Searching for TD Ameritrade vs Webull in 2026 brings up an important change immediately: you can no longer open or maintain a standalone TD Ameritrade brokerage account. Charles Schwab completed the conversion of the final Ameritrade client group in May 2024. Former TD Ameritrade clients now use Schwab, while the popular thinkorswim trading platform continues under Schwab.
That makes a current comparison different from older reviews. Instead of choosing between two active TD Ameritrade and Webull platforms, you are effectively comparing Webull with Charles Schwab and several features inherited from TD Ameritrade.
Both brokerage choices support commission-free online trading of eligible U.S.-listed stocks and ETFs. Their differences become clearer when you look at options pricing, investment selection, trading technology, fractional shares, crypto, and account choices.
TD Ameritrade vs Webull: What Happened to TD Ameritrade?
Charles Schwab acquired TD Ameritrade and completed the final client account conversion in May 2024. Former TD Ameritrade accounts were transferred to Schwab, ending TD Ameritrade's role as an independent brokerage choice.
Schwab retained one of TD Ameritrade's best-known products: thinkorswim. Schwab clients can access its desktop, web, and mobile platforms without an additional platform charge. Standard trading charges still apply.
This distinction matters when researching Webull vs TD Ameritrade. Many older comparisons describe features and pricing from a brokerage that no longer accepts customers independently.
For someone researching TD Ameritrade alternatives, Charles Schwab is particularly relevant because former Ameritrade accounts and several Ameritrade trading capabilities moved there.
Schwab and Webull at a Glance
| Feature | Charles Schwab | Webull |
|---|---|---|
| Online U.S.-listed stock trades | $0 commission | $0 commission |
| Online ETF trades | $0 on eligible listed ETFs | $0 commission |
| Standard equity options | $0.65 per contract | $0 contract fee |
| Fractional shares | Available | Available |
| Futures | Available | Available |
| Fixed income | Available | Available |
| Mutual funds | Available | Available in eligible Webull IRAs |
| Crypto | Schwab Crypto announced as coming soon | Crypto trading available through Webull Pay |
| Paper trading | Available | Available |
| IRA accounts | Available | Traditional, Roth, and Rollover IRAs |
Regulatory, exchange, fund, contract, service, and other charges can still apply even when a brokerage advertises $0 commissions.
Trading Costs: How Schwab and Webull Compare
Cost is one of the clearest differences in a current Charles Schwab vs Webull comparison.
Schwab charges $0 online commissions for listed stocks and ETFs. Standard online options trades carry no base commission, followed by a $0.65 fee for each options contract. Schwab lists futures pricing at $2.25 per contract, excluding applicable exchange and regulatory charges.
Webull also advertises $0 commissions for eligible U.S.-listed stocks, ETFs, and stock and ETF options. Its current pricing states that stock and ETF options have $0 contract fees. Certain index options carry a separate contract charge, and regulatory or exchange charges may apply.
Why Options Pricing Matters
Someone placing occasional options trades might see a relatively small dollar difference. An active options trader handling many contracts could see contract pricing have a larger effect on total trading expenses.
Still, transaction price should not be the only factor. Execution, research tools, available securities, account structure, customer service, and trading functionality can affect the practical value of a brokerage.
Trading Platforms and Research Tools
Schwab inherited TD Ameritrade's well-known trading technology. Its current platform lineup includes Schwab.com, Schwab Mobile, and the thinkorswim desktop, web, and mobile platforms.
The platform supports advanced charting, technical analysis, paperMoney simulated trading, and extended trading access. Schwab currently states that 24/5 trading is available on over 1,300 securities.
Webull takes a trading-focused approach across mobile, desktop, and web interfaces. Its platform includes customizable charts, screening tools, options analytics, market data, paper trading, and extended-hours access for eligible securities.
Your preference may depend on how you trade. Traders who previously relied heavily on TD Ameritrade's desktop technology can still access its best-known platform through Schwab. Traders focused on a digital-first interface may find Webull's platform structure appealing.
Investment Selection Has Changed
Older comparisons often state that Webull lacks several investment categories. That information can now be outdated.
Webull currently lists stocks, ETFs, options, futures, OTC securities, fixed-income products, money market funds, and other investment products. Its mutual fund program currently supports eligible funds through Webull IRAs.
Schwab supports stocks, ETFs, options, mutual funds, bonds, futures, and forex, giving investors access to several asset categories under one brokerage relationship.
The right investment selection depends heavily on the securities you plan to trade. Checking the brokerage's current product list before opening an account can prevent problems later.
Fractional Shares Are Available Through Both Platforms
Another outdated claim found in older comparisons concerns fractional shares.
Schwab currently permits fractional investments in most U.S.-listed stocks and ETFs, with eligible purchases starting at $1.
Webull also supports fractional stock investing. Its current stock information states that eligible fractional investments can begin at $1.
Fractional investing can be useful when a stock's share price exceeds the amount you want to invest. Instead of purchasing a full share, you can allocate a specific dollar amount to an eligible security.
Webull Has an Edge for Currently Available Crypto Trading
Cryptocurrency creates a significant distinction.
Webull currently provides cryptocurrency trading through Webull Pay LLC. Eligible U.S. customers can buy, sell, and hold supported digital assets such as Bitcoin, Ethereum, and Solana through the Webull app.
Schwab has announced Schwab Crypto, with Bitcoin and Ethereum trading planned through Charles Schwab Premier Bank. Its current thinkorswim page describes the service as coming soon.
Crypto carries substantial risk, and digital assets may have protections that differ from traditional brokerage securities. Anyone using crypto access as a deciding factor should review custody, fees, spreads, asset availability, and applicable protections.
Account Types
Webull's account selection has expanded significantly.
Its current account lineup includes individual cash and margin accounts, Traditional IRAs, Roth IRAs, Rollover IRAs, joint accounts, custodial accounts, futures accounts, entity accounts, advisor accounts, and crypto accounts.
Schwab provides standard brokerage accounts alongside retirement, custodial, trust, education, and other specialized account structures.
Investors managing several financial goals under one institution may place greater weight on account availability than traders primarily using an individual taxable brokerage account.
Webull Fees Beyond Advertised $0 Commissions
A proper Webull review needs to separate commissions from total trading costs.
Webull advertises zero commissions on eligible U.S.-listed stocks, ETFs, and stock and ETF options. Certain index options carry contract charges, while regulatory and exchange fees can apply to eligible transactions.
Margin borrowing carries interest as well. Costs tied to transfers, market data, specific securities, or account activity can vary.
Schwab has similar distinctions. Its $0 online commission applies to eligible listed stocks and ETFs, while options contracts, futures, broker-assisted transactions, certain mutual funds, fixed-income transactions, and other services can carry charges.
Checking each broker's current pricing schedule is safer than assuming "$0 commission" means every transaction is free.
Pros and Cons of Schwab After TD Ameritrade
Potential Advantages
- Access to the former TD Ameritrade thinkorswim platform
- $0 online commissions for listed stocks and ETFs
- Broad investment selection
- Mutual funds, bonds, futures, and forex access
- Fractional stock and ETF investing
- Multiple brokerage and retirement account structures
- Physical branch locations and phone support
Potential Limitations
- Standard options contracts generally cost $0.65 each
- Former TD Ameritrade customers now operate within Schwab
- Some investments and services carry separate transaction charges
- The advanced trading platform can take time to learn
Pros and Cons of Webull
Potential Advantages
- $0 commissions on eligible U.S.-listed stocks and ETFs
- $0 contract fees on eligible stock and ETF options
- Fractional share investing
- Advanced charting and trading functions
- Paper trading
- Direct crypto access through Webull Pay
- Futures and fixed-income products are now available
Potential Limitations
- Some index options carry contract charges
- Regulatory and exchange fees may still apply
- Mutual fund availability currently has account restrictions
- Crypto assets involve separate risks and protections
- Investors seeking extensive in-person assistance may prefer a brokerage with branches
Which Platform Fits Different Trading Needs?
The answer depends on the type of account and investments you plan to use.
Schwab may fit investors who want broad investment access, physical branches, retirement and specialized accounts, extensive research, or continued access to the former TD Ameritrade trading platform.
Webull may fit active traders seeking $0 contract fees on eligible stock and ETF options, fractional investing, direct crypto access, and a trading-focused digital platform.
Neither platform eliminates investment risk. Fees can also change, so current pricing schedules should be checked before funding an account.
Frequently Asked Questions
Can you still open a TD Ameritrade account?
No. TD Ameritrade accounts were migrated to Charles Schwab, with the final client conversion completed in May 2024. New investors seeking the successor platform should look at Charles Schwab.
Does TD Ameritrade still exist as a brokerage?
TD Ameritrade no longer operates as the independent brokerage described in older comparison articles. Schwab's 2024 annual report states that TD Ameritrade and TD Ameritrade Clearing were no longer registered as broker-dealers with the SEC and FINRA as of December 31, 2024.
Is thinkorswim still available?
Yes. Schwab currently provides thinkorswim desktop, web, and mobile access to Schwab brokerage clients without a separate platform charge. Normal transaction pricing still applies.
Does Webull charge commissions?
Webull currently advertises $0 commissions for eligible U.S.-listed stocks, ETFs, and stock and ETF options. Certain products, including some index options, have separate charges. Regulatory and exchange fees may apply.
Does Webull support fractional shares?
Yes. Webull currently supports eligible fractional stock investments starting at $1.
Can you trade cryptocurrency through Webull?
Yes. Eligible U.S. customers can trade supported cryptocurrencies through Webull Pay, with access integrated into the Webull app.
Which Brokerage Fits Your Trading Needs?
A modern TD Ameritrade vs Webull comparison is effectively a look at Webull against the Schwab platform that absorbed TD Ameritrade.
Schwab retains thinkorswim while providing a broad selection of investments, account structures, research resources, and support channels. Webull provides a digital trading platform with fractional shares, eligible stock and ETF options carrying $0 contract fees, futures, fixed income, and direct cryptocurrency access through Webull Pay.
The better fit depends on the investments you plan to hold, the trading tools you use, your preferred account structure, and the fees generated by your trading activity. Checking the latest fee schedules and product eligibility before opening or transferring an account can help you compare the platforms using the features that matter for your strategy.
