Webull Account Opening and More Useful Information (2024)

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First you need to fill a registration form to apply for an account. Your application needs time to be verified [1 day] after which you can deposit and start trading.

Webull account opening step-by-step guide

1. Go to Webull's website to start the account opening process.
2. Follow the account opening process: it is self-evident, but you might need help at some point. Don't worry, we cover the main issues here.

Which Webull account to choose?

If you want to explore the possibilities offered by this broker, you will need to choose an account type, and for that, you should consider how experienced you are in trading and investing.

We have more details about the available account types in our review for you to explore.

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Which base currency to choose?

Webull has 1 base currency available, which is USD.

You might have to pay a conversion fee if:

• You trade with assets not in USD
• You make a deposit in a different currency other than USD

Once you have filled the form, uploaded your documents, chose your account type, base currency and finished the trading survey, Webull will verify your account very shortly.

Why do I need to fill the trading experience survey?

It might seem scary at first, but it is nothing to worry about. This is standard procedure, as brokers need to make sure that you have a basic financial knowledge and you are aware of the risks of trading.

Also don't worry if the broker asks questions about your financial background e.g. your available assets, salary range. This is also part of the risk assesment process - to make sure you don't take on investments and trades you can't afford.

To do your first trade, you have to fund your account. Generally, brokers offer a Bank transfer / ACH / Credit or debit card / E-wallet transfer solution.

Is there a minimum deposit at Webull?

Luckily, no. You can deposit to Webull, without having to do a large commitment.

Also, if you feel like this service is not your cup of tea: no worries. You can opt out and withdraw your funds anytime.

If you received your verification email, you are good to go to fund your account and start investing!

Here's how to start after funding your account:

• First, check the products on the platform. You can also search for assets using its search tool,
• Here, you'll see a list of assets by certain categories, like asset classes,
• Click/tap on an asset to see its chart,
• After this step, it is easy to specify the transaction size, order types, and terms.

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Yes, Webull can be considered a legit broker, as it is regulated by at least one top-tier regulator, which is a great sign for reliability.

For you, this means that your money is in good hands and you will most probably not become a victim of a scam by Webull.

Throughout the account opening process at Webull, you won't be required to pay anything to create your account. Also, you can close your account anytime you like.

Every time you are planning to dive into finances, make sure you know who you trust your money with. Make sure that the broker is considered trustworthy. We, at BrokerChooser, only recommend regulated brokers on our site, meaning the broker's operations are overseen by a trusted body.

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You are awesome for having read through this article! Opening an account might seem cumbersome at first, but the best time to start dealing with your finances is always right now.

We want to help you along the way, so if you are stuck somewhere, have a question, or a suggestion, please drop us an email at [emailprotected].

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Do I need SSN for Webull?

No, not necessarily. If you don't have a Social Security Number (SSN), you can also open an account with a validITIN(Individual Taxpayer Identification Number).

Is my money safe in Webull?

Yes, users are protected up to a certain amount. Depending on your country of residence, you will be onboarded to an investor protection scheme, which protects your securities and/or cash at Webull.

• Residents from the US will be under SIPC protection, covering$500,000, which includes a $250,000 limit for cash.
• Residents in Hong Kong will be protected up toHKD 500,000 for securities, however, there is no protection for cash.

Is Webull better than Robinhood?

Webull and Robinhood have lots of similarities in terms of services and fees, butWebull is a bit more sophisticated: it has a desktop platform apart from a mobile and web platform, and is also good for IPOs, while trading cryptos is cheaper at Robinhood.

Honestly, it comes down to personal preferences at this point.

Does Webull affect credit score?

No, as far as we are concerned, your activity on Webull won't affect your credit score.

How much does it cost to open a Webull account?

Nothing. Opening and using a Webull account is free of charge. There are also no inactivity or account fees.

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