Webull Account Types

Webull offers a limited selection of account types designed for different types of investors. The primary account types available are:

• Individual Cash Account: This account allows you to invest using the cash available in your account. There is no minimum deposit required to open this account.
• Margin Account: This account allows you to borrow funds to trade, enabling you to leverage your investments. The minimum deposit required for a margin account is $2,000 for limited day trading and $25,000 for unlimited day trading.
• Retirement Accounts: Webull provides Traditional IRAs and Roth IRAs, both with no account fees. However, users must first open an individual brokerage account before establishing an IRA.

It is important to note that Webull does not currently support joint accounts, custodial accounts, or mutual funds.

Webull Broker Account Opening Process

Opening a broker account with Webull is a straightforward digital process that can be completed in a few steps:

• Download the App or Visit the Website: You can either download the Webull app or access the Webull website.
• Start Registration: Go to the “Account” menu and select the sign-up option.
• Provide Personal Information: Fill in your name, address, date of birth, and other required personal details.
• Financial Experience and Employment Information: You will need to provide information regarding your financial experience and employment.
• Verify Identity: Upload a photo of your identification (passport, drivers license, or national ID).
• Choose Account Type: Select the type of account you wish to open (cash or margin).
• Review and Submit: Review all the information provided and submit your application.

The account application is typically approved automatically, but additional verification may be required, which could delay the process. Users can start trading immediately after account approval, and Webull offers promotions such as free stocks upon account funding.