Webull vs. Fidelity: Compare the Two Investing Apps in 2022

Webull and Fidelity are two of the most popular brokerage accounts. Both offer commission-free trading for stocks and ETFs. Learn which broker can best meet your goals in the new year.

SustainFi   Updated December 29th, 2021

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At a glance

  • Webull and Fidelity appeal to different types of investors. Webull has a sleek interface, letting you buy cryptos, in addition to stocks and ETFs. Fidelity is a long-standing brokerage with unparalleled access to mutual funds
  • Best for day traders and crypto investors: Webull. Webull is like an advanced version of Robinhood that suits millennial and Gen Z traders and crypto investors. You can access a good selection of cryptos, get a margin loan, and buy fractional shares
  • Best for mutual funds, bond and OTC stock investors: Fidelity. Fidelity is known for its selection of low-cost mutual funds, some of which have no expense ratios. You can also buy bonds, CDs, and precious metals as well as over-the-counter (OTC) and foreign-domiciled stocks. Fidelity also has research and investor education materials

Keep reading to learn more.

Minimum

 $0

Minimum

$0

Fees

$0 for stock and ETF trades

Up to 0.35% for Fidelity Go

Fees

$0 for stock, option and ETF trades

Investments

Stocks, ETFs, options, fractional shares, mutual funds, bonds, CDs, precious metals

Investments

Stocks, ETFs, options, fractional shares, cryptos

Margin loans

Yes (4.0%-8.325%)

Margin loans

Yes (3.99%-6.99%)

Account types

Investment accounts, retirement accounts, custodial accounts, trusts, small business accounts

Account types

Investment accounts, retirement accounts

What is Webull?

Founded in 2017 and launched in 2018, New York City-based Webull is a broker that lets you trade more than 5,000 stocks and ETFs, as well as fractional shares, options, and cryptos. And you can get a margin loan with a 3.99%-6.99% rate. Trades are commission-free and there is no account minimum.

The investing app also offers advanced charting and analytics capabilities. You can trade on the sleek mobile app or customize the desktop interface as you see fit. To sum up, Webull is like Robinhood built for more advanced investors.

However, Webull doesn’t support investing in mutual funds, bonds, futures, or forex. For stocks, you can’t use the platform to buy over-the-counter (OTC) stocks, most penny stocks, or stocks listed on exchanges outside the U.S.

Because Webull targets self-directed investors who know what they are doing, investor education resources and research options are also pretty limited.

🔔 Read the full review of Webull.

What is Fidelity?

Fidelity is a very established broker and mutual fund provider. With Fidelity, you can buy commission-free stocks and ETFs. Mutual funds, options, bonds, CDs, and precious metals are also supported, though fees may apply. And, unlike TD Ameritrade or E*TRADE, Fidelity lets you buy fractional shares.

Fidelity is perhaps best-known for its mutual funds: many of them are offered without a transaction fee, and some even have no expense ratio.

The Fidelity app provides research, news, and access to a learning center. You can trade the same things you can on the desktop, except for bonds. However, Fidelity doesn’t offer cryptos or futures.

Fidelity also has a robo-advisor, Fidelity Go, that will create a balanced portfolio of mutual funds for you for an add-on fee.

Webull vs. Fidelity: Account types

Both Webull and Fidelity support the following account types:

  • Individual taxable investment accounts
  • Retirement accounts, including traditional, Roth, and rollover IRAs

In addition, Fidelity supports:

  • Joint investment accounts
  • Inherited and SEP IRAs
  • Custodial accounts
  • Trusts
  • Solo 401(k)
  • Health savings accounts

💰 The winner: Fidelity.

Webull vs. Fidelity: Minimum investment

Webull and Fidelity have $0 account minimums.

💰 The winner: Tie.

Webull vs. Fidelity: Commissions and fees

Both Webull and Fidelity offer free trading in stocks and ETFs. However, Webull offers free option trades, while Fidelity charges $0.65 per contract. Fidelity applies additional fees for broker-assisted trades ($32.95), some mutual funds ($49.95), and bonds or CDs ($1 per bond or CD).

Fidelity Go. Fidelity’s robo-advisor will charge you management fees for building a portfolio for you. Balances between $10,000 and $50,000 incur a $3 monthly fee. The fee is 0.35% of your assets each year once your investments exceed $50,000. There is no fee for a portfolio under $10,000.

💰 The winner: Webull. We like that Webull doesn’t charge for option trades.

Webull vs. Fidelity: User interface and tools

Aimed at active, self-directed investors, Webull is probably best known for its sleek design and intuitive analytics and investing tools, which include:

  • Charts, including bar, candlestick and line charts; also available on mobile
  • Stock screens and watchlists
  • Technical indicators
  • Real-time market data options (Nasdaq Basic, Nasdaq TotalView & NBBO)
  • A customizable layout
  • Virtual portfolio (paper trading) capabilities
  • Fundamental data like analyst ratings, news, and historical financials

There are mobile, web, and desktop versions.

However, Webull doesn’t offer research (external or in-house) or investor education materials. You will also need to pay for Level 2 market data (Nasdaq TotalView), which gives more detailed bid and offer data. Level 2 data is currently offered for free to new users for the first three months. After that, Level 2 data costs $1.99/month.

Fidelity has two platforms, Fidelity.com and Active Trader Pro, created for more advanced investors. Tools include screeners, backtesting capabilities, research reports, charting technical indicators, social sentiment scores, and customization capabilities. The Fidelity.com desktop experience still appears very out-of-date, however.

💰 The winner: Tie. Fidelity offers more tools, especially when research is concerned. However, the web interface continues to look out-of-date compared to Webull and other newer platforms.

Webull vs. Fidelity: Available investments and crypto

Webull lets you trade over 5,000 stocks and ETFs, including fractional shares. Fractional shares allow you to buy a piece of a share if buying the entire thing is more than you would like to spend.

With a $1 minimum, you can buy or sell crypto through the Webull platform. Webull supports many cryptos including Bitcoin, Ethereum, Cardano, Dogecoin, and Shiba Inu. Here is the entire list:

  • Bitcoin (BTCUSD)
  • Bitcoin Cash (BCHUSD)
  • Ethereum (ETHUSD)
  • Litecoin (LTCUSD)
  • Dogecoin (DOGEUSD)
  • Zcash (ZECUSD)
  • Stella Lumens (XLMUSD)
  • Ethereum Classic (ETCUSD)
  • Cardano (ADAUSD)
  • Dash (DASHUSD)
  • Shiba Inu (SHIBUSD)
  • Basic Attention Token (BATUSD)
  • Chainlink (LINKUSD)
  • Uniswap Protocol Token (UNIUSD)
  • Algorand (ALGOUSD)
  • Polygon (MATICUSD)
  • Sushi (SUSHIUSD)
  • Avalanche (AVAXUSD)
  • Terra (LUNAUSD)
  • REN (RENUSD)
  • Solana (SOLUSD)

Fidelity has more securities you can invest in, such as:

  • Stocks and ETFs (including fractional shares and international stocks)
  • Over 10,000 mutual funds from Fidelity and other companies, including many funds with a zero expense ratio
  • Options
  • Bonds and CDs
  • Precious metals like gold and silver

However, Fidelity doesn’t support crypto, futures or forex.

💰 The winner: Tie. Fidelity offers more investments, but, critically, not crypto. Webull, which supports crypto, offers fewer stocks, no mutual funds, and no bonds. Neither platform supports futures or forex.

Webull vs. Fidelity: Margin lending

Margin loans let you borrow against your investments. You can use margin to increase your trading power. To be eligible for a margin loan from Webull, you need to have at least $2,000 in your account. Interest on your loan is calculated daily and is payable monthly. How much you pay depends on the size of the loan. Here are the current rates:

Margin loanAnnual margin rate
<$25,0006.99%
$25,000-$99,9996.49%
$100,000-$249,9995.99%
$250,000-$499,9995.49%
$500,000-$999,999 4.99%
$1 – $3 million4.49%
> $3 million3.99%

With Fidelity, you need to apply for a margin loan if you want one. And Fidelity’s interest rates are much higher, especially if you don’t borrow a lot. Here are the rates:

Margin loanAnnual margin rate
<$25,0008.325%
$25,000-$49,9997.825%
$50,000–$99,9996.875%
$100,000–$249,9996.825%
$250,000–$499,9996.575%
$500,000–$999,9994.25%
> $1 million4.00%

💰 The winner: Webull, which offers lower borrow rates for most customers. (The only exception is customers who want to borrow over $1 million but less than $3 million, in which case Fidelity is slightly more competitive.)

Webull vs. Fidelity: Robo-Advisor

Aimed at self-directed investors, Webull doesn’t have a robo-advisor to build a portfolio of funds for you.

Although Fidelity doesn’t target investors who need a lot of hand-holding, they have Fidelity Go, a robo-advisor that will pick mutual funds for you. Although there is no fee for balances under $10,000, there is a $3/month fee for investments between $10,000 and $49,999, and a 0.35% annual management fee for portfolios over $50,000.

💰 The winner: Fidelity.

Webull vs. Fidelity: Trading hours

Webull supports full extended hours trading, which includes pre-market (4 AM – 9:30 AM EST) and after hours (4 PM – 8 PM EST) windows, meaning that you can place orders any time between 4 AM and 8 PM.

Fidelity also accepts pre-market orders (between 7 AM and 9.30 AM EST) and after hours, between 4 PM and 8 PM.

💰 The winner: Webull, which offers better pre-market hours. You can start placing orders at 4 AM, three hours ahead of Fidelity’s 7 AM.

Webull vs. Fidelity: Cash management

Webull doesn’t have any cash management products. So any uninvested cash will just sit in your account, and Webull will earn interest on it (which is one of the ways they get paid and not charge you commissions on trades.)

Although Fidelity offers a cash management account, it only pays a 0.01% APY on your cash, which is not great. However, you can put unused cash in a money market mutual fund or a short-term bond ETF instead.

💰 The winner: Fidelity.

💰 Is Webull or Fidelity better for you?

  • Best for day traders and crypto investors: Webull. Webull has a slick interface that makes it easy to trade stocks, ETFs, options and cryptos. It is great for active investors who don’t need a lot of hand-holding and know what they are doing. There are no commissions (except for crypto), no account minimums, and borrow rates are competitive
  • Best for mutual funds, bonds, precious metals, OTC and foreign stocks: Fidelity. Fidelity is an established full service brokerage that lets you trade more things than Webull (for example, precious metals, OTC stocks and mutual funds), with the exception of crypto. Fidelity also has more research and investor education materials

🔔 Want to compare more options? Check out this list of the top 10 investing apps.

Compare:

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