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Business Profile

Investment Management

Webull Financial LLC

This business is NOT BBB Accredited.

Find BBB Accredited Businesses in Investment Management.

Complaints

Customer Complaints Summary

  • 122 total complaints in the last 3 years.
  • 116 complaints closed in the last 12 months.

If you've experienced an issue

Submit a Complaint

The complaint text that is displayed might not represent all complaints filed with BBB. Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business.

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Complaint status

Complaint type

  • Initial Complaint

    Date:08/07/2023

    Type:Billing Issues
    Status:
    Resolved
    Resolved:
    The complainant verified the issue was resolved to their satisfaction.
    Unresolved:
    The business responded to the dispute but failed to make a good faith effort to resolve it.
    Answered:
    The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
    Unanswered:
    The business failed to respond to the dispute.
    Unpursuable:
    BBB is unable to locate the business.
    WeBull refuses to close / delete my account When I signed up with WeBull I was gifted a fractional share ( *****% of one share of TSLA ) as a "gift" that is currently worth $10.04.I am currently attempting to close my account but ********************** requires the account to be at zero value. The issue is that webull does not allow me to sell the fractional share or cash it out in any way. They also will not allow me to purchase the ***** of a share needed to make 1 whole share.I've requested the partial share be forfeited. I don't care what they do with it. They can take it back or gift it to charity. I just want the account closed once and for all. This is a bait and switch tactic that is being used by china owned webull to make it difficult/impossible for a user to close the account in such circumstances where a partial share of a stock has been "gifted" to the user.Since they have a direct link to my bank account I am not comfortable leaving the account open. I have sent an email and responded three times so far as the reply from webull is autogenerated and does not even attempt to solve my problem. Please help. It shouldn't be this hard. I have all of my assets transferred out. I just want the account closed immediately.Thank you,***************************

    Customer Answer

    Date: 08/18/2023

    Better Business Bureau:

    I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me and the matter has been resolved.

    I want to also say thank you for the response to my letter and complaint.  I really appreciate you all being there to help average people like me and to ensure that business's are behaving in an ethical and fair manner.

    Sincerely,

    ***************************



     

  • Initial Complaint

    Date:07/06/2023

    Type:Service or Repair Issues
    Status:
    Answered
    Resolved:
    The complainant verified the issue was resolved to their satisfaction.
    Unresolved:
    The business responded to the dispute but failed to make a good faith effort to resolve it.
    Answered:
    The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
    Unanswered:
    The business failed to respond to the dispute.
    Unpursuable:
    BBB is unable to locate the business.
    I have an account with **********************. Webull does not have a DRIP program which is something I want. So I decided to move my account/securities from Webull to ******. This should be a fairly straightforward process (that happens all the time). Before TD Ameritrade became ****** I was able to do this without an issue; however, now I have tried to move my account/securities 5-6 times and Webull keeps DENYING the transfer. I have chatted and called with no resolution, they say they will open a case and nothing happens, this has been going on for almost 4 months. I need Webull to approve my transfer of securities to the new brokerage company.

    Business Response

    Date: 08/18/2024

    Hi *******,

     

    We are unable to discuss account specific details through this platform. Please reach us by phone-************ or ************************************************.

  • Initial Complaint

    Date:06/28/2023

    Type:Billing Issues
    Status:
    Answered
    Resolved:
    The complainant verified the issue was resolved to their satisfaction.
    Unresolved:
    The business responded to the dispute but failed to make a good faith effort to resolve it.
    Answered:
    The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
    Unanswered:
    The business failed to respond to the dispute.
    Unpursuable:
    BBB is unable to locate the business.
    Trying to close out my account after 5 years and they r refusing to release my funds claiming the information they have regarding my bank has changed. I reviewed the information and it's exactly the same as it has for 5 years so theres nothing i can update.Either they have computer errors or they are thieves. Regardless I want my money back and will go to great lengths to have this buisness exploited for fraud

    Customer Answer

    Date: 07/23/2023

    Better Business Bureau:

    At this time, my complaint, ID ******** regarding Webull Financial LLC has been resolved.

    (By clicking "OK", your complaint will be closed as Resolved.)


    Sincerely,

    *******************

    Business Response

    Date: 08/18/2024

    Hi ****,

     

    We are unable to discuss account specific details through this platform. Please reach us by phone-************ or *********************************

  • Initial Complaint

    Date:06/13/2023

    Type:Product Issues
    Status:
    Answered
    Resolved:
    The complainant verified the issue was resolved to their satisfaction.
    Unresolved:
    The business responded to the dispute but failed to make a good faith effort to resolve it.
    Answered:
    The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
    Unanswered:
    The business failed to respond to the dispute.
    Unpursuable:
    BBB is unable to locate the business.
    I had a $45k brokerage account with ********************** and my ID expired so they restricted my account till I can get a updated id on file. Due to me being unable to get a new ID in a timely manner they sent me an email stating that they have decided to end out business relationship as of 5/18/23. In that email they stated that I had ************************************************************ they will liquidate all my stock at current market rate and deposit the proceeds to the account they have on file. I contacted them and ask about the full transfer and was given instructions. On 5/26/23 I received another email stating that the full transfer was completed. However my largest positions for some reason was not transfer over to my new broker. I have contacted them to enquire and I was told I have to exit the "stock lending program" so I tried and that feature was restricted. So after email them again and ask "How is it that you all sent me a 10 day notice to transfer or liquidate my stock, but continue to lend my stocks out for profit?" They reply was I have to tell them to exit me from the program before they will stop lending out my stocks. Would it not be self explanatory that I had no way to stay in the lending program if they decided to end out professional relationship on 5/18/23? I would I have stay in the program if they give me 10 day to get my funds out?I feel webull lended my shares and couldn't cover them when it's time for me to transfer them, and now they are buying themselves time to get the shares. I have lost money in the market because they have my shares tied up and my account restricted. While they rack up profit lending my shares. I feel there is some type of fraudulent activity taking place.

    Customer Answer

    Date: 07/07/2023

    Better Business Bureau:

    At this time, I have not been contacted by Webull Financial LLC regarding complaint ID ********.

    Sincerely,

    ***********************************

    Business Response

    Date: 08/18/2024

    Hi **********

     

    We are unable to discuss account specific details through this platform. Please reach us by phone-###-###-#### or *********************************

  • Initial Complaint

    Date:05/15/2023

    Type:Product Issues
    Status:
    Resolved
    Resolved:
    The complainant verified the issue was resolved to their satisfaction.
    Unresolved:
    The business responded to the dispute but failed to make a good faith effort to resolve it.
    Answered:
    The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
    Unanswered:
    The business failed to respond to the dispute.
    Unpursuable:
    BBB is unable to locate the business.
    Webull is a brokerage to trade stocks. They sent an email about a new business relationship with ************************* and clients would be migrated/transferred from a fully disclosed to an omnibus clearing arrangement as the carrying firm. ************************* is that carrying firm and they charge $75 to move funds from Webull account to another brokerage. However, in Webull's email it was mentioned "You Have the Right to Object to the Transfer" and avoid fees. I notified Webull's customer service per their email request. After making sure I was doing things right with Webull, I initiated a transfer at Vanguard. Webull charged me the $75 anyway! Now I'm having a problem with Webull reimbursing me the money. Webull **************** asked for proof that the other brokerage, Vanguard, will not reimburse their fee. Weird..that was never mentioned in the original email. However, I provided that proof too and was told I'm on the refund list. 3.5 months have past now and still no refund. These 3 Webull emails attached detail our conversations and I believe is plenty evidence against Webull. Please help me get my reimbursement. I feel this is theft and there are probably many more Webull customers that were incorrectly charged.

    Business Response

    Date: 05/16/2023

    Hi there,

    Thank you for reaching out! Unfortunately we are unable to identify your Webull ID through this email. Please contact us through our in-app help center to receive better assistance and we will get back to you as soon as possible!

    If you are having problems logging into your Webull account please try your other login method (mobile phone/e-mail) or resetting your password by clicking "Forgot password?" on the login page. If you still have issues or have lost access to your registered email/mobile number, please reply to this email and provide your old email/mobile number and we will be happy to help!

    Regards,
    Webull

    Customer Answer

    Date: 05/16/2023

    Better Business Bureau:

    I have reviewed the response made by the business in reference to complaint ID# ********, and have determined that my complaint has NOT been resolved because:

    Every email attached to my complaint has my Webull Account ID: ********.  All I get from ********************** customer service is excuses and delays.  Take ownership of your mistakes and make things right.  I've always replied with my Account ID.  I will not give up!  I want to resolve through ******************* now.  Reaching out to Webull directly has not worked.  ************************

     

     

     

     

    In order for the BBB to appropriately process your response, you MUST answer the question above.


    Sincerely,

    ***********************




     

    Business Response

    Date: 08/18/2024

    Hi *****

     

    We are unable to discuss account specific details through this platform. Please reach us by phone-###-###-#### or email**************************** 
    Transfer fees are charged by the clearing agent. Visit our pricing page to find out more: ****************

    Customer Answer

    Date: 08/20/2024

    Better Business Bureau:



    I have reviewed the response made by the business in reference to complaint ID ********* and find that this resolution is satisfactory to me and the matter has been resolved.



    Sincerely,



    **** *******



     
     

  • Initial Complaint

    Date:03/13/2023

    Type:Billing Issues
    Status:
    Resolved
    Resolved:
    The complainant verified the issue was resolved to their satisfaction.
    Unresolved:
    The business responded to the dispute but failed to make a good faith effort to resolve it.
    Answered:
    The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
    Unanswered:
    The business failed to respond to the dispute.
    Unpursuable:
    BBB is unable to locate the business.
    Date of Transaction: March 10, 2023 Webull Financial withdrew $1,000 from my checking account. Unfortunately I had no knowledge of this company, the withdrawal was UNAUTHORIZED. My credit Union is filing a grievance with Webull and put a block on the account.

    Customer Answer

    Date: 03/16/2023

    Better Business Bureau:

    I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me and the matter has been resolved.

    Sincerely,

    *********************************



      Better Business Bureau:

     

    A deposit of $1,000 was made to my checking account 3/15/2023.  The deposit just read deposit so I am assuming it was from Webull to their credit.  I appreciate any efforts your company made on my behalf.


  • Initial Complaint

    Date:03/06/2023

    Type:Billing Issues
    Status:
    Answered
    Resolved:
    The complainant verified the issue was resolved to their satisfaction.
    Unresolved:
    The business responded to the dispute but failed to make a good faith effort to resolve it.
    Answered:
    The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
    Unanswered:
    The business failed to respond to the dispute.
    Unpursuable:
    BBB is unable to locate the business.
    Webull keeps emailing me saying my statement is ready. I have not opened an account with them. I have reached out to customer service to see what is going on and they keep emailing me back with a link to activate an account. If it is true that I have a statement ready I should already have an account active and they should be able to either email me or mail me a copy of the statement. Instead they keep trying to get me to create an account.

    Business Response

    Date: 08/16/2024

    Hi *******,

    We are unable to discuss account specific details through this platform. Please reach us by phone-************ or ************************************************. 

  • Initial Complaint

    Date:01/20/2023

    Type:Billing Issues
    Status:
    Answered
    Resolved:
    The complainant verified the issue was resolved to their satisfaction.
    Unresolved:
    The business responded to the dispute but failed to make a good faith effort to resolve it.
    Answered:
    The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
    Unanswered:
    The business failed to respond to the dispute.
    Unpursuable:
    BBB is unable to locate the business.
    Webull removed deposited funds that were already settled. Multiple other deposits were accepted after this particular deposit all funds are in account. I documented funds settled 7 days after $750 deposit, webull forced liquidated positions that are unwarranted. I have also documented and have emails that reply to webull who was requesting access to bank account through plaid after link had failed. I seek monetary compensation for this horrendous error.

    Business Response

    Date: 08/16/2024

    Hi ****,

     

    We are unable to discuss account specific details through this platform. Please reach us by phone-************ or ************************************************.

  • Initial Complaint

    Date:12/14/2022

    Type:Product Issues
    Status:
    Answered
    Resolved:
    The complainant verified the issue was resolved to their satisfaction.
    Unresolved:
    The business responded to the dispute but failed to make a good faith effort to resolve it.
    Answered:
    The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
    Unanswered:
    The business failed to respond to the dispute.
    Unpursuable:
    BBB is unable to locate the business.
    The company has not fulfilled the advertisement for matching funds for amounts transferred to their platform. ****** get a response from them other than look on their app that tells you nothing.

    Customer Answer

    Date: 01/08/2023

    Better Business Bureau:

    At this time, I have not been contacted by Webull Financial LLC regarding complaint ID ********.

    Sincerely,

    ***********************

    Business Response

    Date: 08/16/2024

    HI *****,

     

    We are unable to discuss account specific details through this platform. Please reach us by phone-************ or email-******************************************* Please feel free to read the terms and conditions of the promotions prior to participation. 

  • Initial Complaint

    Date:09/22/2022

    Type:Sales and Advertising Issues
    Status:
    Answered
    Resolved:
    The complainant verified the issue was resolved to their satisfaction.
    Unresolved:
    The business responded to the dispute but failed to make a good faith effort to resolve it.
    Answered:
    The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
    Unanswered:
    The business failed to respond to the dispute.
    Unpursuable:
    BBB is unable to locate the business.
    I owned a stock (TYME) for over a year. On Friday, 9/16/2022 that company completed a merger with SYRS. Per the SEC filings, I was to receive .4 shares of SYRS for each 1 share of TYME. I had **** shares of TYME. On Monday morning I woke up and saw that after the merger, I was up roughly $12,000. I immediately sold all my shares. The following day, Tuesday 9/20/2022, I woke up and saw that SYRS was back in my porfolio, but now with a negative amount of shares and stating I was in debt $16,000. I immediately called WeBull, and was informed that the clearing firm had made an error. SYRS announced a **** reverse split that was to be executed on Monday, and rather than .4 shares, I should have had .04 shares. After I sold my shares on Monday, SYRS trading was halted, however it was available for trade when I sold my shares, prior to the split. If WeBull intended to halt trading for this ticker due to the split, they should have done so immediately to correct the error the clearing firm made prior to the market opening. I was told on the phone not to do anything regarding the error and that it would be corrected. Since I sold my shares prior to the split, it accidentally opened a short position into the company (I trade with a cash account, and do not even have access to margin calls and shorts). On Wednesday, 9/21/2022, I woke up and the short position had been corrected, however the sale was not reversed. I sent an email to client services, stating that I would never had sold my position for a $12,000 loss, and if the information provided had been accurate I would have kept my shares. I now do not have my shares, and sold for a loss and made a decision I never would have made due to the error made by the clearing firm and WeBull not halting trading on this ticker an hour after I sold my shares. This is not ok. I am not asking for anything I'm not entitled to. I would just like this wrong to be made right & companies like this own up to their errors. It affects people.

    Business Response

    Date: 08/16/2024

    HI *****,

     

    We are unable to discuss account specific details through this platform. Please reach us by phone-************ or ************************************************.

Webull Financial LLC is NOT a BBB Accredited Business.

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