How To Transfer From Webull To SoFi

Looking to switch your brokerage account to SoFi?

Regardless of why you might be looking to switch, it's easy to get confused about how to move your portfolio from one place to another.

Today, we're going to show you how to transfer your stocks from Webull to SoFi, step by step.

Important note: The process described below is current as of November 2025. While the core ACAT transfer process remains consistent, brokerage interfaces may change slightly over time.

Check out my video on how to transfer your brokerage account below, let's dive in!

Before You Start: Critical Pre-Transfer Checklist

Before initiating your transfer, complete these essential steps to avoid delays or rejections:

• Verify account name matching - Both accounts must have identical names (even middle initials matter)
• Confirm account type matching - Roth IRA must transfer to Roth IRA, taxable to taxable, etc.
• Obtain recent statements from both Webull and SoFi for reference
• Disable automatic features like dividend reinvestment in Webull
• Check for unsettled trades - All trades must settle before transfer (T+2 settlement)
• Review asset eligibility - Not all holdings can transfer (see next section)

What Can and Cannot Be Transferred

SoFi has specific limitations on what assets they will accept through ACAT transfers:

• Accepted assets: Stocks, ETFs, Mutual Funds, Alternative Investments
• Not accepted: Options, OTC Stocks, Pink Sheet Stocks, Bonds
• Special note on fractional shares: These cannot be transferred in-kind and will be automatically sold by Webull, with proceeds included in your transfer

If your account contains ineligible assets, you'll need to either sell them before transferring or complete a partial transfer of only eligible holdings.

1. Sign Up For SoFi

SoFi accounts are pretty quick to set up, and aren't too different from any other mobile banking sign up experience.

You'll have to give them your information, including your social security number, and then verify your information.

2. Locate Your Webull Account Info

You will need to safely copy the following details:

• Type of Brokerage Account (Personal/Individual/Taxable, Roth IRA, traditional IRA, etc)
• Your Webull Account Number
• Clearing Firm Information: Apex Clearing Corp, Broker Clearing number: 0158

With ACAT transfers, if the names and account types in each brokerage don't match exactly, your transfer could be delayed or even cancelled, which nobody wants.

Here's how to find everything inside Webull:

1. Click on your profile icon in the top right corner.
2. Click "Assets" then "Account Details"
3. Scroll down to see your account number and account type.

Important note about account numbers: Webull uses Apex Clearing for its accounts. When providing your account number to SoFi, use the exact format shown in your Webull account details. Some Webull accounts may require a "WEB" prefix for Omnibus accounts, while Apex accounts typically do not.

3. Initiate Your Transfer Into SoFi

Now that your Webull account info is on hand, and your SoFi invest account is all set up, and both account types match, we can initiate your ACAT transfer.

How to Initiate Your ACAT Transfer (must be done through SoFi):

1. Log into SoFi and select "Invest."
2. Choose "Transfer Investments" in the app, or find the "Transfer Assets" option on the dashboard.
3. Search for Webull among the brokerages, and select it.
4. Enter your Webull account number exactly as it appears in your Webull account details.
5. Enter the clearing information: Clearing Firm - Apex Clearing Corp, Clearing Number - 0158
6. Confirm whether you're transferring your entire account (full transfer) or a portion of your account (partial transfer).
7. If completing a partial transfer, select the specific investments that you wish to transfer.
8. Review and submit the transfer request.

Important clarification: Unlike some other processes, ACAT transfers must be initiated from the receiving broker (SoFi in this case), not from your current broker (Webull). This is a common point of confusion that can delay your transfer if not done correctly.

What to Expect During the Transfer Process

Understanding the timeline and restrictions during your transfer will help manage expectations:

• Transfer timeline: ACAT transfers typically take 6-10 business days to complete (1-2 weeks total including weekends)
• Cost basis information: Takes an additional 10-15 business days after the account transfer completes
• Trading restrictions: Your Webull account will have limited functionality during transfer (no new purchases, limited sales)
• Dividends: Any dividends declared during the transfer process will be processed by Webull and included in your transfer
• SEC T+1 settlement: As of May 2024, the SEC implemented T+1 settlement, meaning trades settle one business day after execution (previously T+2)

During the transfer, you'll see a "Pending Transfer" status in both your Webull and SoFi accounts. Do not attempt to initiate multiple transfer requests as this will cause processing delays.

Transfer Fee and Reimbursement

Transferring out of Webull will cost you $75. However, if your transfer amount is at least $5,000, SoFi will reimburse you up to $75 for the outgoing transfer fee.

To request reimbursement:

1. Wait until your transfer is fully completed (all assets and cash have transferred)
2. Open the SoFi app and navigate to "Support"
3. Request reimbursement for "Brokerage Transfer Fee" with documentation of the transfer
4. SoFi typically processes reimbursements within 5-7 business days

Simply reach out to the support team within the app to request a reimbursement. You can also call SoFi Investment Specialists at 855-525-7634 for assistance.

After Your Transfer Completes

Once your transfer is complete, verify these critical items:

1. Confirm all assets transferred: Check that all eligible securities and cash balances appear in your SoFi account
2. Verify cost basis information: This may take 10-15 additional business days to populate accurately
3. Check account features: Ensure margin access, options levels, and other features transferred properly
4. Save final statements: Download and save your final Webull statements for tax records
5. Close Webull account: If desired, contact Webull support to formally close your account after confirming all assets transferred

Troubleshooting Common Transfer Issues

If your transfer encounters problems, these are the most common reasons:

• Account name mismatch: Even small differences (like "John" vs. "John A.") will cause rejection
• Ineligible assets: Options, bonds, or OTC stocks in your account
• Account type mismatch: Trying to transfer a Roth IRA to a taxable account
• Multiple transfer requests: Having more than one active transfer request
• Unsettled trades: Recent purchases that haven't settled (T+1 settlement rule)
• Account restrictions: Holds or restrictions on either account

If your transfer is rejected, contact SoFi support at 855-525-7634 or Webull support at [email protected] to determine the specific reason and resubmit with corrected information.

Frequently Asked Questions

Q: Can I trade during my transfer?
A: Limited trading is allowed in your Webull account during transfer, but new purchases may be restricted. Your SoFi account will be restricted until the transfer completes.

Q: What happens to dividends during the transfer?
A: Dividends declared while your transfer is processing will be paid by Webull and included in your transfer amount.

Q: Will I lose my cost basis information?
A: No, but it takes 10-15 business days after the account transfer completes to appear in SoFi. Keep your Webull statements for tax purposes until this information transfers.

Q: What if only part of my transfer completes?
A: This typically happens when ineligible assets are present. You'll need to either sell those assets first or complete a partial transfer of only eligible holdings.

Q: Why is my transfer taking longer than expected?
A: Transfers can be delayed by holidays, weekends, account mismatches, or ineligible assets. If it's been more than 15 business days, contact SoFi support for assistance.