Have you ever thought about getting some extra rewards while helping your friends or family start their investment journey? If you're a Webull user, you're in luck! Webull's referral program is a fantastic way to earn free stocks by simply inviting others to join their platform. It's a win-win: your friends get to explore a powerful trading app, and you get rewarded for spreading the word.
This lengthy guide will walk you through every single step of referring someone on Webull, from finding your unique link to ensuring both you and your referee qualify for those exciting bonuses. Let's get started!
How to Refer Someone on Webull: Your Step-by-Step Guide
The Webull referral program is designed to be straightforward, but understanding the nuances can maximize your rewards. Follow these steps carefully to ensure a successful referral.
Step 1: Accessing Your Referral Link – The Golden Ticket!
This is where it all begins! Your unique referral link is your key to earning free stocks.
Finding Your Link in the Webull App:
Open the Webull App: Launch the Webull application on your mobile device (iOS or Android). Make sure you're logged into your account.
Navigate to the "Menu" or "Account" Section: Look for an icon that typically represents your profile or a "Menu" button (often three horizontal lines or a person icon). Tap on it.
Locate "Promotion Center" or "Invitation Bonus": Within the menu, you'll usually find a section dedicated to promotions or invitations. It might be labeled "Promotion Center," "Invitation Bonus," "Invite Friends," or something similar. The exact wording can vary slightly based on app updates and your region, so explore a bit if you don't see it immediately.
Find Your Unique Referral Link: Once in the promotions section, you'll see details about the current referral program. Your unique referral link will be prominently displayed. It's often accompanied by a "Share" button.
Understanding Your Referral Link:
Your referral link is a special URL that tracks anyone who signs up using it back to you. It's crucial that your friend uses this exact link to register and open their account for your referral to be valid.
Step 2: Sharing Your Referral Link – Spreading the Word
Now that you have your link, it's time to share it with potential new Webull users!
Best Practices for Sharing:
Personalized Messages: Don't just blast out a link. Send a personal message to your friends, family, or colleagues who might be interested in investing. Explain why you like Webull and how it has benefited you.
Direct Communication:
Text Message: A quick and easy way to share the link directly.
Email: For a more detailed explanation, an email can be effective.
Social Media (with caution): While you can share on social media, be mindful of Webull's terms and conditions. Some programs prefer direct referrals to known contacts. Avoid spamming or making misleading claims.
Explain the Benefits: Highlight what makes Webull great. Mention features like:
Commission-free trading on stocks, ETFs, and options.
Advanced charting tools and real-time market data.
Access to fractional shares, allowing investments with as little as $1.
Their paper trading simulator for risk-free practice.
Any current sign-up bonuses your friend might receive as a new user.
Step 3: Your Friend's Actions – The Referee's Journey
For your referral to be successful, your friend needs to complete a few key steps. This is where many referrals can go wrong if the instructions aren't clear.
What Your Friend Needs to Do:
Sign Up Through Your Link: This is the most critical step. Your friend must click on your unique referral link and complete the sign-up process directly from that link. If they navigate to Webull's website or app independently, your referral will likely not be tracked.
Open a Webull Brokerage Account: After signing up, they need to proceed with opening a brokerage account. This involves providing personal information for identity verification (KYC - Know Your Customer) and linking a bank account.
Identity Verification: They'll need to provide details like their Social Security Number (for US residents), address, and potentially upload a photo ID. This is a standard regulatory requirement for financial institutions.
Make an Initial Deposit: This is often the qualifying action for both you and your friend to receive bonuses.
Minimum Deposit: Webull's promotions frequently require a minimum initial deposit (e.g., $100 or more) within a specified timeframe (often 30 days after registration). Always check the current promotion's terms and conditions as these can change.
Fund Settlement: The deposit usually needs to settle in their account before the referral bonus is awarded. This typically takes a few business days for ACH transfers.
Important Considerations for Your Friend:
New Users Only: The Webull referral program is generally for new users who have never held a Webull brokerage account before.
Timelines: Emphasize the importance of completing the deposit within the specified promotional period to ensure eligibility.
Step 4: Tracking Your Referral Rewards – Patience is a Virtue
Once your friend has completed the necessary steps, the waiting game begins.
How to Track:
Check Your "Promotion Center" or "Invitation Bonus" Section: This is the same area where you found your referral link. Webull's app provides a dashboard or status update where you can see your pending and successful referrals.
Fund Settlement Time: Remember, free stocks are typically awarded after your referee's deposit has fully settled. ACH transfers usually take around 5 business days. Don't panic if you don't see the stocks immediately after their deposit!
Claiming Your Free Stocks: Once the conditions are met and the funds settled, you'll usually receive a notification within the app, prompting you to "claim" your free stocks. Be sure to claim them within the specified timeframe (e.g., 30 days), or they may revert back to Webull.
Understanding the Rewards:
Varying Promotions: The number and value of free stocks you and your friend receive can vary significantly based on Webull's ongoing promotions. It could be 2 free stocks, or more for multiple referrals, and their value can range from a few dollars to potentially thousands.
Randomly Selected Stocks: The free stocks are typically randomly selected from a pool of eligible companies, often with a minimum market capitalization. They are not specific recommendations.
No Guarantee of Value: The value of stocks can fluctuate. Webull is not responsible for market changes that might affect the value of your awarded stocks.
Step 5: Managing Your Awarded Stocks – What to Do Next
Congratulations! You've received your free stocks. Now what?
Options for Your Free Stocks:
Hold Them: You can choose to hold onto the stocks and see if their value appreciates over time. This is a common strategy for long-term investors.
Sell Them: If you prefer, you can sell the awarded stocks once they are credited to your account.
Withdrawal: The money received from selling the stock can usually be withdrawn or used to buy other eligible securities within your Webull account. Note that there might be a holding period (e.g., 30 days) before funds from sold referral stocks can be withdrawn.
Diversify: Consider using the value of your free stocks to diversify your portfolio by investing in other companies or ETFs that align with your investment goals.
Tax Implications:
Form 1099-MISC: Be aware that the value of all Webull Financial LLC offers received, including free stocks from referrals, may be reported as "Other Income" on IRS Form 1099-MISC (for U.S. residents).
Consult a Tax Professional: Webull is not responsible for any taxes related to its stock reward programs. It is always advisable to consult with a tax professional regarding your specific tax obligations.
Important Considerations & Program Specifics
It's vital to be aware of the terms and conditions that govern Webull's referral program to avoid any disappointments.
Eligibility Requirements:
Referrer Eligibility: You must be an existing Webull brokerage account holder in good standing.
Referee Eligibility: The person you refer must be a new Webull user who meets the eligibility criteria for opening a brokerage account (e.g., age, residency, valid SSN for US residents). They cannot have had a Webull account previously.
Location Restrictions: Referral programs can be region-specific (e.g., U.S. residents, U.K. brokerage account holders, etc.). Ensure your friend is in an eligible region.
Program Changes and Discretion:
Webull reserves the right to adjust referral program parameters, decline participation of certain customers, or terminate the program at any time without notice. Always refer to the most current terms and conditions within the Webull app or on their official website.
Fraud and Abuse: Webull takes suspicious activity seriously. If they suspect a user of creating multiple accounts or engaging in fraudulent behavior, they reserve the right to suspend or shut down accounts and forfeit rewards.
10 Related FAQ Questions
Here are some common questions about the Webull referral program, with quick answers:
How to check my referral progress on Webull?
You can check your referral progress by navigating to the "Promotion Center" or "Invitation Bonus" section within the Webull app. It usually shows pending and successful referrals.
How to know if my friend used my Webull referral link?
Unfortunately, you might not get a direct notification until the referral conditions are met. The best way is to check your "Promotion Center" for updates or confirm with your friend that they used your link and completed the necessary steps.
How to qualify for the Webull referral bonus?
To qualify, your friend must use your unique referral link to sign up, open a Webull brokerage account, and make an initial qualifying deposit (the amount and timeframe vary by promotion).
How to withdraw money from sold referral stocks on Webull?
Once your awarded free stocks are credited to your account and you sell them, the cash from the sale will be available in your account. You can typically withdraw it to your linked bank account after a holding period, if applicable.
How to find the specific value of the free stocks I might receive?
Webull's promotions usually state a range for the value of free stocks (e.g., "$8-$1600"). The exact value of each stock you receive is random within that range.
How to get more free stocks on Webull?
Continue referring more eligible friends! Webull often offers additional tiers of rewards for multiple successful referrals.
How to contact Webull support about a referral issue?
If you encounter any issues with your referral, you can contact Webull's customer support directly through the app or their official website for assistance.
How to avoid common referral program pitfalls?
Ensure your friend uses your exact referral link, meets all initial deposit requirements (amount and timeframe), and completes the account opening and verification process fully.
How to participate in the Webull Affiliate Program instead of the in-app referral?
The Webull Affiliate Program is separate and generally requires an application and approval process, often favoring users with large social media followings (e.g., 2,000-5,000 followers or more). You'll typically find information about this on Webull's dedicated affiliate sign-up pages, distinct from the in-app "Refer-a-Friend" promotions.
How to ensure my friend's deposit counts for the referral?
Advise your friend to initiate their initial deposit within the promotional timeframe specified by Webull (e.g., 30 days from registration) and ensure it meets the minimum required amount. Remind them that it needs to settle to count.
