How to Redeem Webull Referral Credit???

seraphim2017 on 31/08/2023 - 06:49
Last edited 31/08/2023 - 06:50

I have 4 referral rewards that are $20us credit each but don't know how to use them. Everything I've I've tried to buy $20 of a stock has failed.

I've waited until US market open, but still get the message "insufficient buying power" when trying to make a stock purchase so it never goes to a screen where I can redeem these referral credits? Tried buying more, less than $20 but no luck.

There doesn't seem a way to create an order and then redeem these credits, or activate the credits and then make an order?

Any ideas?
What an I doing wrong??!

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Comments

  • djkelly69 on 31/08/2023 - 09:19
    +2

    Was discussed here last week.

    It is basically cashback rather than a credit. You need funds in your account, buy a stock for at least the amount of the voucher, and then a few days later the amount of the voucher gets credited to your account as cash.

    • seraphim2017 on 31/08/2023 - 17:09

      Thanks! I've funded the account and converted in to us$

      So can i make one $80 trade and redeem 4 X $20 against it, or do I have to make 4 X $20 trades and redeem one against each? Webull didn't make that clear!

      • djkelly69 on 31/08/2023 - 17:32
        +1

        4 x US$20 trades. And they must be more than $20 each - the credit won't apply if it is under $20.

        • seraphim2017 on 31/08/2023 - 23:47

          Tried it with ETFS and with stocks. Bought $21 us each time. Nope, not working. Just says you have no orders available for selection. Any ideas?

          • djkelly69 on 01/09/2023 - 10:20

            @seraphim2017: Not really sure, would have to check the promo conditions.

            Main ones seem to be that you have to buy US stocks or options within 30 days after accepting the voucher. Is that what you did?

            • seraphim2017 on 01/09/2023 - 10:47

              @djkelly69: The webull chat people didn't know why it didn't work either as they could see the eligible purchases so they raised me a ticket. We will see what happens as they've now expired.

              I accepted the vouchers only a few days ago so well within 30 days of acceptance.

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