Updated: February 23, 2021 by FinPins
Which is The Best Investment App Available Today?
The way people invest in the market has changed dramatically over the past few years. Since Robinhood launched its app in March 2015, hundreds of thousands of millennials signed up for accounts started investing via the app. It started a revolution and has changed the perception of investing – the broker commissions have gone down to $0, the account minimums have gone down to $0, allowing more and more people to get on board and start investing. Which is the best investment app for beginners? Which investing app is best for analytical investors? Can you buy partial shares on Robinhood and Webull and M1 Finance? We will go through all these important considerations in this article.
Here we are comparing three popular investment apps – Robinhood, M1 Finance, and Webull feature by feature so you can decide which one is best for you (or you can open accounts with all three!). For the purpose of this article, we are comparing to find the best investment app with minimal or zero commissions on trade.
Best Investment App Comparison: Robinhood vs M1 Finance vs WeBull
1. Where are these investment apps Robinhood, M1, Webull available?
- Robinhood: Available on iOS devices (Apple iPhones), Android devices, and web browsers.
- M1 Finance: Available on iOS devices (Apple iPhones), Android devices, and web browsers.
- WeBull: Available on iOS devices (Apple iPhones), Android devices, and web browsers.
2. Can you trade all US stocks on these apps?
- Robinhood: Yes, most US stocks can be traded on Robinhood.
- M1 Finance: Yes, most US stocks can be traded on M1 Finance.
- WeBull: Most US stocks can be traded on WeBull.
3. Can you ‘short sell’ stocks on Robinhood, M1 and WeBull?
- Robinhood: No, short selling is not available on Robinhood.
- M1 Finance: No, short selling is not available on M1 Finance.
- WeBull: Yes, WeBull allows qualified users to short sell stocks. However, the investor must fully understand short-selling to avoid making costly mistakes.
4. Are Exchange Traded Funds (ETFs) available on Robinhood, M1 and WeBull?
- Robinhood: Yes, most ETFs are available on Robinhood.
- M1 Finance: Yes, most ETFs are available on M1 Finance.
- WeBull: Most ETFs are available on WeBull.
ETF Investing is available on all three apps: Robinhood, M1 Finance and WeBull
5. Can you Automatically Reinvest the Dividends on Robinhood, M1 and WeBull?
- Robinhood: Yes, Robinhood allows automatic reinvestment of dividends.
- M1 Finance: Yes, M1 finance allows automatic reinvestment of dividends.
- WeBull: No, as of writing this article, WeBull does not allow automatic reinvestment of dividends.
6. Can you Buy Fractional Shares on Robinhood, M1 and WeBull?
- Robinhood: Yes, Robinhood allows users to buy fractional or partial shares, with as little as $1. (Read How to buy partial shares on Robinhood)
- M1 Finance: Yes, M1 finance allows users to buy fractional or partial shares, with as little as $1. (Read How to invest $20 on M1 finance using pies)
- WeBull: No, as of writing this article, WeBull does not allow users to buy partial shares.
Fractional Investing is available on M1 Finance by creating pies and portfolios
7. Are Cryptocurrencies such as Bitcoin, Ethereum, and Litecoin available on Robinhood, M1 and WeBull?
- Robinhood: Yes, you can buy Bitcoin, Litecoin and Ethereum on Robinhood (though some state residents cannot buy crptocurrencies on Robinhood).
- M1 Finance: No, M1 Finance doesn’t allow users to buy cryptocurrencies.
- WeBull: Yes, WeBull now allows users to buy cryptocurrencies. [Earlier, WeBull had been providing only price data and trends on Bitcoin, Ethereum, Litecoin and other cryptocurrencies.] [updated Nov 19, 2020]
Cryptocurrency trading is available on Robinhood and WeBull
8. Is Options Trading available on Robinhood, M1 and WeBull?
- Robinhood: Yes, Option trading is available on Robinhood.
- M1 Finance: No, Option trading is not available on M1 finance.
- WeBull: Yes, Option trading is available on WeBull.
Options Trading on Robinhood and WeBull
Options Trading Levels and steps explained on WeBull app
9. The Best Investment Apps Should Have Great Analytics Available. Is good analytics available on the Robinhood, M1 and WeBull apps?
- Robinhood: Analytics on Robinhood is pretty standard.
- M1 Finance: Analytics on M1 is pretty standard.
- WeBull: WeBull offers great analytics such as analyst price targets, return on equity, return on assets, net income, earnings per share, short interest etc.
WeBull Analytics- clearly a winner among the three apps compared.
1. Analyst rating and Price Targets on WeBull
2. Position Cost Distribution on WeBull
3. Short Interest on WeBull
4. Key Indicators such as ROE, ROA, EPS, Net Margin on WeBull
5. Important financials such as Net Income, EPS for the last few quarters on WeBull
6. Stock Price Support and Resistance levels on WeBull
10. Do the apps have a Stock Screener?
Among the three apps, only WeBull has a stock screener that gives a good range of screening options such as market cap, PE ratio, ROE, Dividends etc.
WeBull Stock Screener feature – great for people who want to apply filters to narrow their stock search.
10. Can you schedule your investments automatically?
Robinhood and M1 Finance have an automatic investment feature, whereas WeBull does not have an automatic investment feature yet.
Comparison Table: Robinhood vs M1 Finance vs WeBull
|App available on platforms||iOS, Android, Web||iOS, Android, Web||iOS, Android, Web|
|Dividend Reinvestment Plan (DRIP)||Yes||Yes||No|
|Fractional Shares||Yes, min $1||Yes, min $1||No|
|Cryptocurrency Trading||Yes (BTC, LTC, ETH and a few others)||No||Yes (BTC, LTC, ETH and a few others)|
|Minimum Balance to open account||$0||$0||$0|
|Portfolio management options||Standard||Advanced- has a feature to build custom 'pies'||Standard|
|Analytics||Standard||Standard||Advanced, includes a simulator|
|Stock Screener||Not available||Not available||Available|
|Trading Window||Market hours and after-hours||Once per day on free account, Twice on M1 Plus||Market hours and after-hours|
|Earn Interest on spare cash?||Yes||Yes, through M1 Spend||No|
|$0 Commission trading*||Yes||Yes||Yes|
|Upgrades||GOLD (access to more research and after-hours trading)||M1 Plus (+1 daily trading window, better rates on borrowing and spending money)||Advanced Quotes (Level 2 data on international exchanges etc.)|
* Even on $0 commission brokerage accounts, other fees may apply, please read fee disclosures for details.
To Summarize, Here Are The Key Features:
- Robinhood: Cryptocurrencies + Stocks + Options + ETFs + aftermarket trading + Partial Shares
- M1 Finance: Stocks + ETFs + great portfolio building features using pies
- WeBull: Cryptocurrencies + Stocks + ETFs + Options + Good Analytics + Simulator [updated Nov 19, 2020]
- Extended Hours Trading
- Partial Shares
- great portfolio building features using pies
- Good Analytics
- Extended Hours Trading
Conclusion: Which is the best investment app among Robinhood, Webull and M1 Finance?
It depends! All three apps have some unique features that we love –
- Robinhood for the simplicity of trading stocks, partial shares, ETFs, options, and cryptocurrencies in one place,
- M1 Finance for the ability to create custom pies and portfolios, partial shares,
- and WeBull for trading stocks, ETFs, options, cryptocurrencies, stock screening feature and exceptional analytics.
It’s a difficult choice to pick just one among all three. The good news is you can open an account with all three because they have $0 account minimums!
Need help getting started with stocks? Check this out.
[update Jan 2021: Some apps, Robinhood included, chose to restrict buying activity on some volatile stocks (GME, BB, AMC among others) starting Jan 28, 2021. Robinhood has explained their viewpoint, but many investors view this act of limiting buying as unethical and even illegal. We want you to be aware of this while you decide which apps to pick for your investments and trades]
Bonus: Discover Some Cool Features of WeBull
WeBull has Stock Lending Program: Make Extra Income
You can earn extra income from the stocks you fully own (paid fully in cash). You can lend out these stocks to WeBull and earn some interest money for lending the stocks.
There is no special requirement to participate in the stock lending program and no restrictions on selling the stocks. Understandably, when you sell the stocks the ‘loan’ gets terminated.
WeBull has Paper Trading Account: Trade Without Money Risks
When you want to feel the thrill of placing bets but don’t want to risk any money, paper trading is perfect for you. The good news is you can learn and avoid losing money. The bad news is your gains are also not real!
Trade Risk Free with Paper Trading Account on WeBull
WeBull has an IPO Center on the App
The IPO Center on the WeBull app has three sections – companies that have filed their IPOs (Initial Public Offerings), companies that are offering stocks that you can buy before they get listed on exchange for common trading, and companies that are already listed on exchanges (you can trade these stocks directly on the exchange)
Disclosure: We may earn commission (at no extra cost to you) if you use links on the page to open an account or make an investment. Promotion terms and validity maintained by respective platforms.
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