Webull vs. E*TRADE (2026): Which One Should You Open?
Webull is the cheaper, lighter active-trading account. E*TRADE is the one that also holds your retirement money and trades futures.
Small active account: Webull. One account that has to do everything: E*TRADE.
If you searched "E*TRADE vs. Webull"
Same comparison. The answer turns on volume and on whether this account also has to hold your retirement money.
Options and active-trading costs
Webull charges nothing per contract on equity options, and $0.50 on index options. E*TRADE charges $0.65, falling to $0.50 once you clear 30 trades in a quarter. For equity options that is not a close call — a ten-contract round trip is free on Webull and $10.00 at E*TRADE's reduced tier.
Margin runs the other way round only slightly: Webull is tiered from about 9.74% down to 5.74% on the largest balances, E*TRADE from around 10.00% before its own tiers. And E*TRADE offers futures, which Webull does not. If futures matter, the comparison ends there.
On one screen
| WEBULL | E*TRADE | |
|---|---|---|
| Stock and ETF commissions | $0 | $0 |
| Options per contract | $0 on equity options; $0.50 per contract on index options | $0.65 per contract, falling to $0.50 above 30 trades a quarter |
| Futures | Available | Available, $1.50 per contract |
| Charting and paper trading | Extensive, free | Power E*TRADE — strong options tooling, no simulator equivalent |
| Level 2 market data | Level 1 quotes and full charting are free; Level 2 depth and advanced data come with Webull Premium at $40 a year | Paid add-on |
| Margin | tiered by balance, from roughly 9.74% under $25K down to about 5.74% on the largest balances | tiered by balance — 12.45% at the introductory tier (per published comparisons, December 2025), falling on larger balances |
| Retirement accounts | traditional, Roth and rollover IRAs | Traditional, Roth, SEP, SIMPLE, and more |
| Branches | None | Yes, plus Morgan Stanley’s network |
Platform comparison
Webull is better on charts and has a paper-trading mode. Power E*TRADE is better on options specifically — strategy builder, risk graphs, faster chain work. Which is "better" depends entirely on whether you are analysing price or structuring a spread.
Our Robinhood vs. Webull comparison covers Webull’s tooling against the other modern app.
What each one costs to own
Webull is close to free until you want depth. No subscription, no commission on equity options, free charting and paper trading. The one recurring cost is Webull Premium at $40 a year, which is what unlocks Level 2 market data and the advanced feeds. That is cheap for what it is, but it is a cost E*TRADE does not have an equivalent to at the same price.
E*TRADE charges you for the shelf. No subscription either, but the per-contract fee is real, the cash sweep pays less than a money market fund, and the ACAT-out fee is $75. What you get for it is retirement accounts, futures, and Morgan Stanley research behind the platform.
Who each one is wrong for
- Webull is wrong as a primary retirement account, and wrong for futures. The IRA range is thin and there is no branch or adviser to call when something goes wrong.
- E*TRADE is wrong for a small account watching every fee, particularly one trading equity options — you would be paying $0.65 a contract for something Webull gives away.
- Both are wrong if what you actually want is to stop making decisions. Read E*TRADE vs. M1 Finance instead.
What this means for you
- Small active account watching every fee: Webull.
- Spreads and structured options work: E*TRADE.
- Futures: E*TRADE.
- One account for trading and retirement: E*TRADE.
Figures and rules in this article are checked against the official sources below. Where they disagree with us, they win.
