Webull

How to Open an IRA Account on Webull in 2021


Step-by-step instructions on how to signup for a Webull Roth IRA, SEP, Simple, or Traditional IRA account.



Webull Account Creation, Funding, and Trading: Step-by-Step Guide


Webull is an attractive broker for investors of all kinds, and there are many good reasons for its popularity.

Webull offers an industry-leading charting solution, a user-friendly trading interface, a full list of U.S.-listed securities, options, and cryptocurrencies. Traders can access Webull through web browser, a desktop trading platform, and a mobile app.

While it is certainly clear that traders can benefit from the various tools and products on offer at Webull, getting started with the popular broker requires some basic knowledge about how the platform works and what is required from you.

Here is a step-by-step guide for a Webull account creation, funding, and trading to get you started.


Opening a Webull Account


Traders can use the mobile app or a PC to create an account at Webull. To start the process, simply go to the Sign Up page and follow the onscreen instructions.


Webull Sign Up


The first splash screen that customers see is a telephone verification tool that allows new users to register their phone numbers. This is an important step as Webull uses mobile verification to increase security.


Webull Phone Number Verification


Once the phone number is verified, the account application process begins.


Webull Incentive


Get 2 free stocks and $5 of Shiba Inu when you open an account.

Open WeBull Account

Application Process


Webull Aaccount Application Page


Press the ‘Open Account’ to get started.


ID Verification & Personal Information

The first part of the application is the identity verification. Upload a valid ID and submit the image files.

Accepted IDs are passport, driver’s license, state ID, or US visa. Accepted visa types are E1, E2, E3, F1, H1B, H3, TN1, O1, and L1. Please note that all new members should present an SSN or ITIN, including those signing up with a US visa.

It is also important to note that signing up on the official website is only available for new traders from the United States and China. Although citizens of either of those countries can use a VPN to access and sign up from anywhere in the world.

For everyone else, the process must be completed via the mobile app.

After successfully verifying the account, several questions are asked pertaining to a new applicant’s financial situation, trading experience, address, and funding information.


Account Type

Applicants are then asked to decide on the type of account that they would like to use.

Available account types at Webull are:

- Individual Cash
- Individual Margin
- Traditional IRA
- Rollover IRA
- Roth IRA

Each trader at Webull is allowed to have one cash, one margin, and one IRA account. To open an IRA account, the trader should first be approved for an Individual account.


Trading History and Risk Appetite

The next step in the process is to decide how much risk an applicant wishes to be exposed to. There is a series of questions that will help the new member and the brokerage decide which permissions to give.

A note for new traders: trading options spreads (buying and selling options at the same time) requires a Level 3 options permission.


Wait for Approval


When all the information is submitted, simply agree to the terms, and submit the application. Approval often comes within 24 hours.


Funding Your New Trading Account


Funding a new Webull account is a straightforward process and there are three basic options to choose from: ACH, Wire Transfers, and ACAT.


ACH Transfers – For ACH transfers, the process of funding a new account is very easy. Simply by creating a link between a personal bank account and the brokerage, transfers can be initiated quickly and securely.

One thing to note about ACH transfers, however, is that it can take up to 5 days for the funds to land into the account.

Fees – Free

Duration – 3-5 days


Wire Transfers – To start a wire transfer, the trader should select the option from the funding options box. Once selected,

Wire transfers are quite fast, but they come with an additional fee.

Fees for domestic wires - $3

Fees for international wires - $12.5

Duration – approximately 2-3 days


Transferring Stocks (ACAT) – the third option for getting funds into a new trading account is to use the Account Transfer wizard.


Webull transfer stocks


This option is perfect for anyone with more complex or larger accounts as there is no need to liquidate holdings before moving the account.

Details to note are:

- ACAT transfers must be for more than $500
- A $75 dollar transfer fee is common (from the original broker).


Webull Incentive


Get 2 free stocks and $5 of Shiba Inu when you open an account.

Open WeBull Account

Getting Ready to Trade


Before placing your first trade, you will want to consider which type of asset you would like to trade. Then, of course, you should make sure that you have the permissions to make the types of trades that you are interested in.

Click on the icon next to your username.


Webull Account Settings


Then, you will select “Manage My Account.” From the management screen, turning on certain privileges requires checking each one, reading the terms and agreements for each, and making known your awareness of how each works.

After turning on your desired asset classes, a waiting period of 24 hours or less is common.


Webull Asset Classes