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Firstrade 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.
- Firstrade leads
- 1
- Webull leads
- 3
- Level
- 5
Of 9 scored facts, Firstrade leads on 1, Webull on 3, and 5 are level. Countries and the offer are not scored.
Head-to-head
The best value in each row is marked; rows where every broker matches carry no mark.| Fact |  Firstrade |  Webull |
|---|---|---|
| Fee per contract | $0 per contract | $0 per contract |
| Firstrade, Regulatory fees apply | Webull, Oversized and index orders cost extra | |
| Exercise and assignment | Free | Not published |
| Approval | Naked puts | Naked |
| Firstrade, 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 | No | No |
| Portfolio margin | Not published | Not published |
| Margin rate | 11.50% | 8.74%Best |
| Platforms | Web, Mobile | Web, Desktop, Mobile, APIBest |
| Paper trading | Not published | Yes |
| 24/7 support | YesBest | No |
| Countries | US persons, plus residents of 27 listed countries | US residents only (incl. accepted visa holders); SSN or ITIN and US address needed |
| QuantWheel | Not connected | Trade & SyncBest |
| 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.Firstrade$0 per contract · free exercise · naked puts
Firstrade opens options accounts for residents of the United States, the United Kingdom, Germany, Singapore, India and Mexico, among the 9 countries this directory covers. It charges $0 per contract (Regulatory fees apply). Exercise and assignment are free. It approves up to naked short puts, not naked calls. It trades on Web, Mobile. It is not connected to QuantWheel.
Webull$0 per contract · exercise fee not published · naked
Webull opens options accounts for residents of the United States only. 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.
- Firstrade$0.04 a trade, under 0.1% of your premium
- $3.67 a year
- Webull$0.07 a trade, under 0.1% of your premium, fee not published
- $7.07 a year
at least $3.40 a year less at Firstrade
Not counted because Firstrade does not publish them: clearing fee, FINRA trading activity fee, platform fee, inactivity fee. Not counted because Webull does not publish them: assignment fee, inactivity fee.
Estimates from published fees. Your broker statement can differ, and brokers change fees. A fee a broker does not publish is never counted as $0.
Questions people ask
Firstrade vs Webull