My Options Application

To apply for options trading, follow the steps below to navigate the Webull mobile app, website, and desktop application:

App:

1. Tap the Webull logo (bottom center)
2. Tap Account Management (top right)
3. Navigate to the desired account and tap Option Trading Level.
4. Tap Apply for Options Trading.
5. Follow the prompts and complete your application.

Desktop:

1. Navigate to Account.
2. Within the Account page, click Options Trading within the Account Details widget.
3. Select Apply for Options Trading.

Web:

1. Navigate to My Account.
2. Under My Account, select the applicable account and click Manage My Account.
3. Within the Trading Privileges category, select View Details to the right of Options Trading.
4. Click Apply for Options Trading.

How long does the application process take?

Your options application is typically processed within 1-2 business days, or even immediately. You will receive a notification via email and an in-app message once a decision has been made.

My application says its pending. What documents do I need?

If you are asked to verify your trading experience, the following documents are acceptable:

• Form 1099-b showing trading activity from an outside brokerage.
• Monthly brokerage statements showing trading activity from an outside brokerage.
• Trade confirmations from an outside brokerage.

If you are asked to verify your liquid net worth, the following documents are acceptable:

• Recent brokerage statements
• Recent bank statements
• Recent Forms W-2 (g) (gambling winnings)
• Recent bills of sale
• Other recent documents showing identifying information and a static asset balance

Note: Income statements such as pay stubs, standard W-2 forms, 1040, etc., cannot be used for this purpose.

If you are asked to verify your employment status, the following documents are acceptable:

• Recent pay stubs
• Recent tax documents issued by your employer
• Employment letters or contracts

Please ensure that all documents provided bear your legal name as it appears on your Webull account, or be prepared to provide a government issued document verifying your name change. Documents pertaining to accounts held by another person cannot be considered in a review of your account. Custodial account documents will be considered only to pertain to the named custodian.

Please note, these documents must be recent and obtained from an outside broker. Once you have located these documents, please upload them to our in-app Help Center by using the following instructions:

App:

1. Navigate to Menu.
2. Within the Shortcuts section, tap Help Center.
3. On the bottom center, select Contact Us.
4. Select the account you applied within under Which account is your inquiry related to?
5. Under Question, please describe what documents you have uploaded.
6. Tap the plus (+) icon to attach files.
7. Select Submit.

My options application was rejected. Why?

The firm will assess your options application and approve or reject it based on the information you provide. If we request additional information and do not receive a response from you within 15 days, your application will be rejected. In the event of a rejection, you may need to wait up to 7 days before you can reapply. Please be aware that this reapply date cannot be expedited.

How can I disable options trading?

Please note that disabling options trading will remove all options trading permissions from your account. You will need to reapply if you wish to trade options again. You will not be permitted to reapply for at least 30 days after disabling your options permissions. To remove options trading from your account, please follow the instructions below for our mobile app, website, and desktop:

App:

1. Tap the Webull logo (bottom center)
2. Tap Account Management (top right)
3. Navigate to the desired account and tap Option Trading Level.
4. Tap Close Options Trading.
5. After reading the notification and waiting 10 seconds, tap Confirm.

Desktop:

1. Navigate to Account.
2. Within the Account page, click Options Trading within the Account Details widget.
3. Select Close Options Trading.
4. After reading the notification and waiting 10 seconds, tap Confirm.

Web:

1. Navigate to My Account.
2. Under My Account, select the applicable account and click Manage My Account.
3. Within the Trading Privileges category, select View Details to the right of Options Trading.
4. Click Close Options Trading.
5. After reading the notification and waiting 10 seconds, tap Confirm.

Option trading entails significant risk and is not appropriate for all investors. Option investors can rapidly lose the entire value of their investment in a short period of time and incur permanent loss by expiration date. You need to complete an options trading application and get approval on eligible accounts. Please read the Characteristics and Risks of Standardized Options and Option Spread Risk Disclosure before trading options.