Webull continues to expand its trader base but remains a newcomer on the brokerage scene. TD Ameritrade remains a stalwart among brokers across the US, combining high-quality online trading services with its brick-and-mortar financial advisory business, now part of Charles Schwab. TD Ameritrade presents traders with superior trading platforms, desktop clients and mobile apps, and high-quality trading tools, missing at Webull.

Both brokers offer IRA accounts, but TD Ameritrade has a notably broader choice of trading instruments, allowing traders and investors to achieve in-depth cross-asset diversification. It also maintains quality research and education, where Webull, as an execution-only broker, focuses on lower trading costs and order execution. TD Ameritrade also supports algorithmic trading and offers managed portfolios, absent at Webull.

We have conducted an in-depth review of Webull and TD Ameritrade to determine which one presents the better overall choice and which traders will benefit the most at either broker.

Headquarters
United StatesUnited States
Regulators
N/ASEC
Tier 1 Regulator(s)?
Owned by Public Company?
Year Established
19712017
Execution Type(s)
ECN/STP, Market MakerECN/STP
Minimum Deposit
$50$0
Trading Platform(s)
Proprietary platform, Web-basedProprietary platform
Average Trading Cost EUR/USD
1.4 pips ($14.00)N/A
Average Trading Cost GBP/USD
1.3 pips ($12.00)N/A
Average Trading Cost WTI Crude Oil
UndisclosedN/A
Average Trading Cost Gold
UndisclosedN/A
Islamic Account
Signals
US Persons Accepted?
Managed Accounts
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Features and Platforms

MT4
MT5
cTrader
Proprietary Platform
Automated Trading
DOM?
Guaranteed Stop Loss
Scalping
Hedging
One-Click Trading
OCO Orders
Interest on Margin
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Noteworthy:

Following its 2020 acquisition by Charles Schwab, TD Ameritrade became the US leader for self-directed investors and traders. Webull remains highly popular among millennial and GenZ traders with its mobile-centric approach.

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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Webull presents traders with almost 15,000 equities listed in the US, Canada, and Hong Kong and features 48 cryptocurrencies. The overall asset selection at TD Ameritrade remains significantly broader across all sectors except for cryptocurrencies. TD Ameritrade also offers mutual funds, managed accounts, bonds, and annuities, but both brokers offer IPO trading.

Typical Spreads and Fees

Average Trading Cost EUR/USD
1.4 pips ($14.00)N/A
Average Trading Cost GBP/USD
1.3 pips ($12.00)N/A
Average Trading Cost WTI Crude Oil
UndisclosedN/A
Average Trading Cost Gold
UndisclosedN/A
Average Trading Cost Bitcoin
UndisclosedN/A
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Both brokers offer commission-free trading, but TD Ameritrade only applies it for US-listed equities and ETFs. Otherwise, a commission of $6.95 applies for equities, and options traders pay $0.65 per contract. Regulatory and exchange charges apply at Webull and TD Ameritrade. Webull offers low financing costs, with a maximum of 6.99% versus an excessive 9.50% at TD Ameritrade.

Security and Trust

Country of the Regulator
United StatesUnited States
Name of the Regulator
N/ASEC
Regulatory License Number
7870, 801-60469, 8-23395289063, 8-69978
Regulatory Tier
11
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Webull and TD Ameritrade maintain a highly secure and trustworthy trading environment. Besides SEC regulation, both are members of the Financial Industry Regulatory Authority (FINRA), the self-regulatory organization with SEC oversight. Traders get Securities Investor Protection Corporation (SIPC) protection, up to $500,000 per net equity or $250,000 for cash claims.

TD Ameritrade is part of publicly listed Charles Schwab, and both companies have a longstanding positive track record. Webull has had a clean FINRA track record since it launched 4+ years ago. It is also a member of the NYSE, the NASDAQ, and the CBOE EDGX Exchange. Webull started IPO talks in 2021 with valuations near $400 million.

TD Ameritrade vs Webull – Verdict

TD Ameritrade

Pros
Cons
Excellent asset selection across multiple sectors Limited deposit and withdrawal options
Superior trading environment and brick-and-mortar financial planningHigher overall trading costs
Competitive trading platforms with support for algorithmic/API trading
High-quality research and educational tools

Webull

ProsCons
Quality proprietary trading platform with Level 2 data and advanced mobile appLow leverage and high financing costs on overnight positions
A secure trading environment with an additional third-party insurance policyLimited deposit and withdrawal options
Broad-based equity selection and fractional share dealingHigh deposit requirements for margin trading and short selling accounts
Excellent order execution statistics and transparency

Webull is an ideal choice for seasoned traders and investors looking for an execution-only broker, where trading costs are lower versus TD Ameritrade, and the execution statistics and transparency remain positive factors. TD Ameritrade takes the overall lead, presenting a well-rounded brokerage. It supports algorithmic trading, maintains a well-rounded list of trading instruments, excellent research, and quality education. Customer service is superb, and TD Ameritrade also offers brick-and-mortar financial planning.

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FAQs

Is TD or Webull better?

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TD Ameritrade maintains an overall better trading environment.

What's the difference between TD Ameritrade and Webull?

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TD Ameritrade offers more sophisticated trading platforms, tools, and a notably broader choice of trading instruments.

Can I transfer my TD Ameritrade account to Webull?

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It is possible via ACATS for a cost of $75.

Can Webull be trusted?

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Webull has a clean FINRA record and ranks among the most trusted US-based brokers.