[Webull Omnibus] What does Webull charge to transfer securities?

There are several methods for customers to utilize to transfer securities and/or funds. The most common type of transfer is an ACAT (Automated Customer Account Transfer). These transactions occur between two broker dealers (DTC members) and is initiated from the perspective of the new broker. These transactions can be a partial or full transfer.  If you choose a full ACAT your account at the sending broker dealer will automatically be closed, which is standard procedure. These transfers can take between 3-7 business days and a fee from the sending broker assessed, typically $75-$100.

Transferring securities to Webull (Incoming) : $0 

Webull does not charge for any incoming transfers. However, your delivering broker may charge you for an outgoing transfer. Please contact your delivering broker for details on fees. To avoid an ACAT fee for cash only transactions, you may withdraw the funds and then redeposit them in your Webull account.

Transfer securities from Webull (Outgoing): $75 

If you make an outgoing ACAT transfer (cash and/or securities) to another broker, we will assess a $75.00 fee.

Direct Registration System (DRS) Fees

Webull holds all positions under the street name. We do not currently offer direct registration which allows investors to have their security registered in their name on the books of the issuer registered shares held by individuals. We charge a $115 fee per position to transfer shares out to the issuer or company transfer agent to register the shares. If the transfer fails, there will be an additional fee of $125 per rejected transfer.