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Webull

Transfer From Webull To E-Trade (Complete 2022 Guide!)

Jamey Muller
Updated: July 14, 2022
5 min read

Have you considered transferring your Webull account to E-Trade? You might even wonder if this is even possible. We have some exciting news to share with you. You can do it, and the process is simpler than you think, and we'll help you get through it!

How to Transfer From Webull to E-Trade:

If you want to transfer stocks from Webull to E-Trade, you can use the ACATS. However, if you want to transfer cryptocurrency, you must first sell it and withdraw it from your Webull account to your bank account before depositing it into your E-Trade account.

Here is a step-by-step guide for transferring from Webull to E-Trade:

For Stocks:

1. Check your E-Trade account to ensure that it has the same account type as your Webull.

2. Before transferring funds, close any open trades in Webull.

3. Open your E-Trade account and navigate to Transfers.

4. Tap “Accounts” and enter the necessary information.

5. Use your E-Trade account to submit the ACATS application.

For Cryptocurrencies:

1. Locate the cryptocurrency you want to sell and start selling it in Webull.

2. Select “Trade” and then “Sell” from the menu.

3. Then, before clicking “Sell” and “Confirm,” select the portion of the asset you want to sell.

4. After you've sold the assets successfully, go to the “Transfer” button at the top of the website and then click the “Withdraw” tab.

5. You will then be directed to a withdrawal form with a list of all of your funds.

6. Select a bank account to link to your Webull account.

7. Enter the desired value after selecting the currency to withdraw. Then, from the menu, choose “Withdraw.”

8. Prepare your E-Trade account after successfully transferring the money to your bank account.

9. In the upper left corner of the E-Trade App, select “Accounts.”

10. After that, click on move money and then money transfer.

11. Then, to connect a new bank account, select add eternal account.

12. After that, a new page will appear where you can enter your bank information.

13. Enter and confirm the amount you want to deposit.

There are numerous reasons why you might want to switch your investments from Webull to E-Trade. Whatever the reason, it's critical to think about everything involved throughout the process. So, carry on reading because this article has the answers to your questions. 

How Long Does It Take To Transfer From Webull to E-Trade?

If you want to transfer stocks from Webull to E-trade, be prepared to wait 5-7 days for the ACATS transfer process.

This is due to the fact that ACATS is a service that allows stock transfers between two brokerage firms. The time it takes to complete an ACATS transfer is determined by several factors, including the number of shares being transferred as well as the size and complexity of your account.

If your account contains a variety of assets or a large amount of cash, this may slow the transfer process.

However, if you intend to transfer cryptocurrencies from Webull to E-Trade, you must consider the time required to transfer Webull to a bank account and then from the bank account to E-Trade since you cannot transfer crypto directly from Webull to E-Trade.

Webull transfers to your bank account can take up to three business days, whereas E-trade takes much less time! By using a wire transfer, you can deposit money into E-trade from your bank account, and it will be available in your account within the same business day.

How Much Does It Cost to Transfer From Webull to E-Trade?

For stocks, keep in mind the $75 fee for outgoing stock transfers from Webull to E-Trade.

When withdrawing money from Webull to your bank account, fees apply, and they vary depending on the type of wire transfer you use. This is important to keep in mind if you're thinking about transferring cryptocurrency. 

Prior to making a withdrawal from your bank account, remember that there are different fees for domestic and international wire transfers.

According to Webull, they will charge $25 for domestic wire transfers made inside the United States and $45 for international wire transfers.

E-Trade, on the other hand, does not charge any fees when you deposit from your bank account!

Is E-Trade Really Better Than Webull?

E-Trade and Webull are both great options for people looking to invest their money.

Both platforms provide many of the same features, such as low fees, real-time data, and simple ways to buy and sell stocks. However, there are some significant differences between the two platforms that make them more suitable for certain types of investors.

E-Trade, for example, provides additional tools and research options that Webull does not. E-Trade also allows you to trade bonds and mutual funds, which Webull does not.

Another feature that distinguishes E-Trade from Webull is the ability to open joint brokerage accounts with a spouse or someone else.

Using E*Trade over Webull will also allow you to do futures trading, which Webull does not have. This means that if you want to invest in futures contracts such as gold or oil futures, only E*Trade can meet your needs.

Webull, on the other hand, is for those looking for an online broker with lower margin interest rates. It has lower fees while providing the same user experience as E-Trade.

Can You Transfer Crypto From Webull to E-Trade?

It is not possible to transfer cryptocurrency from Webull to E-Trade directly.

Due to Webull's lack of a method for transferring your cryptocurrency outside of the platform, this is not an option. This includes any transfers that take place within the same exchange (such as transfers between wallets on E-Trade).

This means that if you want to withdraw your crypto from Webull, you must first convert it into fiat currency and then transfer the fiat currency to a bank or credit card account. From there, you can then use the funds on another platform. 

You may be able to do this on E-Trade by first converting your crypto into USD and then depositing those funds into your E-Trade account via ACH or wire transfer.

Can You Transfer Options From Webull to E-Trade?

Options cannot be transferred directly from Webull to E-Trade. To do so, you must first withdraw your options from Webull and transfer them to your bank account before depositing them into your E-Trade account.

Webull users cannot transfer their options directly to E-Trade because the two companies are not the same. Webull is a platform for trading options, and E-Trade is a full-service brokerage firm. While they share some characteristics, they also have significant differences.

Why Can’t I Transfer From Webull to E-Trade?

You cannot transfer cryptocurrency funds from your Webull account to your E-Trade account.

This is due to the fact that the two companies are regulated at different levels. Webull is not regulated by the SEC, whereas E-Trade is. As a result, there are some restrictions on what you can do with your money and how it is managed.

Sources:

ETrade: Ways to fund
ETrade: FAQs 

Written by
Jamey Muller
I'm the head-writer @ Knowledge Eager (or, in plain English, I'm the guy writing the majority of the content here). Addicted to the stock market, football, sushi and tacos.
Have any questions? Write us a message.
Jamey Muller
I'm the head-writer @ Knowledge Eager (or, in plain English, I'm the guy writing the majority of the content here). Addicted to the stock market, football, sushi and tacos.