Webull is a commission free stock and crypto trading platform. Right now, Investing Simple readers can get up to 12 free stocks with their current promotion. Open an account to receive 2 free fractional shares worth $3 to $300. Deposit any amount of money to receive 4 to 10 more free fractional shares worth $7 to $3,000. Promotion expires 10/31/2022.
You can gather all the information you will need by looking at a recent account statement. To find your statement, follow the steps below:
When you are logged in, select your profile icon in the top left corner
Scroll down and tap Account settings in the bottom left corner
Move down to the Documents section and select Account Statements
This will give you your most up-to-date account information to determine if you are making a full or partial transfer.
When transferring from Public to Webull, you can actually directly transfer your assets without selling them off first.
Webull can do ACATS (Automated Customer Account Transfer Service) for transfers. They do not charge for ACATS transactions, however Public charges a fee of $75 for outgoing transfers, and you will need to pay that.
If you need it during the transfer process, the DTC code for Public’s clearing firm (Apex Clearing) is 0158.
If you are requesting a full brokerage transfer to Webull, your Public account will automatically be closed as part of that process by Public’s clearing firm.
Do you have Crypto?
If you hold cryptocurrency, note that it is not transferable to Webull via ACATS
Webull supports the following cryptocurrencies: Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Litecoin (LTC), Dogecoin (DOGE), Zcash (ZEC), Stella Lumens (XLM), and Ethereum Classic (ETC).
Public supports a similar list but are lacking a critical service in managing your crypto: wallets. A crypto wallet is an electronic place to store your cryptocurrency in a way that is more safe and secure.
Because Public does not have wallets available at this time, you cannot use the ACATS system. Instead, you will need to sell off the crypto in your Public account and use the cash to buy more in your new Webull account.
2. Open a Webull Account
In order to be eligible for a Webull account, you will need to meet the following requirements:
Be 18 years or older
Have a valid Social Security Number (not a Taxpayer Identification Number)
Have a legal U.S. residential address within the 50 states or Puerto Rico (there may be exceptions for active U.S. military personnel stationed abroad)
Be a U.S. citizen, U.S. permanent resident, or have a valid U.S. visa
Read the Transfer Tips and Tap on "Transfer Stocks to Webull"
Choose Webull as the broker to transfer from
Enter the information as prompted and click on the “Transfer Now” button
Transfer from Public to Webull: Conclusion
One of the benefits to you as an investor is to shop around and try out the many online platforms, most of which are tweaking their service menu on a regular basis to stand out among competitors. See what works for you, and if it doesn’t, move on.
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.