tastytrade vs Webull — which broker is better?

Pros

• Equity options are USD 1 per contract to open, USD 0 to close and capped at USD 10 per leg — large multi-leg orders scale for free
• Futures at USD 1.00 per contract per side and micro futures at USD 0.75, with options on micro futures also USD 0.75
• No inactivity fee, no annual IRA maintenance fee and free ACH deposits and withdrawals
• Desktop, web and mobile all support full multi-leg order entry, rolling and curve analysis — the mobile app is not a stripped-down afterthought
• tastylive produces roughly eight hours of live options programming every trading day, plus a searchable research archive on strategy mechanics
• Stocks, ETFs and fractional shares trade commission-free, and Treasury bills carry no transaction fee
• Accepts clients from around 50 countries directly onto the US entity, including most of the EU, Switzerland, the UK and Singapore

Cons

• FINRA censured and fined tastytrade USD 850,000 in 2026 for failing to run adequate best-execution reviews on equity orders routed to five payment-for-order-flow market makers between 2020 and 2023
• Margin interest starts at 11.00% on debits under USD 25,000 — materially more expensive than the cheapest US brokers
• USD-only accounts with no multi-currency balances, so non-US clients pay their own bank's FX spread on every deposit and withdrawal
• Product range stops at US-listed instruments: no foreign exchanges, no mutual funds, no corporate or municipal bonds, no spot forex
• Crypto costs 1.00% per side (0.75% for BTC and ETH) and is held at Zero Hash, outside SIPC protection
• Broad-based index options such as SPX are excluded from the USD 10 commission cap and carry an additional exchange proprietary index fee

Pros

• USD 0 commission on US-listed stocks, ETFs and equity options, with no per-contract fee — index options are the only equity-derivative exception at USD 0.50 per contract
• A real desktop terminal for Windows, macOS and Linux, with multi-monitor layouts, depth-of-market and a script editor — rare at this price point
• Publicly listed on Nasdaq as BULL since April 2025, so financials and risk disclosures are in the public record
• Free paper trading with the same charts and order tickets as the live account, which makes the options approval process much less punitive
• Futures on CME and Coinbase Derivatives at a reported USD 1.25 per side (E-mini) and USD 0.25 per side (micro), plus fixed income at a 0.1% principal mark-up
• Six top-tier licences across the group — SEC/FINRA, CFTC/NFA, FCA, ASIC, MAS and the Dutch AFM
• No account maintenance fee and no minimum deposit; ACH in and out is free

Cons

• Customer support is the standing complaint: Trustpilot sits at roughly 1.3–1.4 out of 5, with transfers and account access the most common themes
• Crypto costs a 1% spread on each side — about 2% round trip — which is expensive next to a dedicated exchange
• Margin rates are not published on the public pricing page and start around 8.74% at the standard tier, well above brokers such as Public.com
• USD 75 to transfer your securities out, and 1.75% to withdraw to a debit card
• A 2023 FINRA settlement over options-approval due diligence and complaint handling is on the record
• No spot forex, no CFDs, no traditional mutual fund supermarket, and non-US clients get a materially different product depending on which entity they land in