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Tradestation vs Webull 2023: Features & Fees
Luis Clark
- Headquarter: Plantation Florida, the United States
- Year Founded: 2019
- No. of Cryptos: 10+
- Fiats Available: USD
- Fees: Up to 0.60%
- NFTs Available: No
- Native Token: No
- Beginner Friendly: Yes
- Platform App: Desktop/Mobile
- Security Features: Account and trade monitoring, customer alert, customer privacy policy, encrypted communication, Tradestation's software advanced firewall
- Headquarter: New York, the United States
- Year Founded: 2017
- No. of Cryptos: 44+
- Fiats Available: USD
- Fees: 1%
- NFTs Available: No
- Native Coin: No
- Beginner Friendly: No
- Platform App: Desktop/Mobile/Web
- Security Features: Firewall, two-factor authentication, 128-bit encryption, SIPC insurance, and more
This Tradestation vs Webull article compares these 2 brokerage firms by reviewing their security features, trading platform, trading fees, payment methods, and much more.
Our review of each investment platform comprises our own experience with each brokerage firm. We further studied user reviews, and analyzed expert opinions about both options.
Tradestation vs Webull: Verdict
Tradestation comes out on top as the investment platform offers lower trading fees for crypto trading than Webull and caters to both beginners and intermediate crypto traders.
Pros
- Offers crypto education
- Offers several tools for analytics and advanced trading
- Offers free crypto deposits and withdrawals
- Features advanced order types
- Easy process to open Tradestation account
Cons
- Crypto withdrawals from the platform are restricted to specific times of the day
- Limited crypto availability
Pros
- Free Charges zero commissions
- Offers several advanced trading tools
- Users enjoy free stocks, ETFs, and options
- Easy account opening process
Cons
- Limited deposit and withdrawal methods
- Not beginner-friendly
Tradestation vs Webull: Unique Features
Tradestation Unique Features
Trading Simulator
TradeStation’s trading simulators allow users to test out new ideas and advanced trading strategies before executing them in the actual crypto market.
This is like a demo mode. The simulator is best for both beginners and advanced investors as it allows users to practice buying and selling, test several tools, and test new trading styles as well as new markets without having to risk any funds.
The trading simulator provides traders with simulated virtual currency which can be used to trade on the platform. Also, the trading simulator mirrors the actual crypto market which makes trading with the simulator look real.
Asides from the testing of strategies, the trading simulator also gives users access to advanced orders futures and options, strategy automation, and alternate market types.
Webull Unique Features
Webull Paper Trading
Webull Paper Trading allows traders to practice their trading skills before trading in the actual market.
The trading simulator mirrors actual market movements, this enables you to get a hang of actual trading without losing your money.
The feature is suitable for beginners and experienced investors who wish to trade but do not have enough funds or who wish to test new trading strategies.
With Webull demo trading, the user has access to unlimited virtual cash which can be used to trade.
Asides from simulating actual market movements, Webull demo trading also gives users access to 12 charting tools, 50 technical indicators, and real-time quotes. Users can also set price alerts for their preferred cryptocurrency.
Winner in Unique Features
This round is a draw as both Tradestation and Webull have user-friendly features that make trading on the platform easy for various types of traders.
Tradestation vs Webull: Cryptocurrencies Available
Cryptocurrencies Available on TradeStation
TradeStation users can trade only the following cryptocurrencies on the platform: Bitcoin, Litecoin, USD Coin, Bitcoin Cash, Ethereum, Compound, Aave, Maker, Chainlink, Polygon, and Shiba Inu.
Cryptocurrencies Available on Webull
Webull users can trade over 44 cryptocurrencies on both the mobile and desktop trading platform. Available cryptocurrencies include Bitcoin, Ethereum, Uniswap, Ethereum Classic, Shiba Inu, Avalanche, Basic Attention Token, Curve DAO, USD Coin, Decentraland, Bitcoin Cash, Stellar Lumens, etc.
Winner in Crypto Availability
Webull wins here as it supports over 44 cryptocurrencies. Tradestation, on the other hand, supports only 11 cryptocurrencies.
Tradestation vs Webull: Fees
Tradestation Fees
Volume Range ($0 – $1,000)
- Maker: $2 + .35%
- Taker: $2 + .60%
Volume Range ($1,001 – $10,000)
- Maker: .35%
- Taker: .45%
Volume Range ($10,001 – $50,000)
- Maker: .20%
- Taker: .30%
Volume Range ($50,001 – $100,000)
- Maker: .12%
- Taker: .25%
Volume Range ($100,001 – $1,000,000)
- Maker: .10%
- Taker: .18%
Volume Range ($1,000,001 – $5,000,00)
- Maker: .08%
- Taker: .15%
Volume Range ($5,000,001 – $10,000,000)
- Maker: .05%
- Taker: .12%
Volume Range ($10,000,001 – $50,000,000)
- Maker: .025%
- Taker: .11%
Volume Range (>$50,000,000)
Contact Tradestation Crypto for pricing
Crypto trading on Tradestation with USDC (USD Coin) is free. Also, Tradestation does not charge for using Tradestation’s desktop platform, the Tradestation app, or the web-based platform.
Futures trading (futures contracts) and options trading (options trading via stock options) are also free.
Webull Fees
Webull does not charge active traders a flat fee. It offers commission-free crypto trades. However, it does charge a 100-basis point spread which amounts to 1% charged for its transaction fee.
Webull also charges $8 for each deposit and $25 for withdrawals.
Winner in Fees
Tradestation wins in fees. The platform offers a more affordable fee structure for active traders.
Tradestation vs Webull: Payment Methods
Tradestation Payment Methods
The Tradestation platform offers 1 payment method: Bank transfer.
Webull Payment Methods
Whether you want to fund a margin account, engage in options trading, ETF trading, or day-trading, Webull allows users to deposit funds only via bank transfer.
Winner in Payment Methods
This round is a draw as both brokerage firms only support bank transfers.
Tradestation vs Webull: Security
Tradestation Security
Tradestation is a member of the Financial Industry Regulatory Authority (FINRA), The Securities Investor Protection Corporation (SIPC), the New York Stock Exchange (NYSE), and the Chicago Mercantile Exchange (CME). The platform is regulated by the Securities and Exchange Commission (SEC).
TradeStation’s desktop platform and mobile apps are encrypted with 256-bit data encryption.
Tradestation has a team of trained anti-money laundering and anti-fraud specialists that monitor all customers’ accounts and the Tradestation system to ensure that all suspicious activities are promptly discovered and resolved.
The platform also has a security measure in place that alerts the user when significant aspects of their profiles are altered.
Changes to contact information, account settings, and login credentials trigger this alert to ensure that the user quickly detects when an unauthorized third party has access to their account.
Webull Security
Webull is a member of the Securities Investor Protection Corporation. It is also registered and regulated by the Securities and Exchange Commission and the Financial Industry Regulatory Authority (FINRA).
As a member of the Securities Investor Protection Corporation, it has up to $500,000 cover against cash loss and securities protection.
Webull offers users several security features to secure their accounts, this includes two-factor authentication. Users are required to confirm their trading password for every transfer.
They also need to provide a random verification code generated by the Google Authenticator app for every transfer to and from their account.
Winner in Security
This round is a draw as neither Webull nor Tradestation has been hacked and both platforms offer sophisticated security measures.
Tradestation vs Webull: Usability
Tradestation Usability
Tradestation offers an easy-to-use trading experience for both beginners and experienced investors. Its desktop platform offers access to top-notch broker’s trading tools like advanced charting, options trading, day trading, and paper trading (paper trading is demo trading).
Webull Usability
Webull offers a web-based platform, a desktop platform, and a mobile app. Webull is more suited to experienced investors as most beginners will struggle to get a hang of it.
Winner in Earn/Staking Rewards
Tradestation wins in usability as the platform is the easiest to use based on user reviews and first-hand experience.
Tradestation vs Webull: Customer Service
Tradestation Customer Service
Tradestation offers round-the-clock customer service to users every day, except the second weekend of every month.
It offers customer service via email, online chat, and phone.
Tradestation also offers dedicated support for each aspect of trading including stocks and options trading, futures trading, and the OTC desk.
Webull Customer Service
Webull offers customer support via email at [email protected] and phone at +1 (888) 828-0618.
Winner in Usability
This round is a draw as both Tradestation and Webull offer average customer service.
Conclusion: Final Verdict
Tradestation is the overall winner of the Webull vs Tradestation battle. The brokerage firm is the easiest option of the two to use and it offers popular cryptocurrencies as well as lower fees. It also offers margin and futures trading, as well as fractional share trading.
Webull on the other hand has high fees but offers a larger selection of assets. However, users have complained about its usability.
FAQ
Most frequent questions and answers
Tradestation does not charge users to use any of its platforms (desktop platform, web, or mobile app).
We always try to provide the most accurate information available, and make sure our team follow through.
If you want to know more about our Crypto Exchanges Review Methodology follow the link below
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