The cost to transfer out of Webull is $75 for each outgoing stock transfer. This fee is charged by Apex Clearing Firm, which serves as Webull's clearing agent.
Understanding Webull Transfer Fees
When you decide to move your investments from Webull to another brokerage, this process is typically facilitated through an Automated Customer Account Transfer Service (ACATS). The $75 fee applies to each outgoing ACATS transfer, regardless of whether it's a full transfer (moving your entire account) or a partial transfer (moving only some assets).
Here's a breakdown of Webull's transfer fees:
| Transfer Direction | Fee | Charged By |
|---|---|---|
| Transfer to Webull | $0.00 (Please contact the contra Broker for details.) | Apex (Clearing Firm), Contra Broker |
| Transfer from Webull | $75 per Outgoing Stock Transfer (Please contact the contra Broker for details.) | Apex (Clearing Firm), Contra Broker |
It's important to note that while Webull's clearing firm charges $75 for outgoing transfers, the receiving brokerage (the "contra broker") may have its own fees for accepting incoming transfers. Therefore, it's always recommended to check with your new brokerage regarding any potential fees they might charge.
Key Considerations Before Initiating a Transfer
Before you initiate an account transfer out of Webull, consider the following practical insights:
- Full vs. Partial Transfers: The $75 fee generally applies per ACATS transfer, whether you're moving all your assets or just a portion.
- Fractional Shares: Fractional shares (portions of a stock less than one full share) cannot be transferred. They are typically liquidated (sold) before the transfer, and the cash proceeds will be transferred to your new account.
- Pending Activity: Ensure there are no pending trades, deposits, or withdrawals in your Webull account before initiating the transfer. All positions should be settled.
- Account Status: Your account must be in good standing, without any margin calls or negative balances.
- Transfer Timeframe: ACATS transfers can take several business days to complete, during which your assets may not be accessible for trading.
- Confirm with Both Brokers: Always confirm the transfer process, timelines, and any potential fees with both Webull and your receiving brokerage to avoid unexpected issues.
For the most up-to-date information on Webull's pricing, including transfer fees, you can refer to their official pricing page.
