Robinhood, SoFi and Public are utilizing the scrutiny surrounding Webull to compete for its buyer property. All three launched Webull-specific switch incentives after a bipartisan Home committee labelled the brokerage’s China ties a nationwide safety threat.
The platforms are providing a 3% match on eligible transfers from Webull via the Automated Buyer Account Switch Service (ACATS). The system permits buyers to maneuver eligible securities and money between US brokerages with out promoting most transferable holdings.
Robinhood Converts an Present Promotion right into a Webull Supply
Robinhood already had a broader account-transfer marketing campaign providing eligible prospects personalised match charges of between 1% and three%.
It amended the revealed phrases to offer transfers originating from Webull a set 3% price from 7 October, whatever the buyer’s personalised supply. The Webull supply runs till 16 October.
The bonus has no acknowledged most and is credited as soon as the transferred property attain the client’s Robinhood account. Nonetheless, transferred worth should usually stay at Robinhood for 5 years to keep away from a possible proportional chargeback.
Robinhood’s promoting went past the same old language of switch promotions. “American property must be at America’s favourite dealer,” CEO Vlad Tenev wrote on X.
The corporate individually advised Webull customers to “convey your portfolio house,” explicitly connecting the inducement to Robinhood’s US id.
Robinhood is proudly American, based right here to offer on a regular basis buyers extra entry to the monetary system.
In case you’re nonetheless on Webull, convey your portfolio house and get 3% in your switch right this moment: https://t.co/QuCN3myHTj
— Robinhood (@RobinhoodApp) October 7, 2026
Public and SoFi Be a part of the Switch Push
Public created a separate programme for taxable brokerage accounts and IRAs transferred from Webull. The three% reward applies to transfers initiated by 26 October and is paid in month-to-month instalments over six years.
The corporate caps eligible transferred property at $1 million, producing a most match of $30,000.
SoFi is providing the identical proportion on Webull transfers into eligible self-directed taxable accounts and IRAs. Its promotion runs from 8 to fifteen October and replaces the usual 1% ACATS match accessible beneath a separate marketing campaign.
Robinhood is proudly American, based right here to offer on a regular basis buyers extra entry to the monetary system.
In case you’re nonetheless on Webull, convey your portfolio house and get 3% in your switch right this moment: https://t.co/QuCN3myHTj
— Robinhood (@RobinhoodApp) October 7, 2026
SoFi caps the reward at $150,000, equal to three% of a $5 million switch, and requires the property to stay for 5 years to retain the complete bonus.
The gives differ in period, fee schedule and most worth, however all three brokers chosen the identical competitor instantly after the congressional report.
Scrutiny Creates a Business Opening
The Home committee mentioned Webull remained extra carefully related to China than its public positioning urged. It pointed to the founder’s voting management, the corporate’s giant China-based expertise workforce and the chance that US buyer information might be uncovered to personnel or legal guidelines within the nation.
Webull’s shares fell by nearly 30% intraday after the report grew to become public.
In an announcement filed with the SEC, Webull mentioned the report contained necessary factual errors. It maintained that US buyer information and property stay in the USA, that China-based workers can’t entry delicate buyer data and that the committee recognized no misuse of information.
The switch campaigns present an early check of whether or not political scrutiny can transfer greater than a dealer’s share worth. As a result of ACATS makes brokerage portfolios transportable, Robinhood, SoFi and Public are giving Webull prospects a direct monetary incentive to show reputational considerations into precise asset outflows.
This text was written by Tanya Chepkova at www.financemagnates.com.
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