How Old Do You Have to Be to Use Webull?

Webull is a popular online trading platform that provides individuals with opportunities to invest in various financial instruments, including stocks, options, and exchange-traded funds (ETFs). It has gained considerable traction due to its commission-free trading model and advanced analytical tools. The platform aims to make investing accessible to a broad audience, offering a user-friendly interface.

Minimum Age for a Webull Account

To open a Webull account, individuals must be at least 18 years old. This age requirement aligns with legal principles, as individuals gain the capacity to enter into binding contracts, such as brokerage agreements, upon reaching the age of majority.

Individuals under the age of 18 cannot open or maintain a Webull account in their own name. Webull also does not offer custodial accounts, which are investment accounts managed by an adult for the benefit of a minor. Age verification is an integral part of the application process to ensure compliance with these regulations.

Additional Requirements for Opening an Account

Beyond the age requirement, several other criteria must be met to open a Webull account. Applicants need to be a U.S. citizen, a permanent resident, or a valid visa holder with a permanent U.S. address. This residency requirement is in place for regulatory compliance and identity verification purposes.

A valid Social Security Number (SSN) or Individual Taxpayer Identification Number (ITIN) is also required. These identification numbers are crucial for tax reporting to the Internal Revenue Service (IRS) on any investment gains or income generated within the account. Brokerage firms, including Webull, are mandated to collect this information to comply with federal regulations like the Customer Identification Program (CIP) and Anti-Money Laundering (AML) laws. Applicants must also possess legal capacity, meaning they are not under any legal disability that would prevent them from managing a financial account.

A valid mailing address, email address, and phone number are necessary for communication and record-keeping. These details facilitate the verification process and ensure that Webull can communicate important account information and regulatory disclosures to the account holder.

Opening Your Webull Account

The process of opening a Webull account begins with downloading the Webull application or visiting their official website. After initiating the application, users will be prompted to enter personal details, like their name, date of birth, and Social Security Number or ITIN. This initial step establishes the applicant’s identity.

Identity verification is a subsequent step, often involving the submission of a government-issued identification document, such as a driver’s license or passport. Some applications may also require facial recognition or a photo of the SSN card for enhanced security. Once personal details and identity documents are submitted, applicants will typically link a bank account for funding purposes. The application then undergoes a review process by Webull, which usually takes one to three business days, after which an approval notification is sent.