Webull IRA Review
If you want to save for retirement, an IRA is a great start. It’s easy to open and offers tax breaks. Webull has IRAs but misses some features. Here’s what you need to know:
Webull IRA Overview
Webull offers only Roth and Traditional IRAs. You can’t open SEP, SIMPLE, Minor, or Inherited IRAs here.
You can have only one IRA at Webull—either Roth or Traditional. You can’t open both, which is uncommon.
Webull IRA Fees and Minimums
Webull is very low cost. IRAs have no fees or minimums—you can open one with $0. There’s no annual fee and no closeout fee.
IRAs share Webull’s zero-commission trading for eligible online trades.
Available Assets
You can trade stocks, options, ETFs, bonds, and closed-end funds in a Webull IRA.
Webull doesn’t offer mutual funds or forex, so you can’t invest in target-date funds.
Opening a Webull IRA
It’s quick to open an IRA on Webull’s website. It takes a few minutes here. Just pick Roth or Traditional.
If you already have a taxable account, log in, click your account name at top right, select My Account, and then click “Open IRA.” Your info fills in automatically.
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Webull Rollover Service
Webull accepts rollovers from old employer plans. First, open your IRA. Then ask your HR department to roll over your plan. You’ll complete paperwork and see the funds in your Webull IRA as cash.
The process can take about two weeks if all goes smoothly.
Webull accepts rollovers from 403(b), 401(k), 457(b), SEP IRAs, and SIMPLE IRAs. You can use wire, check, or a 60-day rollover.
For a wire, have your plan admin send cash to:
| Field | Details |
|---|
| Amount | U.S. Dollar amount |
| Recipient Bank Name | BMO Harris Bank
111 W Monroe St, Chicago, IL 60603 |
| ABA Number | 071000288 |
| SWIFT Code | HATRUS44 |
| For the Benefit of | Apex Clearing Corporation |
| Bank Account Number | 1617737 |
| Beneficiary's Address | One Dallas Center, 350 N. St Paul Suite 1300 Dallas, TX 75201 |
| Beneficiary's Phone | 888-828-0618 |
| Name on the Webull account and 8-digit account number 5XXXXXXX |
For a check, have the check made out to “Apex Clearing Corporation FBO [Your Name and Account #]” and mail to:
Apex Clearing Corporation
c/o Banking
350 N St Paul Street, Ste 1300
Dallas, TX 75201
For a 60-day rollover, your employer mails you the check and you send it to Webull within 60 days. Taxes may be withheld, so talk to a tax advisor first.
Webull doesn’t charge to receive transfers, but your old firm might. You can’t roll a Roth into a Traditional IRA.
Webull IRA Transfer
Moving an IRA from another broker to Webull is simpler since you don’t have an employer involved and you can transfer assets without selling them—if Webull supports those assets.
Start the transfer at Webull, not at your old broker. Webull has an easy online form for transfers.
In the mobile app, tap the Menu icon, then scroll to the Promotion Center tile for account transfers. Tap it to see any transfer offers.
On that page, tap the button to transfer an IRA and follow the steps. On the website, go to My Account and click Transfer Stocks.
In the “Receive” drop-down, choose your IRA (if you have multiple accounts). The minimum transfer is $500. Webull won’t take options expiring in under two weeks, naked options, pink-sheet stocks, or other OTC instruments.
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Software
IRAs use the same trading tools as other Webull accounts: mobile app, desktop program, and browser platform. You get multiple order tickets, full-screen charts, a stock screener (no ETF screener), and various desktop layouts.
Managing an IRA
You can’t short, use option spreads, or trade on margin in a Webull IRA. The balance can’t go negative. Day trading is only allowed with settled funds. IRAs are always cash accounts.
Webull lets you recharacterize and use a Backdoor Roth. To withdraw, you must fill out a paper form.
Adding a Beneficiary to an IRA
You can add a beneficiary to an IRA on the app or website.
In the app, tap the bull horns icon, then settings, then Modify Account Profile, and scroll down to add a beneficiary.
On the website, go to My Account, click Manage My Account, and follow the link to add a beneficiary.
Webull Retirement Advice
Webull has no investment advice or planning services. All accounts are self-directed, and there are no lifecycle funds.
Retirement Education
Webull’s website has a learning hub and FAQ center with general info. The FAQs include a brief IRA section with questions like:
- How do I recharacterize a Roth IRA to a Traditional IRA?
- What are the requirements to open a Traditional IRA?
- Does Webull support a Backdoor Roth?
Webull IRA Review Judgment
Webull performs well in the retirement investing space by offering IRAs and solid trading tools.
Webull IRA Promotion
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Updated on 4/8/2025.
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