Even if you are new to Forex industry, you probably heard about such companies as DotBig LTD and Webull. These are well-established brokerages that appeal to wide audiences in 2022. If you want to figure out which choice will be more profitable for you, you’re in the right place. Here is a short comparison of online brokers DotBig and Webull.
Overall Comparison
| DotBig LTD | Webull | |
| Minimum deposit | $250 | $0 |
| Bonus | 10% welcome bonus | 5 free stocks for opening and funding a new account |
| Year of foundation | 2003 | 2017 |
| Tradable instruments | Currency pairsStocks CryptosCommodities Indices ETFs CFDs | StocksETFsOptionsADRs |
| Platforms | MT5, DotBig Web, Mobile | Mobile, desktop, and web |
| Payment services | Bank transfer Visa Mastercard Transferwise Skrill WebMoney PayPal Qiwi YooMoney | Bank transfer |
| Customer support | 24/5 | 24/7 |
Comparison of Brokers’ Commissions
Low costs are what usually attract new traders. Many beginners consider it necessary to find a broker that charges minimum commissions to avoid additional expenditures. To some extent, this is the right strategy especially for beginners, because the money that was once saved might be further used and converted into profits.
From this perspective, Webull is one of the best brokerages. The company doesn’t charge any trading fees. While there are a lot of brokers that don’t make clients pay fees for stock trades, there are a few that allow free options trades. Webull is one of those that do allow it.
With Webull, clients also cut operational spending. Webull’s minimum deposit is $0. There are no fees on deposits or inactivity fees, but the broker imposes a $75 commission for both full and partial transfers.
If you are choosing between these two brokers and low costs play a vital role for you, Webull is a better choice. Although DotBig doesn’t have commissions on deposits and fees for access to markets, it imposes other types of commissions:
- inactivity fee;
- a 3.5% commission for withdrawal;
- a €35 bank transfer fee;
- minimum deposit for a Standard account – $250.
Broker Comparison: Trading Conditions
Comparison of forex brokers must display how different trading conditions and tradable assets of brokers are.
| DotBig LTD | Webull | |
| Forex | 72 currency pairs | 11 currency pairs |
| Stocks | 244 stocks | Clients trade stocks of over 1,000 companies and also invest in fractional shares |
| Bonds | – | – |
| Cryptocurrencies | 650 cryptocurrencies | 56 cryptocurrencies |
| Commodities | 6 commodities with the 1:100 leverage | – |
| Indices | 13 | – |
| ETFs | Free ETF trades with 20 assets listed | Free ETF trades |
| CFDs | The possibility to invest in CFD assets | – |
| Mutual Funds | – | – |
| Options | – | Both single and multi-leg options are available |
| Futures | – | – |
Webull also lists ADRs. This means clients can invest their funds in foreign companies and diversify their portfolios. This will help to benefit from global opportunities. Of course, many may think that this is a very minimum amount of assets listed on Webull. But the number of stocks and shares is completely enough for casual traders to benefit from.
From the perspective of trading conditions, DotBig is a better option for forex trading. Although it doesn’t list options, it has many offerings that bring benefits. DotBig offers more assets in general and more currency pairs in particular. All assets on DotBig come with floating spreads and the leverage varies from 1:100 to 1:400.
One more good thing for investors is that DotBig offers venture investments. Clients can invest in some promising startups and take benefit from these projects’ success. This is a risky affair, but it’s worth trying because there are many young projects that have good prospects to become hits.
Broker Comparison: Platforms and Tools
With DotBig LTD you can trade through the well-known platform MetaTrader5. It features a lot of tools that are especially useful for analytical trading. You can trade via web platforms or mobile applications as well. They are designed by DotBig and operate such features as:
- online trading signals;
- charts;
- updated quotes;
- 50+ indicators;
- advanced screeners.
Webull also offers web, desktop, and mobile platforms. All the developments have robust trading tools, and charting tools and screeners are the most praised features. Webull is often criticized for the lack of training and educational support for beginners on the platforms. DotBig, on the other hand, offers social trading and demo accounts.
Which Broker is Better Overall?
DotBig is a much better choice for complete beginners. Webull cannot offer equivalent education and help to newbies. Nevertheless, it’s still a good option for traders with some experience. They don’t need to be professionals to do good analyses and research via Nasdaq TotalView, Thomson Reuters, and other third-party sources.
Overall, DotBig is better. Webull is a young company and it has a wide room for improvement.