MT4 vs. WeBull – A Detailed Comparison
Discover our detailed comparison of MT4 and WeBull to help determine which is best for you. Whether you’re a seasoned trader or just starting out, choosing the right platform can significantly impact your trading experience.
To make your research easier, we manually found key data for MT4 and WeBull across the internet and compiled it all in this article.
Overview of MT4
Meta Trader 4 (MT4) is a charting platform that is mostly used by Forex traders. You can also chart stocks and other assets depending on which broker you connect.
✓ Integrates with various brokers
✓ Comprehensive analytical tools
✓ Algo trading features
MT4 is Best For
MT4 is best for those who already have a broker tha is compatible with it. Otherwise, there are much better charting platforms like TradingView or TrendSpider.
Overview of WeBull
WeBull is a commission-free online brokerage founded in 2017, aiming to provide investors with an accessible and user-friendly platform for trading stocks, options, ETFs, and cryptocurrencies. It gained popularity for investors who wanted a simple options trading app like Robinhood, but with a bit more advanced features.
✓ No options commissions
✓ Paper trading features
✓ Solid charting tools
WeBull is Best For
WeBull is best for traders who want a relatively simple trading platform but still have access to some advanced charting features. It offers a downloadable desktop trading platform on top of its mobile app and WebTrade platform. Additionally, it allows you to trade options commission-free, and index options with much lower fees than other well-established brokerages.
Key Characteristics of MT4 and WeBull
| Platform | Platform Type | Tradeable Assets | Charting Features | Data | Premium Pricing |
|---|---|---|---|---|---|
| MT4 | Charting and Trading Software | Not a broker | Free charting platform | Depends on broker | Free, just connect a broker |
| WeBull | Brokerage Platform | Stocks, ETFs, Options, Index Options, Crypto | Downloadable desktop platform, web app, and mobile app | Real-time data with funded account | No premium features |
Trading Features and Tools
| Platform | DRIP | Margin Trading | Insurance | Mobile App |
|---|---|---|---|---|
| MT4 | Not a broker | Not a broker | Not a broker | Yes |
| WeBull | Yes, no fees | Yes | SIPC Insured | Yes |
Trading Costs and Commissions Compared
| Fee Type | MT4 | WeBull |
|---|---|---|
| Equity Commission | Not a broker | Free |
| Option Commission | Not a broker | $0, $0.55 per contract for index options |
| Futures Commission | Not a broker | No futures |
| Futures Options Commission | Not a broker | No futures options |
| Option Exercise Fee | Not a broker | None |
MT4 vs WeBull – Bottom Line
Choosing between MT4 and WeBull depends on your specific trading needs, preferred trading tools, and the type of assets you’re interested in.
Both platforms offer distinct advantages, but by considering the detailed comparison above, you can select the one that aligns best with your trading strategy and goals.
For more detailed reviews and comparisons, continue exploring our other articles on brokerage platform comparisons.
What is the Overall Best Charting Software?
I have reviewed and used nearly every trading platform available, and I believe that TradingView is the best overall charting software available. Here are some reasons why:
- All of TradingView’s key features are free to use
- TradingView provides real-time data for free whenever possible
- You are not tied to a single broker and can use whichever you want while charting on TradingView
- You can track all markets on a single platform, including stocks, ETFs, crypto, forex, and futures.
- TradingView has an excellent economic calendar and various screeners
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- Advanced Charts
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