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Thndr vs Webull: fees, markets and protection

Facts for both companies from their official pages; each was checked on the date shown in its review.

Facts verified on October 18, 2026

Key differences

Only Thndr lists Egyptian Exchange (EGX) and Abu Dhabi Securities Exchange (ADX).
Only Webull lists Hong Kong Exchanges (HKEX), Shanghai Stock Exchange (SSE), Shenzhen Stock Exchange (SZSE), and Tokyo Stock Exchange (TSE).
Only Thndr is licensed by FRA (Egypt) and FSRA (ADGM).
Only Webull is licensed by SFC.
Only Thndr supports Vodafone Cash for deposits and withdrawals.

Criterion	Thndr	Webull
Rating	3.7/5 on other platforms 29K ratings	4.4/5 on other platforms 3.8K ratings
Regulators	FRA (Egypt), FSRA (ADGM)	SFC
Markets	Egyptian Exchange (EGX), US exchanges (NYSE, Nasdaq), Abu Dhabi Securities Exchange (ADX)	US exchanges (NYSE, Nasdaq), Hong Kong Exchanges (HKEX), Shanghai Stock Exchange (SSE), Shenzhen Stock Exchange (SZSE), Tokyo Stock Exchange (TSE)
Products	stocks, ETFs, fractional shares, funds	stocks, ETFs, fractional shares, bonds, options, funds
US stock or ETF order	$0.20 per order, 0.1% of the order, $0.0015 per share	$0 per order
Investor protection	Egyptian Investor Protection Fund	Investor Compensation Fund (Hong Kong)
Deposits and withdrawals	InstaPay, Vodafone Cash, Bank transfer, Visa / Mastercard	Bank transfer, FPS (Faster Payment System)
Minimum deposit	—	HK$10,000
Available only in	—	Hong Kong, Macao
	Read review	Read review

Which regulators license Thndr and Webull?

Thndr is licensed by FRA (Egypt) and FSRA (ADGM); Webull by SFC.