Webull Account Types

Webull offers several types of brokerage accounts to cater to various investor needs. The main account types include:

• Individual Cash Account: This account requires investors to pay the full amount for securities purchased. It is suitable for long-term investors who prefer a straightforward approach without borrowing.

• Margin Account: This account allows investors to borrow money from the broker to purchase securities. A margin account is ideal for frequent traders who wish to leverage their investments. A minimum deposit of $2,000 is required for margin accounts.

• Retirement Accounts: Webull provides options for Traditional IRA, Roth IRA, and Rollover IRA, all of which come with $0 account fees.

• Limited Account Types: Webull does not currently support custodial accounts, Coverdell education savings accounts, or business accounts, which may be available through other brokers like TD Ameritrade.

Webull Broker Account Opening Process

Opening a brokerage account with Webull is a straightforward process that can be completed digitally. Here are the steps to open an account:

• Visit the Webull Website or App: Start by downloading the Webull app or navigating to the official Webull website.

• Sign Up: Click on the "Sign Up" option under the account menu.

• Provide Personal Information: Fill in your personal details, including your name, address, date of birth, and Social Security Number.

• Financial Experience: Indicate your financial experience and employment information.

• Identity Verification: Upload a photo of your government-issued ID (passport or driver's license) for verification.

• Choose Account Type: Select the type of account you wish to open (cash or margin account).

• Review Information: Carefully review all provided information for accuracy.

• Submit Application: Submit your application for approval.

• Initial Deposit: For margin accounts, ensure you meet the minimum deposit requirement of $2,000. Cash accounts have no minimum deposit requirement.

By following these steps, you can successfully open a brokerage account with Webull and begin your investment journey.