Update 1/6/2021: Deal is back, slightly different this time:
- Deposit $25,000-$99,999 = 25 free stocks
- Deposit $100,000-$250,000 = 35 free stocks
- Deposit $250,000+ = 60 free stocks
Hat tip to reader Mark E
Update 9/8/20: Deal is back and valid 9/8 – 10/8
Update 7/19/20: More people targeted. This time the offer is:
- $5,000-$9,999: Receive 8 free stocks
- $10,000-$24,999: Receive 15 free stocks
- $25,000-$99,999: Receive 25 free stocks
- $100,000 – $250,000: Receive 35 free stocks
- Deposit $250,000+ and receive 60 free stocks
Update 7/7/20: Deal is back for 7/05/2020 – 8/04/2020
Update 5/23/20: Deal is back for 5/20/2020 – 6/20/2020. Funds have to stay in the account until 7/31/2020. Hat tip to reader Nate & Phil
Update 4/26/20: Deal is back for 4/24/2020-5/6/2020. Again, this is targeted. (ht reader ck)
Contents
The Offer
Shows up in app if targeted
- Between 5/20/2020 – 6/20/2020, Webull is offering some free stocks based on how much you deposit (not including however much you’ve already deposited before the promotion). Each stock is valued between $9 – $1000.
- Deposit $10,000-$24,999 and receive 10 free stocks
- Deposit $25,000-$94,999 and receive 25 free stocks
- Deposit $100,000+ and receive 35 free stocks
Our Verdict
Markets are exceptionally volatile at the moment, so not sure this is enough of an incentive for most people to invest.
Hat tip to reader Paranoid
Just claimed 35 stocks for depositing $100,000
2x GE
1x SBUX
22x AR
7x ZNGA
3x ERIC
Total value just under $720. Not bad for tying up the money for ~30 days.
Might’ve gotten lucky with the 2 shares of GE. It’s likely meant to be a $12 stock for the purposes of this promo, but just underwent a reverse split a couple of days ago.
In 3 previous iterations of this promo I hadn’t received anything valued higher than $15.
Deposit $100-$1999: 1 free stock
Deposit $2000-$4999: 2 free stocks
Deposit $5000+: 3 free stocks
https://act.webull.com/actv2/routine/welcome-back/us/index.html
Anyone interested in the Transfer Promo who hasn’t started yet should probably start setting things up now.
My ACATS transfer from Ally still hasn’t finished processing after a full week.
Looks like as long as you initiate it by 3/29 you are good according to the T&C’s
Much like the deposit bonus, free stocks are awarded in tiers based on the value of your account transfer:
$2,000 – $9,999: 5 Free Stocks
$10,000 – $24,999: 10 Free Stocks
$25,000+: 25 Free Stocks
I can’t see anything in the terms excluding users who participated in the recent deposit promotion, so with a holding period of only 7 weeks or so, this seems like a really good deal if you have another brokerage account you can transfer over.
I copied the Terms and Conditions to this album:
https://imgur.com/a/AUtvs8C
“If you qualify for this promotion, you must initiate the account transfer between 03/02/2021 – 03/29/2021…”
“…clients can only claim their stocks on 04/20/2021.”
So the holding period could be as short as ~3 weeks if you transfer toward the end of the promotion period.
I wonder if a cash position counts towards the promotion.
It could be as short as 3 weeks, but in practice you probably don’t want to wait that long, since they can pull the offer at any time.
And I should think anything coming through the ACAT system ought to count, be that cash or otherwise. I’ll probably be making an all-cash transfer myself.
I wonder if we can do a partial account transfer, want to transfer only the cash portion from my other brokerage account so that way i can retain the cost basis info
I have the same or similar question:
I have never done one of these brokerage bonuses before. In my email it says “Been thinking about transferring your brokerage account to Webull?”
Does that mean I could transfer 25k funds from my savings account to my brokerage at morgan stanley, then transfer that 25k funds to Webull and be eligible for the 25 stock bonus? Or does that email mean I have to transfer the whole morgan stanley brokerage account in excess of 25k or more?
this should work, i read the terms over and over again and i saw on reddit that as long as value is over $25k it is ok, cash is considered asset
Do we only have 1 day to claim the bonus stocks?
I wonder if we can do an partial account transfer
Do you know if there was the other offer available with Deposit $250K+?
This might be a great option for those who have a brokerage account that is sitting idle from past bonus e.g. Ally Invest, Schwab, etc. Just throw in $25,000 in a money market or short term bond ETF. After it clears transfer the entire thing to WeBull.
From the promo e-mail I received on Jan 1:
“You will be able to claim your free stocks on 3/02/2021.”
Assuming everything works as advertised, we should see our free stocks tomorrow.
Was sent an email reminding me to claim my stocks this morning. Here’s what I got:
16x F
8x ZNGA
1x JBLU
Worth about $300. Have to wait until 3/22 before they settle and can be sold though.
That’s a nice haul. Mine were worth about $250 initially but have gone up about 35% since I got them to $360. Good timing, got ZNGA, HPE, SAN, LEVI. The last three in particular really gained in value. I have no need to sell, just going to enjoy the free ride.
Webull sent me a 1099-MISC for 2020 showing the free stocks as income even though it was under $600. (It was on a combined form that also included 1099-DIV, 1099-B with non-zero values). (I downloaded it after an email on Feb 13 said it was available.)
Yup that’s expected. Any stock transaction has to be reported and I think bonuses just have cost basis = 0.
The usual situation I’ve had at other brokerages is that the free stock isn’t reported when you receive it (unless the value is $600 or more (1099-MISC)), and just a 1099-B applies when you sell the stock, or 1099-DIV for dividends. Even Webull, in 2019, only sent me a 1099-DIV, no 1099-MISC (even though they used a consolidated 1099 form that could’ve had 1099-MISC on the same form), for free stock received in 2019.
But usually I sell the stock in a different year than I received it. In 2020 I received free stock and sold it in the same year. So maybe Webull sends 1099-MISC if they’re also sending 1099-B. Or maybe they now always send 1099-MISC.
I don’t have an account with them yet. how do I get target offer like this? or should I apply for an account first?
I wish they would give you penny stocks that have a chance of going up in value. When I joined in 2018, they gave me genworth financial, which I sold then but now has lost half of its value since then. Then last year when I referred people, they gave me a bunch of general electric which I sold then.
but how? stonks only go up!
Received a targeted email on Jan 1:
“Duration: 1/01/2021 – 1/31/2021
Tiers:
Deposit $25,000-$99,999 = 25 free stocks
Deposit $100,000-$250,000 = 35 free stocks
Deposit $250,000+ = 60 free stocks
You will be able to claim your free stocks on 3/02/2021. Before then you CANNOT withdraw or transfer out the deposit in order to claim the free stocks.”
Had you done a similar offer before?
No. I’d just opened the account the week prior.
I signed up with them last month but not a trading account.. just to use their platform for charts. Did you actually sign up for a trading account and not deposit?
I deposited 25k and got 25 free stock on 11/26.
Not much big guys..Most of them are Ford, HPE and Jet blue 1.
These stock are in transit and est delivery date is 12/16.
Can i withdraw my money now or should i wait until 12/16?
Please help.