Robinhood vs Webull
Business model, scale, and a side-by-side Litmus framework score — which model wins, and for whom.
Robinhood wins on scale, brand, and recurring revenue; Webull wins with active traders who want advanced tools.
At a glance
| Metric | Robinhood | Webull |
|---|---|---|
| Revenue | $4.5B (FY2025); $1.07B in Q1 2026 | $571M (FY2025, +46% YoY) |
| Profit | $1.9B net income (FY2025); $346M in Q1'26 | Profitable |
| Active users | 27.4M funded customers | 26.8M registered; 5.03M funded accounts |
| Employees | ~3,800+ | 1,000+ |
| Founded | 2013 | 2017 |
| HQ | Menlo Park, USA | St. Petersburg, FL / New York, NY |
LLitmus Framework Score
Overall: Robinhood 82 · Webull 89
Customer Segment
88
95
Value Proposition
85
93
Marketing Channel
82
91
Engagement
80
96
Income Source
86
84
Asset Validation
83
90
Core Operations
78
87
Strategic Alliance
75
82
Expense Validation
84
85
Robinhood leads 1 module, Webull leads 8. Overall edge: Webull.
Head to head
| Dimension | Robinhood | Webull |
|---|---|---|
| Funded customers | 27.4M | Smaller, global base |
| Revenue model | NII + PFOF + Gold subscription | PFOF + interest, fewer subscriptions |
| Platform assets | $307B | Far smaller |
| Target user | Mainstream first-time investors | Active/technical traders |
| Profitability | $1.9B net income (FY2025) | Smaller, less disclosed |
FAQ
Is Robinhood or Webull a better business?
Robinhood wins on scale, brand, and recurring revenue; Webull wins with active traders who want advanced tools. It depends on what you optimise for — see the module-by-module breakdown above.
What is the difference between Robinhood and Webull's business model?
Robinhood operates in Fintech (Investing for Everyone), while Webull is Fintech / Brokerage (Enjoy tech. Enjoy investing.). Their revenue, scale and Litmus scores are compared in detail above.
Which is more profitable, Robinhood or Webull?
Robinhood: $1.9B net income (FY2025); $346M in Q1'26. Webull: Profitable.