Is Webull accessible in Canada?
Sure. Webull Company, a preferred Cayman Islands-owned and -operated digital brokerage, opened for enterprise in Canada in January 2024. Potential purchasers are invited to hitch a waitlist to arrange an account at webull.ca. Like another monetary establishments, 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 may entry the app and web site together 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 its fee construction. Fundamental trades within the U.S. are free, however Webull Canada prices $2.99 per commerce for Canadian-listed shares and USD$2.99 for shares listed on American exchanges following a 90-day commission-free interval for brand spanking new purchasers.
Why is that? “Canada, as a complete, is… dearer (within the dealer/seller world) by way of prices and charges to do enterprise than the U.S.,” explains Michael Constantino, CEO of Webull Securities (Canada) Restricted. He additionally famous that Webull prices commissions in a lot of the international locations the place it operates. Nonetheless, the commissions have been a disappointment to a number of Canadian buyers commenting on Reddit.
Webull desktop vs. Webull app
Webull has a cellphone app you may obtain by way of Apple’s App Retailer and Google Play, and the login course of is straightforward. You get the sense it’s geared for wi-fi usually. It’s also possible to entry your account by desktop, which boasts greater, extra readable graphics, however the pages can take a little bit of time to load. Weak wifi? You’ll have points.
Webull guarantees 24/7 help by e-mail and cellphone.
Webull buying and selling
Webull Canada helps inventory and, as of September 2024, choices buying and selling. (Cryptocurrency buying and selling is on the market by way of a separate app referred to as Webull Pay.) There are not any prices for deposits and withdrawals out of your Webull Canada account. The corporate’s clearing agency prices a payment for wire transfers, nevertheless. On margin accounts, it prices rates of interest a tad beneath 10%.
Along with securities buying and selling, Webull presents customers real-time quotes and market knowledge, greater than 20 charting widgets and 60 indicators and paper buying and selling for observe.
Know that Webull is a member of the Canadian Investor Safety Fund, that means any money or belongings sitting in your account are insured in case the agency turns into bancrupt.