited product portfolio

  • Only bank transfer for deposit/withdrawal

  • No live chat and poor phone support

Fees score

4.3 stars

  • No inactivity fee

  • Free stock trading

  •  Low options fees

  • High margin rates for stock trading

  • Withdrawal fee for bank (wire) transfers

4.8 stars

  • No commission (for stocks, ETFs, options)

  •  ACH transfers are free for funding & payout

  • High wire transfer costs

Account opening score

5.0 stars

  • Fast

  • Fully digital

  • No minimum deposit

5.0 stars

  • Fast

  • Fully digital

  • No minimum deposit

  • Mostly for US residents

Safety
  • Majority of clients belong to a top-tier financial authority

  • High level of investor protection

  • Financial information is publicly available

  • Does not hold a banking license

  • Not listed on stock exchange

  • Majority of clients belong to a top-tier financial authority

  • High level of investor protection

  • No negative balance protection

  • Does not hold a banking license

  • Not listed on stock exchange

Visit tastytrade

-> Back to tastytrade review for 2022

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Author of this article

Dan Sallai

Brokerage Bard | Investment • Brokerage • Digital Business

I'm dedicated to ensuring our valuable content reaches people when they need it most. I leverage my extensive 10+ years of online marketing expertise in tandem with our team's financial acumen to achieve this goal daily. During my leisure time, I find enjoyment in bowling, playing tennis, and cherishing moments with my children.

Everything you find on BrokerChooser is based on reliable data and unbiased information. We combine our 10+ years finance experience with readers feedback. Read more about our methodology.

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