(EXPIRED) Webull Promo: Transfer Account To Webull & Earn Up To 25 Free Stocks + Transfer Fee Reimbursement

25
Sorry, this deal is no longer available. Do you want to be alerted about new deals as they’re published? Click here to subscribe to Frequent Miler's Instant Posts by email.

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.

Webull transfer promotion

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)
  • 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.

Tastyworks trading platform
Tastyworks trading platform

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.

Webull questions

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.

Email:*
Please enter all required fields Click to hide
Correct invalid entries Click to hide
Subscribe
Notify of
guest

This site uses Akismet to reduce spam. Learn how your comment data is processed.

25 Comments
oldest
newest most voted
Inline Feedbacks
View all comments