Do you trust Webull asking for bank login information?
Asked 3 years ago
Webull concerns me. An overseas company is asking for my bank login information. Does that make anyone else uncomfortable?
Andia Rispah Igobwa
Friday, May 07, 2021
YES: Webull is absolutely safe to use and regulated by the SEC and FCA just like all other competitors. It’s not a scam in any way. In fact, Webull may even be a safer and good stock trading app for both beginners and advanced traders.
It’s also an easier to use and more powerful trading platform.
Wednesday, May 26, 2021
While it is owned by Fumi Technology, a Chinese holding company that is mainly funded by Xiamoi, the company is headquartered in New York. WeBull is regulated by the Securities and Exchange Commission (SEC) in the United States. WeBull also offers a maximum of $500,000 in investor protection.
Here are some other things to note:
- When you link your bank accounts, WeBull will make two micro deposits of less than $1.00 to verify your account.
- It takes two business days for the deposits to appear in your account.
- You can choose between a wire transfer (faster deposits) or an electronic transfer (takes five business days to settle).
Overall, the account process is not too different from other brokerage firms.
Monday, August 23, 2021
Webull is one of the best platforms in the market and consequently, they provide a good level of security. It is currently regulated by Securities Investor Protection Corporation's (SIPC) . It not only gives a limit of $250000 for cash but also maximum investor protection of $500000. SIPC's headquarter is in Washington, DC, so your information is under the supervision of a US based company.
Joan Toohey Gerlach
Thursday, November 11, 2021
Monday, January 24, 2022
Webull is safe and secure. It is regulated by the SEC and FCA, and it is not a scam. You have to enter your bank login details in order to verify that you are the owner of the account. If you are not comfortable with this, you may be able to verify your account ownership using your account number and routing number. However, that may take up to 2-3 days before your account is fully verified.
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