Webull Referral Bonus - Step-By-Step Guide

Webull is a free stock trading app that allows you to buy and sell stocks with no fees or commissions. The app is similar to Robinhood or Public in that it makes buying and selling stocks very easy for the average investor. Webull is also offering a referral bonus where you can get 5 free stocks after opening a Webull account and making a deposit into your account. To earn your Webull referral bonus, you have to do the following:

Open a Webull account using a referral link (here is my Webull referral link).
You’ll immediately receive two free stocks worth between $3 and $300.
Deposit any amount in your Webull account
You’ll then receive an additional three free stocks worth between $7 and $3,000.

At a minimum, you’ll receive $27 worth of free stock for a deposit of any amount. In my experience, the stocks you receive are more valuable than that, so you should ideally earn more for your deposit.

In the remainder of this post, I’ll walk you through exactly how to earn your Webull referral bonus and provide some more information about what Webull is and how it works.

What Is Webull?

Webull is a free brokerage app that allows you to invest in both individual stocks and exchange-traded funds (ETFs). The app offers both taxable brokerage accounts and tax-advantaged accounts in the form of IRAs and Roth IRAs.

Importantly, Webull charges no commission fees or management fees, which means you can use Webull to buy and sell stocks for free. There are several similar apps like this on the market – Robinhood comes to mind and works in essentially the same manner.

If you’re looking for a brokerage account to buy and sell individual stocks and ETFs, Webull is fine for this, but not one I would particularly recommend as a primary investment account. My main issue with Webull is that I find the interface confusing and not particularly user-friendly.

That said, I do think it’s worth opening an account with Webull solely to get the signup bonus and give yourself the option to earn more bonuses by referring friends and family members. Since it’s free, there’s really no downside.

Webull Referral Bonus Step-By-Step Instructions

Here are the step-by-step instructions you can follow to earn your Webull referral bonus:

1. Open Your Webull Account Using A Referral Link

The first step to earn your Webull referral bonus is to open a Webull account using a referral link. Here’s my referral link if you want to earn your Webull bonus and support this site.

You’ll need to open an individual taxable account. I believe Webull calls this a cash account. Do not open an IRA or Roth IRA, as those types of accounts are not eligible for the signup bonus.

Note that Webull does not do any credit checks, so opening a Webull account has no impact on your credit.

2. Fund Your Webull Account Any Amount

Once you’ve opened your Webull account, fund it with any amount. Be sure to do this right away so that you don’t forget. It takes 5 business days for your deposit to settle.

The important thing to know is that you don’t actually have to invest the funds that you deposit. If you’re not planning to actually use Webull and are just looking to get the free stocks, then you should leave your deposit as cash in your Webull account. That way, you can withdraw it later without any risk that your deposit loses value.

3. Once Your Funds Settle, You’ll Get Your Free Stocks Within 15 Trading Days

After you make your deposit, you’ll have to wait a few days for your funds to settle (Webull states it takes 5 business days for your funds to settle). Once your deposit settles, you’ll get your free stocks within 15 trading days.

4. Claim Your Free Stocks In The App

The annoying thing about Webull is that they make you claim your free stocks, rather than posting them automatically in your account. You can only claim your free stock via the Webull app, so you’ll need to download the app to claim your stock. When your free stock is available, you should receive an email and a push notification telling you to claim it.

To claim your free stocks, open the Webull app, click the “menu” button (this should be in the bottom right corner of the app), click “my free stock”, then click the “get” button. Your free stocks will post into your account within 10 business days. After that, you can either keep the stocks or sell them and withdraw your funds.

As to the type of stocks you’ll receive, Webull has different odds based on the value of the stock. You essentially have a 1% chance of getting a very high-value stock such as Google or Facebook. Much more likely, you’ll get a lower value stock. In my experience, it seems like the stocks tend to be in the $15 to $30 range, but let me know in the comments if you’re seeing differently.

Refer Your Friends For More Webull Referral Bonuses

One reason I recommend opening a Webull account is so that you can use your own referral link to refer people and make some more money (while also helping your friends and family too). When you open a Webull account, you will receive a referral link that allows you to refer other people.

To find your referral link, go to the section in the app where you can claim your free stock (click menu, then click my free stock). At the top of the page, you’ll see a button that says “invitation bonus.” Click that, then click “invite now” to get your referral link.

If you have a spouse or partner, this is an easy way to make Webull work for you even more. Open your own Webull account first and get your referral bonus. Then refer your spouse or partner. You’ll get a bonus for referring them and they’ll get a bonus for using your link. If you do this, you’ll end up getting 3 bonuses without having to do much work.

Final Thoughts

I consider Webull an average investing app. If you’re looking to invest in individual stocks or ETFs, it does the job. Importantly, it’s free and charges no fees or commissions, so there’s no real downside to using Webull as your investment app.

My main problem with Webull is that I find the app clunky and not particularly intuitive. I consider myself knowledgeable when it comes to investing and even I have difficulty figuring out where everything is within the Webull app. I’m also not a fan of investing in individual stocks, so apps like Robinhood and Webull don’t really fit within my investment philosophy. Instead, I’m a fan of passive index investing, so an app like M1 Finance makes more sense for me.

That said, Webull does offer free stocks simply for depositing a small amount into the account, which you can then pull out immediately. As a result, I do recommend using Webull to at least get your free stocks. They’ve been doing this promotion for years and I have no idea when they’ll stop giving away free stocks, but it’s best to take advantage of these things while you can.

More Recommended Ebike/Scooters

Check out these other ebikes/scooters I've had the chance to do a review for:

GEN3 Outcross Bike – The GEN3 Outcross is a solid, affordable fat tire ebike that does a good job of doing what I need it to do. It works great for city riding, giving me a smooth ride in all conditions. It’s works really well as a winter ebike since the fat tires give it good traction over snow and ice. Check out my GEN3 Outcross Review.
Himiway Escape Bike – The Himiway Escape is an interesting bike for anyone looking for a moped-style ebike. If you’re a gig economy worker, the Himiway Escape is particularly interesting and it’s possible to think of it as an investment, especially if you can opt to do deliveries with the Himiway versus using a car. It’s not cheap, but you can definitely make your money back when you compare the mileage you’ll put on your car versus using an ebike. Check out my Himiway Escape Bike Review.
Espin Sport Bike – The Espin Sport is a good ebike for someone who is looking for an ebike that feels and rides more like a regular bike. There are many ebikes that are really only bikes in name. In reality, they’re basically electric mopeds. The Espin Sport, by contrast, is a bike you could probably ride without the battery and you’d feel like you’re just riding a regular bike. Check out my Espin Sport Review.
Varla Eagle One Scooter – The Varla Eagle One is an excellent scooter that can make sense for a lot of people. It can work as a primary mode of transportation. You can use it to work on gig economy apps like DoorDash, Uber Eats, and Grubhub. And it can also be a recreational vehicle if you’d prefer to use it for that. Check out my Varla Eagle One Review.
Fucare H3 Scooter – The Fucare H3 is a fun scooter and I’ve enjoyed testing it out. For a daily commuter or quick trips or errands, the Fucare H3 is probably the scooter I’ll use. It’s portable and easy to maneuver, so it’s just easier to take on the road when I need it. Check out my Fucare H3 Scooter Review.

More Recommended Investing App Bonuses

For additional investing app bonuses, be sure to check out the ones below:

M1 Finance ($10) – This is a great robo-advisor that has no fees and allows you to create a customized portfolio based on your risk tolerance. You also get $10 for opening an account. Check out my M1 Finance Referral Bonus – Step-By-Step Guide.
SoFi Invest ($25) – SoFi Invest is an easy brokerage account bonus that you can earn with just a few minutes of work. Use my SoFi Invest referral link, fund your SoFi Invest brokerage account with $100 and you’ll get $25 of free stock. I also have a step-by-step guide for the SoFi Invest referral bonus.
Moomoo (5 free stocks) – Moomoo is a free investing app currently offering 5 free stocks (usually worth around $75-$100) if you open an account using a referral link and deposit $2,000. Read my Moomoo referral bonus guide for more information.
Webull (5 free stocks) – Webull also gives you 5 free stock valued between $3-$3,000 each if you open an account using my referral link. Here’s a guide I wrote about how to earn your free stocks using Webull.
Robinhood (1 free stock) – Robinhood gives you a free stock valued between $2.50-$225 if you open an account using my referral link.
Public (1 free stock) - Public gives you a free stock valued between $3-$70 if you open an account using my referral link.

More Recommended Bank Account Bonuses

If you’re looking for more easy bank bonuses, check out the below options. These bonuses are all easy to earn and have no fees or minimum balance requirements to worry about.

Chime ($100) - Chime is a free bank account that offers a referral bonus if you use a referral link and complete a direct deposit of $200 or more. In practice, any ACH transfer into this account triggers the bonus. This bonus is easy to earn and posts instantly, so you’ll know if you met the requirements as soon as you move money into the account. I wrote a step-by-step guide on how to earn your Chime referral bonus that I recommend you check out.
Upgrade ($100) – Upgrade is a free checking account that’s currently offering a $100 referral bonus if you open an account and complete three debit card transactions. These bonus terms are easy to meet, so it’s well worth doing this bonus as soon as you can. Importantly, this bonus says that it’s now scheduled to end on October 31, 2022. As long as you get your account opened before October 31st, you should be eligible. Here’s a post I wrote with more details: Upgrade $100 Referral Bonus – Step By Step Directions.
SoFi Money ($350) – SoFi Money is a free checking account from SoFi. They’re currently offering a $25 referral bonus if you open a SoFi account with a referral link and deposit $10. You can also make an additional $300 as well if you complete a direct deposit. This is a good bank that is also 100% free, so you won’t have to worry about managing this account. Here’s a post I wrote with instructions on how to earn your SoFi Money bonus: SoFi Money Referral Bonus: Step By Step Guide.
Fifth Third Bank ($250) – This offer is limited to customers in the following states: Florida, Georgia, Illinois, Indiana, Kentucky, Michigan, North Carolina, Ohio, Tennessee, West Virginia, and South Carolina. If you don’t live in one of those states, you won’t be able to open an account online but you can still open an account in-branch if you happen to be visiting a city that has a branch. This is a fairly easy bank bonus to earn, especially since there are plenty of data points showing what will trigger the direct deposit requirement. In addition, you can open the Fifth Third Momentum Checking bank account, which comes with no monthly fees or minimum balance requirements. Read my guide on this bonus here.
Current ($50) – Current is a free fintech bank that’s offering new users a $50 referral bonus after signing up for an account using a referral link.Current is an easy bonus to earn and also gives you access to three savings accounts that pay you 4% interest on up to $2,000. That means you can put away up to $6,000 earning 4% interest. That’s very good and makes Current an account I recommend to everyone. Check out my step-by-step guide on how to earn your Current Bank bonus.
OnJuno ($100) – OnJuno is a fintech/neobank that is currently offering a $100 referral bonus if you open an account using a referral link and complete a direct deposit of $250 or more. The account has no fees or minimum balance requirements. Even better, the bonus posts immediately after you meet the requirements. If you can meet the direct deposit requirements, OnJuno is an easy bank bonus that’s worth snagging. Check out my OnJuno referral bonus guide here.
Varo ($50) – Varo is a free fintech banking app similar to Chime or Current. It’s currently offering a $50 bonus to new users that open a new Varo account with a referral link. The bonus for this bank is very easy to meet, all you need to do is spend $20 within 30 days of opening your Varo account. Check out my step-by-step guide to learn how to earn this bonus.
Fairwinds Credit Union ($100) – Fairwinds Credit Union is offering a referral bonus for users that sign up using a referral link. Fairwinds has no fees or minimum balance, so this is a particularly easy bonus to earn. Since this is a smaller credit union, my gut instinct tells me this offer won’t be around long, so if you’re in a position to meet the bonus requirements, grab this bonus before it’s gone. Here is my step-by-step guide on how to earn your Fairwinds Credit Union bonus.
Novo Bank ($40) - Novo bank is a free business checking account that’s currently offering a $40 bonus if you open a Novo business checking account using a referral link. In addition to being a good bank bonus, Novo is also a good business checking account. It has no monthly fees or minimum balance requirements and operates a good app and website. Indeed, it’s the business checking account I currently use for this blog. Check out my post on how to easily open a Novo account.
Spiral ($50) – Spiral is a fintech bank that's currently offering new customers a $50 signup bonus after opening a free checking account with them. The Spiral referral bonus is especially good because it's a free checking account and doesn't require a direct deposit to earn the bonus. Here is my step-by-step guide on how to earn your Spiral Bank bonus.
One Finance ($50) – One Finance is a fintech bank that’s currently offering a $50 signup bonus if you open an account using a One Finance referral link and have a direct deposit of $250 or more. This is a completely free bank account with no minimum balance requirement, so if you can meet the requirements, it’s worth doing. Check out my One Finance referral bonus guide here.
Albert ($150) – If you can manage to do a real direct deposit, Albert is an easy account you can use to earn a referral bonus. Here’s a review about Albert I wrote. And here’s a step-by-step guide on how to earn your Albert referral bonus.
Netspend ($20 + 5% Interest Savings Account) – Netspend is a company that provides 5% interest savings accounts. If you sign up using my referral link, you’ll get a $20 signup bonus once you make your first deposit into your Netspend account of $40 or more. That means you get a 5% interest savings account and a free $20 to start! Make sure to check out my in-depth guide on how to set up these accounts.

Kevin is an attorney and the blogger behind Financial Panther, a blog about personal finance, travel hacking, and side hustling using the gig economy. He paid off $87,000 worth of student loans in just 2.5 years by choosing not to live like a big shot lawyer.

Kevin is passionate about earning money using the gig economy and you can see all the ways he makes extra income every month in his side hustle reports.

Kevin is also big on using the latest fintech apps to improve his finances. Some of Kevin's favorite fintech apps include:

SoFi Money. A really good checking account with absolutely no fees. You'll get a $25 referral bonus if you open a SoFi Money account with a referral link, and an additional $300 if you complete a direct deposit.
Upgrade Bank. Upgrade is a free checking account that’s currently offering a $100 referral bonus if you open an account and complete three debit card transactions. These bonus terms are easy to meet, so it’s well worth doing this bonus as soon as you can. Note that it’s now scheduled to end on October 31, 2022.
Novo Bank. Novo bank is a free business checking account that’s currently offering a $40 bonus if you open a Novo business checking account using a referral link. It’s the business checking account I currently use for this blog.
M1 Finance. This is a great robo-advisor that has no fees and allows you to create a customized portfolio based on your risk tolerance. You also get $10 for opening an account.
Personal Capital. One of best free apps you can use to monitor your portfolio and track your net worth. This is one of the apps I use to track my financial accounts.