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Webull is currently running a promotion which offers up to 25 free stocks when transferring a trading account to them, as well as offering up to $100 in transfer fee reimbursements.
The Deal
- Transfer a trading account to Webull & get the following:
- Tier A: Account value $800-$1,999
- Transfer fee reimbursement (up to $100)
- Tier B: Account value $2,000-$9,999
- Transfer fee reimbursement (up to $100)
- 5 free stocks (each valued $9-$1,600)
- Tier C: Account value $10,000-$24,999
- Transfer fee reimbursement (up to $100)
- 10 free stocks (each valued $9-$1,600)
- Tier D: Account value $25,000+
- Transfer fee reimbursement (up to $100)
- 25 free stocks (each valued $9-$1,600)
- Tier A: Account value $800-$1,999
- Our referral links:
Key Terms
- This promotion is only eligible for clients who have never transferred a brokerage account to us. If you have already transferred an account to us, you will not be able to participate in this promotion.
- If you qualify for this promotion, you must initiate the account transfer between 3/2/2021 – 3/29/2021 in order to receive the above perks + bonuses.
- Tier B – Tier D clients can only claim their bonus stocks on 4/20/2021. If a withdrawal or transfer out was initiated between 3/29/2021 – 4/20/2021, the bonus stocks will be cancelled.
- IRAs are excluded from this promotion.
Quick Thoughts
This could be a useful promotion if you’ve been taking advantage of the free stock promotions from various brokerages and happen to have also invested enough with at least one of them to make it worth transferring an account to Webull to earn some free stocks.
As it happens, this has worked out perfectly for me. Tastyworks ran a promo last year where they offered 100 free shares when funding an account with at least $2,000. Those shares had an expected value of $1-$6 and I ended up with 100 shares of LTRPA (Liberty TripAdvisor) which were each worth $2.25 at the time, so that was like an 11.25% return which wasn’t at all shabby. This was relatively early on in the pandemic when shares prices of travel companies had already sunk a lot, so the share price of Liberty TripAdvisor has recovered a lot since then which has resulted in a nice little gain.
As great as that Tastyworks promotion turned out to be, their trading platform is awful for relative novices like me. The $2,000 I’d transferred in had been sitting in a cash account, so I tried investing some of it a few months ago, but it wasn’t at all intuitive. Webull, SoFi Invest, Robinhood, etc. all make it easy enough to work out how to trade. Tastyworks on the other hand made it look like I was playing Wheel of Fortune to try to work out my Enneagram type.
I ended up giving up on working out how to trade with them, so invested with Webull instead. My Tastyworks account has therefore just been sitting there for the past year or so gathering dust stock gains.
That makes this Webull transfer promotion particularly useful for me. My Tastyworks account has enough in it to hit the Tier B threshold of $2,000-$9,999 which will earn me five free stocks worth $9-$1,600. Pessimistically assuming I get five stocks worth $9, that’s $45 I get for simply transferring my account. Webull is covering the transfer fee as part of this promotion, so I’m not going to be out of pocket as a result of that (Tastyworks charges $75 to transfer out an account).
Even better, the transfer is initiated in the Webull app which means I don’t have to mess around with the Tastyworks trading platform whatsoever. I initiated the transfer last night and it couldn’t have been more painless. It only took about one minute to fill out the required fields and check a few boxes, so my account should have been moved to Webull by March 11.
Something you might need to be aware of is that there are certain kinds of accounts that might not be eligible for this promotion. IRAs aren’t included, while there were three questions Webull asked when submitting my transfer request. If you’re transferring in options, it looks like your Webull account needs to be approved for Option Trading in order for your other account to be eligible for this promo.
Webull doesn’t support mutual funds or crypto either, so if your brokerage account elsewhere includes those, you won’t be able to transfer your account.
When it comes to the free stocks, the best return percentage-wise is to transfer in an account worth as close to $2,000 as possible as you’ll end up with at least $45 in free stocks. 10 free stocks and 25 free stocks sound nice, but the higher account thresholds required to earn those additional free stocks mean you’ll likely receive free stocks worth less than 1% of your account value. It might still be worth it to you to transfer in your account for the ease of having accounts consolidated in one place, but the sweet spot is the $2,000 mark. If you have $25,000+ you could transfer in, there are likely more generous brokerage bonuses you could be hitting.
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I transferred all my stocks “Tier D”, I have yet to see the 25 Free stocks. It should go into my account today correct?
Same here. Tier D. But have no where to claim it.
Today is when we are to receive them correct? I am nervous!
Any solution yet?
I called Webull customer service but it advised me to call between 9AM to 4:15 PM EST, although I called within these hours . Also emailed them but got an automatic reply!
I received my 5 free stocks the other day from Tier B.
Did anyone get their stocks?
How long did your Tastyworks account take to transfer into Webull? I initiated on 3/18 and still waiting. Yesterday 3/29 was the estimated day for it to be completed but nothing has moved yet. A little nervous I filled out my ACAT form wrong for a partial transfer.
I think it took a week or two; I’d give it another couple of days and then reach out to Webull as it’ll have been 2 weeks by that stage.
I mow have all these different one-off accounts. I just did the Tastyworks promo. Is there a way to consolidate all these sites fee-free? Thanks!
You could close each account, but that could have tax implications. Different brokerages sometimes offer fee-free transfers like Webull has, but those often have minimum amounts you have to transfer. If you’ve only done the minimum to get the free stocks from these programs, that likely wouldn’t be enough to qualify for a fee-free transfer.
One option would be to add enough funds to a cash account, then transfer it if you’re wanting your money to remain liquid. It might be possible to daisy chain this, so that you add $x to the cash account of account A, transfer than to account B, transfer that to account C, etc. That’s reliant on all those accounts offering free transfers though.
Thanks, I didn’t realize adding cash would work. I find most of these sites less than intuitive.
Thanks Stephen. I already had a Webull account, so I took advantage of this offer a couple of weeks ago as well and applied for a transfer for my full Robinhood account. I had forgotten that I had some OXY warrants in my account, so the transfer was rejected. I therefore tried again and applied for a transfer of everything except the OXY warrants. (it gives you the option of making a partial transfer of your account). My transfer did go through today & it was above the $2k threshold. I just got to thinking though, will I not receive the 5 free stocks since I only made a partial transfer? I looked at the offer and cant find an answer. I did a web search on the question and thats how i found this article of yours. Thanks!
The terms didn’t exclude a partial transfer, so my belief is that you will receive the free stocks. Unfortunately there’s no way of knowing until April 20 (when the stocks are due to be awarded) whether that’s the case or not as Webull doesn’t have some kind of tracker stating whether or not you’ve met the terms of the promotion.
thanks for the quick reply. I guess I will wait and see!
Neither link works, they just open up the “2 free stocks with account opening” promotion. I am signed up and signed in when clicking the link.
The links are referral links to sign up for Webull in the first place as you have to have an account with them in order to set up the transfer. Once you have an account, click on the menu button in the bottom right corner of the app and you should see the transfer offer there.
I’m in the process of a similar $2000+ account transfer. 4 days in and my stocks disappeared from RH but have not shown up in Webull. Did this happen to you? And uh… did you get any good free stocks? By now you should see what you got, yes?
I never checked my TastyWorks account to see when the stocks disappeared, but the transfer seemed to be done within about a week.
As for the free stocks, those don’t get awarded until April 20, so there’s another month to wait before I find out what ones I get.
I do have dogecoin however I have enough qualifying stock can I still take advantage of the deal
Dogecoin wouldn’t be eligible, but stock would.
I transferred my Robinhood account into webull. I have 1000k in stocks and 1000k buying power in RH. I will be into tier b right? and can I still use my RH account after I fully transfer the account? and If I reactivate my account in RH will it cancel the 5 free stocks?
You say you have 1000k in stocks – do you mean you have $1,000,000 in stocks? If so, you’d be in tier D.
So will I still get the free stocks if I withdraw some of my money out that would put me under 2000 after I get the free stocks from we bull once it gets transferred to we bull?
Webull only awards the stocks once you’ve fulfilled the terms of the promotion, so once you’re able to claim the stocks, you can withdraw your money.
Does this have to be in stocks or is cash value included in the transfer?
The terms don’t specifically state that it has to be in stocks from what I’ve seen. I’m hoping that’s the case as most of my TastyWorks account is in a cash account.
Hmm… When I follow your link, the page that opens up is an offer of 2 free stocks for opening up an account with $100. No mention of the transfer bonuses in this article
If you don’t have a Webull account, you’d get the free stocks for joining and funding with at least $100. Once your account is opened, you should then see the transfer promotion by tapping the menu button in the bottom-right corner and then scrolling the Promotion Center section until you see ‘New Transfer Promotion’.
Thanks, Stephen
Interesting. I drained my tastyworks account but assume I could transfer cash to it and then move it to we bull.
If your Tastyworks account is still open, I assume that’d work provided you initiate the transfer to Webull by March 29.