How to: Open Webull Account | Investing Account

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By Miguel Dos Anjos

How to Open Webull investing account:

Webull is an investing platform that provides free stocks and ETFs trading.

Some of the questions and steps are similar, or the same no matter which platform you are opening an investing account with.  

Disclaimer: I am not a financial adviser. This is not financial advice. I am just sharing with you what I did and my experience doing it.

Take in consideration your specific situation. Do your diligent research and consult a financial adviser before making life changing financial decisions.

To start just click my link: Open Webull account.

You can also go to Webull.com or use somebody else’s link, but if you click my link you will get 2 free stocks and I get 1 free stock.  

You will get a free stock between $2.50 and $250 when you open the account. And you get a free stock between $12 and $1400 when you fund your account with $100.

I started a limited partnership with Webull. They provided me the promotional link.

I started writing this post and using the Webull application for my investing before receiving a link from Webull. The account opening process is very fast, simple and easy. I will go over all the steps with you sharing my experience and how I did it.

If after you get your free stocks you decide to invest; the market past performance is not a guarantee of future performance. I love investing to grow money but when investing one could lose money.

 

To Open Account

After you clicked the link it will bring you to the Webull page. You can open the account on a computer or phone device. The process was very easy, simple, clear and fast.

Click “Open an account”. And it will bring you to the following page. Webull will ask you if you prefer a mobile sign up or an email sign up. They will send you a security code.

It asked me for first name and last name. Middle name was optional. Gender, birthday. Status: Single, married, divorced or widowed status.

Number of dependents, social security number, nationality, and address.

A new page opened and they asked for employment status. Put down your employer name. This is not to qualify or disqualify you. Even if you put unemployed you can still open the account. Click continue.

Following page asks you how much experience you have. You’ll have 4 options from extensive, good, not much, and none. With my few years doing this I put good.  

Investiment objective: speculation, growth, income or preservation of capital. I believe I put growth.

How long you plan to invest your money? 7 or more years, 4 to 7 years, or less than 4 years.

The global market is often volatile if your entire investment portfolio lost 10% value in a month in a market decline what would you do? Keep all or buy more, sell some, or sell all your investments. I put keep all and buy more.

Then it will ask how important liquidity is to you? (Liquidity means cash, or investments that can quickly be turned to cash) Very important, somewhat important, or not important.

Approximate yearly income. They give you options from 0 to $1M.

Approximate total net worth.

Approximate value of total cash and liquid investments.

Then it will ask for ID. A driver’s license or passport picture.

After that they ask you if you or a family member owns 10% or more share in a public traded company.

Are you a politically exposed person?

Are you a member of a firm of a stock exchange or Finra register broker?

They were all “No” to me. I believe they ask this because “these type of people” have inside knowledge that regular people don’t have.

 

Account Types: Margin or Cash

Then they ask which account type you desire to open? Margin or cash?

I put cash. Margin basically means you would like to borrow money to trade. I personally don’t do that. I only invest money that I do have.

 

Trading Privileges: Stocks, ETFs and Options

For trading privileges it will display Stocks, ETFs, and Options. I believe I selected stocks and ETFs. Options has not been part of my strategy so far. I did buy ETFs when I started investing. But now I focus on individual stocks.

Check out my “How to Invest in the Stock Market” video to know if ETFs, mutual funds or individual stocks are best for you.

I clicked continue. They showed me the agreement and disclosures.

Then they allowed me to provide my electronic signature. 

Asked for my email so I could get their news and updates.

After that I got a congratulations messege and my application was submitted for approval. Usually a new account is approved within 2 to 3 business days. Within an hour or so I got the approval messege.

I got my free stock.

1 in 10k people get a stock above $1k.

1 in 1k people get a stock above $100.

To be honest I liked the platform and the resources it has to offer but the free stocks; were an extra perk. And I love free stuff!!

 

To Fund the Account

Then to fund the account I did not want to get charged any fees. So I searched everywhere and found 3 types of transfer. From what was offered to me: 1- Wire transfer costed 30 bucks. 2- Next day transfer costed 10 bucks. And 3- ACH transfer costed 3 bucks if initiated from my previous bank. So the secret for the process to be free was to do the ACH transfer initiated from the Webull app. It took about 5 business days. All the transfer I’ve done have been free. Depending on the bank you use they will only allow ACH transfer from a checking accounts and not from a savings account.

If using a savings account and your other bank does not allow it; the transaction may not go throw and there may be a fee.

After 5 business days; the $100 deposit got cleared and I got my second free stock.

 

Phone and PC Application

You can trade on the phone app or download the platform for windows or mac. And use the app there.

For the moment you have to open the free stocks on the phone app.

They have a paper trading platform to practice, and play around with.

 

Roth IRA (Individual Retirement Account)

They allow you to open a Roth IRA, which is an Individual Retirement Account.

This is in my opinion one of the best investments there is. If you know and choose the right companies or if you invest in ETFs that replicate the market.

This is an account created to help us prepare for the future. It is tax free so there is a limit every year on how much we can put there. But all the growth inside of this account is tax free as long as we access it after age 59 and a half. For this year of 2020 and last year 2019 they allow to put $6k. They have not announced the amount for next year.

You can create your watch list, and check markets on the app. On the community section on the app it displays the news. Whenever I’m buying stocks, usually in the morning, before buying I check how China and other market indexes are doing. Often times it affects how the US market will behave for that day. And the news cycle also influences individual stocks and the market.

 


Customer Support

The customer support was awesome.

You can call 8 am to 4 pm, Mo to Fr. But in app messages and emails get answered in detail and fast. Any questions I had were quickly addressed and clarified by a person. I never got a bot messege or a generic message or anything like that.   

 

Any questions thoughts, and comments you have leave them down below in the comment section! Do let me know which free stocks you got. Feel free to check out my YouTube channel: Make / Save / Invest, or email!

Thank you so much for being here. I am always coming up with content related to my experiences making money, saving and investing. Have a wonderful day.


📈 Webull (get your 2 free stocks):

 

🌐 Check my YouTube channel with more videos on this topic here: Make / Save / Invest

 

📚 Get my new book “Becoming Financially Free”:

 

📚 Book: “Making Money While Sleeping”:


👉Check my other posts here: All Posts

 

📑 Leave your comments and ideas down below!


💖 Thanks for being here!!

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