Webull vs tastyworks: Choosing the Best Brokerage Platform for You

If you’ve been thinking about trying your hand at investing, you’ve likely heard of tastyworks and Webull. These two brokerage platforms allow investors to be more active in their pursuit of building wealth and meeting financial goals without the expense of an advisor. So let’s take a look at Webull vs tastyworks roundup.

Webull vs tastyworks: – Which Is Better for You?

Both tastyworks and Webull offer great benefits, but they have some disadvantages. Choosing the best depends on your needs and goals. We’ll dive into details in this guide so you can make the best choice.

Webull Pros and Cons

Stock, ETF and options trades for freeConstrained product line / portfolio
Account opening is fast and easy. Only bank transfers are accepted for deposits and withdrawals.
Can give you a competitive edge.Poor customer service

tastyworks Pros and Cons

Large collection of resources and educational content Few account amenities and limited investment options
Low trading fees The platform can seem intimidating to a novice trader.
Advanced tools built specifically for options traders Few withdrawal and deposit methods.

Webull vs tastyworks: Beginner-Friendliness

Webull vs tastyworks: Beginner-Friendliness

A big factor in choosing the right brokerage platform is how prepared you are to manage it yourself. If you are brand-new to investing and trading, chances are you need some help navigating the process.

Just like starting a new job, you need some training and some education to do your job right. Though some of this will only come after you dive in, starting with no direction or guidance sets you up for failure. Investing your money requires some basic information to ensure you don’t lose it all due to unnecessary mistakes.

Unless you already know what you’re doing, tastyworks is a better choice in this category. It offers research tools and educational content that give you a higher chance of success. This is not a strong area for Webull, though you can find some learning tools there, and they seem to be expanding.

Webull vs tastyworks: User-Friendliness

Regarding the platform’s user-friendliness, the best choice depends on how you plan to access it and what you’re using it for. For example, if you are interested in options trading and prefer to do it on the desktop platform, tastyworks is the way to go. On the other hand, if you’re not planning on delving into options trading or you are pleased using your mobile device, Webull takes the cake.

Webull vs tastyworks: Fees

Regarding fees, it might look like Webull is better – and for some, that’s true. Webull doesn’t charge commissions or fees on stock trading, options trading, or inactivity.

tastyworks does not charge any opening on stocks or any closing commissions on anything but cryptocurrencies. However, it charges per contract fees of anywhere from $0.25 to $3.50 on opening equity options and futures options. Cryptocurrencies can be up to $10 to open and close.

Which of these is better? Consider the following two areas of comparison to decide.

Webull vs tastyworks: Available Products

Webull offers several investment products, including stocks, options, ETFs, and cryptocurrency. tastyworks goes a bit further. It offers stocks, options, cryptocurrency, and various futures products.

This is one area that the fees tastyworks charges might be worth the expense. You get a more comprehensive range of products to diversify your portfolio with. Whether the fees are worth depends on which products you are interested in.

If you are only interested in stocks, options, ETFs, and digital currency, there’s probably not a reason to pay the fees that tastyworks charges. You can invest in cryptocurrency for free on Webull, whereas there are fees and commissions on tastyworks. However, tastyworks has other options that Webull does not.

If you’re interested in all products, there’s no reason you can’t use both. But, first, you can save commissions and fees by doing your basic investing on Webull. Then, use tastyworks for the rest. Before deciding, take the following section into account.

Webull vs tastyworks: Customer Support

Webull vs tastyworks: Customer Support

One major area that Webull tends to lack is the customer service department, but there’s a legitimate reason for that. Having ongoing and responsive customer support requires having people available to help.

And like every other company, this requires having money to pay those people. Unfortunately, Webull isn’t charging you commissions and fees, so they aren’t making money necessary to pay support staff. tastyworks, however, is known for its customer service.

So the bottom line is this: you get what you pay for. If you need help with options trading and other tasks, you’ll need to be willing to pay the fees. If you’re not willing to pay, you’ll need to accept that getting customer support will be more of a challenge. And since Webull doesn’t offer much educational content and guidance, there’s a chance you’ll need help if you’re a beginner.

Webull vs tastyworks: Offers and Promotions

Both tastyworks and Webull offer some promotions and bonuses worth adding to the equation. Before jumping in, it’s essential to understand these are time-sensitive. They change throughout the year. So while we’re going to give examples, you should check their current promotions before signing up.

Currently, Webull is offering free stocks with sign-up and funding. When you open an account, you get two free stocks worth up to $300 each. Then, once you fund your account – with any amount – you receive another three free stocks, valued at up to $3,000 each. 

This is a really good deal for anyone who doesn’t have a great deal to invest in in the beginning.

tastyworks is currently offering at least $200 in free stock. To earn it, you have to fund your account with at least $2,000 in addition to the value of the stock bonus. This amount must stay in your qualified account for three months or more.

tastyworks also has a referral program that allows you to earn pretty nice prizes. This includes free meals and one year of internet access to paid trips and vehicles.

As far as rewards and sign-up offer to go, tastyworks has some advantages, but there are higher requirements to earn them. Unless you have $2,000 or more that you can leave sitting in your account for an extended period, these bonuses might not be worth it. Webull bonuses, on the other hand, make it easier for those with less to invest.

Again, though, these opportunities are subject to change. So be sure you look at each option before signing up to ensure you have the most current information.

Webull vs tastyworks: Funding Options

Like most people, when you have the money available to deposit, you want to jump in and start investing it. It’s not quite that simple, though.

There is some misinformation currently floating around on the topic of instant transfers to Webull that leads people to choose this platform. You must know the truth to make the right decision.

While some platforms allow you to fund instantly from credit cards and similar tools, neither tastyworks nor Webull does. When you view the FAQ section of each website, they expressly state that you can choose ACH transfer or wire transfer. With tastyworks, you can also use a check. Though they might add more funding options in the future, these are the current funding options.

The good news is that neither one makes you wait until your funds have been cleared to invest. Once those funds have been verified, they both credit your account up to $1,000 to begin investing while you wait for your own funds. Then, they’ll subtract that credit amount when your funds clear.

Which Is Better for Me: Webull vs tastyworks?

As you can see, both of these platforms offer some pretty nice perks and have advantages over the other. However, they both have disadvantages, as well. So let’s recap to help you make the best decision between the two.

Where Webull Shines – and Doesn’t

Webull is a great option for those looking for a way to invest casually and do not need much guidance. It offers a more user-friendly mobile platform. It is also fee- and commission-free, and earning sign-up bonuses with Webull is a much more achievable goal. However, disadvantages include having fewer products, less customer support, and doesn’t provide educational content like tastyworks.

Where tastyworks Shines – and Doesn’t

tastyworks is great for those with more money to invest and who want more investment avenues. It offers educational content and research to inform you about your investment decisions. It is also a better option when you need customer support. However, the disadvantages include that some investment options charge fees and commissions, and the bonuses are not as attainable.

How to Decide

Making this decision comes down to what you need and want to do. Take a minute to answer the following questions:

  • Do I know what I’m doing, or do I need educational materials to help?
  • How deep do I want to dive into the process? Do I want to stick with basic investments or dive into advanced ones?
  • Will I be accessing the platform on my phone or my computer?
  • How likely will I leave $2,000 in my account for months to earn the bonuses?
  • Am I willing to wait for a while before customer service responds, or do I need customer support at all times?

Answering these questions is the best way to make your decision. Remember, though, that you’re never stuck with one another. You can always change platforms if needed, and you can utilize both for different needs.

Webull vs tastyworks FAQs

Yes, both platforms are regulated by the Securities and Exchange Commission (SEC), the Financial Industry Regulatory Authority (FINRA), and the Securities Investor Protection Corporation (SIPC). However, futures accounts lack the protection of the SIPC.
Both platforms take the necessary steps to protect your personal and banking information, including encryption, security features, firewalls, and two-factor authentication. Additionally, the SIPC protects up to $500,000 of your money.
tastyworks is great for beginners learning how to dip their toes into trading. However, if you’re interested in serious day trading, tastyworks is probably a bit too limited. Instead, you’ll want to consider some more comprehensive platforms for your needs, like Fidelity or TD Ameritrade.

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