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. 

MT4
  • Integrates with various brokers
  • Comprehensive analytical tools
  • Algo trading features
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WeBull
  • No options commissions
  • Paper trading features
  • Solid charting tools
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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.

MT4 Image

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.

WeBull Image

Key Characteristics of MT4 and WeBull

PlatformPlatform TypeTradeable AssetsCharting FeaturesDataPremium Pricing
MT4Charting and Trading SoftwareNot a brokerFree charting platformDepends on brokerFree, just connect a broker
WeBullBrokerage PlatformStocks, ETFs, Options, Index Options, CryptoDownloadable desktop platform, web app, and mobile appReal-time data with funded accountNo premium features

Trading Features and Tools

PlatformDRIPMargin TradingInsuranceMobile App
MT4Not a brokerNot a brokerNot a brokerYes
WeBullYes, no feesYesSIPC InsuredYes

Trading Costs and Commissions Compared

Fee TypeMT4WeBull
Equity CommissionNot a brokerFree
Option CommissionNot a broker$0, $0.55 per contract for index options
Futures CommissionNot a brokerNo futures
Futures Options CommissionNot a brokerNo futures options
Option Exercise FeeNot a brokerNone

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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