[Expired] New WeBull Brokerage Customers Can Get Bonus Of Up To $5,000

The Offer

Direct Link to offer | Terms

• WeBull brokerage is offering new users bonus of up to $5,000 when you transfer over investments:
  • Transfer $2,000: Get $100 Transfer fee Reimbursement
  • Transfer $10,000: Get $100 + $100 Transfer fee Reimbursement
  • Transfer $25,000: Get $300 + $100 Transfer fee Reimbursement
  • Transfer $100,000: Get $1,200 + $100 Transfer fee Reimbursement
  • Transfer $500,000: Get $3,000 + $100 Transfer fee Reimbursement
  • Transfer $1,000,000: Get $5,000 + $100 Transfer fee Reimbursement

The Fine Print

• Offer Period: Oct 2, 2023 12:00 AM EST – Oct 30, 2023 11:59 PM EST.

• Offer Eligibility: This promotional offer (the “Offer”) is only open to current customers in good standing of Webull Financial LLC (“Webull”) who have opened a brokerage account on or after Oct 2, 2023. To be eligible for this Offer, the customer must (1) be at least 18 years of age, (2) reside in the United States, (3) have a valid social security number or tax identification number, and (4) initiate a transfer of that brokerage account to Webull via the Automated Customer Account Transfer Service (“ACATS”) during the Offer Period (the “Account Transfer”) (“Qualifying Customers”). The Offer does not apply to individual retirement accounts (IRAs).

• Offer Requirements: Qualifying Customers will receive an invitation to participate in this promotion either through e-mail or push notification within the Webull mobile app. For Qualifying Customers who initiate an Account Transfer during the Offer Period and have an Account Value of $2000 or more, Webull will reimburse the transfer fee of $100(the “Transfer Fee Reimbursement”). Transfer fee reimbursement is only eligible for customers who have never transferred a brokerage account to Webull. Internal transfers between Webull brokerage accounts do not count.

• Qualifying Customers who make a net incoming Account Transfer（the value of cash and securities transferred to Webull less withdrawals or transferred as of January 29^th 2024 11:59 PM ET) of $2,000 or more during the Offer Period (“Eligible Customers”) will receive cash reward.

• Eligible Customers will not accrue Offer Rewards on a cumulative basis. For example, an Eligible Customer with a Net Incoming Account Value of $30,000 as of 11:59 PM EST on January 29th, 2024 will receive Offer Rewards solely in the amount of $300, and will not be entitled to receive an additional $100 of Offer Rewards for exceeding the preceding Net Incoming Account Value tiers.

• Offer Rewards earned by an Eligible Customer will be deposited to such Eligible Customer’s Webull Brokerage Account on or about January 30, 2024. Eligible Customers that have accrued Offer Rewards in accordance with these Terms and Conditions will not need to take any additional actions to accept or claim their accrued Offer Rewards.

• Limitations: Transfer Fee Reimbursement and Offer Rewards must be claimed through the Webull mobile app by 11:59 pm EST on January 30, 2024 (the “Reward Date”) in the My Rewards page of the Webull app. Offer Rewards not claimed by the Claim Date will expire and cannot be reissued.

• Webull reserves the right to either decline to grant the Offer or requests to enroll in the Offer in its sole discretion, including for, but not limited to: (1) Transfer Fee Reimbursement per social security number; (2)cryptocurrency and options are excluded from this Offer; (3)any securities or other investments transferred via ACATS that are not tradable on the Webull platform, such as mutual funds or over-the-counter (OTC) shares, may be liquidated or rejected and may not be included in the calculation of Account Value; (4) failure to meet the requirements and qualifications of the Offer; (5) actual or suspected fraudulent activity; (6) attempting to undermine the legitimate operation of the Offer by cheating, hacking, deception, or other unfair or improper conduct (including, without limitation, the creation of multiple accounts and/or inducing referrals by the payment of compensation), or (7) any violation of these Terms and Conditions. Webull reserves the right to change the terms or terminate the Offer at any time without notice. If, for any reason, the Offer is not capable of running as planned including, but not limited to, by reason of tampering, unauthorized intervention, labor dispute, fraud, or any other cause beyond the control of Webull which, in the sole opinion of Webull, corrupts or affects the administration, security, fairness, integrity or proper conduct of the Offer, then Webull reserves the right, in its sole discretion, to cancel, terminate, modify or suspend the Offer.

• The Offer is limited to no more than one account enrolled per customer. The Offer is not transferable or saleable and is available to legal U.S. residents only.

• This Offer is valid alongside other promotions offered by Webull.

• Employees, contractors, or persons similarly associated with Webull or its affiliate(s); members of their household; Webull Influencers; registered representatives of broker-dealers; employees of any securities regulator, self-regulatory organization or securities exchange; and/or employees of any market maker are not eligible. The Offer is only available for personal use and may not be used for commercial purposes. Other restrictions may apply.  Void where prohibited. No substitution, cash redemption, assignment or transfer permitted, except by Webull, who reserves the right in its sole discretion to substitute Stock Reward with another prize of equal or equal value.

• All federal, state, and local taxes, if any, related to a prize are the responsibility of the individual winner.

• Not Advice: Neither receipt nor identification of a particular stock in communications related to this Offer constitutes a solicitation, recommendation to buy, sell, or hold, or investment advice. Consult with your tax advisor about the appropriate tax treatment for this Offer and any tax implications associated with receipt of a stock reward before enrolling.

• Where required by applicable rules and regulations, the value of all Webull offers received may be reported as Other Income on Form 1099-MISC. Webull is not responsible for any taxes related to this Offer or any stock reward program.

Our Verdict

It sounds like the $100 the Transfer Fee Reimbursement is automatic. Regardless, $1,200/$1,300 for transferring $100k is an excellent bonus when compared to other brokerage bonuses. A lot of the other tiers can be very interesting as well. (You should also get 6-12 free stocks, per the offer page, so that would be another $18 value or more.)

The terms do confuse me somewhat, but I believe the way it works is as follows:

• Open a new WeBull account between October 2nd through 30th. I believe any new WeBull customer who opens (or opened) an account any time from October 2nd through October 30th will be eligible for the bonus. But be sure to check that you received the notification of the bonus after opening the account. (“Qualifying Customers will receive an invitation to participate in this promotion either through e-mail or push notification within the Webull mobile app.”).
• Transfer over your assets by January 29, 2024. Based on your total assets transferred by that date will determine your bonus. Update: another interpretation is that the funds have to be transferred over by October 30, 2023. Readers have heard from WeBull reps that the transfer has to be initiated by October 30th.
• • I believe you can do multiple smaller transfers and count them all together, e.g. transfer over two separate asset transfers of $50k each will get you to the $100k tier. But the fine print confuses me a bit on this point.
• Claim your bonus on January 30, 2024 in the app. There are conflicting terms in the fine print about whether you have to manually claim the reward or it will post automatically. Incredibly, one point in the fine print sounds like you have to claim the reward within the app on the very same day that it becomes available or else it will be forfeited. I’m probably misunderstanding something in the terms.

We’ll add this to our List of Best Brokerage Bonuses. Feel free to share experiences with WeBull in the comments below.

WeBull also has a separate cash bonus for cash deposits to their Cash Management account which we cover in this dedicated post. See that post and the verdict there for more interesting discussion.

Hat tip to reader 007