WeBull reinvest dividends

WeBull DRIP (Dividend Reinvestment Plan) in 2022

WeBull dividend reinvestment plan (DRIP) fee and enrollment for stocks, mutual funds, ETFs, and ADRs.

WeBull DRIP Plan

Right now, WeBull does not offer DRIP - dividend reinvestment plan. You will receive the dividend payment to your available cash balance. As an alternative, you can use a $0-commission broker TD Ameritrade that not only offers DRIPs but also mutual funds and bonds. Learn more...

TD Ameritrade Website

$0 commissions + transfer fee reimbursement.

Open TD Ameritrade Account

Webull Website

12 FREE stocks valued $34-$30,600 give-away at Webull.

Open WeBull Account

What is Webull?

Webull is one of the newest low-cost brokers to enter the trading scene, similar to competitors M1 Finance and Firstrade. This article will provide a quick summary of what Webull does well, and where they could use some improvement.

Free Trades

Webull’s big selling point is that trading is always commission-free with them, except for the regulatory and exchange-mandated fees (which most brokers pass through to clients and are usually quite small). This is in line with other relatively new brokers, like Robinhood and Firstrade. There are also no minimum account requirements or maintenance fees at Webull in order to qualify for the free trades; all you must do is open an account.

WeBull reinvest dividends

What Can I Trade?

Probably the biggest drawback to trading with Webull is the range of investments they currently offer, which is quite limited. You can trade most U.S.-listed stocks and ETFs, as well as options and cryptocurrencies but that’s it. Foreign stocks, penny stocks, mutual funds, futures, and bonds – none of these are currently supported by Webull.

It’s hard to imagine that the scope of their investment offerings would be so limited, especially when other “free” brokers are all offering a broader universe to trade. That said, it would not be surprising if Webull eventually rolled out some of these other assets on their platform as well.

Other Fees

As we already mentioned, there are no commissions and no account maintenance fees at Webull, but there are a couple fees to be aware of that are typical with most brokers. Webull will charge you between $8 and $45 for a wire transfer; however the more common ACH transfer is free. If you want to transfer your Webull portfolio to another broker this will incur a $75 fee.

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Trading Platforms

Webull has a website with a “Help” section that addresses the most common questions; however there is no account login page because all trading has to happen through their app. People accustomed to trading on their smartphone probably won’t care, but this could be a drawback for anyone who still prefers to do their trading on a computer.

Referral Program

Webull offers an incentive of two free stocks valued up $30,600 to for referring friends and family. Learn more about WeBull Referrals.

Customer Service

As mentioned previously, there is a help section on the website with answers to most questions that will come up. For any questions not addressed here, there is a messaging service within the app to contact customer service. The one drawback with Webull’s customer service is that they don’t have a customer service phone number, which can be frustrating for the questions that really require a human’s ability to process information.

Stock Information

Webull’s app provides the company information you’d expect from any broker, such as relevant news headlines, financials, analyst ratings, and stock charts. Webull also provides real-time market data, which is especially important for day traders.

Webull Dividend Reinvestment Plan Disclaimer

For the most recent information on Webull dividend reinvestment program (DRIP) visit their website.

About the Author
Chad Morris is a financial writer with more than 20 years experience as both an English teacher and an avid trader. When he isn’t writing expert content for Brokerage-Review.com, Chad can usually be found managing his portfolio or building a new home computer.