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 2 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 a free stock worth between $2.50 and $250
- Deposit $100 or more into your Webull account
- You’ll then receive a second free stock worth between $8 and $1,600
At a minimum, you’ll receive $10.50 worth of free stock for a $100 deposit, which is an instant return of 10.5% on your $100. 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, even though I don’t think Webull is a particularly good app, I do think it’s worth opening an account solely to get the signup bonus and give yourself the option to earn more 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 With $100 Or More
Once you’ve opened your Webull account, fund it with $100 or more. The terms state that you have to make your initial $100 deposit within 30 days of opening your account, so 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 $100 loses value.
3. Once Your Funds Settle, You’ll Get Your Free Stock 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 stock within 15 trading days.
4. Claim Your Free Stock In The App
The annoying thing about Webull is that they make you claim your free stock, rather than posting it 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 stock, 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 stock will post into your account within 10 business days. After that, you can either keep the stock or sell it and withdraw your funds.
As to the type of stock 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.
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.