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Is Webull obtainable in Canada?
Sure. Webull Company, a well-liked Cayman Islands-owned and -operated digital brokerage, opened for enterprise in Canada in January 2024. Potential shoppers are invited to hitch a waitlist to arrange an account at webull.ca. Like another suppliers, Webull makes use of a waitlist to handle the tempo of latest consumer onboarding and keep away from glitches. Typically after two enterprise days, you’ll be able to entry the app and web site along with your account.
Can you employ 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 fundamental trades within the U.S. are free, Webull Canada will cost $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 new shoppers.
“Canada, as a complete, is… dearer (within the dealer/seller world) when it comes to 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 many of the nations the place it operates. Nonetheless, the commissions have been a disappointment to numerous Canadian traders commenting on Reddit.
Webull desktop vs. Webull app
Webull has a cellphone app you’ll be able to 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 typically. You can even 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 cellphone.
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 buying and selling is out there via a separate app known as Webull Pay.) On the constructive aspect, 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, nevertheless. On margin accounts, it prices rates of interest a tad under 10%.
Along with fairness buying and selling, Webull gives customers real-time quotes and market information, greater than 20 charting widgets and 60 indicators and paper buying and selling for apply.
Webull is a member of the Canadian Investor Safety Fund, that means any money or property sitting in your account are insured in case the agency turns into bancrupt.
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