Is Webull obtainable in Canada?
Sure. Webull Company, a preferred Cayman Islands-owned and -operated digital brokerage, opened for enterprise in Canada in January 2024. Potential shoppers are invited to affix a waitlist to arrange an account at webull.ca. Like another suppliers, Webull makes use of a waitlist to handle the tempo of recent shopper onboarding and keep away from glitches. Typically after two enterprise days, you possibly can entry the app and web site along with your account.
Can you utilize Webull in Canada?
The massive distinction between Webull Canada and the Webull model within the U.S., the place it’s been working since 2018, is the fee construction. Whereas primary trades within the U.S. are free, Webull Canada will cost $2.99 per commerce for Canadian-listed stocks and USD$2.99 for shares listed on American exchanges following a 90-day commission-free interval for brand new shoppers.
“Canada, as an entire, is… costlier (within the dealer/vendor world) when it comes to prices and costs to do enterprise than the U.S.,” explains Michael Constantino, CEO of Webull Securities (Canada) Restricted. He additionally famous that Webull prices commissions in many of the international locations the place it operates. Nonetheless, the commissions had been a disappointment to plenty of Canadian traders commenting on Reddit.
Webull desktop vs. Webull app
Webull has a telephone app you possibly can obtain by way of Apple’s App Retailer and Google Play, and the login course of is simple. You get the sense it’s geared for wi-fi typically. You can too entry your account by desktop, which boasts greater, extra readable graphics, however the pages can take a little bit of time to load.
Webull guarantees 24/7 help by e-mail and telephone.
Webull buying and selling
Webull Canada solely helps inventory buying and selling for now, not the award-winning choices buying and selling platform obtainable stateside. (Additionally, cryptocurrency trading is on the market by way of a separate app referred to as Webull Pay.) On the constructive facet, there aren’t any prices for deposits and withdrawals out of your Webull Canada account. The corporate’s clearing agency prices a charge for wire transfers, nonetheless. On margin accounts, it prices rates of interest a tad beneath 10%.
Along with fairness buying and selling, Webull gives customers real-time quotes and market knowledge, greater than 20 charting widgets and 60 indicators and paper buying and selling for apply.
Webull is a member of the Canadian Investor Protection Fund, which means any money or property sitting in your account are insured in case the agency turns into bancrupt.