I use both Robinhood and Webull. They are both commission-free platforms for stock trading. I have been using Robinhood for over 3 years now. I got Webull recently. I prefer Robinhood over Webull.
Why Robinhood Is Better Than Webull? With Robinhood Gold, I get access to the research report from morningstar for most US companies, I get to read what people are saying in SeekingAlpha. I find Webull clutters, too many features that I do not use. Although when you get Robinhood Gold, you pay $5 every month, that is $60 for a year, you get access to $1000 to invest, put that money in a stock that gives you more than 6% dividend yield, and you will recover the $60 fee you pay for Robinhood gold.
How to get Robinhood gold for Free?
So, your Robinhood Gold is basically free. But remember, that $1000 is not for you to keep. It is essentially an interest-free loan. If you give up the Robinhood membership, you will have to return the $100. But if you want to get a free Robinhood Gold membership, simply buy stocks like IRM or Iron Mountain or BP PLC, these are yielding over 6% currently and these have a stable dividend, your Robinhood gold will become actually free and You will make a $5 – $10 profit.
The Morningstar Research report is great for us noobs
IF you want to know about a company, the general recommendation is to read the K-10 or the annual report, preferably the last 10 years’ annual report, to see how the company and the management did for the last 10 years. And if you do not have time to go through the annual reports, then these Morningstar research reports would be great for you.
You will get these reports for most of the US stocks. It tells you the quality of management, moat of the business, the fair value of the stock and analyst report to support what they say. That is a great value for the price we pay for the service.
The Analyst Ratings and the Seeking Alpha articles
Most Stocks have Buy/Sell/Hold recommendations for analysts, which is a pretty cool feature. And the reasons to buy and reasons to sell article shows up from seekingalpha, I find those really informative.
The 4th reason –
I can sell a put to pick up shares, which reduces my average cost. In Webull I cannot do that. In case you have not checked the app yet, you can sign up for Robinhood today, we will both get a free share, which is cool.
The cons of Robinhood –
- The dividend yield is wrong
- You cannot see data like return on equity or debt to equity
- There is an upper limit to how much money you can transfer on a day.
- There are limitations on day trading too. although I do not buy or sell on the same day.
- Since I am not a trader, I do not care about their crappy chart
- The website sucks, you cannot scroll through stock and watchlist without using a mouse.
- Make money by selling our data, but who cares?
WeBull has big problems –
- With so many features and tabs, the app appears to be clunky and I do not find it very easy to navigate around.
- There is no extra margin that you can use
- There is no morningstar or analyst report or seeking alpha articles
- I just hate their navigations
What I like About Webull
- The watchlist is really cool
- The charts are better than Robinhood
- You get to see the financial ratios and stats for any company
I have been using both platforms, but as you can say I prefer Robinhood over WeBull. But if you have not checked out Webull yet, you should download the app, you will get one stock for signing up and after you deposit $100, you will get another stock. And the best part is trading stocks is free. In Robinhood buying and selling options are free. I am yet to get one tax document from WeBull but every year around mid-February Robinhood sends out the tax document.
If you have any questions or if you think I missed something please mention that in the comment box below.