Understanding the Recurring Investment Program

What is the recurring investment program?

The recurring investment program allows investors to automatically invest in a selected stock, ETF, or Wefolio at regular intervals. This feature is only available on the Webull mobile app and is supported in individual cash brokerage accounts, margin accounts, and IRA accounts.

All recurring investment actions are carried out based solely on client instructions and do not constitute investment advice or recommendations.

How do I set up a recurring investment plan?

1. Choose a target stock, ETF, or Wefolio.
2. Select the ⋮ icon at the bottom right corner to find recurring investment.
3. Follow the prompts and confirm.

Once the setup is complete, orders will be placed according to the interval you selected.

What is a dynamic recurring investment, and how does it differ from fixed recurring investment?

Dynamic recurring investment

The dynamic recurring investment feature adjusts the investment amount based on market conditions to aid in dollar-cost averaging. The amount invested decreases when the previous closing price is above the benchmark's moving average and increases when it is below. Conversely, a Fixed Recurring Investment maintains the same investment amount for each interval, regardless of market conditions.

Dynamic recurring investment parameters

• Benchmark: Targeted symbols such as the S&P 500, NASDAQ, DJI.
• Moving Average Period: Options include 120-Day, 250-Day, 300-Day.

Investment amount calculation (Dynamic)

The actual investment amount will be made based on the previous trading days close.

• Actual Investment Amount = Designated Investment Amount * Multiplier

Note, the investment amount will vary, but the schedule and settings remain fixed. You can adjust or cancel the recurring investment at any time.

What are the benefits and requirements for recurring investments?

Benefits

• Saves time and effort by automating recurring buy orders.
• Reduces the difficulty of timing investments; the system automatically buys selected stocks, ETFs, or Wefolios based on your settings.

Requirements

• Recurring investments are available on Webull app version 8.0 or higher.
• Dynamic recurring investments require version 8.4.6 or higher.
• Each account can have up to 25 ongoing recurring investment settings that differ by ticker, frequency, or date.
• Only one recurring investment can be modified per day.

What investments are available for recurring investments?

You can create recurring investments for any stock available for fractional trading and several ETFs. Each security in a Wefolio must also support recurring investment. Stocks eligible for fractional trading have a green diamond icon on the detail page.

Dynamic recurring investments are only available for individual stocks and standard ETFs. They are not supported for:

• Wefolios
• Inverse ETFs
• Leveraged ETFs
• Volatility ETFs

What are the payment methods and fund requirements for recurring investments?

You can fund your recurring investments using either your existing account balance or by linking a bank account and setting up a recurring deposit. If using a linked bank account, keep in mind that ACH deposits typically take up to 4 business days to settle before the funds become available for investment. Recurring contributions for IRAs can also be scheduled directly through the mobile app.

Investment amounts

• Fixed amount: Minimum $1, maximum $25,000 per setting.
• Dynamic amount: Minimum $2, maximum $125,000 per setting.

Investment frequency options

1. Every Trading Day (Only available for fixed amount investments)
2. Weekly (Select a weekday)
3. Every Two Weeks (Select a weekday)
4. Monthly (Select a date)

How does the recurring investment setting work?

The system places a market order around 1:30 PM EST (or 10:30 AM EST if the market closes early) on your chosen date. If the date falls on a non-trading day (weekend or market holiday), the order will be placed on the next business day.

Skipped investment cycles

An investment cycle will be skipped if:

• The ticker is not available for trading.
• Your account is restricted from trading.
• There are insufficient funds in the account.
• There is an open margin call or a potential margin call if the order is executed.

How can I modify or cancel a recurring investment setting?

You can modify or cancel your plan via the Webull mobile app:

App:

1. Tap the Webull logo to select your account.
2. Select Orders ➝ Recurring Investment Plan.
3. Tap the plan you are looking to manage.
4. Select Modify or Cancel.

Please note:

• Only one recurring plan can be modified per day.
• For plans set up via recurring deposit, only the investment amount can be changed.

How could my recurring investment plan be cancelled?

Cancellations can happen for a number of reasons. The following are the most common partial and full cancellations:

Full Cancellation

• When there is an outbound stock transfer request on the Webull account.
• During an account type change process.
• If the account owner is deceased.

Partial Cancellation

• When there is a corporate action on the stock/ETF.
• When the ACH relationship supporting a recurring deposit is canceled.
• When a Wefolio is closed or deleted.
• The plan will also be canceled if the linked bank account is removed

Recurring investment feature available on Webull places market orders only in cash brokerage accounts, cash IRA accounts, and margin accounts for individuals. This feature only acts specifically on client instruction and does not involve or constitute advice or recommendations. To end or change recurring investment, cancel or edit instructions at any time.

All investments involve risk and not all risks are suitable for every investor. The value of securities may fluctuate and as a result, investors may lose more than their original investment. The past performance of a security, or financial product does not guarantee future results or returns. Keep in mind that while diversification may help spread risk it does not assure a profit, or protect against loss, in a down market. There is always the potential of losing money when you invest in securities, or other financial products. Investors should consider their investment objectives and risks carefully before investing.

Free trading of stocks, ETFs and options refers to $0 commissions for Webull Financial LLC self-directed individual cash or margin brokerage accounts and IRAs that trade U.S. listed securities via mobile devices, desktop, or website products. Relevant regulatory and exchange fees may apply.

Read carefully before investing: https://www.webull.com/policy

Webull Financial LLC, Member FINRA/SIPC/NYSE/NASDAQ/CBOE EDGX