Webull vs Pdax: Fees, Security, Features & Which to Choose (2025)

Trying to choose between Webull and Pdax This side-by-side comparison reveals total cost (fees + spreads), security & licenses, coins/derivatives, deposits/withdrawals, and app quality. In 2 minutes you’ll see who wins for beginners, active traders, and long-term holders. Clear pros/cons, a quick verdict, and safe links to get started.

Last updated on August 19, 2025

Webull

Pdax

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Available Countries

United States

Yes

Europe

Latin America

India

Yes

China

Yes

Canada

Yes

United Kingdom

Yes

United States

Europe

Latin America

India

China

Canada

United Kingdom

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Webull is ideal if:

Best for hands-on, self-directed traders who want a sleek mobile-first experience with powerful charting tools, paper trading, and streamlined technical analysis.
Great for active or intermediate investors who appreciate commission-free access to stocks, ETFs, options, fractional shares, and even crypto on a responsive multi-platform setup.
Suitable for those seeking simple automation, thanks to Webull’s beginner-friendly tools like Smart Advisor (robo-advisory service), recurring investments, and digital portfolio guidance.

Pdax is ideal if:

Locally integrated experience Enables seamless PHP deposits and withdrawals through banks and e-wallets, making it highly convenient for users in the Philippines.
Regulated and secure Operates under the supervision of the Bangko Sentral ng Pilipinas, with features like two-factor authentication and cold storage to protect your assets.
User-friendly and inclusive Offers an intuitive interface, low minimum deposits, and access to crypto, bonds, and collectibles—perfect for both beginners and everyday investors.

Webull isn’t ideal if:

Not great if you prefer mutual funds or bonds, since Webull doesn’t offer access to those traditional investment vehicles.
May overwhelm true beginners, as its platform leans heavily on technical tools and charting that can be complex for newcomers.
Limited customer support could frustrate you, especially if you expect fast, live assistance or chat options during crunch times.

Pdax isn’t ideal if:

Not ideal for advanced traders Lacks access to derivatives, margin trading, staking, or passive income tools—so seasoned traders may find its offerings too limited.
Highly localized to the Philippines Designed for Filipino residents with PHP-only support and local IDs, making it inconvenient for international users.
Potential technical hiccups Historical reports of service outages during peak activity suggest possible reliability concerns for time-sensitive trades.

Fees & Total Costs

Spot Maker/Take

Webull applies a built-in price markup (spread) for crypto trades rather than standard maker/taker fees, with no public volume-tier discounts or token-based rebates available on their platform.

Maker orders cost around 0.4 % while taker orders are about 0.5 %, and there are no volume-based discount tiers or native-token rebates.

Futures/Derivatives

For futures, Webull charges contract-based fees set by its exchange partners (like CME), and the platform does not publicly disclose maker/taker or funding-rate structures for these instruments.

PDAX currently does not offer derivatives or futures trading, so maker/taker fees and funding rates are not applicable.

Average Spreads on Liquid Pairs

Webull embeds typical spreads of around one percent on both buying and selling of major crypto trades, implicitly reflecting the cost rather than stating exact bid–ask spreads per pair.

Specific spread data isn’t publicly listed, though local liquidity suggests competitive spreads similar to other regional spot-only platforms.

Fiat Deposits & Withdrawals

Users can deposit or withdraw via ACH, which is free but slower, or via domestic/international wire transfers, which are faster yet incur modest fixed fees set by the clearing firm; timing varies from same-day up to several business days.

Fiat transactions are available via bank transfers, e-wallets, and over-the-counter options; PDAX itself charges little to no platform fee, though third-party processing fees may apply, and settlements typically complete within hours to a day.

On-chain Withdrawals

Webull currently does not support external crypto wallet transfers for most assets, so network and dynamic on-chain withdrawal fees do not apply for crypto; fiat wires are processed off-chain.

Withdrawal fees vary by cryptocurrency and blockchain—for example, BTC withdrawals cost around 0.0004 BTC, while other tokens each have set blockchain-based fee rates adjusted dynamically by network conditions.

Hidden Costs

Webull does not charge inactivity or maintenance fees. Currency conversion may occur at your bank when funding with a different base currency, and there are no added charges for expedited identity verification services.

There are no known inactivity or express KYC fees, but users should account for potential currency conversion charges and third-party processing fees that may not be explicitly itemized.

Real-World Cost Example: “€500 BTC

If you purchase €500 worth of Bitcoin, you’ll effectively pay a small percentage markup embedded in the trade price, then any fiat withdrawal back to your bank may incur a wire-transfer charge, while ACH withdrawal of fiat remains free.

If you were to convert €500 (equivalent to PHP), you’d incur roughly a 0.5 % trading fee plus any spread embedded in the quote, and then pay a blockchain withdrawal fee—like 0.0004 BTC—if you choose to withdraw, though exact totals depend on the real-time exchange rate and network conditions.

Crypto Offering & Trading Features

Number of Coins & Pairs

Webull supports trading in approximately 36 cryptocurrencies directly through its platform, offering a well-rounded selection of both major and niche tokens, though the top 20 by trading volume typically include dominant pairs like BTC, ETH, Litecoin, and Dogecoin.

PDAX offers over 64 cryptocurrencies overall, including the top 20 by volume—major names like BTC, ETH, USDT, USDC, BNB, SOL and ADA—paired primarily with PHP for easy access.

Product Range

Webull provides spot trading for cryptocurrencies, recently expanded into futures contracts (e.g. Bitcoin and Ethereum) via its partnership with Coinbase Derivatives, and offers staking and stablecoin rewards through Webull Pay powered by Coinbase’s infrastructure; crypto options, crypto ETFs, margin, copy trading, bots, and auto-DCA are not part of its current crypto menu.

The platform focuses on spot trading and also provides tokenized government bonds, collectibles, and access via an OTC desk for Prime users, but does not support margin, perps, options, ETFs, staking, lending, copy trading, grid bots, or automated DCA.

Liquidity

While Webull itself doesn’t publish specific 24-hour volumes or order book depth for its crypto pairs, the Coinbase infrastructure backing Webull Pay provides access to institutional-grade liquidity and tight spreads, implying solid depth for major pairs like BTC and ETH.

While exact 24-hour volumes and order-book depth data aren’t public, PDAX is known to maintain solid local liquidity, especially for major pairs like BTC/PHP and ETH/PHP, backed by visible order-book depth in Pro mode.

Tools

Webull offers advanced trading tools including limit and market orders, and robust charting features across mobile and desktop (akin to TradingView-level interactivity), plus customizable alerts; however, advanced order types like OCO (one-cancels-other), public API/WS for crypto, and native TradingView integrations are not currently available.

PDAX supports basic tools such as limit, market, and stop-limit orders, Pro mode with order book and depth chart, advanced TradingView charts (with indicators like RSI and MACD), and offers API/WebSocket access for developers.

Geographic Restrictions by Product

Crypto trading on Webull is seamless in most U.S. states, but there are regional exceptions—for instance, New York residents are limited to trading a narrower set of tokens; futures and expanded crypto offerings are currently available only to U.S. users, with global rollout in progress.

All trading services, including spot markets, are strictly limited to the Philippines—there is no availability for residents elsewhere, and derivative products are not offered in any region.

Innovation

While Webull doesn’t currently offer launchpad or launchpool events, it’s innovating in crypto yield products—through Webull Pay, users will soon access staking and USDC-based reward programs (with flexible terms) thanks to its Coinbase partnership, though locked-term options have not been specified.

PDAX includes features like an OTC Prime trading desk for institutional-level access, tokenized “Hold & Earn” bonds, and collectible offerings, but does not currently feature launchpads, launchpools, or flexible vs locked earn programs.

Security, Regulation & Custody

Operating Entity & Jurisdiction

Webull was founded in 2016 under a Chinese holding, with Webull Financial LLC established in Delaware in 2017, turning into a U.S.-based broker-dealer licensed by the SEC and FINRA by 2018, while Webull Corporation now sits as the Cayman-Islands-registered parent headquartered in Florida.

Operated by Philippine Digital Asset Exchange, Inc., founded in 2017 and headquartered in Taguig (Greater Metro Manila), the platform is incorporated under Philippine law.

Licenses/Registration

Webull operates under top-tier U.S. oversight (SEC, FINRA) with requirements for client fund segregation, though it does not publicly present itself as a VASP under MiCA or equivalent global crypto licensing frameworks at this time.

PDAX is licensed by and fully compliant with the Bangko Sentral ng Pilipinas as a virtual currency exchange, operating under BSP Circular guidelines.

Custody

Custody for crypto on Webull is handled through Coinbase’s Crypto-as-a-Service, leveraging institutional-grade security with encrypted systems and offline cold storage; there’s no public disclosure of proof of reserves, audit reports, or a cold-storage percentage.

PDAX uses custodial wallets (holding private keys for users), and while there’s no public proof-of-reserves or audit reports, they emphasize internal security protocols for asset protection.

Insurance & Protection Funds

Securities and cash in Webull Financial LLC accounts are SIPC-protected up to standard limits, with excess SIPC insurance via Lloyd’s of London or clearing firm Apex, but no specialized insurance for digital asset holdings.

Digital assets on PDAX are not insured under any deposit protection scheme, as crypto holdings are not classified as insured deposits by Philippine regulators.

Incident History

Webull has not been involved in major crypto-exchange hacks; however, it has faced regulatory scrutiny such as a $3 million FINRA fine in 2023 over customer complaint handling and due diligence lapses, along with multi-state probes and a state-device ban in Tennessee due to concerns over ties to China.

There are no publicly known major hacks, platform-wide freezes, or regulatory penalties affecting PDAX.

Risk Controls

Webull enforces industry standard safeguards like 2FA, encryption, and internal controls, with account security layers in place; however, advanced crypto-specific features like whitelists, sub-accounts, anti-phishing tools, or granular API permissions are not prominently available.

The platform supports strong security features such as two-factor authentication, anti-phishing measures, and a dedicated risk and compliance team to enforce AML and safeguard operations.

Transparency

Webull does not currently publish monthly custody or audit reports, nor a publicly visible wallet or balance sheet for crypto assets, and service-level agreements (SLAs) for uptime or asset availability aren’t publicly disclosed.

PDAX does not currently publish monthly proof-of-reserve reports or maintain publicly visible wallets, though they do communicate via their Help Center and Learning Hub on security topics.

Deposits, Withdrawals, KYC & Support

Fiat Deposit Methods

Webull supports funding via ACH transfers—free, with up to $50,000 per deposit and settlement in 3–5 business days, allowing around $1,000 of immediate purchasing power; wire transfers (domestic/international) are available with faster settlement (1–2 days for domestic, up to 5 for foreign), no formal deposit limits, and costs handled by the sending bank.

Deposits in PHP are available via bank transfers, e-wallets, online channels, and OTC partners; minimums and fees vary by channel, and processing times range from near-instant to a few hours or up to a day depending on method.

Supported Fiat Currencies & Conversion

KYC (Verification Levels)

Webull requires standard identity verification upon account opening (name, bank linkage) and performs additional steps like micro-deposits through Plaid when needed; it does not advertise multiple KYC tiers or specific deposit/withdrawal limits tied to verification levels.

PDAX offers four account tiers—Basic, Verified, Premium, and Prime—with escalating daily, monthly, and annual transaction limits tied to each level.

Withdrawals

Fiat withdrawals are possible via ACH (free, 1–3 business days, daily limit around $50,000) or wire transfers (domestic and international options, time ranging from next-day to several days); there’s no support for crypto-network withdrawals (e.g., ERC-20, TRC-20) from crypto holdings as Webull currently handles those internally.

Crypto withdrawals are subject to tiered daily limits based on your account level, typically processed within minutes but occasionally taking up to an hour; networks such as ERC-20, TRC-20, and others are supported with fees assigned per token.

Customer Support

Webull offers support primarily via email and an extensive online Help Center with FAQs and guides; there’s no indication of a 24/7 live chat, and response times vary; documentation is comprehensive, though interactive support may be limited.

Support is available by email and support tickets with variable response times; there is no live 24/7 chat, but users can access a knowledge base for self-help.

Languages & Localization

The platform tailors its services based on region—US users operate in USD, while European users access deposits and pricing in euros (via Webull Europe), with localized interfaces and regulatory compliance. However, Spanish-language localization isn’t broadly featured unless offered locally by a regional branch.

The platform is fully localized for the Philippines, with a native English/PHP interface, showing fees only in PHP and tailored to compliant local regulation.

App Quality & Stability

Webull is generally considered stable and has effectively weathered market surges and volatility since its 2016 launch, but users occasionally report UI crashes or performance hiccups, especially on mobile; regular updates and troubleshooting tips are available in its help guides.

The PDAX mobile app is generally stable and user-friendly, with regular updates visible in app stores and few reports of crashes among regular users.

Experience, Performance & Ecosystem

UX/UI

Webull strikes a solid balance between sophistication and ease of use, featuring a streamlined interface for the everyday user while offering a “Pro-like” feel through customizable dashboards, advanced charting, and intuitive navigation—though there’s no true “Lite” vs “Pro” mode toggle.

PDAX offers a gentle learning curve with its toggleable Lite (Convert) mode for beginners and Pro mode showcasing order books and depth charts, enabling users to seamlessly transition from simplified to more advanced tools

Performance

The platform generally delivers low-latency trade execution and holds up firmly during high-volatility periods; while user surges can cause interface lag, widespread “crashes” are rare and downtime is minimal even in bull markets.

Users generally enjoy responsive order execution under normal market conditions, though occasional reports hint at brief downtime or slower processing during sharp volatility spikes—typical of regional exchanges with growing demand

Education

Webull provides a rich educational ecosystem, including a structured learning section with tutorials, community-led lessons, in-app webinars, and a robust paper-trading simulator—though Spanish-language modules are limited outside select regions.

The platform includes a rich “PDAX Learn” section featuring crypto basics, market insights, and educational content; however, there’s no dedicated demo or simulated trading environment, and Spanish-language content is currently absent

Community

Webull fosters a lively investing community through in-app discussion boards where users share strategies, ask questions, and learn from each other; there’s engagement via feeds and idea-sharing, but no formal presence on Discord or Telegram for official support.

PDAX maintains official presence on Discord, Telegram, and Facebook, and runs engaging referral and reward programs—like PDAX Quests and influencer promos—to encourage peer participation and user-driven growth

Integrations

The platform now offers deep integration with TradingView—allowing you to trade directly from its rich charting interface—although integrations with external tax tools, accounting software, or third-party bots remain limited.

The platform comes equipped with TradingView-powered charts but currently lacks direct integrations for external trading bots, tax tools, or accounting services, limiting advanced automation and financial tracking options

Who Each One Is Best For

Webull is ideal for self-directed and intermediate investors who value powerful visuals, flexible tools, and a vibrant peer community—less suited for those wanting lightweight simplicity, multi-platform integrations, or extensive multilingual support.

PDAX is ideal for everyday Filipino users and crypto newcomers seeking a familiar, regulated, PHP-based experience; seasoned traders seeking derivative trading or deep automation may find its ecosystem less aligned with their advanced strategies.