Webull is a great electronic trading platform that you can use to trade stocks, cryptocurrencies, exchange-traded funds, margins, and options. Webull also offers different promotions, but as a potential user, you might be wondering – does Webull reimburse transfer fees?
So, does Webull reimburse transfer fees? No, Webull does not reimburse transfer fees anymore. It was a part of their 2021 March promotion. However, they offer a transfer bonus of $75, which you can claim on their promotion page. This is also not their only promotion. They also offer bonuses for your first deposit, a referral, and complimentary quote bonuses.
Some of these promotions are quite good, so you should check whether you might be eligible to claim them.
Does Webull Reimburse Transfer Fees?
In 2021, between March 2nd and 29th, Webull offered a special promotion to their new users. If you decided to transfer your securities account to their platform, they offered some awesome perks and bonuses, depending on what your incoming value was. Along with other benefits, they have offered to reimburse the transfer fee.
Depending on the Incoming Value, Webull Reimbursed Transfer Fees and Offered Free Stocks
The transfer promotion was only eligible for users who have never transferred a brokerage account to Webull and that have initiated the transfer in that specific period. Here are different tiers of incoming value and their perks and bonuses:
- Tier A included accounts from $800 to $1,999. This category received reimbursements for their transfer fees up to $100.
- Tier B included accounts from $2,000 to $9,999. They were eligible to receive a transfer fee reimbursement (up to $100) and five free stocks, each of them valued from $9 to $1,600.
- Tier C were accounts that ranged from $10,000 to $24,999. They were eligible to receive reimbursements for their transfer fees (up to $100) and ten free stocks, each valued from $9 to $1,600.
All of these categories received a complimentary subscription for three months to Level 2 Advance. The subscription was added to their account once the incoming transfer was settled. Additionally, the new clients that belonged to Tiers from B to D could claim their free stocks only on April 20th, 2021.
What Are Webull’s Current Promotions?
Although the reimbursement for transferring your account promotion on Webull has passed, this platform offers other promotions for its users. If you are eligible, you can claim bonuses for laying down your first deposit, referrals, complimentary quotes, and transfers. These promotions can convince you to pick Webull over Binance. However, there are different rules that apply to each of these promotions.
Claiming the Deposit Bonus Rules
Are you considering laying a deposit on a Webull account, and you’re wondering how long it will take to settle? Depending on whether it’s an international transfer or a local one, it can take one or five days. However, there is one benefit if it is your first deposit.
Once the first deposit has settled, you gain free stocks, and they are yours to keep. It takes around five working days after the deposit has cleared to gain a free stock. Since the majority of customers deposit through ACH, in that case, it will typically take four working days for the money to settle.
Clients making wire deposits can anticipate their money to clear in one to two working days. For your cash to settle if your initial deposit was made through a brokerage (stock) transaction, you can expect funds in seven to nine working days.
When You Refer Another User Toward Webull, You Can Claim Referral Bonus
Webull does not offer custodial accounts, but you can refer your friends and family who are over 18 toward this platform and get a bonus. If you make a referral, ensure that the individual you referred toward Webull is on your list of invitees. Once the referral opens a brokerage account, you are eligible to get the complimentary stocks. They will show up on My Rewards.
To be eligible, there are several other conditions to fulfill – your invitee will have to have an “Open Account” status and has never had a brokerage account with Webull previously. Keep in mind that you won’t get a referral incentive if the invitee doesn’t join using your referral link.
There’s No Reimbursement for Transferring Fees, but There’s a Transfer Bonus
Although the reimbursement for transferring the account was only available for a short period, Webull offers a transfer bonus. If you qualify for it, you can gain $75 for transferring your account to this platform. You can claim this sum on their promotion page, through the Menu, or under Messages. If you’re wondering how long it takes for the cash to settle, expect it to be available to you after 10 to 13 business days. Keep in mind that you are eligible only if this is your first brokerage account transfer.
Complimentary Quotes Bonus
Once you’re approved to trade options on this platform, and you fill out the questionnaire, you can gain free real-time options quotes. The table below shows the steps to claim this bonus, depending on the version of the app you’re using.
|Webull Mobile App V7.0||Messages||Promotion Center||Get Complimentary Advanced Quotes||OPRA Real-Time Data||Claim it for free|
|Webull Mobile App V8.0||Menu||Promotion Center||Get Complimentary Advanced Quotes||OPRA Real-Time Data||Claim it for free|
There is also a side note from Webull – once you claim this bonus, you will continually receive OPRA through the trading options at least once every 30 days. Additionally, OPRA offers data on the latest sales and quotes for all national consolidated options.
There Are Many Benefits of Using Webull and Claiming Promotional Bonuses
One of the greatest benefits of trading on Webull as a platform is the fact that they do not charge any fees. However, their promotions are also beneficial in several ways. Besides gaining a sum for transferring your brokerage account, you can also use the complimentary stock the way you see fit, That means you can sell it once it’s settled into your account and use those proceeds to invest further or withdraw the funds.