Robinhood vs Webull (2026)
Robinhood and Webull both charge $0 for stocks, ETFs and stock and ETF options, and both offer overnight trading in select securities. Robinhood starts margin at 5.25% for every customer and pays interest on cash with Gold; Webull charges 8.74% on margin unless you pay for Premium, adds a downloadable desktop app, bonds and mutual funds, and charges $75 to transfer out against Robinhood's $100.
By Wealthy Pot Editorial · Facts checked October 19, 2026
| Feature | Robinhood | Webull |
|---|---|---|
| Type | App-first | App-first |
| Stock/ETF commission | $0 | $0 |
| Options per contract | $0 stock/ETF options; index options $0.50 ($0.35 with Gold) | $0 stock/ETF options; index options $0.50 |
| 10-contract options trade, open + close | $0 ($0 a year at 2 a month) | $0 ($0 a year at 2 a month) |
| Rate on uninvested cash | 0% APY (Uninvested cash without Robinhood Gold) | Not published (Cash Management sweep (opt-in)) |
| Margin rate on $10,000 | 5.25% | 8.74% |
| Transfer out (full account) | $100 | $75 |
| Paid tier | Robinhood Gold: $5/mo | Webull Premium: $3.99/mo |
| Account minimum | $0 | $0 |
| Fractional shares | Yes | Yes |
| Account types | Taxable, joint, IRA, Roth, custodial, trust | Taxable, joint, IRA, Roth, rollover, custodial |
| Platforms | Web, iOS, Android | Web, iOS, Android, Desktop |
Options, cash and margin rows are our arithmetic from each broker's published commissions, default cash rate and margin rates (commissions only, before small regulatory and exchange fees). Rates change with the Federal Reserve's rate.
Key differences
The margin rate in the table depends on the subscription. Robinhood charges 5.25% up to $50,000 with or without Gold, and Gold makes the first $1,000 of margin interest-free. Webull charges a flat 8.74% on the standard account and 5.45% under $25,000 with Premium ($40 a year). Hypothetically, a $20,000 debit balance held for a year costs $20,000 x 8.74% = $1,748 at Webull standard, $1,090 + $40 = $1,130 with Webull Premium, and $20,000 x 5.25% = $1,050 at Robinhood without Gold. Interest accrues daily and rates move with the Fed, so real figures will differ.
The product lists differ. Webull runs a downloadable desktop app for Mac, Windows and Linux, sells Treasuries and corporate bonds, and offers mutual funds at the lesser of 3% or $14.95 on each purchase and sale. Robinhood sells no mutual funds or individual bonds and has Robinhood Legend, a browser-based desktop platform. Robinhood offers futures at $0.75 a contract per side ($0.50 with Gold) through an affiliate that SIPC does not cover. Webull moved crypto to a separate Webull Pay app. Robinhood's overnight session runs 8 PM to 7 AM ET; Webull's runs 8 PM to 4 AM ET, Sunday to Thursday.
Cash and IRA matches carry conditions at both. Robinhood pays 3.6% APY on eligible taxable cash with Gold and nothing on IRA cash. Webull pays on cash only if you enroll in its sweep, shows that rate only in its app, and pays 0.10% on IRA cash. On IRA contributions, Robinhood matches 1%, or 3% with Gold; Webull matches 1%, or 3.5% with Premium. Both require matched assets to stay 5 years and the subscription to be kept a year for the higher match. Both have paid regulators: Robinhood Financial a $65 million SEC penalty in December 2020, Webull a $3 million FINRA fine in March 2023.
Where Robinhood wins
- No commission and no per-contract fee on stock and ETF options
- Margin from 5.25%, with the tier rate applied to the whole balance
- Overnight trading in select stocks and ETFs, 24 hours on weekdays
- IRA match of 1%, or 3% with Gold, on contributions
- Excess-SIPC policy up to $50 million per customer
- No account minimum, no maintenance fee and no inactivity fee
Where Webull wins
- Desktop app for Mac, Windows and Linux, plus web and mobile
- $0 per contract on stock and ETF options
- Overnight session from 8 PM to 4 AM ET, Sunday to Thursday, for select securities
- $75 transfer-out fee, against $100 at Robinhood, Public and Moomoo
- Treasuries, corporate bonds and mutual funds as well as stocks
- Premium margin from 5.45% for $40 a year
Which should you choose?
Pick Robinhood if
- You trade stock or ETF options and want no per-contract fee on them.
- You borrow on margin and want a rate that starts at 5.25% for every customer, with or without Gold.
- You invest from a phone, in small dollar amounts, with fractional shares from $1.
- You will pay $50 a year for Gold and want the 3.6% cash rate and the 3% IRA contribution match that come with it.
Pick Webull if
- You trade stock and ETF options and want no per-contract fee on them.
- You want a downloadable desktop app for Mac, Windows or Linux, not only a phone app.
- You borrow on margin and will pay $40 a year for Premium rates from 5.45%.
- You want Treasuries, corporate bonds and an IRA in the same app as your trading account.
Robinhood vs Webull: FAQ
Is Robinhood or Webull cheaper for index options?
Both charge $0 per contract on stock and ETF options. On index options both charge $0.50 a contract plus the exchange's index fee; Robinhood Gold cuts it to $0.35, and Webull Premium tiers it down to $0.40 and $0.30 above 1,000 and 5,000 contracts a month. Webull also charges $0.10 per contract on stock option orders of 500 or more contracts on the Held route. See our options platform guide.
Which pays more on cash, Robinhood or Webull?
We cannot compare them directly. Robinhood publishes 3.6% APY on eligible taxable cash with Gold and pays nothing without it. Webull shows its Cash Management sweep rate only inside its app, pays nothing on cash that is not enrolled, and pays 0.10% on IRA cash.
Can I move from Robinhood to Webull for free?
No. Robinhood charges $100 for each full or partial outgoing ACATS transfer, sells fractional shares when you transfer out, and can claw back IRA matches on assets that leave within 5 years. Leaving Webull later costs $75 per outgoing stock transfer.
Compare these against every option in our online brokers comparison.
We summarize each company's published terms and pricing, not user reviews or our own testing. Facts come from our full reviews of both brokers, each checked against the broker's own fee schedule, rate and disclosure pages on October 19, 2026 with every source listed. Some outbound links may be affiliate links. That never affects our comparisons. Nothing here is investment advice.