Unpack the Power of Investing: A Dynamic Face-off Between Tornado and Webull Platforms.
Investing Platforms: Tornado vs. Webull Quick Comparison
Deciding on an investment platform can be a challenge with so many options available. Two new kids on the block are Tornado and Webull, and we’re here to compare them for you.
Tornado is a unique platform that entices new investors with its offer of up to $1,000 cash bonus to start investing when you create a new account. It got its feet wet in 2015 under the original name of Nvstr and has developed a unique niche in guiding users in their investment journey.
Its specialty: guiding its users in their investment journey. Instead of leaving you to make all decisions by yourself or solely relying on an automated system, it uses a blend of both approaches. This hybrid method helps beginners and casual investors in making balanced and informed investment decisions.
It also offers a ‘Learn and Earn’ scheme where you can make $50 by doing investment lessons. Plus, you can keep tabs on what the big investors are buying or selling from their mobile app.
Webull, a tad younger than Tornado, was born in 2017 and launched its app in 2018. It caters mostly to millennials, with its eye-catching offering of up to 12 free stocks for newbies who try out the platform. The versatility of Webull is seen in that it doesn’t just accommodate new traders but offers a gamut of services with no need for a minimum account balance and even commission-free trading in crypto and stocks.
Webull is more for the self-guided investor who prefers to make all their own decisions, as compared to Tornado.
Investment Fees and Bonus Offerings
If you fancy freebies, both platforms have something for you. Tornado gives a bonus of up to $1,000 to invest, while Webull offers up to 12 free stocks for new users.
As for account maintenance, Tornado charges a $7.99 monthly subscription fee, covering your first 40 trades each month, after which each trade costs $4.50.
Webull, on the other hand, allows you to trade with zero cost except for incidental charges like SEC transaction fees or regulatory costs.
Investment Options and Social Features
Both platforms allow investing in ETFs and US stocks. If you are keen to find out what others are investing in, Tornado offers a social networking feature that lets you see without revealing specific dollar amounts what other users are invested in and how they’ve diversified their portfolio.
On the topic of ease of use, Tornado and Webull both have user-friendly platforms, but Tornado stands out with its ability to create “ideas” to track potential investments you’re considering.
In conclusion, Tornado and Webull both have great offerings, but they target different kinds of investors. Tornado, with its social component and portfolio guidance features, seems more geared towards new or casual investors. In contrast, Webull, with its minimal cost model, may appeal to more experienced investors looking to keep costs down.
Now that you have a comparison, you’re better equipped to decide on the investment platform that suits your needs.
