Why I Use 3 Free Investment Apps [Webull vs Robinhood vs M1 Finance]
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Why I Use 3 Free Investment Apps [Webull vs Robinhood vs M1 Finance]


It’s not which free investment app is best
but which is best for you. Which is going to have the features you need
to reach your goals. I’ll compare Webull vs Robinhood and M1
Finance but then I’m going to give you two reasons why you might consider using all three. We’re talking best investing apps today
on Let’s Talk Money! Beat debt. Make money. Make your money work for you. Creating the financial future you deserve. Let’s Talk Money. Joseph Hogue with the Let’s Talk Money channel
here on YouTube. I want to send a special shout out to everyone
in the community, thank you for taking a little of your time to be here today. If you’re not part of the community yet,
just click that little red subscribe button. It’s free and you’ll never miss an episode. Investment app reviews are popular here on
YouTube and you get the feeling that it’s a ‘Which is Best’ question…but it’s
not. In fact, I use three free investment apps
and have investment accounts on seven different platforms. I’ll reveal a few reasons why you might
need more than one investment account for free stock trading then review the newest
platform that is breaking out with some features you won’t find on M1 Finance or Robinhood. Then I’ll compare that new free trading
app against the other investing apps to show you exactly who should be using the new platform. So two reasons I use so many different investment
apps and platforms and the first is something I hinted at already. There is no single best investment app out
there that does everything for every investor. That goes for the free investment apps like
Robinhood, Acorns and M1 Finance. It goes for the old school investing sites
like ETrade and it goes for the brokers like TD Ameritrade or Schwab. I’ve had an ETrade account since it was
Brown & Co in 2000 and benefit from the research on the platform but even at the legacy cost
of just $5 a trade, I’m losing money every time I buy and sell a stock. I’ve loved using the free investing apps
over the past year but they also lack some features I need. There’s no short-selling on M1 Finance and
you have to pay a premium to get it on Robinhood. You can’t trade after hours on either and
the charting is pretty much non-existent. It’s why I’ve been trying out the Webull
app over the past month and gotta say, I’m really impressed how much they packed into
a free app. This one is specifically for stock market
trading and includes a lot of features that I’ll get to next. The second reason I use so many investment
websites and apps…and you’re going to love this one even if you don’t need all
the features that come on different apps, is free promotions! The free stock, discounts and cash back you
get for opening a new investment account. With some sites, you’ll get cash back. Others will give you a free share of stock
or free trades. On the Webull app, you get a free share of
stock but unlike Robinhood that caps its free shares at $200, you can get shares on Webull
for up to $1,000 including shares of Apple and Tesla! So I want to review Webull and compare some
of the features against what I’ve found on other investing sites like Robinhood and
M1 Finance. First though, I want to get your feedback. What do you look for in an investing app? What features mean the most for you and which
do you use. Scroll down and let us know in the comments
below. Now I want to do a quick Webull review and
highlight the differences here with other free investing apps. Like most of the apps I’ve used, you pay
no commissions to buy or sell stocks, you get full access to stocks, exchange traded
funds and foreign stocks and options investing is coming soon. But where I think a lot of investors, especially
ones looking for stock market trading, are going to like it is in some of the extra features. One of the first things that attracted me
to Webull was the free stock offer. What can I say, I like free stuff! The program works a little different than
the one on Robinhood. On Webull, you open an account and deposit
your first $100 to get your free share but instead of being capped at $200, you can get
a free stock worth up to a thousand dollars. You can use the investment simulator, see
your watch list and alerts on both the desktop site and the mobile app but I feel like the
mobile app has a little smoother function so I’ll go into my smartphone to show you
around. The clunkiness of the desktop site probably
isn’t that big a deal. Maybe more of a pain for us old timers but
the app is really easy to use. There are no minimums to open an account though
you will need to deposit $100 into your account to get that free share of stock. Opening the app and the first thing you notice
is the advanced research and charting available. You get a complete newstream, quotes are available
for stocks in 90 countries and 100 global exchanges with real-time data for the US market. This is truly an app for stock traders and
serious investors. Something I rarely see even on the established
investing platforms is this IPO Center that shows you all the upcoming and filed IPOs
including the range for offering price and number of shares listed. Another great resource for traders, the Earnings
Center shows you the companies scheduled to report their numbers, the earnings estimate,
release date and these are all months in advance. I scrolled through and found companies reporting
more than eight weeks out in November. There’s a lot of market data here from Advancers/Decliners
to industries with big inflows and ETFs getting investor attention. All to the purpose of giving you as much information
as you need to trade stocks. Now those of you in the community know, I’m
not much of a stock trader. I like the buy-and-hold approach but even
I was drawn to one feature on the app, this Paper Trading function. The app gives you a million dollars to trade
virtually, testing out your strategies and ideas to see how they do before committing
real money. I’m testing out a few penny stocks I like,
following the trends before I decide if I want to invest. Within each stock, you get all the technical
charting and real-time news you need. You can see analyst recommendations, key fundamental
analysis and insider trading on the shares. Webull offers short-selling and up to four-times
margin trading on day trades on accounts over $2,000. Both of these features are still 100% commission-free. There’s no monthly subscription fee to trade
on margin like there is with Robinhood. Another big feature for stock traders is extended
hours trading, so investing in stocks before and after the rest of the market gets the
chance in public trading. Webull gives you access to trade from four
to 9:30 am and four to eight pm eastern standard time, before and after the market closes. Against all these features, there were some
things I didn’t like about the Webull app besides that lack of desktop function. There are no retirement account options yet
but are on the way. This was important to me when I set up our
2019 Stock Market Challenge portfolio to save money on taxes in dividend stocks. The app also takes a while to find yourself
around. There’s just so much loaded on it that you
really do need the tutorial emails sent out by Webull after you open an account. Now I want to compare the free investing apps
head-to-head, starting with Webull versus Robinhood. Versus Robinhood, Webull seems more equipped
for traders with the advanced charting and extended hours trading. There’s no additional fee for short-selling
or margin accounts though you’ll still pay the normal margin interest on leverage and
occasionally a stock borrowing fee but this is going to be on any platform you use shorting
or margin. Now one thing that sets Webull apart and I
love this feature, that ability to test new strategies in the stock simulator. Robinhood seems more like a buy-and-hold platform
and I do like that it has a desktop option available. I’m an old-timer and doing everything on
my phone still feels a little odd. Robinhood doesn’t include nearly the features
or research as Webull but it is a little easier to use, like there’s so much on Webull that
it takes a bit to get used to. In fact, Webull sends out an email series
explaining all the features over a week or two after you open an account. Now let’s compare Webull vs M1 Finance,
the first free investment app I started using. I’m not trading in my M1 Finance account. I love the portfolio perspective and automatic
reinvesting across all the stocks in my portfolio. I use the retirement account for our 2019
Dividend Challenge portfolio so we save money on taxes. Webull and Robinhood are more similar but
I feel like Webull and M1 Finance are for completely different types of investors. The once-daily trading window makes it impossible
to trade stocks on M1 Finance and that’s really the core of Webull. You get more order types and that extended
hours trading which is unheard of on most platforms. Comparing the free investment apps, there’s
some overlap but you immediately see the differences and where each comes out ahead. Traders and investors interested in trying
out new strategies will appreciate features like extended hours trading and the simulator
on Webull. Long-term investors will like the simplicity
of M1 Finance and the recommended portfolios pre-built in the platform. Don’t forget to claim your free share of
stock by opening an account on Webull by clicking on the link in the description below and try
out their virtual investing platform. Join the Let’s Talk Money community by tapping
that subscribe button and clicking the bell notification.

21 Comments

  • Let's Talk Money! with Joseph Hogue, CFA

    Check out those new features like the stock simulator and extended hours trading on Webull 😮 …and get your FREE share of stock up to $1000! https://mystockmarketbasics.com/webull

  • Greg Kamei

    Thanks for the comparative review of the three apps. With the major brokerages going to zero commissions, I don't feel inclined to look further. M1 does distinguish itself with its DCA-oriented approach to long-term investing.

  • Rick Lenegan

    I've been intending to look into WeBull. Thanks for your intro. When they set up the retirement accounts I'll give it a hard consideration.

  • Financial Foundations

    I use all 3 as well. M1 for both a Roth IRA and taxable account, Robinhood is where i got started, and Webull for swing trading.

  • RhinoCable

    When you use M1 as a retirement account to save on taxes is it a Roth IRA if not does it count towards the yearly funding limit since its a retirement account?
    As always thanks for sharing.

  • G.E. Stroud

    I've become an investing app junkie and blame it all on you. 😄

    Robinhood for dividend stocks under $5.

    Webull for $5-10 stocks since they don't have fractional shares. Would be nice if they had retirement accounts.

    TD Ameritrade for $10-20, especially since the zero commission announcement. They also have retirement accounts.

    M1 for the fractional shares, zero commission and retirement accounts.

    Stash for fractional shares. I'm using this because I maxed out the number of shares allowed on M1.

  • Agent_WestCoast A

    Fidelity and Charles Schwab meets all needs in one platform, except for fractional shares purchases on stocks. Even that, CS is jumping into fractional shares purchases for stocks soon.

    I do like M1 Finance though.

  • Dr. W.H. Ale

    Personally, I use Robinhood. But when I'm buying and selling, I open it up on my computer along with Yahoo finance, morning star and a Fidleity screener. So it doesn't really matter what each individual app offers as far as data. As long as I can trade for free, I'm all for it.

  • Mark Emery

    If you have $50,000 or more to invest, you can get 300 FREE trades with Fidelity and have 2 years to use them. In addition, your money will earn 1.89% in your account while you determine what stocks, bonds, or reit's you want to buy. Fidelity BLOWS AWAY Webull, Robinhood, and M1 Finance with Tools, Features, and Research. If you don't have $50,000 or more to invest, go with TD Ameritrade. They are now commission free, and they BLOW AWAY Webull, Robinhood, and M1 Finance with Tools, Features, and Research.

  • GenExDividendInvestor

    Thanks, I always appreciate reviews like this. I’m glad that etrade doesn’t have buy/sell fees anymore. It looks like the big boys are starting to offer the ability to buy fractional shares.. so hopefully all of them will follow that trend like they just did for fees. Gonna make it harder and harder for the smaller & newer brokers to flourish.

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