Tastyworks vs. Webull - Which is Better for You?
Both Tastyworks and Webull are good for certain individuals – we have accounts with both – however each have clear advantages in specific categories that the other doesn’t.
Before we get into the specifics and categories 1 by 1 comparing them, we’ll just give you a brief overview.
If you’re looking for a Robinhood alternative that has less technical issues and downtime then Webull is a pretty good alternative that’s also commission-free — alternatively if you’re looking to upgrade you options trading game to the next level then there’s no better brokerage for options trading than Tastyworks.
Ultimately if you’re a casual trader or investor who mostly sticks with straight stock then Webull is likely a better choice for you — but if you dabble in options trading/investing then definitely go with Tastyworks.
Which Platform has better features - Tastyworks or Webull?
We’d say Tastyworks wins this category — This is because they offer a significantly better desktop trading platform, particularly for options trading. Honestly no other brokerage comes even close to tastyworks platform quality for options-trading/investing, and for stock trading they’re simple and adequate just as good as anyone else, so really their platform is stellar in this regard.
Webull’s platform is a little more “cluttered” in our opinion, and less user-friendly, however offers a suitable platform for trading stocks, especially on desktop — however they simply do not compare when it comes to options trading, which is why we believe Tastyworks has the overall better platform.
If you aren’t interested in options trading at all, then Webull is just as good as Tastyworks platform wise, and there’s even better options such a M1 Finance if you aren’t interested in options-trading.
Which Platform has lower fees - Tastyworks or Webull?
Webull wins this category slightly (sort of) — Both Tastyworks and Webull are now commission-free for stocks and all normal services, however for options and futures Tastyworks offers a low-fee of $1/options-trade and $2.50/futures-trade — Webull however doesn’t charge a fee for such trades, although getting access to trading such products on Webull is significantly harder than on Tastyworks.
While this may sound like Webull is better in this category — there’s a caveat to this all — The way Tastyworks calculates the margin-useage is different than Webull does, and due to this if you sell options on tastyworks while you pay a $1 commission on open and $0 on closing you’ll likely make it up due to saved margin fees due to the difference in calculating buying-power.
Which Has The Best Signup Bonus Offers - Tastyworks or Webull?
This depends on how much Capital you have to Invest — If you have more funds to invest ($2000+) then tastyworks offers a higher signup bonus, but if you only have a smaller sum to invest ($100) then Webull definitely offers the better bonus.
You can read more about Tastyworks Sign-Up Bonus offers on this page of our website, as often there’s more promotions than just a sign-up bonus with tastyworks, or you can simply sign up using this link, deposit $2000+, and then contact support asking to be signed up for the “trader challenge” to earn $250+ in sign-up rewards.
Alternatively Webull offers between 1 and 4 shares of stock (each valued between $8 and $1600) for simply signing up through a promotional link such as this one and depositing $100 or more into your account within 30 days.
Which Platform has better Customer Service - Tastyworks or Webull?
We’d say Tastyworks Firmly wins this category — This is because just like other no-commission brokers such as Robinhood Webull simply doesn’t have very stellar customer service. They’re quite slow to respond, and their phone-system often has very long wait times or is offline in our experience — meaning that if you need to execute an option or an order during downtime then you’re screwed.
Meanwhile with Tastyworks their customer service is great — You can call them up and speak to someone generally in a few minutes or less that actually knows their stuff and has the power to solve your issues (such as execute an option) and answer questions you may have. Their email/message-support also seems to respond quickly (within a couple hours at most) unless it’s the weekend and the markets are closed.
What Advantages does Webull have over Tastyworks?
While overall we believe Tastyworks has more advantages than Webull there’s still plenty of advantages to Webull — Namely that they offer an easier to get sign-up bonus, requiring only $100 to be deposited with them, have absolutely 0 commissions, and has a slightly easier to use mobile interface (although worse desktop experience in our opinion).
Ultimately we’d say Webull is a decent all-in-one brokerage if you don’t care to have good customer support and don’t think you’ll need to execute an options contract that you purchased (as with Webull it’s difficult to do so with the slow customer support).
What Advantages does Tastyworks have over Webull?
Tastyworks has superior customer service to Webull, a better sign-up bonus, a better options-trading interface on desktop (and stock trading interface), and of course a much better sign-up bonus assuming you have $2000+ to deposit with them, as covered on this page of our website.
However as mentioned above, Webull has advantages such as a better mobile app and truly 0 commissions verses tastyworks near-0 commissions.
Do we use Webull or Tastyworks?
At GreeneryFinancial we opt for using Tastyworks over Webull, as we prefer trading on our labtop/desktop rather than mobile device, and do enough options-trading to justify using a more options-oriented service.
We also have other brokerage accounts however, including a M1 Finance portfolio which we use for more hands-off passive investing strategies, rather than swing-trades like we generally use Tastyworks for — Webull we have some capital in, however we generally don’t like their interface as much so we only keep money in them so that we can hedge our positions in other brokerages in case their system’s go down.
