Webull? Any experiences? Considering 3.5% or 2% match on transfers

[bluecollarmusician]

Just curious is anyone has experience with Webull.

They have an offer (ends today I think) to get 3.5% match (paid out over 5 years) for funds transferred.  On a million dollar IRA, that's 7 grand a year for 5 years- just to transfer over. 

I don't trade often,  the average age of my stock holdings in my IRA are probably 5-10 years old.

Anyone have insights or thoughts on this? 
I have long been out of the "game" of churning cards/accounts etc.
Seems a little too good to be true- just for moving it from Etrade would fully fund the IRA for the next 5 years.

Alternatively, if you transfer in any combo of brokerage accounts you can get 2% paid out over 2 years.
On a combined amount of 1millIRA and 1 MIll brokerage accounts, would yield 40 grand over 2 years.

I should add, I have been with Etrade since the late 90s.  I am used to it, but also have not been impressed with the service over recent years.

Thanks!!

[EliteZags]

I've had most of my taxable individual stocks in Webull for a number of years due to having the best webtrade and app interface for trading, and smoothest system for extended hours orders with generous 4AM-7PM EST timeframe

when all these IRA transfer promos came out this year I opted for the no longer avail almost too good to be true 3% from Robinhood which paid the bonus for Roth within the Roth so untaxed and all upfront which was crazy
(held back on rolling over 401Ks to preserve backdoor Roth capability)


whereas Webull bonus is paid into taxable brokerage and over 5 year timeframe, though I do think 3.5% is the best offer currently out there

I did take advantage of the limited time 3% taxable brokerage transfer a few months back to move the rest of my individual holdings from Vanguard to Webull so now have ~30% of my portfolio there

also you'd have to convert index/mutual funds to equivalent ETF's before transferring

invite link for free shares: https://www.webull.com/ko-yield/1701327830114-ce45e5?__app_cfg__=%7B%22supportTheme%22%3Atrue%7D&inviteCode=2nG9ORrzuKDl&source=DecemberSpecial&hl=en

[bluecollarmusician]

Thanks for the input @EliteZags

I was also bumping this with the hopes maybe someone else has experience?

Seems like pretty good deal of guaranteed money for someone holding mostly stocks in their portfolio!

[bluecollarmusician]

btw- the Robin Hood promo-paid into Roth would have been amazing!
As it is, not excited about taxable income, but seems crazy not to take the free money.  Especially in my Roth, not moving money in or out (and barely ever trade in there) for the next 10-15 anyway...

[baconschteam]

This is funny, I posted the same inquiry within 30 mins of you. Wondering if anybody has any reasons why this could be a bad idea.

[tj]

I did their offer for free shares of stock a couple years ago. I didn't like their app. I wouldn't want to be locked in to them long term. They are Chinese owned, so I'm not exactly how secure your data is vs say Schwab or Fidelity