Initiating Your Transfer

When initiating a transfer from Webull, you will submit the request to your receiving broker. Please review the following to ensure a smooth transfer to your new financial institution:

• Transfer fee: A $75 fee will be deducted from your account's cash balance for both full and partial outgoing transfers.
• Nontransferable assets: Fractional shares, Treasury bonds, and money market funds (MMF) cannot be transferred and will be liquidated once you initiate an account transfer.
• Options contracts: Options contracts that expire within two weeks cannot be transferred.
• Settlement requirement: All transactions, including trades or deposits, must be settled before an ACAT (Automated Customer Account Transfer) can be completed.
• Holding period: Recent deposits in your account may be subject to a holding period of up to 30 days, starting from the day your deposit has settled.
• Receiving broker details: Your receiving broker will need your Webull account number and our DTC number. Webull's DTC number is 0158.

How do I enter my account number correctly for a transfer?

Before initiating a transfer, ensure you identify your account type—either Omnibus or Apex—to determine how to enter your account number correctly:

• Apex Accounts: Do not require a prefix when entering the account number.
• Omnibus Accounts: Must add the prefix "WEB" before entering the account number.

Make sure to verify your account type to prevent errors during the transfer process. Here is an example of how to enter your account number for an Omnibus account at the receiving broker:

What fees apply when transferring my account?

How long does the transfer process take?

Please be aware that outgoing transfers typically take around 5-7 business days to complete when processed through the Automated Customer Account Transfer Service (ACATS). This timeframe is an estimate and can vary based on the specific circumstances of the transfer and the processing times of the financial institutions involved.

When will my cost basis be updated at my new firm?

All cost basis information will be provided to your new financial institution within 10-15 business days. If you have not received the cost basis data after this period, please feel free to contact us, and we will arrange to re-send the cost basis to your new institution.