How to Transfer a Brokerage Account between Webull and moomoo
If you’re optimistic about investing, you might want a brokerage account at moomoo or Webull. If you already have an account with one of these companies and want to switch to the other, it is possible to transfer your assets. The process is somewhat complicated, though. Read on for details.
Overview
The main difficulty when transferring accounts between these two brokers is that moomoo only accepts and sends transfers using the DTC method, while Webull does not use the DTC system. Webull, instead, relies on the ACATS network, which moomoo does not support. Clearly, this creates a problem.
The only solution is to move cash between the two brokerage firms using a bank account as an intermediary. Connecting a bank account to either brokerage is straightforward. Although this involves an extra step and requires selling your investments, it is currently the only practical way to transfer your assets between these two brokers.
Transfer From Moomoo To Webull
Naturally, if you want to transfer your investments from moomoo to Webull, you’ll first need to
open a Webull account.
To receive a
free stocks bonus for the transfer, use this promotional offer:
Up to $7,500 bonus and 20 free stocks at Webull!
Next, you’ll need to link a checking or savings account to your moomoo account. It’s important to do this early because the connection may take a few days to complete.
To link your external bank account to your moomoo brokerage account, use moomoo’s desktop platform or mobile app. You can link the account using Plaid, which requires your bank’s login credentials. If you prefer, you can link the bank account manually by providing your routing and account numbers directly.
On the desktop platform, click the Me icon (in the vertical menu). You'll see a page with a yellow deposit button and a blue withdrawal button. Clicking either button will provide a link for ACH transfers, where you can enter your bank details.
On the mobile app, tap Trade in the bottom menu, then select Brokerage Account. You’ll again see a blue Deposit button. This is where you can connect your bank account.
Once your savings or checking account is linked, the next step is to sell your holdings at moomoo and transfer the resulting cash to your bank. After that, you can move the funds into your Webull account (the linking steps for Webull are provided below).
Moomoo limits each bank transaction to $5,000. If you need to move more money, you can request multiple transactions.
Webull Promotion
Up to $7,500 bonus and 20 free stocks at Webull!
Open Webull Account
Transfer From Webull To moomoo
Transferring cash in the opposite direction works similarly. You will first need to
open a moomoo account.
To obtain a
free stocks bonus for the transfer, use their promotional link:
Get 60 free stocks and no commissions at Moomoo.
Next, link the same bank account to your Webull account. After this, sell your investments at Webull and transfer the cash to your bank account. Once the money arrives and becomes available for withdrawal, you can move the funds into your moomoo account.
To connect a checking or savings account to Webull, log in to their website, click the account icon in the upper-right corner, then select Deposit. Like moomoo, Webull uses Plaid to link bank accounts.
To link your bank account via Webull’s mobile app, tap the Messages icon in the bottom menu, then select Promotion Center. You’ll see a vertical list of icons, including a deposit icon. Tap it to view Webull’s current deposit bonus. On this page, tap Deposit Now to link your bank account.
Moomoo Promotion
Get 60 free stocks and no commissions at Moomoo.
Open Moomoo Account
Cost of Cash Transfers
Neither broker charges fees for ACH deposits or withdrawals. Webull is currently offering free stock when you deposit any amount of cash.
Updated on 2/5/2025.
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