Contents
About Webull
Webull is a brokerage based out of New York City and regulated by FINRA (BrokerCheck). This means your funds are protected by SIPC insurance. They established in May 2017. They offer $0 minimum account balance and $0 commission fee.
The signup process is fast – you just sign up with a phone number or email address. You download their app, available on iOS as well as Android, and then provide all the typical brokerage account information – name, address, social security, employment and investing experience. You will have to provide your address too including a way to identify you – like a passport or driver’s license (you’ll need to take a photo of it).
After entering the information, your account is available in few minutes.
There is no minimum account balance requirement for a regular cash account. If you opt for a margin trading account, you’ll have to maintain at least a $2,000 balance.
Please note: there are no commissions on trades but there still are fees. The SEC and FINRA both charge a fee and Webull passes those on. The SEC charges $23.10 per $1,000,000 of principal on a sale with a minimum of a penny. FINRA charges a Trading Activity Fee (TAF) and the TAF is $0.000119 per share on sells with a penny minimum and $5.95 maximum. So on each transaction, you will still have to pay a minimum of a penny each – one to the SEC and to FINRA. You can trade over 5,000 stocks and ETFs but you can’t trade options, over the counter stocks, mutual funds or bonds. You are also limited to market, limit, stop and stop limit orders with a “good for today” deadline (so no GTC). There is extended hours trading, both pre-market (4AM – 9:30AM ET) and after-hours (4PM – 8PMET). Customer service with a live chat feature and phone service, I had tried their email service which was good.
Get Your Free Stock from Webull
go back
Webull Free Stock Offers
When you sign up using a referral link via a smart phone, you will get a share of stock valued between $2.5 and $250 (you don’t need to deposit money, complete a trade, or link up an account to get the free share of stock). If you don’t use a referral link you won’t get that free stock. The free stock reward is chosen “randomly by algorithm from Webull’s Reward Program Inventory of settled shares.” You’ll get a stock with a minimum market cap of $10 billion and listed on the NYSE or NASDAQ, so it’ll be easy for you to sell whenever you want.
The process is very easy:
- Sign up for a new Webull account using a referral link.
- After registering, download the Webull app for your phone.
- Open the app, click on “Trade” at the bottom of the app to set up an account. This opens an account opening screen where you’ll enter in personal information to actually open an account.
- Go back into the app, then to the menu to see the “My Free Stock” offer.
- On the “My Free Stock” page, press “GET” button at the top to see what you get. The screenshot is to the right.
- The stock will be worth between $2.5 and $300 and credited within 5 trading days.
- Sell the stock! You will be given a tax form indicating the promotional value was given to you.
I did this earlier and I got a BIOS stock valued at $3.45 a share. 🙂
Get Your Free Stock from Webull
go back
Deposit $100 to Get a 2nd Free Stock
In addition to the new account opening bonus, there’s a deposit bonus too.
If you fund a $100 within the first 30 days of account approval, you’ll also get a stock valued between $8 and $1,000.
Get Your Free Stock from Webull
go back