Start the conversation
Commission-free options trading platforms have taken the trading world by storm this year. If you're new to trading or just looking to try out a new platform, you might be wondering whether Robinhood or Webull offers the better platform.
Today, we're going to break down the two most popular options trading apps and show you how you can start making money with options right now.
You see, these platforms have leveled the playing field so individuals - even younger traders - can trade as often, or as infrequently, as they like. Getting approved for options trading through your brokerage used to be a cumbersome process that required a minimum account balance and filling out forms. But with the new apps, it's as simple as clicking a button.
The best part is that now they are commission-free. That means no extra costs to eat into your profits. And it also means you have a little extra room for error.
There is one more benefit of today's trading platforms - you don't need to put up a lot of money to get started. Many have no minimums at all. You can start buying options with just a few dollars.
Options 101: Tom Gentile has been teaching people how to trade for decades, and his FREE guide has everything you need to get started, from the basics to essential do's and don'ts for profitable trading. Click here now.
And if you want, most trading platforms have additional tools to help you plan your trades. Some are free and other, more advanced tools, are available for a fee.
Both Robinhood and Webull get the job done with trade executions and account management. The differences are mostly user preference, although one offers a few of those extra charting tools.
Here are the pros and cons of both Robinhood and Webull when it comes to trading options.
Robinhood and Webull Will Get the Job Done
Before we get into options, each of these platforms offer some different features for plain old stock trading.
One of the newer trends today is trading fractional shares. A few years ago, you needed to go to a special type of firm to allow you to buy a half share of Amazon.com Inc. (NASDAQ: AMZN). Lately, you may have seen ads from Schwab and Fidelity offering "slices" of stocks. The problem is that none of these platforms are geared to beginners like Robinhood and Webull are. You will have minimums and other restrictions to worry about.
But fear not: Robinhood now offers this service.
Another feature traders are often looking for is short selling. If you want to sell stocks short, only Webull offers that. But we don't recommend shorting stocks. The risk is infinite.
But instead of worrying about fractional shares or shorting stocks, you can achieve the same goals using regular put and call options.
You can "control" shares of Amazon using call options and even structure your trades to keep costs affordable. And you can execute a bearish strategy with put options. These are so much simpler than figuring out if you can buy 0.023 shares of Alphabet Inc. (NASDAQ: GOOGL).
So, which one of these two platforms is better to trade options on? Again, it has to do with user preference and your own goals. Are you a real beginner? Robinhood is optimized for you. It's easy to use, it has no fees or minimums, and you can start trading right away.
However, you won't find many robust analysis tools.
If you want to perform basic charting analysis, Webull offers those features. It even offers a trading simulator to help you test your strategies. That's a big plus once you start to get into more advanced analysis.
But don't forget that you do get what you pay for. In this case, zero-dollar commissions mean questionable customer service. If you think you will need a little help, then Robinhood's simplicity might be the better choice.
No matter which one you choose, you will be on your way to making money trading options. Remember to start small, and don't let big market moves push you into trading above your abilities. It is better to bat for singles and doubles, rather than swing for the fences. Your odds for success will be much better.
And if you want an expert in your corner, we've got you covered too...
Millennial Millionaire's One-of-a-Kind Trading System
It's been generating money hand over fist since the recession of 2008... and now, he's finally sharing the secret!
Investors in today's economic climate need every advantage they can get, and I don't think I've ever seen a strategy more powerful than this.
Click here for the full story and the next three plays he has his eye on.