Chinese-owned, US-based brokerage Webull launched in 2017, while eToro opened its US-based subsidiary in 2019. Both brokers offer access to cryptocurrencies rather than derivative contracts, making them ideal for long-term investors. Webull promises advanced trading tools, while eToro brings its massive network of 20+ million traders plus its popular copy trading service.
Both brokers offer their proprietary trading platforms, where eToro deploys an easier to learn solution versus a more advanced one at Webull. The mobile app at Webull remains more sophisticated than eToro, but eToro counters with superior investment across the cryptocurrency sector. It includes its in-house-developed wallet and acquisitions of cryptocurrency firms Firmo and Delta. It also developed a sentiment indicator based on Twitter mentions of select cryptocurrencies.
We have conducted an in-depth review of Webull and eToro to determine which one presents the better overall choice and which traders will benefit the most at either broker.
- Features and Platforms
- Available Markets
- Typical Spreads and Fees
- Security and Trust
- eToro vs. Webull - Verdict
 |  | |
Headquarters | Israel | United States |
Regulators | ASIC, CySEC, FCA, FSA | SEC |
Tier 1 Regulator(s)? | ||
Owned by Public Company? | ||
Year Established | 2007 | 2017 |
Execution Type(s) | Market Maker | ECN/STP |
Minimum Deposit | $50 - $10,000 | $0 |
Negative Balance Protection | N/A | |
Trading Platform(s) | Proprietary platform | Proprietary platform |
Average Trading Cost GBP/USD | 2.2 pips | N/A |
Average Trading Cost WTI Crude Oil | $0.05 | N/A |
Average Trading Cost Gold | $0.45 | N/A |
Retail Loss Rate | 74% | N/A |
Minimum Raw Spreads | 0.8 pips | N/A |
Minimum Standard Spreads | 1.3 pips | N/A |
Minimum Commission for Forex | $0.00 | N/A |
Islamic Account | ||
Signals | ||
US Persons Accepted? | ||
Managed Accounts | ||
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Features and Platforms
| | |
MT4 | ||
MT5 | ||
MT4/MT5 Add-Ons | N/A | |
cTrader | ||
Proprietary Platform | ||
Automated Trading | ||
Social/Copy Trading | N/A | |
DOM? | ||
Guaranteed Stop Loss | ||
Scalping | ||
Hedging | ||
One-Click Trading | ||
OCO Orders | ||
Interest on Margin | ||
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Noteworthy:
eToro beta tests commission-free equity and ETF trading, while Webull already offers it. Neither broker supports algorithmic trading, but the eToro copy trading platform and Twitter-based sentiment indicator present a distinct advantage over Webull.
Available Markets
| | |
Currency Pairs | N/A | |
Cryptocurrencies | N/A | |
Commodities | ||
Crude Oil | ||
Gold | ||
Metals | ||
Equity Indices | ||
Stocks (non-CFDs) | ||
Bonds | ||
ETFs | ||
Options | ||
Futures | ||
Synthetics | ||
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Cryptocurrency traders get 48 assets at Webull versus 42 at eToro, plus an overall broader choice of equities and ETFs. eToro remains in closed beta for trading instruments outside of cryptocurrencies but is likely to duplicate its international offering. Overall, Webull provides traders with more in-depth diversification opportunities from a broader asset selection.
Typical Spreads and Fees
| | |
Average Trading Cost GBP/USD | 2.2 pips | N/A |
Average Trading Cost WTI Crude Oil | $0.05 | N/A |
Average Trading Cost Gold | $0.45 | N/A |
Average Trading Cost Bitcoin | $574 | N/A |
Minimum Raw Spreads | 0.8 pips | N/A |
Minimum Standard Spreads | 1.3 pips | N/A |
Minimum Commission for Forex | $0.00 | N/A |
Deposit Fee | N/A | |
Withdrawal Fee | N/A | |
Inactivity Fee | $10 monthly after 12 monthd | N/A |
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Webull lacks pricing transparency concerning spreads. eToro lists Bitcoin as low as 0.75%, but most at 1.90% and 4.90% as the maximum. eToro also levies a 0.10% crypto-to-crypto conversion fee and 0.50% cryptocurrency transfer fee. Traders must also consider blockchain fees. Webull earned a reputation as a lower-cost broker than most of its US competitors.
Security and Trust
| | |
Country of the Regulator | Australia, Cyprus, Seychelles, United Kingdom | United States |
Name of the Regulator | ASIC, CySEC, FCA, FSA | SEC |
Regulatory License Number | 491139, 109/10, 583263, SD076 | 289063, 8-69978 |
Regulatory Tier | N/A | 1 |
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Besides SEC regulation, both brokers are members of the Financial Industry Regulatory Authority (FINRA) and the Securities Investor Protection Corporation (SIPC). The SIPC offers protection up to $500,000 per net equity or $250,000 for cash claims. eToro USA LLC, the cryptocurrency unit, is not a FINRA/SIPC member but duly registered as a Money Service Business with the Financial Crimes Enforcement Network (FinCEN).
Webull also has membership with The New York Stock Exchange (NYSE), the NASDAQ, and the CBOE EDGX Exchange (CBOE EDGX) with a clean FINRA record. Both brokers initiated the process of an IPO, with private valuations for Webull approximately at $400 million versus $2.5 billion for eToro.
eToro vs Coinbase – Verdict
eToro
Pros | Cons |
|---|---|
| Copy-trading with a community numbering 20+ million traders | Limited deposit and withdrawal options |
| User-friendly web-based trading platform and mobile app | Low asset selection |
| Quality educational offering for beginner traders via videos | |
| Acceptable cryptocurrency spreads and proprietary cryptocurrency wallet |
Webull
| Pros | Cons |
| Quality proprietary trading platform with Level 2 data and advanced mobile app | Low leverage and high financing costs on overnight positions |
| A secure trading environment with an additional third-party insurance policy | Limited deposit and withdrawal options |
| Broad-based equity selection and fractional share dealing | High deposit requirements for margin trading and short selling accounts |
| Excellent order execution statistics and transparency |
Webull maintains lower trading costs and a broader choice of assets, but eToro trumps Webull overall with its extensive trading community. eToro also has a superior cryptocurrency infrastructure due to investment in crypto companies. Additionally, it developed its cryptocurrency wallet and Twitter-based sentiment indicator.
You might also be interested in reviewing the below broker comparisons:
- Webull vs TD Amitrade
- Webull vs Coinbase
- Webull vs Robinhood
- eToro vs Capital.com
- eToro vs IQ Options
- eToro vs XTB
FAQs
Is Webull better than eToro?
It depends on the individual, but eToro remains a better choice for cryptocurrency investors and additionally features copy trading.
Is Webull the same as eToro?
Both offer US-based traders commission-free cryptocurrency, equity, and ETF trading but present traders with an overall different trading environment.