Interactive Brokers vs Webull
Business model, scale, and a side-by-side Litmus framework score — which model wins, and for whom.
IBKR is the global pro/institutional standard; Webull is the mobile-first power-retail challenger.
At a glance
| Metric | Interactive Brokers | Webull |
|---|---|---|
| Revenue | $6.2B (FY2025) | $571M (FY2025, +46% YoY) |
| Profit | ~$4.4B net income (FY2025) | Profitable |
| Active users | 4.1M+ accounts | 26.8M registered; 5.03M funded accounts |
| Employees | ~3,000 | 1,000+ |
| Founded | 1978 | 2017 |
| HQ | Greenwich, Connecticut | St. Petersburg, FL / New York, NY |
LLitmus Framework Score
Overall: Interactive Brokers 91 · Webull 89
Customer Segment
90
95
Value Proposition
95
93
Marketing Channel
80
91
Engagement
91
96
Income Source
98
84
Asset Validation
93
90
Core Operations
91
87
Strategic Alliance
81
82
Expense Validation
96
85
Interactive Brokers leads 5 modules, Webull leads 4. Overall edge: Interactive Brokers.
Head to head
| Dimension | Interactive Brokers | Webull |
|---|---|---|
| Audience | Professional & institutional traders | Advanced retail, mobile-first |
| Market access | 150+ markets worldwide | US equities focus, growing global |
| Revenue model | Commissions + heavy net interest income | PFOF + margin + data subs |
| PFOF | IBKR Pro avoids PFOF | Yes (~45% of revenue) |
FAQ
Is Interactive Brokers or Webull a better business?
IBKR is the global pro/institutional standard; Webull is the mobile-first power-retail challenger. It depends on what you optimise for — see the module-by-module breakdown above.
What is the difference between Interactive Brokers and Webull's business model?
Interactive Brokers operates in Fintech (The Professional's Gateway to the World's Markets), while Webull is Fintech / Brokerage (Enjoy tech. Enjoy investing.). Their revenue, scale and Litmus scores are compared in detail above.
Which is more profitable, Interactive Brokers or Webull?
Interactive Brokers: ~$4.4B net income (FY2025). Webull: Profitable.