The stock brokerage industry is highly competitive, with some brokerages offering rewards for you choosing their services. Webull is one of them and they offer people specific amounts of “free shares.” This post discusses the actual value of those free shares.
Webull currently offers new customers between 3-75 free shares for signing up and depositing. Each share is, according to WeBull, worth between $3-$3,000.
Promotion
The rewards from WeBull come in 3 different tiers.
- Get 3 fractional shares for depositing $100 to $499.99
- Get 20 fractional shares for depositing $500 to $24,999.99
- Get 75 fractional shares for depositing $25,000+
Requirements
- Open a Webull brokerage account
- Make a deposit & maintain funds for 30 days
- Claim your free shares on the “My Rewards” page under the Menu tab
Each free share is claimed separately and you are given 45 days to do so. Webull randomly selects from a list. Google, Spotify, Ford, Snapchat & Apple are some of the stocks commonly given.
According to Webull, they only give out stocks of US-based companies with a marketcap above $2.5 billion.
Tip: You may get more value by claiming them on a negative trading day.
Odds
Here are the odds for each value tier:
| Stock Value | Odds |
|---|---|
| $3 | 92% |
| $4 | 4% |
| $5 | 2% |
| $12 | 1.52% |
| $30 | 0.38% |
| $60 | 0.07% |
| $101 | 0.02% |
| $3,000 | 0.01% |
The expected value of each share is about $3.68.
3 Shares: $11.04 (11.04% of $100 deposit)
20 Shares: $73.60 (14.72% of $500 deposit)
75 Shares: $276 (1.10% of $25,000 deposit)
Conclusion
It is definitely worth it to sign up for Webull to take advantage of the free shares, especially the $500 deposit offer. Webull is much nicer than some brokerages in the shares they give (looking at you MooMoo), and they may be worth holding.
Please note that there are tax implications for selling the free stocks.
Other
If you are looking for more bonuses, I recommend checking out the Fidelity and Schwab posts.