Is Webull available in Canada?
Yes. Webull Corporation, a well-liked Cayman Islands-owned and operated digital brokerage, opened for business in Canada in January 2024. Prospective customers are asked to affix a waiting list to establish an account with webull.ca. Like another financial institutions, Webull uses a waiting list to manage the pace of latest customer acquisition and avoid disruption. Typically, you’ll give you the option to access the app and website together with your account after two business days.
Can you utilize Webull in Canada?
The big difference between Webull Canada and the Webull version within the US, where it has operated since 2018, is the commission structure. Basic trades within the US are free, but Webull Canada charges $2.99 per trade for stocks listed in Canada and $2.99 for stocks listed on American exchanges after a 90-day commission-free period for brand new customers.
Why is that? “Canada as a whole is more expensive (in the broker-dealer world) than the U.S. in terms of costs and fees for doing business,” explains Michael Constantino, CEO of Webull Securities (Canada) Limited. He also noted that Webull charges commissions in most countries where it operates. Still, the commissions were a disappointment to many Canadian investors commenting on Reddit.
Webull desktop vs. Webull app
Webull has a mobile app you can download through the Apple App Store and Google Play, and the sign-up process is straightforward. One gets the impression that it is usually designed for wireless. You also can access your account via desktop, which has larger, more readable graphics, but pages may take a while to load. Weak WiFi? You could have problems.
Webull guarantees 24/7 support via email and phone.
Webull trading
Webull Canada supports stock trading and, starting in September 2024, options trading. (Cryptocurrency trading is on the market via a separate app (called Webull Pay.) There are not any fees for deposits and withdrawals out of your Webull Canada account. However, the corporate’s clearinghouse charges a fee for transfers. Margin accounts charge rates of interest of just below 10%.
In addition to securities trading, Webull provides users with real-time prices and market data, greater than 20 chart widgets and 60 indicators, in addition to paper trading for practice.
Know that Webull is a member of the Canadian Investor Protection FundThis signifies that all money and assets in your account are insured within the event of the corporate going bankrupt.
