(EXPIRED) Webull: Refer 3 Friends & Get 9 Free Stocks (Ends 6/22/20)

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Webull has launched a new referral promotion which gives 9 free stocks when referring 3 friends by June 22, 2020. With the free stocks being worth $12, that bonus is worth more than $100.

Webull Refer 3 Friends & Earn 9 Stocks

The Deal

Key Terms

  • Expires June 22, 2020.
  • Every successful referral will grant the referee 2 free stocks, each valued between $12-$1,400. During the promotion, receive a bonus stock (for each referral) when you successfully refer three people to join Webull. Each stock will be valued between $12-$1,400.
  • Successful referral: A new user, who has never had a brokerage account with Webull, uses the referee’s unique referral link to sign up & open a brokerage account and make an initial deposit of at least $100 within 30 days of signing up.

Quick Thoughts

Webull ran a similar promotion recently which offered three free stocks per referral, but that only required that you make two successful referrals in order to earn the third free stock per person.

This promotion is therefore a little harder to complete, but with each free stock being worth $12+, you should get stocks worth $108 or more. As I explained with the last promotion, the amount you receive could potentially be a little lower than that due to how Webull purchases the stocks:

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 do not control over the fluctuation of the market.

Seeing as the stocks have been pre-purchased, their value might have dropped a little below $12. I’ve received stocks in the past that were worth $11.xx, but I’ve also received stocks worth more than $12, so it’s probably all balanced out over time.

Note that the people you refer have to deposit at least $100 in their first transaction within 30 days. That $100 deposit doesn’t have to be invested; they can leave it in cash which means there’s no risk to their money going down due to market fluctuations. From what I can tell, your friends will receive two free stocks. They get one worth $2.50-$250 for simply opening the account, then they’ll earn a free stock worth $12-$1,400 when depositing $100+. Earning at least $14.50 for a $100 deposit is a nice little return. That works out even better if one or more of the people you refer is a household member.

If you’ve never referred a friend, you might see an additional referral promotion on your account offering four free stocks when referring your first friend. I’m not entirely sure how that stacks with this promotion, if it does at all. My guess is that you’d earn four free stocks for your first referral, two for your second and two for your third, with three bonus stocks then being awarded from this universal promotion. If that’s the case, you’d end up with 11 free stocks which would be worth at least $132.

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[…] more than usual, it’s not quite as good of a referral promotion as it could be. For example, Webull ran a promotion a few months ago offering nine free stocks when referring three friends. While this promotion […]

[…] Webull: Refer 3 Friends & Get 9 Free Stocks (Expires 6/22/20) […]


You may want to consider avoiding potential disappointment …
The free stocks you get, supposedly “valued between $12.00 and $1400.00” may end up right at the … well, you know where …