Investing Simple Logo
Get 1 Free Stock Worth Up To $200 From Robinhood!
Sign up with Robinhood, deposit any amount and get 1 Free Stock. It takes less than 3 minutes to sign up and claim your Free Stock Bonus.
Earn 5.00% APY with M1 High-Yield Savings Account
M1 Plus members can earn 5.00% APY on their deposits with no minimum balance required.
Webull free stock promotion
Get Up To 5 Free Stocks From Webull
Open a new Webull brokerage account today and deposit any amount of money to receive 5 free stocks. Webull offers commission free stock, ETF, option and crypto trading.
Written by Cari Scribner on June 18, 2021
FTC Disclosure

How To Close Your Webull Account (Step By Step)

Closing an online brokerage account is easy. With just the click of a button, you can shut down your account and transfer your cash. However, before you do this, it's important to know what you will do with that cash once it's transferred.

Often users will need the cash for emergency expenses or planned purchases. Whatever your plan, remember your original goals for investing. It is likely those goals were to turn a smaller amount of money into a larger sum over time. As we’ve said many times, investing isn’t a get-rich-quick scheme.

The most successful investors map out their long-term goals and don’t make rash decisions. Investing is a process in which you don’t have to take large actions on a regular basis. Let your wealth accumulate for you over a long period of time.

Keep this all in mind when deciding whether or not to close your account. It’s best practice to research other platforms and see if they offer what you are looking for before taking the plunge. If you find one, you can easily close your Webull account and sign up with a different app that suits you better.

Best Free Stock Promotions

Robinhood Logo1 Free Fractional Share Worth $5 To $200, 18 Companies To Choose FromDownload
Webull LogoWin Up To 12 Free Stocks Worth Up To $3,000 EachDownload
M1 Finance Robo Advisor$10 Bonus (When You Deposit $100+)Download
Moomoo LogoWin Up To 5 Free Stocks Worth $3 To $2,000 EachDownload
Acorns LogoFree $10 Bonus When You Invest $5+Download

How Do I Close My Webull Account?

If you have money or investments within your Webull account and you'd like to switch to a new platform, you have two options.

  1. Sell all the stocks/ETFs and transfer that money to your bank and then to a new platform
  2. Pay Webull to transfer your assets to a new brokerage

Once this is complete, you can then delete your Webull account.

Delete Your Webull Account

Once all the money has been moved from your account to another, all that is left to do is delete your account. This is done relatively simply in just three steps.

  1. Go to Menu in the Webull app
  2. Click on your profile
  3. Scroll down to find "Delete Account"

Once you click on the 'Delete Account' option, you will confirm your decision and just like that, your account is gone. Now, it is important to note that your information and past trading history will still be stored within Webull's servers in order to report taxable events. However, nothing new will take place on your account since it is no longer active.

Consider Robinhood as an Alternative Investment App

Robinhood, the popular platform known for launching commission-free trading, is a great alternative to Webull. While Webull is focused on intermediate to advanced traders, Robinhood has its focus on new or beginner traders. This is evidenced by the sleek platform and lack of detailed trading data.

It is meant to be one of the simplest trading platforms out there.

As a result, intermediate to advanced traders often find this platform to be lacking when it comes to research tools, order types, and technical indicators. Still, if you are looking for an uncomplicated platform to trade commission-free, it is an excellent option.

Just like with Webull, this is a completely free trading platform.

They do not charge any hidden fees and there are no strings attached. If you don’t feel you have the cash to open a sizable account, don't worry, Robinhood doesn’t have an account minimum. This means you can get started investing right away.

Robinhood, similar to Webull, offers fractional shares so you won't even need the full amount to purchase the shares you want. On the Robinhood platform, you are able to purchase in dollar amounts instead of in whole shares. This means you can own a piece of Apple or Amazon for as little as you can afford.

With Robinhood, you can start out small and gain momentum as you go along and become more confident and acquire more know-how.


Closing your Webull account can be done at the touch of a button. Whether you want to sell all your assets and then transfer them yourself, or pay for Webull to do it for you, be sure you do the adequate research before deciding. Selling your stocks will trigger a taxable event whereas transferring will not.

Whatever you do, have a plan for what to do with your money next. If you are going to reinvest/transfer your funds, Robinhood may be a good option for you.

Article written by Cari Scribner

Read more

Power Your Investing

Choosing the right product and service is essential for your investing. Here are some of the tools and services to help your portfolio grow.
Robinhood provides an easy-to-use free trading platform for beginner investors. Robinhood has $0 account minimums. Get a free stock when you open an account below.
Try Robinhood
M1 Finance
M1 Finance offers a free investing platform where users can build portfolios of stocks and ETFs. Users can also choose from a variety of pre-built portfolios offered for free.
Try M1 Finance
Passively invest in private real estate deals with as little as $10. Fundrise allows you to own residential and commercial real estate across the U.S. starting at a 1% annual fee.
Try Fundrise
Copyright © 2018 – 2023 Investing Simple LLC. All Rights Reserved.
Investing Simple is a financial publisher that does not offer any personal financial advice or advocate the purchase or sale of any security or investment for any specific individual. Members should be aware that investment markets have inherent risks, and past performance does not assure future results. Investing Simple has advertising relationships with some of the offers listed on this website. The information on Investing Simple could be different from what you find when visiting a third-party website. All products are presented without warranty. For more information, please read our full disclaimer.
Website managed by Stallion Cognitive™

Get 1 Free Stock Worth Up To $200 From Robinhood!

Don't Miss This Opportunity!

Investing Simple readers can claim a free stock from Robinhood worth up to $200 when they open a brokerage account and deposit any amount.

For US Residents only. Investing Simple is affiliated with Robinhood, and we may earn a commission when you sign up for Robinhood.

linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram