(EXPIRED) Webull: Get 20 free stocks + 1 share of Starbucks, Apple or Google with 2 referrals

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The investment app Webull offers a steady stream of referral promotions and currently has two stacking offers that award a total of 20 free stocks (Min $60 value) and one share of either Starbucks, Apple or Google after two successful referrals.

Webull is offering stacking referral offers in May

The Deals

Key Terms

  • 10 free stocks referral promotion
    • Must tap ‘Participate Now’ button
    • New user must sign up and open an account with Webull via an existing referee’s link between between April 19, 2022 and May 11, 2022.
    • Eligible customers will receive 10 Reward Stocks for their first 10 successful referrals during the offer period. For each additional successful referral thereafter, eligible customers will receive 2 reward stocks per successful referral
    • A successful referral is a new Webull user who
      • Is at least 18 years of age
      • Resides in the United States
      • Opens a Webull account using the eligible customer’s unique referral link during the offer period
      • Has a valid social security number
      • Has never previously applied or opened for a Webull brokerage account with that social security number
      • Makes an initial deposit of any amount
    • Referee will receive 3 free stocks valued at $3-$300 plus 2 free stocks valued at $7-$3,000
    • Offer rewards must be claimed through the Webull mobile app by 11:59pm EST on June 11, 2022 in the My Rewards page of the Webull app. Offer Rewards not claimed by the claim date will expire and cannot be reissued.
  • Starbucks/Apple/Google Referral Promotion
    • Offer valid May 1- May 31, 2022.
    • Limit one reward per eligible customer. The Starbucks Offer Reward must be claimed through the Webull mobile app by June 30th, 2022. Offer Rewards not claimed by this date will expire and will not be reissued.

Quick Thoughts

Webull’s marketing is interesting to me, as they dramatically incentivize referral bonuses over sign-up bonuses. There is always a referral promotion of some kind, but their recent offers have been notable because they stack nicely and have low-ish referral requirements.

The first referral promotion offers 10 free stocks worth $3-$3,000 for each successful referral during the promotional period, up to ten total. Webull markets this as their ‘Best Referral Promotion’ and, in terms of the number of free stocks you get, that’s true. However, in terms of the guaranteed value, it’s not. For example, a past referral promotion offered four free stocks worth at least $8. That promo would therefore guarantee that you got stocks worth at least $32, whereas this latest promo only guarantees $30 of value.

In my experience, there’s usually 1 or 2 more highly-valued stocks in that bundle of ten and the average total value ends up being between $35-50. The most expensive single stock that I’ve ever received was around $35. The promotion gets better if the person you refer is in your household because they’ll also receive free shares – three shares worth at least $3 and two shares worth at least $7. That’s a minimum of $23, so between the two of you you’d earn a minimum of $53 in free shares.

Something important to note is that this first referral promotion requires that you click the ‘Participate Now’ button in the app to activate it. To find that, tap the circular person icon in the top-right corner, tap the “Refer 1 friend and get 10 free stocks” promo, then scroll down and tap ‘Participate Now’.

If you can refer at least two people, it gets much better. For starters, you’ll earn a total of 20 free shares from the first referral promotion, so a total of at least $60. You’ll then also qualify for a separate referral promotion awarding you 1 share of Starbucks, Apple or Google. You’re guaranteed to get at least one Starbucks share and that’s by far the most likely outcome, as in 99% most likely. SBUX is currently trading around $74, so the total value of two referrals would be at least ~$135…a very good return for just two referrals, especially since the referred person only has to make a minimum $1 deposit to be successful. 1% of people will receive a share of Apple and .01% will get a share of Google, so I wouldn’t even factor that into the equation.

That’s a very good return for just two referrals, especially since the referred person only has to make a minimum $1 deposit to qualify. Unfortunately, new Webull customers have to be 18+ to be eligible for this referral promotion, so signing up a child along with your partner wouldn’t earn you the two referrals needed.

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