# Robinhood, SoFi, and Public Offer 3% Matches to Win Over Webull Clients Following Scrutiny

- URL: https://stocks.freetheai.org/news/robinhood-sofi-and-public-offer-3-matches-to-win-over-webull-clients-following-f23e02
- Published: 2026-10-12T19:42:41Z
- Category: company_news; sentiment: bearish; impact: high
- Symbols: [NASDAQ:BULL](https://stocks.freetheai.org/symbols/NASDAQ-BULL), [NASDAQ:HOOD](https://stocks.freetheai.org/symbols/NASDAQ-HOOD), [NASDAQ:SOFI](https://stocks.freetheai.org/symbols/NASDAQ-SOFI)
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Competitive brokerages including Robinhood Markets, Inc. (NASDAQ:HOOD), SoFi Technologies Inc (NASDAQ:SOFI), and Public are attempting to lure assets from Webull Corporation (NASDAQ:BULL). The three platforms introduced promotional offers giving Webull customers a 3% match on eligible account transfers initiated through the Automated Customer Account Transfer Service. The incentives follow a report from a bipartisan House committee that labeled Webull's operational connections to China a national security risk.

The House report raised concerns over Webull's technology workforce in China, founder voting control, and potential exposure of customer data. Webull's shares fell nearly 30% intraday after the report, though the brokerage filed a statement with the SEC denying the allegations and maintaining that U.S. customer assets and data remain secure. Seeking to capitalize on the scrutiny, rival brokerages introduced enhanced bonus matches, with Robinhood setting a 3% rate for Webull transfers through October 16, SoFi offering a 3% match through October 15, and Public capping its 3% reward at $30,000.

Market observers will watch whether these cash incentives drive sustained asset outflows from Webull into rival brokerages. Key factors to track include any further regulatory findings, customer response to the transfer promotions, and Webull's ongoing efforts to reassure investors regarding its security protocols.

## Key points

- Robinhood, SoFi, and Public launched 3% match promotions specifically targeting customer account transfers from Webull.
- The promotional surge follows a bipartisan House committee report raising national security concerns over Webull's ties to China.
- Webull shares fell nearly 30% intraday following the report, though the company denied the claims in an SEC filing.
- The transfer offers require assets to remain at the respective brokerages for up to five or six years to retain full bonuses.

## Questions and answers

### Why are Robinhood, SoFi, and Public offering bonuses for Webull transfers?

The brokerages launched 3% transfer matches to attract clients from Webull after a U.S. House committee report cited national security concerns regarding Webull's connections to China.

### How did Webull respond to the congressional report on its China ties?

Webull stated in an SEC filing that the report contains key factual errors. The company asserted that U.S. customer assets and data are stored in the U.S. and that personnel in China cannot access sensitive information.

### What are the terms for Robinhood's Webull account transfer bonus?

Robinhood offers a 3% match on eligible Webull transfers initiated between October 7 and October 16. Transferred assets generally must stay with Robinhood for five years to avoid potential chargebacks.