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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.
  • 114 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:09/01/2022

    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 had my money transferred over to Webull from Fidelity. Its been almost 2 weeks and everyday they give me some excuse as to why i cant access my money. One representative laughed at me when i was trying to get help. Their playing games with me and my money.

    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:08/26/2022

    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.
    It's been 6 days since my bank cleared the money..... they still won't give it to me

    Customer Answer

    Date: 09/19/2022

    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,

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

  • Initial Complaint

    Date:08/23/2022

    Type:Service or Repair 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.
    This company has been treating me poorly. Ive been ignored for days after days . Ive watch another person contact support and get help immediately but me on the other hand I have been ignored 7 hours . The company promised me a bonus for successfully referring numerous clients and they claim I received it but I never did , I have got any spins for stocks and I referred 81 people with 21 successful. They are not giving me no spins , I was only rewarded one aapl share but it says that I claimed another one of ****** which is not true . Also they are slow to clear my stocks out of transit I had to wait 4 days for others only took a day , and my stocks are not being released in my cash balanced . Their customer service is very poorly .

    Customer Answer

    Date: 08/23/2022

    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:08/09/2022

    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 suspended & are terminating my brokerage account #******** in a few days after lying in recorded chat and phone calls about it being due to APEX Clearing House having "instructed us we cannot continue to support your account. We must comply with their instructions". However, when I called APEX at ************** and spoke to ************************* she verified there is no issue with my account. They also claimed it's due to "failed authentication" of my bank account when I switched it to link with joint account with my wife, but have since verified my bank account ownership electronically successfully (see screenshots) and manually via bank statements (see PDF) provided and even confirmed it was verified (see screenshots), are allowing withdraw to it, and said account was re-activated. But they never re-activated. In reality, they are just covering up for the fact that when I tried to verify it 3x I got "Unexpected Site Error" (see screenshot) due to their own system issues, as I have screenshots proving, and that when I provided bank statements as requested a half dozen times, they misplaced or never recorded that I provided this, with Webull supervisor ***** who I called at ************** on 8/4/2022 even confirming they still failed to record that I provided the requested bank statements to them. I even provided photos of the signature docs for the bank account, had BoA generate a Statement of Account in person with photos of us speaking with bank ************* card of bank manager who offered to personally verify my bank account too. All ignored by Webull. APEX even recommended I file a complaint once they learned of Webull lying about being "forced by them" to close my account, and stated Webull should contact their Compliance team if they in fact had any concerns about my account, which Webull then refused to do. Webull now just claims it was "too late when a decision is already made" regardless of successfully confirming my bank account ownership yet again.

    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:07/25/2022

    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.
    I sent a invite link to ******************************* that said Webull would give us both 6 free shares each and he signed up last week and I didn't get any free shares. His email is **************************

    Business Response

    Date: 08/16/2024

    HI *******,

     

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

    Customer Answer

    Date: 08/19/2024

    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: I haven't used Webull in over a year and don't even know what this is about.

    [Your Answer Here]

     

     

     

     

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


    Sincerely,

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




     

    Business Response

    Date: 08/21/2024

    Thanks for your response.  We will consider this matter closed. 

  • Initial Complaint

    Date:07/25/2022

    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.
    My money has been settle for months, so on July 19,2022 I sold all my stocks, so I can buy shares in crypto immediately , but now they tell me that I have to wait 2 additional days before I can be able to access my funds because allegedly the fund are not settle, that's incorrect cause once you sell your money its available, their action now stop me from buying the shares at low price, webull need to be investigated by the sector commissioner this this people are stealing money from investors and nobody its taking action.

    Customer Answer

    Date: 07/25/2022

    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,

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

    The matter has been resolve. please withdraw complaint.  thank you.

     

  • Initial Complaint

    Date:07/11/2022

    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.
    I opened an account at Webull with 50K, a platform for trading cryptocurrency. From the blue, I was targeted by the company's risk management because of "possible money laundering." I am a doctor, and I provided Webull with my W-2 documents (2021-2020 from Revere health, my employer), bank statements, and loan information, supporting my funding sources. I did some transitions, and luckily, I made a ***************************************************************** When I was trying the withdraw my money, my account was frozen. The company began to delay the withdrawal arguing in a very baseless the "possible money laundering" and started asking for a "margin" deposit and then for "fees for investigating" my case about 3 to 4 times. They are still asking for more funds and giving me less time to deposit. Every time the money was deposited, it was credited to my account. However, I cannot withdraw the funding reaching a total of 200K plus frozen money by Webull, and the extra deposited money goes even over the amount I profit. I asked the company if they had proof of the "money laundering" they needed to press charges, but I only received dilatory excuses has been given to me. I am still waiting to be able to collect some money to be able to pay another extra investigation fee for 50K. I believe Webull has damaged my reputation and finances because of its abusive business practices and the fact that it retains my money with an untrue claim. I felt these actions were unprofessional, discriminatory, and retaliatory for the asking to respect my rights. It is like being blackmailed or having extortion, asking for more money to do something for me (the client). If this situation is not resolved soon, my lawyers and I will contact the *** ********** **** to act against Webull and to take Webull to court if necessary. I am not defaming the company, but once we file this case in court, the situation will be public if we reach that instance. I appreciate any help please BBB

    Customer Answer

    Date: 08/04/2022

    At this time, I have been contacted directly by Webull Financial LLC regarding complaint ID ********, however my complaint has NOT been resolved because:

    [I opened an account at Webull, a platform for trading cryptocurrency. From the blue, I was targeted by the company's risk management because of "possible money laundering." I am a doctor, and I provided Webull with my W-2 documents (2021-2020 from my employer), bank statements, and loans information, supporting my funding sources. I did some transitions in their palatiform and made a ***************************************************************** When I was trying the withdraw my money, my account was frozen. The company began to delay the withdrawal arguing in a very baseless the "possible money laundering"never a proof has been produced by the company, and FCC was not informed. Webull asking for a "margin" deposit and then for "fees for investigating" my case about 3 to 4 times, then retention fee and finally a 15% of the withdraw. They are still asking for more funds and giving me less time to deposit. Every time the money was deposited, it was credited to my account,but the last transaction has not been credited. After more than 2 months dealing with this company cannot withdraw the funding reaching a total of 250K plus frozen money by Weibull, and the extra deposited money (fees and more fees)goes even over the amount I profited. I asked the company if they had proof of the "money laundering" they needed to press charges, but I only received dilatory excuses has been given to me. I am still waiting to be able to collect some money to be able to pay another extra investigation fee for 50K. I believe Webull has damaged my reputation and finances because of its abusive business practices and the fact that it retains my money with an untrue claim. I felt these actions were unprofessional, discriminatory, and retaliatory for the asking to respect my rights. It is like being blackmailed or discriminatory targeting when they still asking for more money to do something for me (the client). If this situation is not resolved soon, my lawyers and I will contact the *** ********** ****, FCC to act against Webull and to take Webull to court if necessary. I am not defaming the company, but once we file this case in court, the situation will be public if we reach that instance. I appreciate any help please BBBYour]

     

     

     

     

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

    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 ************************************************.

  • Initial Complaint

    Date:06/24/2022

    Type:Customer Service 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.
    On 6/22/22 I made a deposit to the instruction based on a promotion that I would get 13 shares of stock if I did so. I clicked on the promotion link and did get a confirmation. Now the company is indicating they have not evidence of this and are not providing me with my 13 shares. I am concerned they are scamming customers.

    Customer Answer

    Date: 07/19/2022

    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,

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

Webull Financial LLC is NOT a BBB Accredited Business.

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