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TD Ameritrade Thinkorswim Vs Webull – Which Broker is Best for You?

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Written by Timothy Sykes
Updated 9/8/2023 9 min read

*Written by AI, Edited by Humans

TD Ameritrade thinkorswim and Webull are two leading online brokerages that offer a range of trading platforms and investment options. This article provides a comprehensive comparison to help you decide which broker best suits your trading needs, from fees and commissions to trading tools and customer service.

In the world of trading, the right brokerage can make all the difference. Whether you’re into stocks, options, or futures, the platform you choose can either be your greatest asset or your biggest hindrance. Let’s dive into the specifics of TD Ameritrade thinkorswim and Webull to help you make an informed decision.

Both platforms have their merits and drawbacks, and your choice will ultimately depend on your trading style, experience level, and financial goals. So let’s break it down.

What Is Thinkorswim?

Thinkorswim is a trading platform currently offered by TD Ameritrade, designed for active traders in search of a robust set of tools and indicators. However, it’s worth noting that TD Ameritrade is in the process of merging into Charles Schwab. This merger is expected to be completed in late 2023, at which point thinkorswim will be available to both Schwab and former TD Ameritrade users.

The platform is renowned for its advanced trading tools, comprehensive research features, and user-friendly interface. Whether you’re into charting or fundamental analysis, thinkorswim has got you covered. Given the upcoming merger, users can also expect a seamless transition and potentially even more features as it integrates with Charles Schwab’s offerings.

On a related note, if you’re wondering about the nitty-gritty details like whether you can buy fractional shares on TD Ameritrade, you’re not alone. These specifics can make or break a trading experience. For a closer look at this feature and how it compares to other platforms, here’s a guide that can help.

What Is Webull?

Webull is a commission-free trading platform that caters to the needs of both beginner and experienced traders. Unlike TD Ameritrade’s thinkorswim, Webull offers a more streamlined experience, focusing on ease of use and quick access to market data.

Webull offers a range of investment options, including stocks, ETFs, and cryptocurrencies. It’s a platform that’s gained popularity for its mobile app experience, offering trading on the go without compromising on features. If you’re a trader who values simplicity and quick access to information, Webull might be the right fit for you.

Thinkorswim Vs Webull – Detailed Comparison

When it comes to choosing between thinkorswim and Webull, investors have a lot to consider. Both platforms offer a range of investment products, from stocks and bonds to options trading. However, the differences between the two are significant enough to sway your decision based on your trading style and needs.

Thinkorswim, soon to be part of Charles Schwab, is a go-to place for traders looking for a comprehensive suite of tools. It’s a platform where you can diversify your investments, dabbling in everything from mutual funds to CDs. On the other hand, Webull is more streamlined, focusing on stock trades and a simplified user experience. It’s a platform that has garnered positive reviews for its ease of use, especially for those new to the trading business.

Both platforms offer mobile apps with robust charting tools, but they differ in additional features like loans and credit cards. While thinkorswim provides a more detailed page of research and analysis, Webull offers quick insights that are easily digestible. Your choice between the two will ultimately depend on what you’re looking to get out of your trading experience.

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Trading Tools

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When it comes to trading tools, thinkorswim offers a more comprehensive suite. From advanced charting to a plethora of indicators, the platform is a haven for traders who love to get into the nitty-gritty of analysis. Webull, on the other hand, offers a more streamlined set of tools geared towards quick decision-making.

Webull also offers paper trading as a way to practice without risking real money. Check out my guide to Webull paper trading here.

Research Tools

Both platforms offer robust research tools, but thinkorswim takes it a step further with its in-depth analysis and wide range of data. Webull focuses on providing quick, easily digestible information, making it more suitable for traders who prefer a fast-paced environment.

If you’re seeking alternatives, it’s worth comparing thinkorswim with other platforms like TradeStation. Each has its own set of research tools that cater to different trading styles. To get a better understanding of how thinkorswim stacks up against TradeStation, check out this comparison.

Investment Options

Thinkorswim offers a broader range of investment options, including stocks, options, futures, and forex. Webull focuses primarily on stocks, ETFs, and cryptocurrencies. Your choice here will depend on the variety of shares and other assets you’re interested in trading.

Account Types

Both platforms offer a variety of account types, catering to different investment strategies. Thinkorswim provides options for retirement accounts, margin trading, and more, while Webull offers standard brokerage accounts with the option for margin trading.

Commissions, Fees, and Pricing

Thinkorswim has a fee structure that includes commissions for certain types of trades, while Webull offers commission-free trading across the board. However, it’s essential to read the fine print as other fees may apply on both platforms.

Mobile App and Trading Platforms

Webull shines in the mobile app department, offering a seamless trading experience on the go. Thinkorswim, while robust in its desktop version, also provides a competent mobile experience, although it may be overwhelming for beginners due to its range of features.

Cryptocurrency Investing

Webull offers cryptocurrency trading, including popular options like Bitcoin and Ethereum. Thinkorswim does not currently offer direct cryptocurrency trading but does provide options for futures contracts on cryptocurrencies.

Customer Service

Customer service is an area where thinkorswim excels, as its broker offers 24/7 support via phone, email, and live chat. Webull offers customer service, but it’s not as comprehensive as thinkorswim’s, especially for complex trading issues.

Which Broker Should You Choose?

The choice between thinkorswim and Webull boils down to your trading style, the assets you’re interested in, and the level of customer service you require from brokers. Thinkorswim is a better fit for traders who require advanced tools and a wide range of investment options. Webull, on the other hand, is more suitable for those who prefer a simple, straightforward trading experience.

However, keep in mind that thinkorswim will soon be part of Charles Schwab, which could bring about changes in features and offerings.

Trading isn’t rocket science. It’s a skill you build and work on like any other. Trading has changed my life, and I think this way of life should be open to more people…

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Which trading platform do you use? Let me know in the comments — I love hearing from my readers!

Frequently Asked Questions

Why is Webull Better Than TD Ameritrade?

Webull offers commission-free trading and a more streamlined mobile app experience, making it a better fit for traders who prioritize low costs and ease of use.

What Is the Downside to Webull?

The downside to Webull is its limited range of investment options compared to thinkorswim, and its customer service is not as comprehensive.

How Do TD Ameritrade Thinkorswim and Webull Handle Account Security?

Both platforms prioritize account security, offering multiple layers of protection, including two-factor authentication and encryption technologies.

It’s worth mentioning that thinkorswim users will soon be part of Charles Schwab, a company also known for its robust security measures, post the completion of the merger in late 2023.

Which Country Can Use Webull?

Webull is available to customers in the U.S. and several other countries, although its offerings may vary by location.

What Training Resources Do Thinkorswim and Webull Offer to Beginners?

Both platforms offer a range of training resources for beginners, including tutorials, guides, and paper trading options to practice without risking real money.

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Author card Timothy Sykes picture

Timothy Sykes

Tim Sykes is a penny stock trader and teacher who became a self-made millionaire by the age of 22 by trading $12,415 of bar mitzvah money. After becoming disenchanted with the hedge fund world, he established the Tim Sykes Trading Challenge to teach aspiring traders how to follow his trading strategies. He’s been featured in a variety of media outlets including CNN, Larry King, Steve Harvey, Forbes, Men’s Journal, and more. He’s also an active philanthropist and environmental activist, a co-founder of Karmagawa, and has donated millions of dollars to charity. Read More

* Results are not typical and will vary from person to person. Making money trading stocks takes time, dedication, and hard work. There are inherent risks involved with investing in the stock market, including the loss of your investment. Past performance in the market is not indicative of future results. Any investment is at your own risk. See Terms of Service here

The available research on day trading suggests that most active traders lose money. Fees and overtrading are major contributors to these losses.

A 2000 study called “Trading is Hazardous to Your Wealth: The Common Stock Investment Performance of Individual Investors” evaluated 66,465 U.S. households that held stocks from 1991 to 1996. The households that traded most averaged an 11.4% annual return during a period where the overall market gained 17.9%. These lower returns were attributed to overconfidence.

A 2014 paper (revised 2019) titled “Learning Fast or Slow?” analyzed the complete transaction history of the Taiwan Stock Exchange between 1992 and 2006. It looked at the ongoing performance of day traders in this sample, and found that 97% of day traders can expect to lose money from trading, and more than 90% of all day trading volume can be traced to investors who predictably lose money. Additionally, it tied the behavior of gamblers and drivers who get more speeding tickets to overtrading, and cited studies showing that legalized gambling has an inverse effect on trading volume.

A 2019 research study (revised 2020) called “Day Trading for a Living?” observed 19,646 Brazilian futures contract traders who started day trading from 2013 to 2015, and recorded two years of their trading activity. The study authors found that 97% of traders with more than 300 days actively trading lost money, and only 1.1% earned more than the Brazilian minimum wage ($16 USD per day). They hypothesized that the greater returns shown in previous studies did not differentiate between frequent day traders and those who traded rarely, and that more frequent trading activity decreases the chance of profitability.

These studies show the wide variance of the available data on day trading profitability. One thing that seems clear from the research is that most day traders lose money .

Millionaire Media 66 W Flagler St. Ste. 900 Miami, FL 33130 United States (888) 878-3621 This is for information purposes only as Millionaire Media LLC nor Timothy Sykes is registered as a securities broker-dealer or an investment adviser. No information herein is intended as securities brokerage, investment, tax, accounting or legal advice, as an offer or solicitation of an offer to sell or buy, or as an endorsement, recommendation or sponsorship of any company, security or fund. Millionaire Media LLC and Timothy Sykes cannot and does not assess, verify or guarantee the adequacy, accuracy or completeness of any information, the suitability or profitability of any particular investment, or the potential value of any investment or informational source. The reader bears responsibility for his/her own investment research and decisions, should seek the advice of a qualified securities professional before making any investment, and investigate and fully understand any and all risks before investing. Millionaire Media LLC and Timothy Sykes in no way warrants the solvency, financial condition, or investment advisability of any of the securities mentioned in communications or websites. In addition, Millionaire Media LLC and Timothy Sykes accepts no liability whatsoever for any direct or consequential loss arising from any use of this information. This information is not intended to be used as the sole basis of any investment decision, nor should it be construed as advice designed to meet the investment needs of any particular investor. Past performance is not necessarily indicative of future returns.

Citations for Disclaimer

Barber, Brad M. and Odean, Terrance, Trading is Hazardous to Your Wealth: The Common Stock Investment Performance of Individual Investors. Available at SSRN: “Day Trading for a Living?”

Barber, Brad M. and Lee, Yi-Tsung and Liu, Yu-Jane and Odean, Terrance and Zhang, Ke, Learning Fast or Slow? (May 28, 2019). Forthcoming: Review of Asset Pricing Studies, Available at SSRN: “https://ssrn.com/abstract=2535636”

Chague, Fernando and De-Losso, Rodrigo and Giovannetti, Bruno, Day Trading for a Living? (June 11, 2020). Available at SSRN: “https://ssrn.com/abstract=3423101”