Webull

Transfer Charles Schwab account to Webull OR Vice Versa in 2021


Instructions on how to move Charles Schwab stocks to Webull or vice versa: ETFs, IRA, brokerage assets, and money in 2021. How much is a transfer fee and how long does it take.



Moving a Brokerage Account from Webull to Schwab and Vice Versa


Do you have a Webull brokerage account? Do you want to try Schwab? Or are you at Schwab but want to give Webull a shot? With the following step-by-step guide, you can move an account from one broker to the other easily and pain-free.


General Outline


To move an investment account from one firm to another, you’ll want to complete the following five steps:

Step One: Verify that both brokerage houses accept and send account transfers through the Automated Customer Account Transfer Service (ACATS) network.

Step Two: Open a new account with the broker you want to try.

Step Three: Prepare your old account. For a full transfer, this generally means closing open orders, eliminating margin balances, and allowing trades to settle.

Step Four: Submit a transfer request with the new brokerage firm.

Step Five: Monitor the transfer for accuracy.


Transfer Schwab Account to Webull


Step One: Both Schwab and Webull send and accept ACATS transfers, so there’s no need to perform any other transfer type.

Step Two: Now you need to open a Webull account if you don’t already have one. This is easy to do with their link: Get 2 FREE stocks valued up to $1,850. The name on the account and the account type must match your Schwab account exactly. If you plan to transfer in any option spreads, you must open a margin account.

Step Three: Now it’s time to get your Schwab account ready for the imminent transfer. Any investments that Webull doesn’t accept must be liquidated if you plan to do a full account transfer. These assets include mutual funds, fixed-income securities, OTC stocks, foreign equities, and futures contracts. Webull won’t accept fractional shares, but Schwab should convert any you have into cash before sending positions to Webull.

Step Four: Log into the Webull app and tap on the account icon in the upper-right portion of the screen. You’ll see a Promotion Center with a row of tiles. Tap on the one that says Account Transfer Bonus.


Transfer Schwab Stocks to Webull


On the next page, you’ll see a blue Transfer Now button. Tap on this and you’ll get Webull’s ACATS form. Schwab’s logo is prominently displayed as a potential outgoing broker. Tap on Schwab’s logo to pre-fill some information. You will need your account number and a recent statement.

Webull will credit your new account $75 if your Schwab transfer is valued at $2,000 or more. If you’re moving an IRA, the minimum is $5,000. This offer is only valid for customers who have never transferred an account to Webull before. Schwab itself charges $50 for an outgoing full transfer or $25 for an outgoing partial transfer.

Step Five: Wait about two weeks and all the assets you requested from Schwab should appear in your Webull account. If they don’t, or if there are any discrepancies, give Webull a call at (888) 828-0618.


Webull Promotion



Open WeBull Account



Transfer Webull Account to Schwab


Step One: As mentioned in the previous section, both firms participate in the ACATS network.

Step Two: Open a Schwab account. It must be either an individual account, Roth IRA, or Traditional IRA, because that’s all that Webull offers. If you have any option spreads coming over from Webull, you’ll need to add margin to your Schwab account.

Step Three: Schwab doesn’t offer cryptocurrency trading, so you won’t be able to transfer digital currencies. If you have any, you’ll need to sell them, do a partial transfer and leave them in your Webull account, or make sure they’re in a separate account.

Step Four: Now it’s time to submit an ACATS request at Schwab. In the top menu on the Schwab website, hover over Accounts and then click on Transfer Account under Transfers & Payments. Just follow the instructions on the online form and you’ll be all set.


Move Webull Account to Schwab


Webull does charge $75 for an outgoing ACATS transfer, and Schwab doesn’t reimburse it. However, Schwab does have a current $100 promotion for transferring in at least $25,000.

Step Five: Schwab’s website displays the status of transfer requests under the Transfer Account tab.


Ally Invest Promotion



Open Ally Invest Account