Transfer in & Maintain $5,000-$19,999 Worth of ASX Stocks & Get up to $400 in Trading Vouchers @ Webull App (Activation Req.)

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Go to Deal

machej on 25/02/2024 - 23:15 webull.com.au (1595 clicks)
Last edited 26/02/2024 - 12:55 by 1 other user

https://files.ozbargain.com.au/upload/11451/110750/webulloff…
Also, transfer in $20,000 worth of ASX Stocks & get up to $1,600 in trading vouchers.

Webull brokerage: $55 per stock.

Important points from T&Cs

The campaign is open to target clients of the public. Activation required.

The participants will receive A$100 in trading vouchers (A$400 in trading vouchers with $20,000+ ASX stock transferred) 4 times when their total transfer amount is maintained at 11:59pm on 31/3/2025 SYD time. Distribution dates: 10/7/2024, 10/10/2024, 10/1/2025, 10/4/2025.

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Now I'm not going to profess that there is ANY safety whatsoever with this deal. They claim to have insurance coverage and they are an ASIC regulated entity but in reality we'll never know until something goes wrong.

What I will say however is I've participated in previous promotions and made over $2500 AUD in bonuses from them so as long as you click the participate link on the offer page and follow the terms they generally do give you what is promised.

This might be a targeted offer for users with no ASX stocks, please confirm in the comments if you can't see it.

T&Cs apply but I couldn't copy them from the app so you might need to check in the promotions centre. The biggest drawback I saw of this is that the rewards are paid in quarterly tranches in the form of trading vouchers so in other words you need to buy a stock and then redeem the voucher. This will in turn give you the cash back on your share purchase once the trade settles.

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  Charlie Dont Surf on 01/03/2024 - 12:29

  I've got the offer showing now, and also have the 'Deposit Tier' promotion available too (extended to 31/3).

  Thinking about doing both - transfer $20K of stocks and deposit $10K cash for a year. The latter doesn't thrill me, but the ROI is appealing. Will wait til the end of this month to maximise the return as the voucher dates appear to be fixed.

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  Charlie Dont Surf on 01/03/2024 - 12:46

  +1

  Just a heads-up

  Once your transfer is complete, it will be worth going to your Computershare/Link Market Services account and checking all the settings/details for your transferred stock(s). My experience is that they're likely to return to the default settings - eg. dividend settings, communication preferences etc. I find Computershare to be a tough platform to navigate, much prefer when my stocks appear on LMS.

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    aaron3 on 10/03/2024 - 12:31

    Did you transfer all of your holdings of a particular stock? Or just some of it? Or even multiple different stocks? Do you think that would make a difference?

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      Charlie Dont Surf on 10/03/2024 - 12:53

      +1

      In the past, I've transferred part of my holding of a stock to a new broker. (It wasn't Webull, but we're talking about CS/LMS procedures here.)

      I'm going from memory, because it's about 5 years ago, but my recollection is that settings were set to 'default' for the new HIN (ie. you would have BHP shares under two HINs in Computershare). It's the new HIN generated that triggers these issues.

      I found having two HINs for the same stock pretty messy at tax-time too if you're thorough about checking ATO auto-fill - it's largely unavoidable in the year that you do any kind of transfer unless you can jag the timing right. The bonuses from Webull are good enough for me to do it, but otherwise it's something I hate having to do (ie broker-to-broker transfer).

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  twodollah on 01/03/2024 - 13:23

  +2

  A question to those who have transferred shares before - how long does the process take? I've put in a request 3 days ago and it is still showing as 'in progress'

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    Charlie Dont Surf on 01/03/2024 - 13:52

    +2

    Depends a bit on how efficient the transferring broker is. My recent transfer out of Stake took about ten working days, I had to send a follow-up email to push them a little. I think five working days should be around the average.

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  frugalftw on 01/03/2024 - 14:17

  A bit of a warning I guess: this is actually a 12-month term-deposit with ~8% return in the form of trading coupons. Any withdraw in the mean time counts towards the balance maintenance requirement.

  If you have $2k to start with, transfer $5k in, then during the one-year term, any withdrawals would make you lose the promotion because you can’t actually tell Webull that you are withdrawing from the initial $2k as opposed to the $5k transferred amount. So you want to liquidate and withdraw first, then do the transfer to minimise cash flow issues later on. And you probably want to do it on the last day of the promo, if the transfer is instant.

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    freedomofspeech on 01/03/2024 - 14:36

    Are you sure??

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    pennypacker42069 on 20/03/2024 - 20:35

    This won't work, any withdrawals made before the transfer will still be deducted from your net total

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      frugalftw on 20/03/2024 - 20:56

      How do? If you sell off and withdraw everything, that’s starting at $0 balance. Transferring $5k in and whatever amount you are happy about, lock it in for a year. Or you could transfer out first lol then transfer in just the right amount.

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  qq830821 on 07/03/2024 - 12:03

  i have a few $15 trading vouchers for ASX what could i do with that other than offsetting my brokerage cost?

  I tried to place oders to buy 1 share but always get rejected.

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    Sheng on 07/03/2024 - 13:26

    +1

    ASX requires $500 min. parcel sizes unless you current have a holding in that specific company.

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      qq830821 on 08/03/2024 - 10:28

      yeah i do currently have holdings in that company that is way greater than $500. but even that, Webull still rejected all my orders. and when i ask them the reason for the rejection, they can nvr tell me the reason. instead the responses i got from them were generic, along the line of need to maintain mkt integrity…

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    Charlie Dont Surf on 07/03/2024 - 13:56

    +1

    Are they ASX trading vouchers or $A trading vouchers?

    If they are $A, you should be able to use them on the US market (at the AUD/USD rate) and buy US stocks in fractional quantities.

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      qq830821 on 08/03/2024 - 12:57

      ASX trading voucher but it seems that i cant use it to buy 1 share or for a very small amount lol

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        Charlie Dont Surf on 08/03/2024 - 13:05

        If it was me, I'd probably try and use the voucher as a form of 'discount' on a further investment in a good ETF which I own eg. IVV, A200. Not sure what the hurdle is that you need to reach, maybe $A100?

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  eecchhoo on 10/03/2024 - 17:41

  I think this can be used with another offer where the referer get $300 by using referral link if the referee transfer more than $5000 of stock

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  izkai67 on 11/03/2024 - 16:48

  Anyone know if I can withdraw the trading voucher as cash? Or only to buy stock?

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    eecchhoo on 11/03/2024 - 18:08

    +1

    The only way buy then sell the stock

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      Zenny on 26/03/2024 - 00:08

      the $100 trading voucher will be worth $90 after factoring the brokerage for buying and selling

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        Charlie Dont Surf on 26/03/2024 - 11:30

        A person could potentially use this particular voucher to trade on US markets. Transaction costs (including FX leakage) should be around $2 for a $100 voucher.

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          Zenny on 26/03/2024 - 14:21

          @Charlie Dont Surf: The transfer in bonus can only be used to purchase ASX shares

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            Charlie Dont Surf on 26/03/2024 - 23:25

            @Zenny: Cheers, that's a bummer. I'll just add to the ETF that I've transferred in, and after 12 months I will probably transfer the balance across to my preferred broker. But you're right though about anyone wanting to do a quick churn.

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  casanovawa on 25/03/2024 - 19:22

  Ok, so not a member of Webull but can I just ask… So if i was to use some referral link to access this offer (if that's how it works) is I buy $5k of a stock or an ETF and transfer into Webull and if I keep until the first milestone then I get $100 worth of trading vouchers… So not actual money, but vouchers that defray the cost of buying future shares?

  So I redeem the $100 voucher and its valid for trades for 30 days or just valid for one trade? And the full amount of the voucher has to be used… If i purchase some shares and the brokerage is only $20 then that whole voucher is used up….

  So is that about it?

  I might need to sign up to Webull and just get a sense of what the whole platform is about….

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    Zenny on 26/03/2024 - 00:04

    I have received and redeemed a few $100 trading voucher recently.
    The $100 voucher is a form of cashback and you can only redeem it once you make a share purcahse.
    Eg if you purchase 10 shares of XYZ @ $100 each. The cost will be $1000 + $4.90 (brokerage). you will pay $1004.90 upfront and then webull will deposit $100 back to your cash account once you redeem the voucher.
    I have purchased 1 unit of VGS and applied the voucher without any issue.

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    Charlie Dont Surf on 26/03/2024 - 11:36

    It's worth joining up to take advantage whatever referral bonus is offered at the time - don't forget to use someone's referral code!

    This particular promotion finishes at the end of this month, so you'd need to get your skates on to complete it in time, But from memory it has already been extended once or twice this year. But no guarantees going forward.

    Happy to try and answer any other questions you have.

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