Transfer Webull to Tastytrade and Vice Versa (2024)
Transfer From Webull to Tastytrade (and Vice Versa)
If you want to move your Webull account to Tastytrade, or your Tastytrade account to Webull, you’re in the right place. With this easy-to-follow guide, you can transfer your account to the other broker without much hassle.
ACAT Overview
Both Webull and Tastytrade use the ACAT network. This digital system makes transferring an investment account seamless. When making an ACAT transfer, follow these steps:
First Step: Get your old account ready for the transfer. This means closing open orders and ensuring all trades have settled. If you’re doing a partial transfer, only do this for the securities you’re moving.
Second Step: Once your old account is ready, open an account at the new brokerage. Make sure you choose the same account type (like a Roth IRA to Roth IRA) and use the same name.
Third Step: Submit an online ACAT transfer request at the receiving firm (the broker that will be receiving the securities).
Fourth Step: Monitor the transfer to ensure that all the holdings you wanted to move are transferred with the correct number of shares.
Transfer Webull to Tastytrade
Using the steps above, here’s how to move a Webull account to Tastytrade:
Step One: For a full transfer, close out any open orders and ensure all trades are settled. Tastytrade doesn’t allow trading in penny stocks, so you’ll need to close these if you have any. Although Tastytrade does offer cryptocurrency trading, cryptocurrencies can’t be moved through the ACAT network.
Step Two: Now it’s time to open your Tastytrade account. Tastytrade offers some account types that Webull doesn’t, like joint and business accounts. Be sure not to open one of these if it doesn’t match your Webull account type.
To open a new Tastytrade account, go to their site and click on the red 'Open an Account' button at the top.
Step Three: Log into your Tastytrade account and submit an ACAT transfer request. You can find the online form under My Money > Deposits. Look for the 'By ACAT' tab at the top of the page.
You’ll need to select the Tastytrade account you want to use for this transfer (in case you have multiple accounts). Specify the account number, type, and name of the incoming account.
On the Tastytrade ACAT form, you’ll need to link your old account. Webull isn’t listed among the available brokers, so you’ll need to specify Webull’s clearing agent: Apex Clearing. If this method doesn’t work, you’ll need to fill out a paper form and send it to Tastytrade by mail or fax.
Mailing Address:
1000 W. Fulton Market
Suite 220
Chicago, IL, 60607
Fax:
312-724-7364
Whether using the paper or digital form, attach your most recent Webull account statement. Tastytrade requests the entire statement, not just the first page.
Step Four: Keep an eye on both accounts. The process should take less than two weeks.
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Transfer Tastytrade to Webull
To go the other way, follow these steps:
Step One: Futures and cryptocurrencies cannot be transferred. If you have these in the Tastytrade account you want to transfer, you’ll need to sell them if you’re doing a full transfer. For a partial transfer, just ensure you don’t list futures or crypto positions among the assets to be moved.
Step Two: It’s time to open your new Webull account.
Step Three: Request an ACAT transfer using Webull’s software. The electronic form can be found on the website (click the person icon, select 'My Account,' then 'Transfer Stocks') or on the mobile app (tap the Webull logo at the bottom, then 'Transfer').
This time, the outgoing broker (Tastytrade) is listed. Select Tastytrade, and you’ll get the necessary digital form. Webull requires a $500 minimum account value for an incoming transfer.
Step Four: Sit back and relax. Webull will handle the rest.
Webull Promotion
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Transfer Fees
Both brokers charge a $75 fee for an outgoing ACAT transfer. Neither firm charges for an incoming transfer.
Webull advertises ACAT fee refund. Log into the mobile app, tap the Menu icon, find the Promotion Center, and tap on the 'New Transfer Promotion' tile.
Tastytrade doesn’t advertise ACAT fee refunds.
Updated on 9/19/2024.
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