Webull/ Webull Securities Investment Account Introduction
[Updated in July 2024] Webull is offering a 2% transfer bonus: transfer stocks from other brokers, and Webull will give you a 2% bonus! Ends on July 31. HT: DoC. For example, if you transfer $100k, the reward is $2,000; if you transfer $1M of stocks, the reward is $20k. The upper limit is the reward of $100k for transferring $5M of stocks. Generally speaking, the stock transfer reward of 1% by brokerage firms is already very good, and this 2% is very generous! Please note that this reward requires the amount to be maintained (excluding trading loss) until July 30, 2026, which is about 2 years. You need to enroll to participate, and you can see it by swiping left and right in menu - promotion center.
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Application Link
Identity restrictions
In terms of investment, the tax system for US Person (including Resident Alien (RA)) and Non-Resident Alien (NRA) is different! So before opening an account, please find out whether you are an RA or an NRA. For details, please refer to "Identification of tax filing status 》.In addition to opening accounts for RAs with SSNs to trade U.S. stocks, Webull also supports online account opening for Chinese NRAs who do not have SSNs or have never been to the United States (need to use Links specifically for Chinese users Open an account and provide a Chinese ID card or passport), NRA can use both US stock accounts and Hong Kong stock accounts in the Webull App.【Update】Webull no longer supports NRA account opening.
Basic account information
- Account opening bonus: A total of 20-75 stocks (fractional shares) will be given.Note: The stocks given as an account opening bonus must be claimed within 30 days by going to the Menu – My Free Stock page. Otherwise, the bonus will expire.
- Deposit $500 or more and keep it for 30 days, and you will be given 20 stocks (fractional shares) with a market value of $3~$3000 (98% probability $3~$10).
- or Deposit $25,000 or more and keep it for 30 days, and get 75 stocks (fractional shares) with a market value of $3~$3000 (98% probability $3~$10).
- The trading commission for stocks and ETFs is $0, and the option commission is also $0.
- Spare money can enjoy high interest rates, and the current (July 2024) APY is 5%.
- $0 monthly fee, no minimum deposit requirement.
- Like other emerging Internet brokerages, you can trade stocks and ETFs, but you cannot buy or sell Mutual Funds.
- Supports Extended Hours (4:00 am ~ 8:00 pm) which is suitable for those who like to do Day Trading.
- You can also trade virtual currency.
- support US Stock IPO.
- You can Refer A Friend to get free stocks. The activities change frequently. Please check the current promotion rewards in the App.
Summarize
Webull is a company in Xiaomi's financial ecosystem Fumi Technology Its Internet brokerages,WEBULL FINANCIAL LLC It is the United States SEC licensed entity,FINRA and SIPC Certified Member, and holds US and Hong Kong licenses, so the security of funds is guaranteed to a certain extent. But my personal opinion is that since the major traditional brokerages have also started zero commissions, these emerging Internet brokerages are no longer suitable as the main investment account, except that the interface may be more popular with young people and there are more wool reward activities. During the period of several circuit breakers in the US stock market in 2020,Robinhood There were some technical failures that caused a short period of time when trading was unavailable, which frightened many people or caused actual losses. Therefore, it is better to put large funds in traditional brokerages (such as Schwab, Fidelity, IBKR etc.), and these Internet brokerages are worth taking advantage of for their account opening rewards and promotional offers.
As a Chinese brokerage firm, Webull's most significant advantage over major U.S. brokerage firms is that it can Participate in IPO(U.S. brokerages generally do not support retail investors in new stock issuance or have very high thresholds), which is suitable for friends who are interested in new stock issuance arbitrage. However, it should be noted that as a relatively small-scale underwriter, Webull can generally obtain low-quality new stocks in the U.S. market. In addition to subscribing to Chinese concept stocks, U.S. stock new stock issuance also provides some non-Chinese concept small-cap stocks. Subscribing to these new stocks often either skyrocket or plummet, so please pay attention to the risks! The better brokerage for new Chinese concept stocks is still Moomoo/ Futu and TradeUP/ Tiger.
Webull used to be one of the few US stock brokers that supported NRA account opening, but later stopped supporting it, which is a pity.