If you’ve been investing through an online platform for a while now, and are less than satisfied, perhaps it’s time for something new. Why not look into a different platform that may have more of the features you want to try?
In a crowded playing field, both new and established platforms are actively competing for your business, and that’s good news for you. One platform may offer enhanced real-time data, while another may have different financial asset accounts. Webull may be a great option for you!
Transferring assets can be confusing at times. In this article, we highlight the steps required to transfer from M1 Finance to Webull.
In order to be eligible for a Webull account, you will need to meet the following requirements:
To open a new Webull account, follow the steps below:
Transferring your assets to Webull is actually quite simple. The platform does support ACATS (Automated Customer Account Transfer Service) for transfers. Additionally, they do not charge for ACATS transactions; however, M1 Finance does charge a fee of $100 for both partial and full account transfers.
With an ACATS transaction, you can transfer your stocks directly without selling them first. This is highly beneficial as it does not create a taxable event.
In order to initiate the transfer, you ought to be aware of the following:
To execute the transfer, follow the steps below in the Webull app:
One of the great advantages of online investing apps is that they are constantly undergoing change to better meet the needs of investors. If you’re no longer completely satisfied with your platform, try something different. Follow the steps above if you decide to switch from M1 Finance to Webull.
