Free investing apps are coming out like crazy these days and there are two of them that you’ll hear about nonstop – Cash App vs Webull.
Which investing app is better? Is it Webull? Is it Cash App?
Well, that’s what we’re here to discuss!
You don’t want nasty commissions and account fees taking away from the passive income you’re trying to build, do you?
Of course not!
Anyway, both of these companies are legitimate companies and they are great
investing apps, so let’s get into the details and see if Cash App or Webull is right for you.
Which Free Investing App Is Better, Cash App or Webull?
Cash App is great if you’re just trying to casually invest because of it’s fractional shares and easy to use interface, and it’s also great if you don’t have a money transfer app yet or want to get rid of Venmo.
However, Webull is definitely a better investing app if you’re more serious about investing or if you’re trying to day-trade, BUT day-trading isn’t something everyone is interested in.
Remember, day-trading and investing are two VERY different things so don’t get them mixed up.
Here’s a great article that explains the difference between day-trading and investing.
If you want to read more about how we came to this conclusion, keep reading!
Cash App vs Webull: Simplicity
Having an easy to use investing app is really nice and no-one wants to deal with those apps that are too confusing for normal people to use.
So to keep it simple, let’s move right into discussing whether Cash App or Webull is easiest to use.
How easy is Cash App to use?
Every feature Cash App has is easy to use and easy to understand, which is refreshing in such a professional and seemingly complicated industry like financial technology(Fintech).
If you prefer everything to be simple and easy to use, you can’t really go wrong with Cash App.
How easy is Webull to use?
Webull isn’t exactly difficult, or hard to understand, but it isn’t quite as easy to us as Cash App. I wouldn’t let that stop you from downloading Webull though, because it’s still pretty easy to use.
Realistically, Cash App is just REALLY easy to use and there’s not anything Webull can do about it.
CashApp and Webull Services
When we give investment app services a rating, we take into account 2 main factors:
- The overall quality of the apps themselves
- The features each offers
Here is a list of the features each app has to offer you.
|Cash App Features||Free Account||Premium Account||Webull Features||Free Account||Premium Account|
|Monthly Fee||$0||N/A||Monthly Fee||$0||N/A|
|Minimum Balance||$0||N/A||Minimum Balance||$0 or $100 for deposit bonus||N/A|
|Instant Deposits||N/A||Instant Deposits||Partial||N/A|
|Automatic Deposits||N/A||Automatic Deposits||N/A|
|Fractional Shares||N/A||Fractional Shares||N/A|
|Mutual Funds||N/A||Mutual Funds||N/A|
|Paper Trading||N/A||Paper Trading||N/A|
|Margin Accounts||N/A||Margin Accounts||N/A|
|Retirement Accounts||N/A||Retirement Accounts||N/A|
|Banking Services||N/A||Banking Services||N/A|
|Human Advisors||N/A||Human Advisors||N/A|
|Robo Advisors||N/A||Robo Advisors||N/A|
|Stock Screeners||N/A||Stock Screeners||N/A|
|Level 2 Market Data||N/A||Level 2 Market Data|
|Other||Money Transfer||N/A||Other||Stock Lending||N/A|
Cash App vs Webull: Which app has the best service?
Cash App is a decent app but it just doesn’t offer the same amount of investing features as Webull.
Webull has a fair amount of features and a Stock Lending Program, which allows you to lend shares of stocks to Webull in exchange for a small interest payment, which IS pretty neat, but they really need to add fractional shares and a Dividend Re-Investment Plan.
Overall Webull’s service beats Cash App, so it wins in this category.
CashApp and Webull Sign-up and referral bonuses
Sign-up and referral bonuses might not be a huge deal to most people, but for some people, particularly referral marketers and affiliate marketers, these bonuses can be really important.
Even if you aren’t an affiliate marketer, referral bonuses can still help you get a few extra dollars on the side. Big companies will gladly pay you a few dollars for you to sign up to their service and try it.
We aren’t going to dive too deeply into that whole world in this article, so let’s compare the sign-up and referral bonuses for both Cash App and Webull, and see how they compete with each other.
Cash App sign up and referral bonuses and requirements
Cash App will give you (and me) both $5 when you sign up and send $5 to a friend within 14 days. It’s a little annoying getting people to sign up AND send the $5 but people still do it.
When you refer people to use Cash App, you’ll also receive $5 when they join and send their first $5 within 14 days.
This isn’t the most overwhelmingly lucrative affiliate program we’ve ever seen, but it’s not bad and the requirements are low.
Cash App will increase the referral bonus to $15 if you invite the person directly from your phone’s contact list, which allows you to make even more money, especially if you know a lot of open-minded people who are into that kind of thing.
Webull sign up and referral bonuses and requirements
Webull has been revamping their sign-up and referral programs recently but they are still the leader in the free investing app market, as far as these bonuses go anyway.
When you sign up for Webull you’ll receive a free share of stock worth between $2.50-$250 and Webull also awards new members a free share of stock valued between $12-$1400 when they sign-up and deposit $100 within the first 30 days.
Compared to investment apps like Robinhood, which give members a share that’s only worth between $2 and $250, this is a wonderful deal and a great incentive to get new users to join if you’re good at getting referrals.
When you refer other users who make a deposit of $100, you’ll receive 2 free shares of stocks worth between $12-$1400 each, which is a great deal for a referral bonus.
Webull also has the Webull Influencer Program, which allows you to choose between special referral rewards, some of which eliminate the requirement for an initial deposit by the new user, but the Webull Influencer Program requires you to bring in leads, or you’ll get kicked.
Their regular referral program fluxuates depending on the economy. When the economy is good, they’ll give affiliates shares of stocks when new users make ANY deposit, but when the economy is hurting they require a more substantial initial deposit.
Cash App Vs Webull: Best Sign-up and Referral Program
The Cash App Sign-up bonus is pretty decent, $5 adds up really fast, and even faster if you’re meeting the requirements to make $15 per referral. However, Webull easily has the best sign-up and referral programs in the industry, and Cash App’s $5 bonus just can’t compete here.
Webull changes their referral bonuses constantly, but they are usually VERY generous, often offering multiple shares of stocks for new users and the person who referred them.
Cash App and Webull Stock Research Tools
Having the proper tools for the job helps minimize the risk of failure in anything you do, so the tools you use, and the sources of information you use, should be chosen with care.
The financial decisions you make right now can, and will, impact the rest of your life, so it’s important to have the right tools so you can identify what’s going on effectively.
CashApp research tools
Cash App’s research tools leave a little to be desired, mostly because they made their entire app to be extremely simple, which means they didn’t include any fancy tools.
Cash App will basically tell you the bare minimum about a stock, so if you decide to use Cash App, make sure you do your research on a third-party site before investing.
You want to know exactly what you’re buying when you invest into a company, so do the research.
Webull stock research tools
Best Stock Research Tools: Cash App or Webull?
Webull definitely deserves to win this one because they did an excellent job with their stock research tools. You don’t really need all the different tools Webull offers, but some people prefer to use certain types of tools so having them available is really nice.
Most of the newer brokerages don’t offer decent tools, so it’s refreshing to see a company actually trying.
Thank you for reading our Cash App vs Webull investment app comparison!
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