I’ve written a lot about stocks and the stock market here, but I have never done a guide for beginners on how to actually get started. I’m going to rectify that by showing you how to buy stocks on Webull which is the stock market app that I use the most and my favorite out of all of them.
I like Webull so much because the app gives you a wealth of information about stocks, an option to short sell, and the option to create IRA accounts. Plus, if you deposit at least $100, you get free stocks.
I want to mention that this is not financial advice; this is just a guide on how to create a Webull account.
How to Create a Webull Account
First, you download the Webull app from your preferred app store, and once you open up the app, select Open Account at the bottom and tap the Open Account button in the middle.
At this point, you will need to add either an e-mail or phone number and then you will receive a verification code that will be sent to your e-mail address or phone, depending on which one you chose.
Create a password that meets Webull’s security criteria.
Select Open Account at the bottom again and click the center button again where you will be asked to submit an application to be allowed to buy and sell.
You will have to upload a picture of some kind of identification, be it a driver’s license, state ID, passport, or something else. Once you do, you will be asked to give more information such as your date of birth, social security number, and address.
You will be given a questionnaire to fill out about who you are as an investor. Next, mark down what type of account you want and then read over the agreements and disclosures.
Once you submit an application, it’s going to take a few business days for Webull to approve your application.
Once Webull approves your account, you’ll be able to buy your first stock and you can start by selecting deposit on the bottom bar and tap Make Your First Deposit. You can also select Transfer if you want to move over other stocks you have on another platform.
From here you select how you want to transfer money from your bank account to Webull, either by wire or automated clearing house. For this guide, I will select ACH.
Be sure to read the Notice as it has important advice and select how to verify your bank account. Webull uses Plaid, a financial services company that connects your bank account to the Webull account. Choose your bank and enter your login credentials and follow the on-screen instructions to verify your identity.
Once your identity is verified, Plaid will ask which account you want to link. I recommend your checking account.
Webull will then ask you how much you want to deposit from your account to the app and make sure you’re comfortable with the amount as Webull penalizes users who reverse their transfer. It may take a few days for the transfer to complete.
The app will then ask you to create a trading password which is a six-digit number that you will need to input every time you buy or sell a stock.
With that, you have created a Webull account and once that money is transferred into your account, you will be able to purchase stocks. Keep an eye out for the next installment when I show you how to purchase a stock.