Is Webull in Canada? Webull does not allow stock trading for Canadians however, you can still download the app and use other features like paper trading, market research, and more. Here are Webull's official requirements if you want to check it out.
Is Webull ever coming to Canada? Webull has not made any public statements about coming to Canada at this time. The closest alternative Canadians have is Questrade and Wealthsimple.
What Is Webull?
Webull is a brokerage that offers stock trading, ETFs, options, and cryptocurrency. People seem to like the platform because it has a great mobile app with zero commissions, no deposit minimums, and many advanced trading tools. Plus, Webull offers a very popular sign up bonus where you can get 12 free stocks. They were founded in 2017 and have at least 11 million users.
Webull Key Features
Webull Alternatives for Canadians
Canada doesn't have a platform that's exactly like Webull. However, we do have great alternatives for all types of investors whether you're looking for stocks, crypto, options, fractional shares, or something else.
1. Questrade
Questrade is the most similar platform to Webull in Canada. They have CAD and USD stocks and ETFs, plus lots of charts, data, and advanced settings. They offer free trades when you buy ETFs, but you’ll have to pay $4.95 to $9.95 for just about everything else (including a fee when you sell ETFs). Even though Questrade is not commission free, it’s relatively cheap for Canada's standards and it's one of the best platforms for U.S. stocks.
Additionally, Questrade also offers Questwealth, an easy to use roboadvisor if you don't want to worry about picking individual stocks.
Pros
Cons
2. Wealthsimple
With 2.5 million clients, Wealthsimple is pretty famous in Canada. In case you haven't heard of it, it's an all-in-one finance app with stock trading, ETFs, crypto, and robo-advisors. Plus, it has P2P payments (similar to Venmo in the US) and a free rewards card where you can earn 1% cash back paid in stocks, crypto, or cash.
Since they target beginner and millennial investors, Wealthsimple does not have the advanced trading tools that you'll find on Webull. However, it does have commission-free trading, US stocks, and a mobile-based experience. Learn more about Wealthsimple's products:
Pros
Cons
3. Newton
If you wanted Webull so you can buy and sell crypto, Newton is RankFi's best crypto exchange which is trusted by 500,000 Canadians. It offers 75+ coins (more than Webull) and has free interac e-transfers, no trading fees, and low spreads. While it doesn't offer stock trading, it's the best crypto on-ramp for Canadians that's easy to use and has low fees.
While Newton is our best overall choice, there are many features to consider when choosing a crypto exchange. You can check out our comparison tool here to find the best Canadian platforms.
Pros
Cons
4. Blossom
- Canada's First Social Investing App
Blossom is a newer app and does not offer stock trading yet, but it's on the way. It's a good Webull alternative if you're looking for a social investing app and stock community. Users can link their portfolios allowing you to see what your friends and top investors are buying and selling. You can create posts, engage with others, and get alerts when someone you follow makes a trade.
Pros
Cons
5. Interactive Brokers
Interactive Brokers is a great Webull alternative for intermediate and professional investors. They have low costs, extensive tools, and let you trade globally in 135 markets. Interactive Brokers is often regarded as one of the best platforms in the industry for professionals. You'll get technical charts, margin, options, and almost every feature you can think of. On the downside, it's difficult for beginners to use and it costs $10/mo for accounts under $100K.
Pros
Cons
The Bottom Line
So is Webull in Canada? Yes and no. You can download the app but you can't open an account to trade stocks. The best alternative Canadians have is Questrade for advanced stock trading, Wealthsimple for an all-in-one finance tool, and Newton for low-cost crypto purchases.
Tips To Choose A Broker
Choosing the right broker is important because it's something you'll be using for many years. It helps to find a platform that you can enjoy, minimizes your fees, and gives you the features you need.
1) Decide What Features Are Important To You
Every investor is different. So first, write down what features are important to you. Popular things to consider are:
Features to consider:
2) Test Your Options
After you identify what you need, compare all of your options, and go for it. Ultimately, you won't know if you like a broker until you try it. To avoid making a mistake, don't deposit everything into the first broker you try. Start small to test it out. It's okay to use multiple brokers as well. I use two for different reasons, and it's an excellent way to test them out.
FAQ
🌐 Who Is Eligible For Webull?
To open an account, Webull's website explains that you need a U.S. address and social security number.
🇨🇦 What Is The Best Webull Alternative in Canada?
Canada has many apps which are good for different features. Questrade is best for advanced stock trading, Wealthsimple for fractional shares and an all-in-one investing app, and Newton for low-cost crypto purchases.