Robinhood Markets (NASDAQ:HOOD) appears poised to capitalize as Webull Corporation‘s (NASDAQ:BULL) stock struggles after a congressional report called it a security risk because of its business ties to China.
"Robinhood is proudly American, founded here to give everyday investors more access to the financial system. If you’re still on Webull, bring your portfolio home and get 3% on your transfer today," Robinhood tweeted.
The transfers covered are those made from Webull before Oct. 16, 2026. Robinhood regularly offers promotions for customers who transfer their accounts, but the 3% may be among the highest matches offered.
Robinhood’s direct targeting of Webull and its "proudly American" wording may be among its most aggressive in recent years.
"American assets should be at America’s favorite broker. We’re offering 3% on transfers from Webull today," Robinhood CEO Vlad Tenev tweeted.
Robinhood and Tenev are taking to social media to take on Webull after the House Select Committee on China found that the rival’s ownership and infrastructure were tied to the People’s Republic of China. The investigation raises concerns that U.S. customer data and deposits could be at risk.
Can Robinhood Win?
Robinhood is one of the leading U.S. brokerages, and it regularly competes with Webull among retail investors, day traders, and swing traders based on the platform’s ease of use and available tools.
Fears of China connections at Webull could push customers to look for a new platform.
Robinhood has been gaining customers away from legacy stock brokers and taking share from Webull could be another major win for the company.
Robinhood ended August with 28.6 million funded accounts, up about 120,000 from July. The company also reported $384 billion in platform assets in August, up 8% from July and up 26% year-over-year.
August saw strong equity trading for Robinhood, while options contracts were down from July but up 50% year-over-year.
Robinhood reported those figures on Sept. 10.
Any substantial gains from Webull could be communicated by Robinhood when it reports its September figures or its third-quarter financials, which are set for Oct. 27. While gains from Webull will not be factored into those numbers, Robinhood could choose to share them to excite investors.
Otherwise, investors will have to wait until Robinhood’s fourth-quarter financial results to see if the Webull report led to gains for the rival.
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