If you have a dispute with Webull, you must resolve it through individual arbitration rather than going to court or joining a class action lawsuit with other users.
This analysis describes what Webull's agreement states, permits, or reserves. It does not constitute a legal determination about enforceability. Regulatory applicability and practical outcomes may vary by jurisdiction, enforcement context, and individual circumstances. Read our methodology
This clause means that if Webull makes an error affecting many users, each person must pursue their own separate arbitration claim rather than collectively suing, which makes large-scale accountability significantly harder and more costly for individual investors.
The two separate provisions (Mandatory Binding Arbitration and Class Action Waiver) were consolidated into a single combined provision with identical substantive requirements.
View full change record →Users lose access to jury trials and class action participation for virtually all disputes with Webull, including those related to trading errors, account access, or platform failures, which may reduce practical leverage and increase the cost of pursuing smaller individual claims.
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THESE TERMS REQUIRE THE USE OF ARBITRATION (SECTION 12.2) ON AN INDIVIDUAL BASIS TO RESOLVE DISPUTES, RATHER THAN JURY TRIALS OR CLASS ACTIONS, AND ALSO LIMIT THE REMEDIES AVAILABLE TO YOU IN THE EVENT OF A DISPUTE.
Any dispute, claim or controversy arising out of or relating to this Agreement or the breach, termination, enforcement, interpretation or validity thereof, including the determination of the scope or applicability of this agreement to arbitrate, shall be determined by arbitration before one arbitrat...
You and Teachable agree to resolve any disputes through final and binding arbitration, except as set forth under Exceptions to Agreement to Arbitrate below. You also agree that disputes will only be resolved on an individual basis and not as a class, consolidated, or representative action.
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"YOU AND WEBULL AGREE THAT ANY DISPUTE, CLAIM OR CONTROVERSY ARISING OUT OF OR RELATING TO THESE TERMS OR THE BREACH, TERMINATION, ENFORCEMENT, INTERPRETATION OR VALIDITY THEREOF OR THE USE OF THE SERVICES (COLLECTIVELY, 'DISPUTES') WILL BE SETTLED BY BINDING ARBITRATION, EXCEPT THAT EACH PARTY RETAINS THE RIGHT TO SEEK INJUNCTIVE OR OTHER EQUITABLE RELIEF IN A COURT OF COMPETENT JURISDICTION TO PREVENT THE ACTUAL OR THREATENED INFRINGEMENT, MISAPPROPRIATION OR VIOLATION OF A PARTY'S COPYRIGHTS, TRADEMARKS, TRADE SECRETS, PATENTS, OR OTHER INTELLECTUAL PROPERTY RIGHTS. YOU ACKNOWLEDGE AND AGREE THAT YOU AND WEBULL ARE EACH WAIVING THE RIGHT TO A TRIAL BY JURY OR TO PARTICIPATE AS A PLAINTIFF OR CLASS MEMBER IN ANY PURPORTED CLASS ACTION OR REPRESENTATIVE PROCEEDING.— Excerpt from Webull's Webull Customer Agreement
REGULATORY LANDSCAPE: This provision implicates FINRA Rule 12200, which independently requires FINRA member firms to arbitrate disputes with customers if the customer requests it, and FINRA Rule 13200 for industry disputes. The provision's scope may be constrained by FINRA's own arbitration framework, which provides investor-specific procedural protections not necessarily replicated in private arbitration under the American Arbitration Association or similar bodies. The FTC has scrutinized mandatory arbitration clauses under unfair or deceptive practices authority, and the Consumer Financial Protection Bureau has issued rules on arbitration agreements in consumer financial products, though the current regulatory posture on enforcement is jurisdiction-dependent. GOVERNANCE EXPOSURE: High. The class action waiver in combination with mandatory arbitration significantly reduces collective accountability mechanisms for a platform handling retail investment accounts. If a systemic platform error, outage, or data breach were to affect many users simultaneously, each user would be required to pursue individual arbitration, which may be economically impractical for small-value claims and effectively limits class-wide relief. JURISDICTION FLAGS: California courts have historically scrutinized arbitration clauses for unconscionability, and California's consumer protection statutes (including the Consumer Legal Remedies Act) may provide grounds to challenge class action waivers in certain contexts. The Federal Arbitration Act generally preempts state-law challenges to arbitration clauses, but courts have maintained exceptions for procedurally and substantively unconscionable terms. EU and UK users, if served by Webull entities subject to those jurisdictions, may have mandatory statutory rights that cannot be waived by contract. CONTRACT AND VENDOR IMPLICATIONS: Institutional clients or advisors routing customer orders through Webull should assess whether this arbitration clause applies to their B2B relationship or only to retail customer accounts. The carve-out for intellectual property injunctions is a standard commercial practice and does not create unusual exposure. COMPLIANCE CONSIDERATIONS: Legal teams should confirm whether Webull's arbitration clause is consistent with FINRA arbitration rules and whether any overlap or conflict exists between private arbitration and FINRA's mandatory customer arbitration framework. The opt-out mechanism, if any, should be reviewed for adequacy of notice and deadline. Compliance teams should assess whether the clause's scope (covering all services) is appropriately disclosed at account opening to satisfy FINRA and SEC suitability and disclosure obligations.
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This clause means that if Webull makes an error affecting many users, each person must pursue their own separate arbitration claim rather than collectively suing, which makes large-scale accountability significantly harder and more costly for individual investors.
Users lose access to jury trials and class action participation for virtually all disputes with Webull, including those related to trading errors, account access, or platform failures, which may reduce practical leverage and increase the cost of pursuing smaller individual claims.
ConductAtlas has identified this type of provision across 26 platforms. See the full comparison.
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