Webull App: $0 Stock Trades, $0 Options Trading, Free Share of Stock

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Updated offer details. Webull is a brokerage app (PC and web version also available) that has unlimited free stock trades with no platform fees, free real-time quotes, and no minimum balance requirement. As of March 2020, it has now added $0 options trades with $0 per contract fees. (Fidelity, Schwab, E-Trade, and TD Ameritrade all still charge $0.65 per contract.)

Compared to Robinhood, Webull is more of a full-featured traditional brokerage shrunk down into an app. Robinhood has a sleeker minimalist feel, while Webull has a ton of options for real-time stock quotes, technical indicators, charting, etc. Webull has traditional margin accounts that allow shorting. You can’t short stocks at all on Robinhood. Most importantly to me, Webull has customer service available via 24/7 Live Chat or phone number. Robinhood only has an e-mail address.

Free stock bonus and transfer fee reimbursement. New users who are referred by another user can get one free share of stock valued between $8 and up to $1,600. You must open an account and fund with at least $100.

Webull will also reimburse you up to $100 in transfer fees if you move at least $2,000 worth of assets over to them.

Here is my Webull referral link. It’s like a scratch-off ticket where most people will get the lowest tier, but you also have a small chance at something better. Thanks if you use it! I have received shares of TEVA, SNAP, SBUX, VG, and even one AAPL. After you get the new user bonus, you can refer other people as well.

Here are the full odds for the opening deposit bonus:

$8 to $30 value, odds are ~1:1.02
$30 to $100 value, odds are ~1:52.63
$100 to $200 value, odds are ~1:1111.11
$1,000 to $1,600 value, odds are ~1:10,000

You will need to sign-up initially either with a phone number or e-mail address, and then open an account after downloading the app (Android or iOS). Webull is a real SIPC-insured broker, and the application is the same (name, address, SSN, work questions, investing experience questions, etc).

Bottom line. Webull is a brokerage app with free stock trades + free options trading with no contract fees. The feel is more of a full-featured traditional brokerage account shrunk into your smartphone. New users who open an account and deposit $100+ can earn a free share of stock. You can also get $100 in transfer fees reimbursed if you later move over at least $2,000 in assets.

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Comments

  1. You forgot to mention Firstrade, which beats Webull and Robinhood by offering free options trading, of course in addition to everything else those two offer. I have been really happy with Firstrade. Thanks for the Firstrade tip you posted on your blog a couple of weeks ago.

    • Thanks, I will add to the post when I get a chance. Here’s my Firstrade post about their Free Trades Offer:

      https://www.mymoneyblog.com/firstrade-free-online-trades.html

      • Daniel L. Shiner says

        Hi Jonathan–I opened a Webull account a couple of months ago. I didn’t really use it, so I had it transferred to my regular (Fidelity) account. I had a few stocks in the Webull account and $100 cash. The stocks transferred, the cash did not. When I looked into this, Webull said that there was a $100 fee for closing the account. I’ve NEVER heard of such a thing, and was stunned. You might want to let your readers know about this. The cost is a lot more than the value of the stocks they receive in the promotion! Take care.

        • Thanks for your comment. I’d never heard of this, there is no account closure fee on their fee page and I couldn’t find any other reference to an account closure fee online. They do have a $75 fee for outgoing ACAT transfers, is that perhaps part of it? What happens if you attempt an ACH transfer to withdraw that $100?

          • Daniel Shiner says

            I authorized Fidelity to do the transfer, and when the funds did not transfer with the stocks, I asked Fidelity if they could look into it. They contacted Webull, and were told there was a $100 fee for closing an account. I have also reached out directly to Webull, and am waiting for a response from them. My account at Webull has a zero balance for cash and equities, so there is nothing left to transfer.

        • There is no fee for closing your account, but they do charge the pretty standard $75 fee for any ACAT transfer of stocks. (Most brokerages will refund the fee, at least once, for transfers as long as you transfer at least a few thousand dollars of total value (cash+stocks). The fee is clearly spelled out in their fee schedule: https://www.webull.com/pricing

          If you sold all the shares, used an ACH transfer to get the money out, then you could close the account for free.

          They offered me 35 stock shares if I transfer in at least $100k worth of assets, but I know I would have to pay $75 to get them back out, unless I liquidated them, so it doesn’t seem worth it. (Unless my brokerage would refund it, but I think I already used my one refund with them.)

  2. Robinhood has a way better UI… anyway, in for one with your link, got a share of ABEV.

  3. I opened an account with your link a while ago. They are doing a promotion now. Funded my account and got my second free stock, AAPL!!! Thank you!!!!

  4. Thanks for referral links. This brokerage is great and is now my go to for investing. It is slightly better than robinhood imo. Got 25 dollar stocks for my deposits.
    Here is my referral link if anyone is interested :

    https://act.webull.com/i/ob93oyhBK9OA

  5. I used the referral link and got an account opening bonus of SWN stock worth ~$2.42. Website clearly says that free stock for account opening (not deposit) should be $2.5 – $250. Seems like they are using some favorable rounding in their calculations. I’ll see how it goes when I get my deposit bonus stock before passing final judgment.

    • I think they just pick the stock ahead of time that has been trading in that range. What was the value on the date that the stock arrived in your account? The 52-week high of SWN is $6.23 but the 52-week low is $2.36. My share of TEVA has a 52-week high of $25.96 and low of $7.66. Maybe the stocks that WeBull picks are good picks to short…

  6. I signed up for this WeBull promo two weeks back. I received 1 share of General Electric stock, which was a nice, easy $11 in my pocket…errrrr, portfolio, I mean. I’ve actually been impressed with the app, as the interface is pretty easy to navigate. Good luck to all new bonus-goers. Oh, and if anyone cares to use my link, here it is:

    https://act.webull.com/i/sV8sfzuH6WK/55d/

  7. dexterzt says

    Expired on May 30, 2020

  8. i just used your link. hope you got the free stock!

  9. I used your link and got a share of SAN which they say is valued at $2.38, so not really the minimum of $2.50 they claim. (It hasn’t been worth $2.5 since June 10th. Hopefully my second one, when my deposit settles, won’t be such a stinker. (And hopefully you get two good stocks as well.)

    • I got the same stock. It took over 10 business days to settle. Customer support has been bad. I don’t expect to see my second stock anytime soon.

      They also screwed up my orders – I got a cancel confirmation but the order still executed a day later. I have been trying to get customer service for over 2 weeks now.

      Once all my funds settle and I can sell everything at a positive – I’m leaving. Experience has been terrible, for me at least.

      I was hoping to find an alternative to Robinhood but I guess I will stick with it for now.

    • So the second free stock is PEB which they valued at $12.23. At least that was above the minimum. (Way lower than that now.) SAN has come up to $2.48, so maybe it will hit $2.50 by the time it actually settles. (Maybe that is their plan, they don’t “settle” your free stock until it is above the minimum offer.)

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