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Luis Clark
Luis is a personal finance expert who has been passionate and writing about crypto for more than five years.
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    7. Tradestation vs Webull 2023:...

    Tradestation vs Webull 2023: Features & Fees

    tradestation review
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    webull review
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    This Tradestation vs Webull article compares these 2 brokerage firms by reviewing their security features, trading platform, trading fees, payment methods, and much more

    Our review of each investment platform comprises our own experience with each brokerage firm. We further studied user reviews, and analyzed expert opinions about both options. 

    Tradestation vs Webull: Verdict

    Tradestation comes out on top as the investment platform offers lower trading fees for crypto trading than Webull and caters to both beginners and intermediate crypto traders.

    tradestation logo us

    Pros

    Cons

    webull logo

    Pros

    Cons

    Tradestation vs Webull: Unique Features

    Tradestation Unique Features 

    Trading Simulator

    tradestation vs webull

    TradeStation’s trading simulators allow users to test out new ideas and advanced trading strategies before executing them in the actual crypto market

    This is like a demo mode. The simulator is best for both beginners and advanced investors as it allows users to practice buying and selling, test several tools, and test new trading styles as well as new markets without having to risk any funds. 

    The trading simulator provides traders with simulated virtual currency which can be used to trade on the platform. Also, the trading simulator mirrors the actual crypto market which makes trading with the simulator look real.

    Asides from the testing of strategies, the trading simulator also gives users access to advanced orders futures and options, strategy automation, and alternate market types. 

    Webull Unique Features

    Webull Paper Trading

    Webull Paper Trading allows traders to practice their trading skills before trading in the actual market

    The trading simulator mirrors actual market movements, this enables you to get a hang of actual trading without losing your money. 

    The feature is suitable for beginners and experienced investors who wish to trade but do not have enough funds or who wish to test new trading strategies. 

    With Webull demo trading, the user has access to unlimited virtual cash which can be used to trade. 

    Asides from simulating actual market movements, Webull demo trading also gives users access to 12 charting tools, 50 technical indicators, and real-time quotes. Users can also set price alerts for their preferred cryptocurrency

    Winner in Unique Features

    This round is a draw as both Tradestation and Webull have user-friendly features that make trading on the platform easy for various types of traders.

    Tradestation vs Webull: Cryptocurrencies Available

    Cryptocurrencies Available on TradeStation

    TradeStation users can trade only the following cryptocurrencies on the platform: Bitcoin, Litecoin, USD Coin, Bitcoin Cash, Ethereum, Compound, Aave, Maker, Chainlink, Polygon, and Shiba Inu.

    Cryptocurrencies Available on Webull

    crypto available webull

    Webull users can trade over 44 cryptocurrencies on both the mobile and desktop trading platform. Available cryptocurrencies include Bitcoin, Ethereum, Uniswap, Ethereum Classic, Shiba Inu, Avalanche, Basic Attention Token, Curve DAO, USD Coin, Decentraland, Bitcoin Cash, Stellar Lumens, etc.

    Winner in Crypto Availability

    Webull wins here as it supports over 44 cryptocurrencies. Tradestation, on the other hand, supports only 11 cryptocurrencies.

    Tradestation vs Webull: Fees

    Tradestation Fees

    Volume Range ($0 – $1,000)

    • Maker: $2 + .35% 
    • Taker: $2 + .60%

    Volume Range ($1,001 – $10,000)    

    • Maker: .35%
    • Taker: .45%

    Volume Range ($10,001 – $50,000)

    • Maker: .20%
    • Taker: .30%

    Volume Range ($50,001 – $100,000)

    • Maker: .12%
    • Taker: .25%

    Volume Range ($100,001 – $1,000,000)

    • Maker: .10%
    • Taker: .18%

    Volume Range ($1,000,001 – $5,000,00)

    • Maker: .08%
    • Taker: .15%

    Volume Range ($5,000,001 – $10,000,000) 

    • Maker: .05%
    • Taker: .12%

    Volume Range ($10,000,001 – $50,000,000)

    • Maker: .025%
    • Taker: .11%

    Volume Range (>$50,000,000)

    • Contact Tradestation Crypto for pricing

    Crypto trading on Tradestation with USDC (USD Coin) is free. Also, Tradestation does not charge for using Tradestation’s desktop platform, the Tradestation app, or the web-based platform. 

    Futures trading (futures contracts) and options trading (options trading via stock options) are also free.

    Webull Fees

    Webull does not charge active traders a flat fee. It offers commission-free crypto trades. However, it does charge a 100-basis point spread which amounts to 1% charged for its transaction fee

    Webull also charges $8 for each deposit and $25 for withdrawals.

    Winner in Fees

    Tradestation wins in fees. The platform offers a more affordable fee structure for active traders.

    Tradestation vs Webull: Payment Methods

    Tradestation Payment Methods

    The Tradestation platform offers 1 payment method: Bank transfer

    Webull Payment Methods

    Whether you want to fund a margin account, engage in options trading, ETF trading, or day-trading, Webull allows users to deposit funds only via bank transfer

    Winner in Payment Methods

    This round is a draw as both brokerage firms only support bank transfers.

    Tradestation vs Webull: Security

    Tradestation Security 

    security tradestation

    Tradestation is a member of the Financial Industry Regulatory Authority (FINRA), The Securities Investor Protection Corporation (SIPC), the New York Stock Exchange (NYSE), and the Chicago Mercantile Exchange (CME). The platform is regulated by the Securities and Exchange Commission (SEC).

    TradeStation’s desktop platform and mobile apps are encrypted with 256-bit data encryption

    Tradestation has a team of trained anti-money laundering and anti-fraud specialists that monitor all customers’ accounts and the Tradestation system to ensure that all suspicious activities are promptly discovered and resolved. 

    The platform also has a security measure in place that alerts the user when significant aspects of their profiles are altered. 

    Changes to contact information, account settings, and login credentials trigger this alert to ensure that the user quickly detects when an unauthorized third party has access to their account. 

    Webull Security

    Webull is a member of the Securities Investor Protection Corporation. It is also registered and regulated by the Securities and Exchange Commission and the Financial Industry Regulatory Authority (FINRA). 

    As a member of the Securities Investor Protection Corporation, it has up to $500,000 cover against cash loss and securities protection.

    Webull offers users several security features to secure their accounts, this includes two-factor authentication. Users are required to confirm their trading password for every transfer. 

    They also need to provide a random verification code generated by the Google Authenticator app for every transfer to and from their account.

    Winner in Security

    This round is a draw as neither Webull nor Tradestation has been hacked and both platforms offer sophisticated security measures.

    Tradestation vs Webull: Usability

    Tradestation Usability

    Tradestation offers an easy-to-use trading experience for both beginners and experienced investors. Its desktop platform offers access to top-notch broker’s trading tools like advanced charting, options trading, day trading, and paper trading (paper trading is demo trading). 

    Webull Usability

    Webull offers a web-based platform, a desktop platform, and a mobile app. Webull is more suited to experienced investors as most beginners will struggle to get a hang of it. 

    Winner in Earn/Staking Rewards

    Tradestation wins in usability as the platform is the easiest to use based on user reviews and first-hand experience.

    Tradestation vs Webull: Customer Service

    Tradestation Customer Service

    Tradestation offers round-the-clock customer service to users every day, except the second weekend of every month. 

    It offers customer service via email, online chat, and phone

    Tradestation also offers dedicated support for each aspect of trading including stocks and options trading, futures trading, and the OTC desk. 

    Webull Customer Service

    help webull

    Webull offers customer support via email at customerservices@webull.us and phone at +1 (888) 828-0618

    Winner in Usability

    This round is a draw as both Tradestation and Webull offer average customer service. 

    Conclusion: Final Verdict

    Tradestation is the overall winner of the Webull vs Tradestation battle. The brokerage firm is the easiest option of the two to use and it offers popular cryptocurrencies as well as lower fees. It also offers margin and futures trading, as well as fractional share trading. 

    Webull on the other hand has high fees but offers a larger selection of assets. However, users have complained about its usability. 

    FAQ

    Most frequent questions and answers

    Tradestation does not charge users to use any of its platforms (desktop platform, web, or mobile app).

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