Webull vs tastytrade: Which Broker is Better for Options, Crypto, and Stocks Trading?

Webull vs tastytrade: thanks to these platforms, the stock market has never been more accessible to the general public. Have you ever watched Wolf of Wallstreet? The chances are that you thought ‘if he can do it, I can’. Webull and tastytrade give you all the tools you need for options, crypto, and stock trading – right on your smartphone.

We’re taking an in-depth look at two of the most popular online broker platforms to help you find the right one for you.

What is Webull?

Webull is an online commission-free broker platform that doesn’t require a minimum balance. Due to industry regulations, the only minimum balance requirement is of $2,000 to use a margin account. Webull offers its users the option of taxable accounts and both traditional and Roth IRA accounts through which to trade ADRs, ETFs, options, and stocks.

Webull allows you to trade over 6,000 different EFTs and stocks with competitive margin rates. The platform also offers cryptocurrency investing.

Webull puts you in the driver’s seat for your portfolio, giving you control over your investments and allowing you to allocate your funds. What we love about Webull is that the platform does not charge a commission fee on any trades, including options. There are fees involved with making domestic and international wire transfers.

It’s worth noting that you’ll be charged interest if you have a margin account with Webull. You can find out more about Webull from our in-depth Webull Review.

Webull Referral Code

Before we move on to talking about Webull’s options, crypto, and stock trading, it’s worth highlighting their referral program. Webull offers free stock for users who get others to sign up via their unique referral link. These free stocks can be worth anywhere from $3 to $3,300.

If you want to find out more about Webull’s referral program, we have an in-depth guide in our Webull referral program article. You can sign up to Webull using our Webull referral link.

Webull Options Trading

A major benefit of using Webull is that the platform offers zero-commission on their options trading, with 0% contract and assignment fees. While most brokers charge $0.65 per contract, Webull is $0. The platform offers both basic and more complex options. It’s worth noting that only selected investors can trade more complex options, depending on the level assigned to them by Webull. This level relates to your experience.

Webull Crypto Trading

Webull supports market orders and limit orders for crypto trading, with no minimum equity required to trade crypto. The platform enables you to access crypto trading around the clock, 7 days a week. Webull currently provides access to 11 cryptocurrencies, including Bitcoin, Ethereum Classic, and Dash.

You can also purchase your cryptocurrencies in fractional quantity, with the option to pay in cryptocurrency or USD for your crypto trading. Webull allows you to buy and sell cryptos at a minimum of $1.

Webull Stocks Trading

Webull allows you to start trading stocks right away with 0 commissions. The minimum investment for fractional shares in stock is $5, which is slightly higher than competitors like Trading 212. You can also access complimentary real-time data and customizable charts to stay ahead of the markets.

When you open your Webull account via a referral link, you can get a free stock value up to $2,000, with referral bonus promotions free stocks valued at up to $300. It’s worth noting that Webull currently only covers US stocks and EFTs, which is something to keep in mind if you want a diverse portfolio of stocks from across the world.

With it only taking around a day to set up a Webull account, you can start trading stock almost right away. You can also experiment with stock trading by using the demo account provided to practice in real-time.

What is tastytrade?

tastytrade was founded in 2017 and is a popular trading platform that was developed from an online video channel, tastytrade. This platform trade exclusively in the stocks and options market. You’ll be able to take advantage of lower pricing than what you would have access to through most major brokerages.

It’s an ideal platform for active traders, although it is lacking in trading options, including bonds and fractional shares. One of the major benefits of using tastytrade is its generous referral program.

tastytrade has three separate trading platform options – their desktop program, website system, and mobile app. Whatever your preference is for trading, you can take tastytrade with you on the go. Read more about tastytrade in this tastytrade Review.

tastytrade Referral Code

We have an in-depth guide that covers everything that you need to know about the tastytrade referrals program in this tastytrade referral article and you are welcome to use our tastytrade referral code. The headline is that tastytrade offers a higher than industry average referral code. Your rewards are based on the number of referrals that you make.

Users receive a referral credit for every successful referral that they meet. These credits are valued higher than the industry standard, with users able to apply their credits towards merchant items. For example, 2 referral credits will get you a Google Home, while 750 credits will get you a Tesla Model S.

You’ll receive your referral credit when your referrals add a minimum of $2,000 to their tastytrade account within the first 60 days of opening their account. Are you ready to get started with tastytrade? You can sign up via our tastytrade referral link.

tastytrade Options Trading

We consider tastytrade to be the best platform for options due to its low trading fees. It also provides useful research tools and educational material for those who are new to options trading and want to build their skills and knowledge. As tastytrade is primarily geared towards options trading, most of the tools that you’ll find on the platform are made with this in mind.

It’s worth noting that you’ll eb charged $1 to open options trade, but it won’t cost you to close options trade. Future trades are charged at a $1.25 per contract.

tastytrade Crypto Trading

tastytrade has recently expanded to offer cryptocurrencies as part of their trading. If you have a cryptocurrency-enabled account, you’ll be able to trade 18 different types of crypto coins. These crypto coins include Bitcoin, Chain Link, Doge Coin, and Stellar. Currently, tastytrade users can only establish long positions on cryptocurrencies with net short positions currently unavailable.

Cryptocurrencies can only be traded at tastytrade and cannot be redeemed, with tastytrade also not supporting the transfer in and out of crypto positions. tastytrade also offers Paxos Gold, the tokenized version of physical gold.

You can enable your tastytrade account for crypto trading within a few short clicks. Setting up a cryptocurrency order on the tastytrade platform is similar to setting up an order for stock or futures. All cryptocurrency orders on the platform are good till cancel (GTC) orders.

The minimum tastytrade cryptocurrency order is $1. When you enable cryptocurrency on your tastytrade account, you’ll have an account created at Zero Hash, Tastywork’s cryptocurrency custodian, which operates a hot wallet for its users.

tastytrade currently charges 1% of the total crypto purchase to open the trade and 1% to closed, with the cryptocurrency commission capped at $10 per order ticket.

tastytrade Stocks Trading

This next-generation platform offers trading options for stocks and futures, with the innovative user interface being easy to use to make stock trading easier than ever. tastytrade is a platform that is designed with experienced stock traders in mind.

tastytrade currently offers fractional trading with a minimum of $25 per transaction. It’s worth highlighting that the platform charges $1 per contract for stock options, while charging $2.50 for futures options. The opening and closing commissions on stocks traded through tastytrade is $0.

Webull vs tastytrade – Final Thoughts

We enjoy using tastytrade due to its ability to support cryptocurrency, options, stocks, and futures. Its high referral rewards are major selling points, along with its options-specific charting tools. tastytrade markets itself as a platform that supports retirement, corporate, and joint accounts. If you’re looking for a platform that offers fractional shares and bonds, it may be best to skip tastytrade.

We’re a fan of Webull for its app, making trading on the go simpler than ever for the dedicated active trader. Their referral program makes it one of the best for trading stocks online, with a beginner-friendly user interface.

While Webull is a good all-around platform for doing crypto, options, and stock trading, we’re a fan of using tastytrade specifically for options. These two platforms have been made with specific interests in mind, allowing you to tailor your investing experience to meet your trading needs. Both platforms offer low trading costs, allowing everyday active traders to get involved.

The best way to secure your financial future is to start working on your portfolio today. With these popular platforms, the stock market is right at your fingertips. Also, read about Webull vs Coinbase to know which platform is better.