Is it safe to give Webull my SSN?

Can I trust Webull with my SSN?

Can I Trust Webull With My SSN? Yes, you can trust Webull with your Social Security Number. You will be required to provide your Social Security Number to any investment brokerage that you want to trade stocks with.

Can you trust Webull?

Webull is considered safe because it is regulated by top-tier financial authorities and provides a maximum of $500,000 investor protection, including a $250,000 limit for cash under the Securities Investor Protection Corporation's (SIPC) protection scheme.

Do I need to give my SSN for stocks?

To own stock in a brokerage account, you are required under federal law (the Patriot Act) to provide your Social Security number. This information is used to verify your identity and prevent the bad guys from gaining access to the stock market. Every brokerage must adhere to this requirement.

Can non US citizens use Webull?

On their website, Webull indicates that you must have a valid Social Security Number (SSN) in order to open an account (Taxpayer Identification Numbers are not sufficient). … The only way for a non-US citizen to get an SSN, and therefore be able to open a Webull account, would be if you have a valid U.S. visa.

Is Webull safe Chinese?

As a broker-dealer, Webull collects sensitive, personal information from its clients. That includes Social Security numbers, home addresses, bank accounts, and more. While Webull claims to store user data locally, Webull is still required to adhere to the laws of China.

Does Webull sell your information?

We do not sell personal information; The option to control and delete personal information. Webull also gives everyone the option to delete cookies from visits to our products and websites. To do so, please contact our customer services at cs@webull.com.

Is my SSN safe with Robinhood?

TL;DR: Yes, it's safe to put your SSN into Robinhood, and is legally required in order for you to use the service.

Can you get rich on Webull?

Webull earns a considerable amount of its revenue through monetizing their order flow, or from receiving rebates from market makers and trading venues. By monetizing the trading activity of its investors, Webull can make money without having to charge a commission when these investors place trades.

Can I invest without a SSN?

As long as you have a Social Security number or Individual Taxpayer Identification Number, you can buy and sell stocks online – even if you're a nonpermanent resident or a noncitizen. … If you do not qualify for an SSN, you can apply for and use the ITIN to open a brokerage account with an online broker.

Is Webull a Chinese company?

Webull is owned by Fumi Technology, a Chinese holding company that has received backing from Xiaomi, Shunwei Capital, and other private equity investors in China.

Does Webull report to IRS?

The great news is that Webull follows the same IRS regulations as other financial institutions. So, if you've been investing before your start with Webull, the process will look familiar. However, this requires action on your part as Webull will not file your taxes for you.

What is SSN in Webull?

If you've recently submitted Webull's online account opening form, you may have noticed that the broker requires a Social Security Number. You should not be alarmed at this policy. It is standard procedure among US-based financial companies to require a Social Security Number during the account opening process.

Is Webull safe China?

You can definitely trust Webull as it's regulated in the US by the SEC. Also, because it's a member of SIPC, Webull's customers' securities are protected for an amount of up to $500,000 which includes $250,000 for claims for cash. … As a result, you can accept that Webull is safe and that your money is protected.

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