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Webull is a brokerage app that we’ve written about a number of times because they frequently offer decent referral bonuses for getting friends or family to open an account and make a deposit and occasionally offer lucrative bonuses for making big deposits or account transfers. Right now, they are offering a decent promo for new users. They are also running a good deal if you refer friends whereby you can get 4 free stocks valued at $3-$300 each when your friend opens an account and deposits at least $5, so playing in 2-player mode you could turn $10 deposited ($5 each) into more than $20 worth of stock and opportunities to pick up further bonuses down the road.
The Deal
- Webull is offering 2 free stocks when you open your brokerage account and deposit at least $5 (get a free stock worth $3-$300 when you open your account and another free stock worth $8-$2,000 when you deposit $5 or more).
- Direct link to this promotion (our affiliate link)
- Webull is further offering a promotion whereby you can earn 4 free stocks each worth $3-$300 when you refer a friend and they make an initial deposit of $5 or more (YMMV as this promotion may be targeted)
Key Terms
- Limited Time Offer duration: 07/01/2021 – 08/31/2021.
- Apply to open a Webull brokerage account between 07/01/2021 – 08/31/2021 and receive a free stock, valued between $3 – $300. (The Account Opening Bonus is valid for the first time Webull brokerage account opening only.)
- The Deposit Bonus Promotion is only applicable for Webull cash and margin accounts. Any other accounts (such as Webull IRAs) are not qualified for this.
- This promotion is only valid for the first time Webull brokerage account deposits. During the promotion duration, a new brokerage account holder, who makes an initial deposit of $5 or more between 07/01/2021 – 08/02/2021 will receive a free stock, valued between $8 – $2000.
- Initial deposits made between 07/01/2021 – 08/31/2021 will allow the client to claim a Initial Deposit Stock, valued between $8 – $2000.
- These reward stocks will be distributed from Webull’s inventory of settled shares held specifically for this promotion. When the stocks were purchased, Webull made sure they were above the price range we promised. Due to market fluctuation, some stock values may drop from the time we made the purchase. Please understand that we have no control over the fluctuation of the market.
- The Initial Deposit Stock can only be claimed when the deposited amount has settled into client’s account. Depending on the deposit method, funds may take up to 5 (five) business days to settle.
- Webull is not responsible if a client’s brokerage account goes into the negatives due to a failed transfer. Once a client has attempted to participate in this promotion, they will no longer be allowed to participate in any other “initial deposit” promotions.
- Clients who transfer a non-Webull brokerage account, with an asset of at least $2000, will be able to have their transfer fees reimbursed (up to $100). This is a ONE-TIME only offer and will only apply to client’s first account transfer. This means, if a client transfers a $500 account on a Monday, and then a $1500 account on a Tuesday, even though it adds up to $2000, they will still NOT be reimbursed, reason being that we only count the value of the first account transfer. Questions about account transfer? Please reach out to us via the HELP CENTER if you need any other clarification.
- Once a client has successfully transferred their non-Webull brokerage account to us, they will be required to submit proofs for the reimbursement. In order for us to issue the reimbursement, client must submit a copy of their most recent statement from their previous brokerage account with evidence of a transfer fee. Once approved, the reimbursement will be deposited directly into that Webull brokerage account within 10 business days.
- To submit these documents, please go to MENU >>> PROMOTION CENTER >>> DEPOSIT BONUS >>> SUBMIT MY ROLLOVER DOCUMENTS.
- The promotion stock inventory is composed of stocks with a minimum market capitalization of $2.5 billion, from a US-based company. After your account approval, you will be able to claim 1 stock from the following program stock inventory: stock in the $3/share – $10/share range, approximately 1:1.02; stock in the $10/share – $50/share range, approximately 1:52.63; stock in the $80/share – $100/share range, approximately 1:1111.11; stock in the $100/share – $300/share range, approximately 1:10000. After you complete your initial deposit of $5 or more, you will be able to claim 1 stock from the following program stock inventory: stock in the $8/share – $30/share range, approximately 1:1.02; stock in the $30/share – $100/share range, approximately 1:52.63; stock in the $100/share – $200/share range, approximately 1:1111.11; stock in the $1000/share – $2000/share range, approximately 1:10000.
- Clients have 30 days after their initial deposit settles to claim their free stock. Otherwise, the free stock will expire. Webull will not reissue any expired stocks.
- The free stock(s), once claimed, will be credited to the client’s account within 15 trading days.
- Stock distributed under this promotion does not constitute a recommendation for its purchase, sale or holding.
- Clients may hold or sell the awarded stock(s) that has been credited to their account. Money made from the sale of the stock(s) can only be withdrawn after 30 days (from day sold). The money can be used to buy other eligible securities in the account.
- This promotion is valid once per SSN. If a client already has a brokerage account with us, making an initial deposit of $5 or more in the second brokerage account will not grant the client another Initial Deposit Stock.
- Where required by applicable rules and regulation, the monetary value of all received Webull Financial LLC offers may be reported as Other Income on Form 1099-MISC. Webull Financial LLC is not responsible for any taxes related to this stock reward program.
- This program is only open to U.S. residents currently living in the U.S., who are at least 18 years of age and hold a valid Social Security Number. Employees, contractors, or persons similarly associated with Webull Financial LLC or a Webull affiliate, members of their household and employees of any securities regulatory organization or exchange are not eligible for this program.
- At its discretion, Webull Financial LLC reserves the right to adjust the incentive program parameters.
- Webull Financial LLC reserves the right to decline participation of certain customers in its incentive programs.
- Webull Financial LLC reserves the right to terminate the incentive program at any time without notice.
- Other restrictions may apply and will be posted on the Webull APP or website prior to effectiveness.
Quick Thoughts
Obviously this promotion isn’t a huge win for someone signing up new, but the better new account offers typically require a deposit of $100 or more.
One thing I like about this offer and its low initial deposit is that it gives you a chance to try out the platform without committing much cash. Another thing I like about it is that Stephen Pepper and I were both targeted for deposit bonuses not too long after singing up a couple of years ago. Since you only have to deposit $5 to get started, you can make your $5 deposit and hope to get targeted for a bonus for depositing a more realistic amount to invest later (obviously no guarantees there). They also occasionally run promotions for moving your account from another brokerage and sometimes those can be decently lucrative (like this offer of up to 25 stocks worth $9-$1600 each plus a transfer fee credit, since expired).
They definitely run more generous referral promotions at times, so I wouldn’t hurry to refer everyone I knew for the 4 stocks valued at $3 or more, but on the other hand if you happen to get lucky enough to get a stock at the higher end you would certainly be happy to get 4 of them. Still, back in April they ran an offer to get 11 stocks worth $8-$1,000 each with two referrals, so it might be worth waiting to refer friends and family in case something more generous comes around. Personally, I’ve rarely gotten stocks worth much more than their advertised minimum (and a number of times they have been some amount of cents less than the bottom end of the promised bonus due to market fluctuations after they bought the stock and before they awarded it).
Overall, I find Webull to be a decent app-based brokerage. It isn’t as pretty-looking as SoFi or Robinhood, but it has a lot more information and complexity for those looking for a slightly more robust trading experience in app form. I’ve been happy to take advantage of several referral and deposit promotions to gather a little portfolio of stocks that I wouldn’t have otherwise bought but I find it kind of fun to own. While my retirement investments are with Merrill Edge, I view investing apps as my “play money” investing and I enjoy using Webull for that purpose. I think I would enjoy it even more if I used it to trade more seriously and frequently, I’m just not a day trader.
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Heavens, this just seems like way too much effort! So much harder than opening a credit card account. FWIW, I have a Merrill edge also, but also have a Schwab and I find that format much easier to navigate.