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How To Turn Off Share Lending On Webull [Complete Guide]

You can turn off share lending on Webull to stop Webull from loaning out your stocks. Here's how to disable this feature and exit the program.
turn off share lending on webull

Traders who do not want their stocks to be lent out can turn off Share Lending in the Webull app by navigating to the Stock Lending Program section of the mobile trading app. When we talk of commission-free trading platforms, Webull certainly deserves a spot in the competition as it doesn't charge commissions on stock, ETF, or options trades and has no account minimums.

Commission-free trading platforms such as Robinhood, TD Ameritrade, Fidelity let their customers loan out shares off their account to 3rd party traders for extra income. Well, it turns out that Webull too can loan out your shares to help you generate extra income.

Traders most especially expert traders might have different plans for their stocks and because of that, they wouldn't want their shares to be lent out without prior notice. Webull by default has this feature turned on in the mobile app and traders who don't want to participate in the Share Lending Program can always quit the program whenever they want.

That said, if you want to know you can turn off Stock lending on Webull, continue reading because in this guide, I will show you a step by step process to turn off Share Lending on Webull.

CHECK ALSO: How to Transfer Stocks from Robinhood to Webull

What is the Webull Stock Lending Income Program?

The Stock Lending Income Program provides you with the opportunity to earn extra income on fully-paid stocks held in your account by allowing Webull to borrow certain stocks.

You will be paid an income that is accrued daily and credited to your account on a monthly basis while your shares are on loan. Once you've enrolled for this program, Apex, Webull's clearing firm, will mark fully-paid stocks in your account as in-demand based on market demand.

Because the interest rate is set by the market, it can fluctuate dramatically on a daily basis. This equation is used to figure out how much money you'll make from lending your stocks:

Daily Interest Earned= Number of Shares on Loan *Stock Price* Annualized Interest Rate/360*15%.;

For instance: you own 5,000 shares of ABC. The stock price of ABC is $100.00 one day, and the interest rate is 8%. If you've signed up for the Stock Lending Income Program, we'll automatically lend your shares of stock based on market demand. 5,000*100*8% /360=$111.11 is the total interest from lending these shares. You'll get around 15% of the entire interest, which is $16.67.

CHECK ALSO: How to Turn Off Stock Lending On Robinhood

Should I Turn Off Stock Lending On Webull?

Expert traders don't recommend beginners to turn this feature of the app off since it lets them gain additional income that they might use for advance trades. If you are turning this feature off, make sure you are sure of what you want to do with your stocks. However, as a professional trader, turning the Stock Lending feature off is an essential step for your activities.

How to Turn Off Stock/Share Lending Program On Webull

You must turn off the share lending if you have shares of a stock in your Webull account and do not want them loaned out to short sellers. If you hold shares that are lent out, you will receive a payout from Webull. The best part is, you don't need to make any changes to your account to disable the stock lending program.

Follow the steps below to turn off share lending on Webull.

  1. Login to Webull app.
  2. On the right side of the "Total Account Value" tap on "Detail".
  3. On the next screen, scroll down to the "Account Profile" section and select "Trading Access".
  4. Now tap "Stock Lending Income Program".
  5. You will see your status in the program and information about stocks from which you have received interest from lending out.
  6. If your account status reports "Enrolled", just tap the outlined orange button annotated with "Exit Program" to turn off stock lending on your account.
CHECK ALSO: How to Turn Off Stock Lending On TD Ameritrade

Final Thoughts On How to Turn Off Stock Lending On Webull

The Share Lending Program on Webull helps traders earn additional income on fully-paid stocks held in your account by allowing Webull to borrow certain stocks. Unless you have better alternatives for investing your stocks, you should not consider turning this feature off because you might loss potential revenue for your account.

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About the Author

Tebid Kelly is a Graphic Designer, Web Developer, Ethical Hacker, Programmer, and Content Creator who showcases his skills and experience on his blogs. He also has much love for finance apps such as Cash App, Venmo, PayPal, Zelle, etc on which he ha…

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