Updated 6 free stocks for new account, $600 transfer promos. Webull is a brokerage app (PC and web version also available) that has $0 stock trades, $0 options trades with $0 per contract fees, free real-time quotes, and no minimum balance requirement. (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.

New account bonus details. Right now, WeBull is offering new accounts up to 6 free shares of stock:

  • Open an account with Webull and get 2 free stocks valued between $3 and up to $300 each.
  • Link your bank and deposit any amount to receive 4 additional free stocks valued between $7 and up to $3,000 each.

Here is my Webull 6 free stocks referral link. Let’s be upfront and realistic here. The theoretical max total might be $12,600 but this is essentially a scratch-off lottery ticket where most people will get the minimum payout in the $34 range, but you also have a small shot at various larger prizes. The referrer gets some free shares as well, and I have received shares of TEVA, SNAP, SBUX, VG, and even one AAPL (pre-split, now worth $568) so some folks do get lucky. Thanks if you use it! After you get the new user bonus, you can refer other people as well.

Here are the full odds for the initial deposit bonus:

$7 to $30 value, odds are ~1:1.02
$31 to $100 value, odds are ~1:52.63
$101 to $1,000 value, odds are ~1:1111.11
$1,000 to $1,600 value, odds are ~1:10,000

Once you receive the stock and it settles, you can just sell it if you don’t want to keep it. Webull is a legit SIPC-insured broker, and the required information is the same as other brokers (name, address, SSN, work questions, investing experience questions, etc). 1

The nice thing about this bonus is that it doesn’t tie up any cash. You could open and fund with $1 and get your free scratch-offs.

Account transfer bonus details (both new and existing customers). WeBull is also running an account transfer promo, where if you transfer assets from another brokerage firm over to WeBull, they will offer the following bonus structure:

  • Transfer fee reimbursement up to $75 with ALL transfers of $2,000+ in new assets
  • $80 of fractional AAPL shares with $5,000 to $24,999 in new assets
  • $200 of fractional AAPL shares with $25,000 to $249,999 in new assets
  • $600 of fractional AAPL shares with $250,000+ in new assets

Fine print on “Net Incoming Account Value”:

Net Incoming Account Value = Only transfers added to your account between 6/1/2022 12:00AM ET – 6/30/2022 11:59PM ET will be considered as your net incoming account value. If you were to withdraw or transfer out any amount between 6/1/2022 12:00AM ET –8/29/2022 11:59PM ET, it will be deducted from your total net incoming account value. The net incoming account value you have in your account on 8/30/2022 12:00AM ET will determine which tier’s reward you will receive.

This promotion is open to new and existing customers (grab the new account bonus above first, then activate this promo). However, note that if you have already transferred an account over to WeBull in the past, you are not eligible to participate in this promotion.

In comparison with historical brokerage transfer promos, these are pretty good numbers for the respective asset sizes. (Again, just sell the Apple shares if you don’t want to keep them.) I have done multiple transfer promos and as long as your broker has your cost basis correctly stored (download a copy for yourself beforehand just in case) and you don’t hold certain mutual funds (if so, just do a partial transfer instead), the transfers have all gone smoothly via the ACAT system. Works very well for buy-and-hold type investors of individual stocks and ETFs.

Bottom line. Webull is a brokerage app with free stock trades and free options trading with no contract fees. The feel is more of a full-featured traditional brokerage account shrunk into your smartphone. New users can earn free shares of stock and you can earn an additional bonus for transferring over assets from another brokerage firm.

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Webull Broker: New Account 6 Free Stocks, $600 Account Transfer Promotion from My Money Blog.

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