How Long Does Webull Application Take? (2022)

What are the residency, income, and deposit requirements to open a Webull brokerage or IRA cash or margin account in 2022? How long does Webull take to approve account?

Webull Application Requirements

Webull is one of the more popular brokers for new traders. The ease of use, various platform options, wide range of investment products, and the promotional programs on offer all help Webull stand out in an over-saturated market.

If you are wondering how you can apply for an account and take advantage of all that the broker has to offer, you have come to the right place. We’ll outline the process for you.

There are a few different account types to consider, but the application process is similar for them all.

Learn how to apply to Webull today! Read on for details.

How Long Does Webull Application Take?

The account opening process at Webull usually takes about a day, although it can take a bit longer. According to the broker itself, if the process takes more than 3 days for any reason, it is most likely due to the account creation team confirming some of the information provided in the application.

If the application takes longer than 3 days, it is a good idea to contact support to see what is going on or if there is any additional information that you should provide.

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Webull Account Types

There are several different account types available at Webull. Before exploring the various accounts available, however, new customers must start with an individual account.

As with most other brokers, the individual accounts at Webull come in two formats: margin and cash. Margin accounts allow traders to ‘borrow’ funds from the broker, while cash account operate solely with investor capital.

Once the individual account is approved, options like Traditional, Roth, and Rollover IRAs become available. It is also possible to open a second individual account, as long as the two account types are of different types. So, traders who want to benefit from cash and margin accounts are free to do so.

Accessing Webull’s Account Application

The application for a Webull Individual account can be completed on the Webull website and through the mobile app.

Users can use their promo offer: 12 FREE stocks valued $34-$30,600 give-away at Webull. On the page that appears, click on “Get My Free Stocks” that will bring up the application start page. Traders can decide whether they would like to sign up using their mobile number or an email address. Alternatively, new users may also sign in/up using their Gmail or Facebook credentials.

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Individual Account Application Process

Once the initial username and password is set, traders are able to sign into Webull. Just getting through the first sign on page is not enough to start trading though. Upon signing in for the first time, the “Application Submission” page is front and center.

How Long Does Webull Application Take?

To begin, select the “Open Account” option (big blue button in the center of the page).

The first page that users see during the application process is the ID verification page. The country of residence, ID type, and images of a government ID should be uploaded to the Webull application tool.

If an ID (State ID or Driver’s License) is not available, applicants can also use a Social Security Number, an ITIN, or one of several types of visas (E1, E2, E3, F1, H1-B, H3, TN1, O1, and L1).

Webull ID Verification

Once the ID is verified, users can proceed to select the type of account they wish to open. First-time members should choose Individual (either cash or margin).

The next step in the process is to verify understanding of the risks associated with trading, enter financial details, and digitally sign any necessary documents.

Once the trader submits the application, all that’s left to do is wait for approval.

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Funding a Webull Account

As soon as Webull confirms that the application was successfully processed and that the new brokerage account has been initiated, the broker will notify traders through either the email they provided or the mobile app notification center. Brokerage accounts can be funded via wire or ACH, and instructions for both can be found under the account menu. Navigate to “Deposits and Withdrawals” and select “Make Your First Deposit” to get started.

Ben Wright
About the Author
Ben Wright is an investor, a trader, an educator, and something of an explorer. He spends his days in the markets when he is not teaching or spending time with his family. Ben writes about stockbrokers, markets, investment vehicles, promotional offers, and tools that help investors make the most of their time in the markets.