Robinhood and Public Offered Incentives to Webull Users
Brokerages are targeting customers following a congressional report that raised security concerns about Webull.
Updated on Oct. 8, 2026 in Investing
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Robinhood and Public.com have introduced new account transfer incentives for Webull customers following a House Select Committee report that alleged the platform has ties to the Chinese government. These promotional offers target investors looking to move their assets, brokerage accounts, or IRAs to different platforms.
Why it matters
The incentives follow a congressional investigation into Webull regarding data security risks and corporate ties to China. While Webull has disputed the report, the increased regulatory scrutiny has prompted competitors to aggressively court the firm's existing user base.
Robinhood and Public are offering a 3% incentive on transferred assets, while Public is also providing a $0.06 to $0.18 rebate per options contract. These offers contrast with a 19% single-day decline in BULL stock observed this past Wednesday.
The players
Robinhood
A financial services company known for commission-free stock and options trading through its mobile app.
Public.com
A brokerage platform that offers commission-free trading and allows users to invest in stocks, bonds, and alternative assets.
Webull
A commission-free digital brokerage platform that provides analytical tools for active traders.
The details
Customers can initiate a transfer of their brokerage accounts or IRAs to Robinhood or Public to claim the 3% asset match. In addition to the match, Public is offering per-contract rebates on options trades to further differentiate its service. These incentives were advertised by the firms on X as Webull navigated the fallout from the House Select Committee investigation.
Timeline
April 2025 was the previous low point for BULL stock.
BULL stock fell approximately 19% on Wednesday.
The transfer offers were published on October 8, 2026.
Money Landscape
The aggressive marketing of transfer bonuses reflects a period of heightened competition among retail brokerages. This shift follows a pattern set by the House Select Committee investigation, which has intensified industry-wide scrutiny regarding data security and international ties.
Investors considering a move should compare the value of the 3% asset match against any account closing fees charged by their current brokerage. Before switching platforms, discuss the potential tax implications of liquidating or transferring accounts with a qualified tax professional.
The takeaway
Increased regulatory focus can lead to short-term volatility and new opportunities for retail traders to lower their costs. If you are concerned about the security of your investment platform, review your firm's current privacy policies and account protection disclosures.
Further reading
For more on managing your brokerage accounts, read our guide on Investing.
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