Does Webull Have Instant Deposit? - Vital Dollar (2024)

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The online trading platform Webull offers commission-free stock trading and can be accessed via a desktop computer or mobile app. This platform offers extended hours trading, cryptocurrencies, margin accounts, along with real time market quotes for stocks and ETFs.

The main advantage of Webull is that there is no minimum deposit, so you don’t need to build up a massive trading fund before you get started. But, does Webull have instant deposit so you can invest your money right away without waiting days for it to transfer?

In this article, we’ll delve into this topic to find out more about instant deposits on Webull to help you determine if it is the right platform for you.

Webull currently offers new users up to 12 free stocks for trying the platform. You’ll get two free stocks (each worth $3 – $300) for signing up. Deposit at least $100 to get up to 10 more free stocks worth $7-$3,000 each. Sign up for Webull through this link to be eligible for the bonus.

How to Deposit Funds Into Your Webull Account

When you open up a Webull account, you’ll need to deposit some money to start trading. There are several deposit methods available, including bank transfer, debit or credit card, or online wallets such as Skrill, PayPal, or Neteller. You can also add your bank account details into the Webull deposit interface to add funds directly from your bank account. However, the bank account must be in your name and when you initiate a transfer, you need to include the reference number Webull provides as a comment, so Webull can identify and allocate your deposit.

For more details, please read our Webull review.

Does Webull Have Instant Deposit?

Unfortunately, Webull does not offer instant deposit, but it does have a feature called Instant Buying Power. This is a unique feature that’s available to all registered users. It allows you to have partial credit when you make a deposit, so you don’t need to wait the typical five days for your deposit to reflect in your Webull account.

This is a system-initiated feature that does not require user input. It automatically shows up when you initiate a deposit, so you can start trading stocks, cryptocurrencies, and ETFs almost immediately. However, you cannot use the funds to trade options.

The timeframe for your full deposit to land in your trading account depends on the amount and method of your deposit. Typically, it will be about five days.

Related reading: How to Get Free Stocks

When Will the Instant Buying Power Show in My Account?

Webull operates on Eastern Time, so you will need to be aware of eastern time zone differences to your time zone to understand when the Instant Buying Power will land in your account. This means that you will need to wait until the trading time in ET.

If you deposit before 4 pm ET, you’ll have instant partial credit available that same day. If the deposit is after 4 pm, it will be reflected in your account the following day at 7 am ET. You can use this partial credit instantly to trade. As we touched on above, you cannot trade options with this instant credit, but it is possible to trade everything else.

The total deposit will appear in your account within five business days. If you made the deposit before 4 pm, you should see the amount in your account at 7 am on the 4th day. If you deposit after 4 pm, the funds will reflect on the 5th day.

How Much Instant Buying Power Will I Get?

The amount of Instant Buying Power is calculated according to your deposit amount, cash balance, type of account, the market value of your positions, your credit score, and the total amount of incoming funds.

The limits for newly funded accounts are usually set at $1,000. If the in-flight deposit amount is less than the limit, you’ll get Instant Buying Power equal to the deposit. If the in-flight deposit amount is higher than your limit, the maximum you can receive is your Instant Buying Power limit.

However, your Instant Buying Power limit may increase after your deposits have settled. As the net value of your account is higher, you’ll be awarded more Instant Buying Power.

Related reading: Does Webull Have Fractional Shares?

How Does Instant Buying Power Show on My Account?

You can check on the status of your incoming deposits via the Webull platform (mobile app, desktop app, or via browser). On the mobile app, tap “details” next to your total account value. You can then scroll down to “Payable & Receivable” and you’ll see incoming funds. When you tap this, you’ll see your in-flight deposit.

Bear in mind that Instant Buying Power does not show as cash in your account. While you are not charged interest for trading on this provisional cash and there are only one or two trading restrictions for using the funds, they do not appear as cash on your account.

When you trade using the provisional credit, your cash balance will actually show as a negative figure. Your cash balance will only become positive when the full transfer hits your account on day four or five and then you can see an accurate available balance.

Final Thoughts

When you’re keen to get trading, the four or five days it takes for a transfer to show in your trading account can feel like a lifetime. With many platforms, you simply have to be patient and wait. While Webull does not offer instant deposit, you can use the Instant Buying Power feature to make trades as you’re waiting for the transfer to arrive in your account.

While this may not equal the full amount of your deposit, over time, as you build your account, Webull may increase your Instant Buying Power limit, so you can have access to more funds as you’re waiting for your transfer to arrive.

This is a decent compromise since you can trade instantly. Although this may not be as efficient as instant deposit, for a free trade platform, this automatic feature is certainly a plus point, particularly for new traders who are keen to get started.

Webull currently offers new users up to 12 free stocks for trying the platform. You’ll get two free stocks (each worth $3 – $300) for signing up. Deposit at least $100 to get up to 10 more free stocks worth $7-$3,000 each. Sign up for Webull through this link to be eligible for the bonus.