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Fidelity vs Webull
The same facts side by side. Swap a broker from the menu under its logo; the best value in each row is marked.
- Fidelity leads
- 2
- Webull leads
- 4
- Level
- 3
Of 9 scored facts, Fidelity leads on 2, Webull on 4, and 3 are level. Countries and the offer are not scored.
Trade & Sync with QuantWheel
Your tradingabout $0.59 a monthabout $7.07 a yearAssignment and inactivity fees estimated.
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Up to three brokers, with a year of your trading at each
Head-to-head
The best value in each row is marked; rows where every broker matches carry no mark.| Fact |  Fidelity | Webull |
|---|---|---|
| Fee per contract | $0.65 per contract | $0 per contractBest |
| Fidelity, Buy to close at $0.65 or less costs $0 | Webull, Oversized and index orders cost extra | |
| Exercise and assignment | $0 | Not published |
| Approval | Naked | Naked |
| Fidelity, Up to naked short options | Webull, Up to naked short options | |
| 0DTE | Yes | Yes |
| Index options (SPX) | Yes | Yes |
| Options on futures | No | Not published |
| Spreads in an IRA | YesBest | No |
| Portfolio margin | Not published | Not published |
| Margin rate | 10.63% | 8.74%Best |
| Platforms | Web, Desktop, Mobile | Web, Desktop, Mobile, APIBest |
| Paper trading | Not published | Yes |
| 24/7 support | YesBest | No |
| Countries | US residents only | US residents only (incl. accepted visa holders); SSN or ITIN and US address needed |
| QuantWheel | Sync-only | Trade & SyncBest |
| Fidelity, Reads the account; you place the orders | Webull, Reads the account and places the orders you approve | |
| Offer |
Facts from each broker's fee schedule and options agreement, checked 8 October 2026. Best marks the lowest cost or the widest allowance in a row.
The two brokers
One paragraph each.Fidelity$0.65 per contract · $0 exercise and assignment · naked
Fidelity opens options accounts for residents of the United States only. It charges $0.65 per contract (Buy to close at $0.65 or less costs $0). Exercise and assignment cost $0. It approves up to naked short options. It trades on Web, Desktop, Mobile. QuantWheel syncs positions and trades from the account and suggests; you place the orders at the broker.
Webull$0 per contract · exercise fee not published · naked
Webull opens options accounts for residents of 8 of the 243 countries this directory covers, among them the United States, Brazil and Mexico. It charges $0 per contract (Oversized and index orders cost extra). It does not publish its exercise and assignment fees. It approves up to naked short options. It trades on Web, Desktop, Mobile, API. QuantWheel syncs positions and trades from the account and suggests; with Trade & Sync the orders you approve go to the broker from QuantWheel.
What each costs for the way you trade
A year of fees from each broker's published prices, checked 7 and 8 October 2026.
Fidelity
$0.72 a trade, 0.6% of your premium.
$5.77 a month$66 to $69 a year
Webull
about $0.07 a trade, under 0.1% of your premium. Assignment and inactivity fees estimated.
about $0.59 a monthabout $7.07 a year
Webull does not publish every fee this strategy needs, so no broker is named lowest here.
A year from each broker's published fees. A fee a broker leaves out is estimated at the middle of what the brokers that publish it charge, and that total says about. Your broker statement can differ, and brokers change fees.
Who each suits
Written from the facts on this page. Each feature needs the broker's approval and account rules.Fidelity suits a trader who wants spreads in an IRA, with a minimum balance, or phone support around the clock. Webull's IRAs go up to Level 2. Webull suits a trader who wants paper trading or an API. Both allow naked options with a minimum balance, offer a desktop platform and open accounts for US residents only. QuantWheel sends the orders you approve to Webull. With Fidelity, QuantWheel syncs your positions and you place the orders at Fidelity.
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Fidelity vs Webull