After the Transfer

Can I move assets out immediately after transferring in?

No, you cannot transfer out or withdraw assets immediately after transferring them into your account. Assets transferred to Webull are subject to a holding period of up to 30 days. This hold period begins the day after the transfer has settled.

Why does my cost basis look different after transferring into Webull?

The cost basis of your positions might look different after transferring assets into Webull if the delivering brokerage did not provide the cost basis information. In this case, we will use the asset's closing price on the day it arrives to determine the cost basis.

How is my profit and loss calculated after a transfer?

The performance and Profit/Loss (P/L) displayed in your account is based on this new cost basis. However, your P/L is for display purposes only and does not impact your actual profit or loss. Once the original cost basis is received from your delivering financial institution, your profit and loss figures will be updated accordingly.

How long does it take to verify my cost basis after a transfer?

It can take 10-15 business days after an ACAT transfer completes for the cost basis information to be verified and updated. After the update, you will be capable of viewing your average cost basis on all platforms. If your information is not received in this timeframe, please contact the delivering broker to resend your cost basis data.

How do I update my cost basis after a transfer?

If your delivering brokerage did not supply the cost basis, you can manually update it in the app within 60 days after the transfer is completed. To update your cost basis, please follow these instructions:

App:

1. Select Account (bottom center).
2. Tap Transfers ➝ Transfer Assets ➝ Transfer In.
3. Tap the Clipboard icon (top right).
4. Select the edit icon to the right of the security that needs to be modified.

Lite:

1. Tap the head and shoulders icon.
2. Select Banking and Transfers and select the desired account.
3. Locate Transfer Accounts ➝ Transfer In.
4. Tap the Clipboard icon (top right).
5. Select the edit icon to the right of the security that needs to be modified.

Will updating my cost basis in the app affect my tax documents?

This adjustment in the mobile app will update your cost basis cosmetically. We must receive your cost basis data directly from your delivering broker in order to update your official tax documents. If you believe the cost basis is incorrect, please contact your delivering firm to resend the corrected information.

How many times can I update my cost basis in the app?

You may adjust their cost basis up to three times within the app. Any additional changes beyond this limit must be submitted with the assistance of Client Services.