Are you a new investor? Or are you already in the financial markets and looking for a new exchange? On the market today, many good brokers can help you realize your dream of getting rich. This article will compare the two exchanges, eToro vs Webull. Have you heard of or used one of these exchanges? Please refer to the Investiki article below for more trading options.
eToro vs Webull: Compare Fees
Commission on the account
eToro charges a 0.09% fee per transaction. In addition, the applicable withdrawal fee is now five dollars per withdrawal. If a customer withdraws a currency other than dollars, eToro will also charge an additional conversion fee. This fee will depend on the currency used by the client.
Webull does not charge trading fees for clients who trade stocks or ETFs. Users only pay the spread and trading fees of the Securities and Exchange Commission (SEC). For customers using ACH, Webull will not charge withdrawal fees.
Deposit money into an account
The minimum amount for a client to deposit in eToro is $200. Customers can use credit and debit cards to top up. This exchange will not charge any fees when customers deposit money into the account. However, users can only use one currency per account.
Webull customers are not limited in the minimum amount deposited into their accounts. Webull has the support to make the deposit operation faster and easier. But clients who want to short-circuit the stock need to open a margin account. The client will need to deposit a minimum of $2,000 to open a margin account.
Both eToro and Webull offer pending trading. Clients can place orders to automatically close and open orders when the market reaches certain conditions.
eToro gives signals to users. Those who are interested in the daily signals of the best eToro traders can select that feature and add it to their watchlist. In this way, they can get a real-time signal of each update on their account via the eToro app, available for Android and iOS.
Social trading & copy trading
There’s no denying that eToro is one of the leading social trading networks. This exchange has attracted millions of users in 140 countries and offers many new social trading features. eToro also provides a copy trading feature for users. Users can refer to other users’ transaction details on this exchange. Then choose to automatically copy part or all of those transactions.
This is an essential feature for users who are just starting out in the financial markets. This audience is inexperienced, so that this feature can achieve better results.
In addition, eToro also has a famous Investor category. Prominent investors are the ones who need to build their trading strategies. They are not allowed to copy the trades of other traders. Users can choose to copy these traders.
Webull also allows clients to automate their trading through copy trading. Users can follow profitable traders, then open and close trades automatically.
Compare eToro and Webull customer support
eToro’s customer support is quite efficient. eToro recently offered a live chat with customer support. In addition, customers can send emails and open support tickets in the customer support section of the eToro website.
eToro currently supports clients in more than 140 countries around the world.
Webull also offers 24/7 customer support. Users can contact the customer service of this exchange via phone number or support email. However, Webull’s response to customer support requests is not timely.
The Webull exchange currently only supports customers in the United States, Brazil, India, Malaysia, Japan, China, Korea, the Philippines, and Turkey.
eToro vs Webull: Trading Platform
eToro users can transact directly on the web platform. In addition, eToro’s mobile app is relatively user-friendly. And clients have access to the markets and trading communities 24/7. Clients can easily search for trading products and features on eToro. But this app does not currently provide biometric authentication.
eToro users can use the mobile app in 25 languages. For example, English, Spanish, Italian, German, Russian, Chinese, French and Arabic …
Webull provides desktop trading applications for Both Windows and Mac computers. This broker also provides users with technical analysis applications and tools that are quite easy to use. The interface of the mobile application is quite similar to the web platform.