I usually don’t do this kind of stuff (sign up with an account to get free stuff), but I’ve been looking to make some investments outside of my Roth 401k and my Vanguard index fund investments. Webull sounded like a good option for me…and then they started offering free stock for sign-ups and free stock for funding an account. I went through the whole process and it’s legit. So for those of you asking about the Webull minimum deposit for free stock, see below for my entire experience.
Webull Free Stock Hack
Here’s a snapshot of Webull’s latest promotion (offer good through April 30th, 2022):
If you open a Webull account, then link your bank account to it and make a deposit, you’ll earn 5 free stocks worth a potential $9,600! Sounds pretty great, but there’s a bunch of fine-print of course. 😉
So is this Webull free stock hack really worth it? …Or…is the Webull free stock promo actually a scam?
Long story short, it’s legit. But how much is it really worth? Lucky for you, I went through the process. Here’s a bit of the step by step.
How do I claim 2 free stocks on Webull?
First, Webull asks that you open a new account. If you do this, they will give you 2 free stocks. These free stocks are valued between $3 and $300 each. Of course, it’s more likely that you’ll receive a $3 stock than a $300 stock (more on the odds of the Webull free stocks below).
So what information do you need to provide to open an account with Webull?
They’ll need your:
- phone number,
- your name,
- marital status,
- your social security number,
- your drivers license info,
- and a bit about your investment preferences.
Seems like a lot, but it’s actually all pretty standard for brokerage accounts.
Once you sign up, be sure to watch for the free stocks to hit in your rewards page. Once they hit, you need to go in and claim them within a certain number of days (otherwise you lose your free stock). To do this, simply go into your profile page, then go to “Promotion Center”, then “My Rewards”, and look in the “To be claimed” area to claim your free stocks.
It’s pretty simple, but you need to make sure you do it in time so you don’t lose your free stocks!
It’s always pretty awesome to get free stuff (especially high-dollar value free stuff!), but what are the odds on the free stock from Webull?
According to their terms and conditions, the free stocks are NYSE or NASDAQ-listed shares in U.S.-based companies.
The odds of the Webull free stock values are as follows (for opening an account):
- Stock valued between $3-$10/share = 1:1.02
- Stock valued at $11-$50/share = 1:52.63
- Shares valued at $51-$150/share = 1:1,111.11
- Stock valued at $151-$300/share = 1:10,000
In other words, the chances that you’ll receive a $3 stock are very high (both of my free stocks were valued at $3.07). The odds of receiving a stock that has a value greater than $10 is 1 in 53 chances. Not great, but still possible I guess.
If I were you, I wouldn’t assume that you’ll receive a $300 stock for signing up with a new account. Nearly no one will. BUT, you know you’ll get a free $6 (at least) just for opening an account, and that’s pretty cool!
How do I claim 5 free stocks on Webull?
Alright, so after you get your $6 in free stocks from Webull for signing up with an account, there’s an option to get 3 more free stocks for funding your account. And, by the way, the 3 free stocks are worth more than the initial 2 free stocks. They’re worth between $7 and $3,000 per share!
Here’s an actual screenshot from their page showing the free stock values:
So how do you claim the 5 free stocks on Webull?
You open an account, link your bank account in, then you fund your account with a minimum of $5 (the Webull minimum deposit for free stock is actually less, but more on this later!).
Webull free stock odds for 5 free stocks
We already reviewed the odds of the first 2 free stocks earlier in this article. But what about the odds of the free stocks for funding a Webull account?
In other words, will you almost certainly get a $7 free stock? Or are the odds decent to get a stock that’s worth more?
The odds of the Webull free stock values are as follows (for funding an account):
- Stock valued between $7-$10/share = 1:1.02
- Stock valued at $11-$100/share = 1:52.63
- Shares valued at $101-$999/share = 1:1,111.11
- Stock valued at $1,000-$3,000/share = 1:10,000
So again, you’ll likely get stocks that are worth between $7-$8 (mine were all ADT and valued at $7.47), and the odds of anything else are pretty slim. It’s possible, but not likely. Don’t hang your hat on it.
How To Get Even MORE Free Stock on Webull
When I signed up with Webull, I wasn’t completely sold on it, so I dragged my feet on funding an account.
After a couple weeks of NOT funding my account, I started getting promotional offers from them for MORE free stock if I just put any amount of dollars into my account.
Below are the messages I was getting in my Webull inbox:
Instead of Webull offering me just 3 free stocks for funding an account, suddenly, they were offering me 6 free stocks. And then when I didn’t do that, Webull offered me 7 free stocks worth between $7 and $3,000!
I started doing the math.
Webull already gifted me $6 in free stocks. If I funded my account now with 7 free stocks worth $7 each, that would be another $49. Hmmm, that’s over $50 in free stocks for doing essentially nothing!
S0, I funded my account with $0.01 and received the 7 free stocks roughly 4 days later. Then I claimed the stock and presto! I’ve got $58 in my Webull account. 🙂
Here’s the total value of my free stocks from Webull for opening an account and funding it with $0.01!
Note: To officially get the free stock, I needed to claim my reward through the link in my in my profile, then “My Rewards”, and then go to “To be claimed”. Click claim on all the free stocks and they’re yours! If I remember right, you only have a window of a few days to claim your stocks, so be vigilant and keep checking your rewards each day so you can claim them immediately and not let them lapse!
What is the Minimum Deposit For Webull?
If you simply want to open an account and you don’t care about the additional 3 free stocks from Webull, you can choose not to fund your Webull account. So, in theory, your minimum deposit could be $0 if you want it to be! You’ll still have an account and can use the website and the app for free.
What is the Webull minimum deposit for free stock?
So, what if you do care about getting the free stocks? What is the Webull minimum deposit for free stock?
If you open a Webull account and fund it immediately with $5 or more, you’ll get your 5 free stocks in total. But, if you wait to fund your account, you might have a chance to get more free stock for fewer up-front dollars (again, I funded my account for the $0.01 and got a total of 9 free stocks!).
As a recap, if you want to fund your Webull account immediately, the minimum deposit is $5. If you wait a bit, there’s a chance that you can fund it with just $0.01 and get even more free stock. I’m not saying this will definitely work for you, but it worked for me.
It might be worth trying!
Get More Free Stock on Webull by Referring a Friend
After obtaining my 9 free stocks through the first couple Webull promotions, I’m suddenly realizing that I could get even more free stock –this time by referring a friend.
If I refer a friend that opens a Webull account, they get their free shares of stock, but I also get free shares as well!
Initially, Webull sent me an offer saying that if I refer a friend to Webull, they’d give me 10 free stocks (each share worth a minimum of $3).
Just like when I signed up, I dragged my feet. After a few days, Webull sent me another offer. This time for 15 free stocks for referring a friend. That tipped me over the edge and I started reaching out to a friends that I thought might be interested. (FYI, I still have not had a friend sign up with my link. If you want to be a pal, follow this link and sign up by 4/7/2022 so I can get my 15 free stocks! 🙂 And, you’ll of course get your 5+ free stocks as well.)
If I get 15 free stocks worth $3+ each, that will be another $45, which means I’ll have over $100 in free stocks just for…
- opening an account,
- funding the account with $0.01,
- and referring one friend that opens an account.
Dang, that’s not too shabby! Barely any work and a pretty great return on my time!
How Much Do You Need to Deposit For Free Stock on Webull?
We covered this one in an earlier section actually.
If you want to know what the Webull minimum deposit for free stock is, they claim it’s $5. But, if you wait a few days like me, you’ll likely get a promotion that states you can open an account for any amount and still earn your free stock (actually, they offered me MORE free stock, even though I was depositing less than the previous minimum).
All in all, I deposited a penny and I still got all of my free stock — worth over $58 at the time of writing this post. Pretty good!
Webull Free Stock Review
So what are my initial impressions? What’s my Webull free stock review?
At first, I was skeptical. I felt like I was entering in a bunch of sensitive information that was going to get hacked immediately. This obviously wasn’t the case since I’m writing this post, essentially condoning and promoting the Webull app and trading platform.
Over the course of about a week, I:
- Opened an account with Webull (and received 2 free stocks worth $3.07 each)
- Linked the account to my bank and funded it with $0.01 (and received 7 free stocks worth $7.47 each)
It was all pretty easy and honestly, the process was quite secure. I received all my free stock and I’m finding all the Webull tools to be quite useful.
So, my Webull free stock review is basically this:
- Webull is legit
- The free stocks are real (just be sure to claim them in your rewards!)
- And, I think the Webull platform will be a great option for my future trades
You came here wondering about the Webull minimum deposit for free stock, and I gave you the full gambit of information! Do you think you’ll sign up with Webull?
My name is Derek, and I have my Bachelors Degree in Finance from Grand Valley State University. After graduation, I was not able to find a job that fully utilized my degree, but I still had a passion for Finance! So, I decided to focus my passion in the stock market. I studied Cash Flows, Balance Sheets, and Income Statements, put some money into the market and saw a good return on my investment. As satisfying as this was, I still felt that something was missing. I have a passion for Finance, but I also have a passion for people. If you have a willingness to learn, I will continue to teach.