Webull Highest-Ever Promotion: Get USD150 Cash Voucher for New Sign Up (valid til 1 Dec 2022)

From 1 November 2022 16:00 SG Time to 1 December 2022 15:59 SG Time, new users who register an account with Webull Singapore will receive:

  • USD 150 Cash Voucher
  • 1-month Level 2 US Market Data subscription
Webull Promotion November 2022

Here’s how to get Webull Welcome Rewards

Step 1: Registration

Click here to register a new account.

Webull Promotion November 2022

After clicking “Sign Up” you will be directed to registration page.

Webull registration process (1)

Here are what you need to do:

  • Fill in your phone number
  • Click “Send Code” and the system will send a code via SMS to you
  • Key in the verification code
  • Read and agree with Terms & Conditions and Privacy Policy
  • Click “Next”

You have successfully registered for a new account! Now, it’s time to set up your account.

Step 2: Setup Your Account

The next step is to setup your account. To do so, here are the steps you need to take:

  • Download Webull App on your mobile
  • Login with your mobile number
  • Click on the “Open Account” tab at the bottom center of the screen
  • Fill up your particulars. For simplicity, you can login with your Singpass.
  • After submitting your particulars, wait for Webull’s approval (my approval took 21 hours). You will receive an email from Webull to tell you about your account’s approval.
Webull - Open Account
Click “Open Account” to start setting up your account. Then, fill up your particulars.
Webull - Account Approved
After submitting the form, you will be shown this page. Wait for approval email from Webull.
Webull - Account Approved and Set Password
After approval, you can go to the app and click Webull logo at the bottom center. Then, set your trading password.

Step 3: Make a Deposit

After your account is approved, it’s time to make a deposit. Inside Webull app, select “Webull” tab at the center bottom of the screen.

There are 3 ways to make deposit: eDDA, Fast or Telegraphic Transfer. Personally, I prefer DDA because it’s so much faster. But I’ll explain each methods.

eDDA method means you’re authorizing Webull to transfer money from your bank account into your Webull account. Setting it up is very easy, just click on “eDDA” then follow the instructions, login to your internet banking, set the amount limit and you’re done.

FAST method means that you need to manually transfer money from your bank account using FAST option. This is only applicable for deposit made in SGD. After you’ve done the transfer, you need to click “Notify Webull of Transfer Completion” and the money will be reflected into your account within 5 to 10 minutes.

Telegraphic Transfer (TT) method means that you need to manually transfer money from your bank account using the traditional Telegraphic Transfer method. This is applicable for deposit made in SGD, USD or HKD. After you’ve done the transfer, you need to click “Notify Webull of Transfer Completion” and the money will be reflected into your account within 1-3 days.

Please note: The registered name of the bank account holder and Webull account must be the same for all deposits and withdrawals. Deposits must be from your own individual bank account, not third-party bank accounts, joint accounts or third-party payment platforms.

Webull - How to deposit money
To make deposit, click Webull logo at bottom center, then click “Deposit Now”. After that, choose your deposit method.

After depositing your SGD, you need to convert it to USD to purchase stock in the US market. Here’s how.

Webull - How to convert currency
Click Webull logo, then click “Details”. After that, scroll down to find “Exchange Currency” button.

Step 4: Execute 1 Buy Trade

Next, execute your first BUY trade of either Stocks / ETF / Options on US Market, with a minimum value of USD100.

Once your Buy Trade is completed, you are entitled to USD100 cash voucher. It will only be credited when you’ve completed Step 6.

To execute a Buy Trade, go to “Watchlists” tab, click on the search function at the top corner and type in the name of the stock that you want to buy.

Then, select “Trade” and select “Buy” tab. Choose the order type and key in the quantity and price (if using Limit order). Check the numbers that you’ve keyed in, and finally tap the “Buy” button at the bottom.

Remember, you need to BUY, and not sell. So, selling or shorting will not count. And you need to do it on US Market, not SG or HK market.

Webull - How to buy stock (1)
Go to watchlist and add your favorite stocks. Then click on the stock that you want to buy, then click “Trade”
Webull - How to buy stock
Fill up the qty and order type, then click “Buy”. When filled, you will see this confirmation page that your order has been filled.

Step 5: Execute 1 Option Buy Trade

To get the remaining USD50 cash voucher, you need to execute 1 Option BUY Trade on US Market. There’s no minimum value of trade, so you can buy option of any stock.

Once completed, you will be entitled to USD50 cash voucher. But it only be credited after you’ve completed Step 6 below.

The process of buying option is similar to buying a stock. Here’s the step by step:

  • Go to Watchlist and select the stock that you want to buy option for
  • Select “Option” and you will see the option chain
  • Select the option that you want to buy. The price displayed on the option chain is the price for 1 share. In option trading, 1 contract is for 100 shares. And you need to trade a minimum of 1 contract for each trade. That means, the price you will pay is 100 times the price shown on the chain.
  • Choose the order type and key in the quantity and price (if using Limit order). Check the numbers that you’ve keyed in, and finally tap the “Buy” button at the bottom.
Webull - How to buy option
Choose the stock that you want to buy option for, then click “Option” button
Webull - How to buy option
This is the option chain. You can click “setting” to adjust the number of strike. The more strikes it shows, the more choices you have,
Webull - How to buy option
Choose the option price that you want to buy. Then input the price & qty and click “Buy”

Step 6: Maintain Your Account for 30 Days

Next, you need to maintain you Net Cumulative Deposit at SGD 2,000 or above for 30 days after the initial deposit. That means, all your total deposit minus total withdrawal should be at least SGD 2,000.

It is alright if your portfolio falls below SGD 2,000 during the holding period, as long as your Net Deposit is at least SGD 2,000. If you don’t perform any withdrawal, your net deposit remains SGD 2,000.

After meeting all of the above requirements, your cash voucher will be credited to your account within 7 business days. Congrats! REMEMBER to use the cash voucher WITHIN 30 days. After 30 days, the unused cash voucher will be expired =(

Checking Your Progress

If you’re worried whether you have completed certain task correctly or not, you can actually check your progress in the Webull App.

Here’s how to do it: Go to Menu, and tap on “Welcome Rewards” button. Then, tap on “My Progress” button at the top right corner.

webull welcome rewards - checking progress

You can also see how many days left until you can be entitled to the rewards.


Other Information:

To read the full Terms & Conditions of this promotion, click here and scroll to the end to find the link to the T&Cs.

If you find this post helpful, feel free to buy me a coffee :)

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