Webull versus eToro

Chinese-owned, US-based brokerage Webull launched in 2017, while eToro opened its US-based subsidiary in 2019. Both brokers offer access to cryptocurrencies rather than derivative contracts, making them ideal for long-term investors. Webull promises advanced trading tools, while eToro brings its massive network of 20+ million traders plus its popular copy trading service.

Both brokers offer their proprietary trading platforms, where eToro deploys an easier to learn solution versus a more advanced one at Webull. The mobile app at Webull remains more sophisticated than eToro, but eToro counters with superior investment across the cryptocurrency sector. It includes its in-house-developed wallet and acquisitions of cryptocurrency firms Firmo and Delta. It also developed a sentiment indicator based on Twitter mentions of select cryptocurrencies.

We have conducted an in-depth review of Webull and eToro to determine which one presents the better overall choice and which traders will benefit the most at either broker.

Features and Platforms

Features & PlatformseToro (visit site)Webull (visit site)
Headquarter:USUS
Established :
20192017
Retail Loss Rate:
UndisclosedUndisclosed
Regulation:
Minimum Deposit:
$50$0
Demo Account:
Managed Account:
Islamic Account:
Inactivity Fee
Deposit Fee:
Third-Party
Withdrawal Fee
Third-PartyThird-Party
Funding Methods:
22
MT4:
MT5:
cTrader:
Proprietary Platform:
Automated Trading:
Social / Copy Trading:
MT4/MT5 Add-ons:
Guaranteed Stop Loss:
Negative Balance Protection:
Undisclosed
Bonuses and Promotions:
Unique Feature One:
Large trading communityExcellent order execution
Unique Feature Two:
Copy-trading platformLow trading costs
Broker Offers:

Noteworthy:

eToro beta tests commission-free equity and ETF trading, while Webull already offers it. Neither broker supports algorithmic trading, but the eToro copy trading platform and Twitter-based sentiment indicator present a distinct advantage over Webull.

Available Markets

Available MarketseToroWebull
Currency Pairs:
Cryptocurrency Pairs:
Commodities and Metals:
Indices:
Equities:
Bonds:
ETFs:
Options, Futures, and Synthetics:
Maximum Retail Leverage:
1:11:4
Maximum Pro Leverage:
1:11:4

Cryptocurrency traders get 48 assets at Webull versus 42 at eToro, plus an overall broader choice of equities and ETFs. eToro remains in closed beta for trading instruments outside of cryptocurrencies but is likely to duplicate its international offering. Overall, Webull provides traders with more in-depth diversification opportunities from a broader asset selection.

Typical Spreads and Fees

Typical Spreads & FeeseToroWebull
Minimum Raw Spreads:
Not applicableUndisclosed
Minimum Standard Spreads:
Not applicableUndisclosed
Minimum Commission for Forex:
Not applicableCommission-free
Commission for CFDs/DMA:
Not applicableCommission-free
Commission Rebates:
Not applicableNot applicable
Execution Type:
Market MakerDMA

Webull lacks pricing transparency concerning spreads. eToro lists Bitcoin as low as 0.75%, but most at 1.90% and 4.90% as the maximum. eToro also levies a 0.10% crypto-to-crypto conversion fee and 0.50% cryptocurrency transfer fee. Traders must also consider blockchain fees. Webull earned a reputation as a lower-cost broker than most of its US competitors.

Security and Trust

eToro

Country of the RegulatorName of the RegulatorLicense Number
US
Financial Crimes Enforcement Network (FinCEN)Not applicable

Webull

Country of the RegulatorName of the RegulatorLicense Number
US
US Securities and Exchange Commission (SEC)Undisclosed

Besides SEC regulation, both brokers are members of the Financial Industry Regulatory Authority (FINRA) and the Securities Investor Protection Corporation (SIPC). The SIPC offers protection up to $500,000 per net equity or $250,000 for cash claims. eToro USA LLC, the cryptocurrency unit, is not a FINRA/SIPC member but duly registered as a Money Service Business with the Financial Crimes Enforcement Network (FinCEN).

Webull also has membership with The New York Stock Exchange (NYSE), the NASDAQ, and the CBOE EDGX Exchange (CBOE EDGX) with a clean FINRA record. Both brokers initiated the process of an IPO, with private valuations for Webull approximately at $400 million versus $2.5 billion for eToro.

eToro vs Coinbase – Verdict

eToro

ProsCons
Copy-trading with a community numbering 20+ million tradersLimited deposit and withdrawal options
User-friendly web-based trading platform and mobile appLow asset selection
Quality educational offering for beginner traders via videos
Acceptable cryptocurrency spreads and proprietary cryptocurrency wallet

Webull

ProsCons
Quality proprietary trading platform with Level 2 data and advanced mobile appLow leverage and high financing costs on overnight positions
A secure trading environment with an additional third-party insurance policyLimited deposit and withdrawal options
Broad-based equity selection and fractional share dealingHigh deposit requirements for margin trading and short selling accounts
Excellent order execution statistics and transparency

Webull maintains lower trading costs and a broader choice of assets, but eToro trumps Webull overall with its extensive trading community. eToro also has a superior cryptocurrency infrastructure due to investment in crypto companies. Additionally, it developed its cryptocurrency wallet and Twitter-based sentiment indicator.

Read full eToro Review
Read full Webull Review

FAQs

Is Webull better than eToro?

It depends on the individual, but eToro remains a better choice for cryptocurrency investors and additionally features copy trading.

Is Webull the same as eToro?

Both offer US-based traders commission-free cryptocurrency, equity, and ETF trading but present traders with an overall different trading environment.