Comparison of Webull vs TradeStation [ 2024 ]

The best brokers to invest in cryptocurrencies compared by their commissions, cryptos, security and much more. Here is theWebull vs TradeStation comparison!

Your expert: Alejandro Borja

Webull

Your expert: Xavier Tarrasó

TradeStation

Main points

Fees

Low 4,8/5

Regulated

SEC, FINRA

Demo account

Yes

Low 4,2/5

Fees

FINRA, SEC

Regulated

Yes

Demo account

Recommended for

Beginners

Yes

Trading

Yes

Passive income

Buy and hold

Yes

Beginners

Yes

Trading

Passive income

Buy and hold

Comparison of fees

Rating

3.6 – Webull charges a spread of 1% on crypto trades, which is relatively high compared to some other brokers. However, the platform offers commission-free trading and a user-friendly experience .

3.9 – TradeStation charges competitive volume-based fees starting at $2 + 0.65% for small trades. The complex fee structure and $10 monthly inactivity fee are notable drawbacks .

Level

Low 4,8/5

Low 4,2/5

Brief explanation

Webull offers commission-free trading on its platform, making it an attractive option for cost-conscious investors. However, it charges a 1% spread on cryptocurrency trades, which is effectively the platform’s fee. This spread is relatively high compared to some other platforms, but it ensures that users do not face additional explicit trading fees. Webull does not charge for deposits and withdrawals made via ACH transfers, although wire transfers incur fees of $8 for deposits and $25 for withdrawals. Overall, Webull’s fee structure is straightforward and competitive for a platform offering commission-free trading .

TradeStation charges competitive fees for cryptocurrency trading, though there are some costs to be aware of. Trading commissions are based on a tiered structure, starting at 0.30% per trade for monthly volumes up to $100,000 and decreasing to 0.20% for volumes above $1 million. This makes TradeStation suitable for both small and large traders. Additionally, there is a spread markup, which is the difference between the bid and ask prices, typically ranging from 0.5% to 1%. The platform also charges an inactivity fee of $50 if there is no trading activity for 12 months, and wire transfer withdrawal fees are $25 for US clients and $35 for international clients. These fees can add up, especially for infrequent traders. Despite these costs, TradeStation’s comprehensive tools and security measures can justify the expenses for those who prioritize advanced trading capabilities and regulatory compliance.

Webull

Year Founded: Established in 2017, Webull has rapidly gained a solid reputation in the financial market, reflecting its stability and reliability in the industry.
Number of Users: Webull boasts millions of users globally, demonstrating widespread trust and adoption among retail investors and traders.
Security Methods: Webull employs robust security measures, including two-factor authentication (2FA) and encryption protocols, ensuring the safety and protection of users' funds and personal information.
Regulation: Webull is regulated by top-tier financial authorities, including the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA) in the United States, providing an extra layer of security and trust.
Customer Service: Webull offers responsive customer service through various channels, including email, phone, and live chat, ensuring users can get assistance when needed.

TradeStation

Year Founded: Established in 1982, TradeStation has a long track record of stability and innovation in the brokerage industry.
Security Methods: TradeStation employs robust security measures, including two-factor authentication and encryption, to protect user data and assets.
Regulation and Licensing: TradeStation is regulated by top-tier US authorities such as the SEC and FINRA, ensuring compliance with strict financial standards.
Reputation and Reviews: TradeStation has consistently received positive reviews from users and industry experts for its advanced trading tools and comprehensive platform.
Transparency: As a subsidiary of Monex Group, a publicly listed company, TradeStation maintains a high level of transparency by regularly publishing financial statements and complying with rigorous disclosure requirements.

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Account Minimum

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Direct link to the website

Product selection

Native token

Webull does not have a native token.

TradeStation does not have a native token.

Earns

Webull does not offer staking or other earning options for cryptocurrencies. It focuses on trading a limited number of digital assets .

TradeStation does not provide staking or earning options with cryptocurrencies. The platform allows direct trading of certain cryptocurrencies .

NFT marketplace

Webull does not have an NFT marketplace.

TradeStation does not have an NFT marketplace.

Cripto/debit card

Webull does not offer a card for its clients .

TradeStation does not have a card for its clients .

Payment methods

Transfers

Yes, Webull accepts bank transfers for both deposits and withdrawals .

Yes, TradeStation accepts bank transfers for both deposits and withdrawals .

Mastercard

No, Webull does not accept Mastercard for deposits.

No, TradeStation does not accept Mastercard for deposits.

Wire transfer

Wise is not mentioned as a supported payment method .

Card

Information about Webull’s acceptance of credit/debit cards is not explicitly stated in the retrieved documents.

No, TradeStation does not accept credit/debit cards .

Comparative table

Webull	Features	TradeStation
Webull has a low minimum trade requirement, making it accessible for all users, particularly beginners.	Minimum Trade	TradeStation allows for low minimum trades, making it accessible for beginners.
While Webull offers commission-free trading, the 1% spread on crypto trades is relatively high compared to other platforms.	Trading and Transaction Fees	Fees are higher than some competitors, especially for withdrawals.
Webull supports 11 different cryptocurrencies, providing a decent variety for users to choose from.	Number of Cryptocurrencies	Only offers Bitcoin, Ethereum, and USD Coin.
The platform does not support trading cryptocurrencies directly against each other, limiting trading strategies.	Crypto-to-Crypto Trading Pairs	Limited to major coins, restricting diversification opportunities.
The website provides clear and detailed information on fees and trading conditions, but the user experience and navigation could be improved.	Website Transparency	TradeStation provides clear and detailed information about its services and fees.
Webull does not offer a card for its clients .	Credit/Debit Card	TradeStation does not have a card for its clients .
Webull does not offer wallet services or the ability to transfer crypto assets off the platform, limiting control over assets.	Storage Offering	Utilizes secure storage solutions with BitGo for crypto assets.
There are no staking or rewards programs available for crypto holders on Webull.	Staking and Rewards	No staking or rewards programs available.
Webull’s mobile app and desktop platform are excellent, featuring advanced charting tools and a user-friendly interface.	Mobile App and Desktop	Both platforms are user-friendly and feature-rich, but the mobile app has fewer features.
Customer service is available through various channels, but phone support is lacking, and response times can be slow.	Customer Service	Customer service is decent but has room for improvement in response times and support quality.
The process is easy, but limited to bank transfers, which can be slower and less convenient compared to other methods like credit/debit cards.	Deposit and Withdraw	Limited methods and high fees for withdrawals, making it less user-friendly.

Key features

Analysis tools

Webull provides advanced charting and screener tools, dozens of technical indicators, and in-depth charting features. They also offer educational resources and a mobile-first trading experience .

TradeStation provides a powerful desktop trading platform with customizable sophisticated analysis tools, custom charts, and a detailed order book for crypto trading. They also offer mobile app trading with improved charting capabilities .

Mobile APP

Yes, Webull offers a highly rated mobile app that supports advanced features like charts, indicators, and paper trading .

Yes, TradeStation offers a mobile app that includes advanced charting, trading, and analysis tools .

Security

Webull is regulated by the SEC and FINRA in the US, providing high investor protection levels. They offer SIPC insurance up to $500,000, including a $250,000 cash limit. However, they do not provide negative balance protection.

TradeStation is regulated by the SEC and FINRA, providing high investor protection levels. They offer SIPC insurance but do not provide negative balance protection. Their parent company is publicly listed, enhancing transparency.

Additional features

Webull offers cryptocurrency trading through their Webull Pay app, which supports eight cryptocurrencies like Bitcoin, Ethereum, and Litecoin. The platform features a highly rated mobile app with advanced tools like charts and indicators. Webull provides competitive commissions and allows for fractional share trading, but lacks crypto-crypto trading pairs and wallet compatibility .

TradeStation offers direct cryptocurrency trading for a limited selection of coins, including Bitcoin, Ethereum, and USD Coin. Their platform includes advanced features like strategy development and technical analysis through the TradeStation Master Class. They also support crypto trading in IRAs and provide competitive volume-based fees. However, their crypto offerings have decreased in recent years .

Anonymity

Webull does not support anonymous accounts. Users must submit personal information and verification documents during the account opening process .

Anonymous accounts are not supported on TradeStation. Personal and financial information along with verification documents are required.

Key points

Available cryptocurrencies

Webull offers trading in cryptocurrencies but does not allow transfer of crypto assets on or off the platform. The available cryptocurrencies include Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Ethereum Classic (ETC), Litecoin (LTC), Dogecoin (DOGE), and others totaling 11 different cryptocurrencies.

TradeStation offers trading in a few cryptocurrencies. The supported cryptocurrencies include Bitcoin (BTC), Ethereum (ETH), and USD Coin (USDC) .

User-friendliness

Webull offers a streamlined and user-friendly mobile app for trading cryptocurrencies. The platform’s advanced charting tools and community features enhance the user experience. However, Webull’s focus on simplicity means it may lack some advanced features found in other platforms. Overall, it’s a solid choice for those looking for an easy and accessible way to trade crypto .

TradeStation provides a powerful and intuitive platform for trading cryptocurrencies. The platform is designed to cater to both novice and experienced traders, with a range of tools and features that enhance the trading experience. While the selection of cryptocurrencies is limited, the platform’s overall usability and support make it a solid choice for crypto trading.

Value for money

Webull provides great value for money with commission-free trading and advanced tools suitable for active traders. However, the inability to transfer cryptocurrencies off the platform could be a limitation for some users.

TradeStation offers good value with competitive volume-based fees and a range of trading tools. Its inactivity fee of $10 per month and the administrative fee for IRAs might be less attractive for occasional traders.

Countries of operation

United States, India, China, South Korea, most countries that permit crypto trading .

United States, available to most other countries except restricted regions like North Korea and Sudan .

Best for

Webull is ideal for active traders who want a commission-free platform with advanced charting tools and a wide selection of tradable assets. It’s best for those who don’t need to transfer cryptocurrencies off the platform and value a seamless mobile experience.

TradeStation is suited for experienced traders who value advanced trading tools and direct access to crypto trading. Its detailed order book and professional-grade platform make it ideal for those who want to trade and analyze cryptocurrencies deeply.

Account

Trading

Webull allows direct cryptocurrency trading with a user-friendly interface and zero commissions. It offers a decent range of cryptocurrencies, making it a good choice for retail traders.

TradeStation offers a limited selection of cryptocurrencies but provides a powerful trading platform with advanced tools and features. It is suitable for traders who want to integrate crypto trading with other financial products.

Deposit and withdrawal

Webull allows deposits and withdrawals via ACH and wire transfers. The process is free and generally quick, but wire transfers can be more expensive compared to ACH transfers.

TradeStation supports deposits and withdrawals primarily via bank transfers. While the process is secure, it can be slower and more expensive compared to other brokers, with fees for wire transfers.

Account opening process

Opening an account with Webull is straightforward and fully digital. Users complete an online application, provide personal and financial information, and verify their identity. Accounts are typically approved within one to two business days.

Opening an account with TradeStation is fully digital and user-friendly. Users need to provide personal and financial information and submit verification documents. The process usually takes one to two business days for approval.

KYC required?

KYC verification is mandatory at Webull. Users must provide personal identification documents and proof of address as part of the account registration process.

TradeStation requires KYC verification. Users need to provide personal identification documents and proof of address before they can start trading.

Customer Service

Webull offers customer support through email and in-app messaging. They also provide phone support during market hours. The support is generally responsive, though some users find the service to be slower during peak times.

TradeStation provides customer support via phone, email, and live chat. The support is available during market hours and is generally responsive, though some users find the service to be slower during peak times.

Security

Which of these exchanges is for you?

Alejandro Borja

As an expert on our website, I recommend Webull for those interested in cryptocurrency trading due to its commission-free model and advanced trading tools. The platform’s user-friendly interface and excellent mobile app make it suitable for both beginners and experienced traders. However, keep in mind that Webull does not allow crypto transfers off-platform, which might be a limitation for some users. Overall, Webull is a solid choice for cost-effective and convenient crypto trading.

Xavier Tarrasó

As an expert in the crypto market, I find TradeStation to be a solid platform for those who prioritize security and advanced trading tools. While its cryptocurrency offerings are limited to Bitcoin, Ethereum, and USD Coin, the platform excels in providing a highly regulated environment and robust trading features. TradeStation’s user-friendly interface and comprehensive educational resources make it a suitable choice for both seasoned traders and those looking to gain deeper insights into crypto trading. However, the high withdrawal fees and limited deposit options are areas that could be improved to enhance the overall user experience.

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How do we review crypto exchanges?

At Threenvest, we conduct a thorough review process to evaluate and rank the world’s leading crypto exchanges. Our goal is to offer an unbiased assessment, providing you with the information you need to make informed decisions on which ones best suit your needs. We strictly adhere to the guidelines of our editorial policy.

We collect data directly from exchanges through detailed questionnaires and conduct first-hand testing and observations during crypto exchange demonstrations. Questionnaire responses, combined with demonstrations and hands-on research from our experts, feed into our proprietary evaluation process that scores each provider’s performance on more than 15 factors. The end result produces star ratings ranging from poor (one star) to excellent (five stars).

For more details on the categories considered when rating brokers and our process, read our full methodology.

Risk Disclaimer

Investing in cryptocurrencies is very risky, you should only invest the money you are willing to lose. Also you should not expect to be protected if something goes wrong.

Neither Threenvest, nor the author, are recommending you to invest with this article.

Comparison of Webull vs TradeStation [ 2024 ]

Webull

TradeStation

Main points

Recommended for

Comparison of fees

Rating

Level

Brief explanation

Webull

TradeStation

Product selection

Native token

Earns

NFT marketplace

Cripto/debit card

Company information

Full name

Regulation

Year founded

Founder

Payment methods

Transfers

Mastercard

Wire transfer

Card

Comparative table

Key features

Analysis tools

Mobile APP

Security

Additional features

Anonymity

Key points

Available cryptocurrencies

User-friendliness

Value for money

Countries of operation

Best for

Account

Trading

Deposit and withdrawal

Account opening process

KYC required?

Customer Service

Security

Which of these exchanges is for you?

How do we review crypto exchanges?

Risk Disclaimer

More comparatives Webull and TradeStation