Webull Canada Review

Webull Canada Review
  • Trading Fees
  • Account Options
  • Customer Support
  • Platform and App

Webull Canada Review Summary:

Webull is an U.S based company with 11 million clients worldwide. In January 2024, Webull has announced it’s now open for business in Canada as well.

Webull offers competitive trading fees of $2.99 per trade on both Canadian and U.S stocks. That said, it’s still missing key features and only has limited account options on offer with no RRSPs, TFSAs, RESPs, or FHSAs available

In this Webull Canada review, i’ll compare this new service to existing options in the Canadian market. In short, I don’t think any serious Canadian investors will be considering Webull. They’re not the cheapest brokerage in Canada, and their severe lack of accounts and options simply leaves them uncompetitive.


  • Per-trade fees are lower than Canada’s Big Bank brokerages
  • Has some ok options for US stock market trading


  • Lacks any sort of Canadian-specific account types such as RRSPs, TFSAs, RESPs, and FHSAs
  • Limited research and investor education content compared to other platforms
  • Uncertainty around the issuance of Canada Revenue Agency-compliant tax documents, potentially complicating tax filings for Canadian residents
  • Different fees for Canadian and American clients
  • Just a complete lack of true options to compete with more well-rounded Canadian brokerages

While Webull’s entry into Canada is promising, it lacks a tailored Canadian platform, offers limited customer support, and key Canadian account options. These keep Webull behind in the competitive Canadian market and makes other brokers a better choice.

See Our List of The Best Brokers in Canada

When I sat down to take a close look at Canada’s newest brokerage for my Webull review, I realized a couple of things pretty quickly.

1) Webull had higher prices for Canadian customers than it did for its American clients.

2) Webull doesn’t have TFSA, RRSP, and other Canadian investment accounts available.

Consequently, this US brokerage is not going to be making our list of the best Canadian online brokerages any time soon.

The good news is that our #1 Brokerage (Qtrade) is currently running the best promo I’ve ever seen – trying to capitalize on the RRSP season. You can get the full details below.

What is Webull?

Webull is an online trading platform that allows users to trade stocks, ETFs, and a few other assets (more on this later) with 0 commissions and no minimum deposit.

It’s similar to other American brokers such as Robinhood (another US-only trading app you may have heard of), but it has the added bonus of extended trading hours which allow account holders to make trades as early as 4 am and as late as 8 pm Eastern time.

Webull Review – Comparing To Canadian Favourites

Webull is a popular app, and it’s easy to see why – it has a lot going for it. Here’s a quick rundown of the features so you can see what you’re missing (sorry, but we swear, Qtrade and Questrade are fantastic alternatives!).

Webull Features

  • Webull allows users to open IRA retirement accounts (traditional, Roth, or rollover) and individual brokerage accounts
  • Investments available to trade include stocks, options, ETFs, ADRs, and crypto
  • Trading is open for full extended hours (4 am to 8 pm ET)
  • New users receive 3 free months’ access to Level 2 Nasdaq tools for in-depth analysis (after that, it’s a monthly fee of $1-14 depending on the range of data needed).
  • Webull is safe to use and regulated by the SEC and FINRA

Webull Fees

Webull Canada imposes a fee of $2.99 per trade for Canadian-listed stocks and the same in USD for American-listed stocks, following a 90-day commission-free period for new clients. This introduction of commission fees is in stark contrast to the free trade model that Webull is known for in the United States.

Webull is in such a new introductory stage that they do not even have all of their fees listed on their website. Basically the only thing we know for sure is their $2.99 per-trade fee. We don’t know what their account fees will be (once they get Canadian investment accounts).

We don’t know what sort of one-off transfer fees will be applied either. The only other thing I could gather for this Webull Canada review (after reading through their entire site) is that they charge about 10% interest on margin loans.

Webull Canada Review: Desktop vs Mobile App

Webull offers both a mobile app and a desktop platform. The mobile app is user-friendly, catering to the needs of traders on the go, and is available on both Apple and Google Play stores.

The desktop version, though offering larger and more readable graphics, can experience slower loading times. However, it’s noteworthy that Webull provides round-the-clock support through email and phone, reflecting its commitment to customer service.

Webull Alternatives in Canada

For in-depth looks at our top two Canadian brokerages, make sure to check out our Qtrade Review and our Questrade review. For a quick comparison of how they stack up vs Webull, you can see our Webull vs Questrade vs Qtrade chart below.




User Experience

Geared for wireless use. Pretty lackluster desktop experience.

Excellent user experience, one of the best apps on the market.

 Good progress in user experience.

Customer Service

No Canada-specific data generated yet.

Ranked #1, friendly and accessible customer service.

Improved service, previously long wait times.

Trading Fees

$2.99 per trade for Canadian-listed stocks and USD$2.99 for American stocks after 90-day free period.

$8.75 ($6.95 elite accounts).

$4.95-$9.95 per trade + ECN fees.

ECN Fees



Yes, but don’t apply to every trade

Account Fees

No annual/inactivity fees. $75 for full/partial withdrawals

Quarterly fee of $25. Account closure and transfer fees

Quarterly fee of $25 on some accounts. Inactivity fees

Minimum Balance




Research Tools

Free real-time quotes, free research tools

Top-ranked resources for over a decade

Has made major gains in the past few years


SIPC insured, FINRA member

CIPF Member, IIROC regulated

CIPF Member, IIROC regulated

Investment Account Options

Only basic non-registered
RRSP, TFSA,  FHSA, RESP, Spousal accounts, joint accounts, corporate accounts - basically any option that you can think of.
RRSP, TFSA,  FHSA, RESP, Spousal accounts, joint accounts, corporate accounts - basically any option that you can think of.


None in Canada
$2,000 Cash Back
$50 in Free Trades

Sign Up

Neither QTrade nor Questrade is commission-free like Webull, but they do offer reasonable-to-rock-bottom trading fees. They also feature commission-free buying of ETFs (QTrade allows you to sell ETFs commission-free as well). 

Qtrade shines in customer service – it’s ranked #1 for its friendliness and accessibility. It also has first-class resources for customer research and education. We feel strongly that these features make the fees entirely worth it compared to the less comprehensive resources you get from a no-fee platform like Wealthsimple Trade.

Questrade had a shaky start to 2020 but has made major progress in terms of customer service and resources since then.

While Webull offers IRA and non-registered accounts only, both Qtrade and Questrade offer TFSAs, RESPs, and RRSPs. Both companies allow US dollar trading as well as Canadian currency accounts.

Qtrade and Questrade also offer more investment options than Webull does. Their available assets include:

  • Stocks
  • Mutual funds
  • ETFs
  • Bonds
  • IPOs
  • Options
  • GICs

You can learn more about how these two excellent online trading platforms stack up to each other by checking out our Questrade vs Qtrade comparison.

Webull For Canadians – FAQ

Webull Canada Review Final Verdict: Not today… Maybe not ever

I’m not completely sure why Webull trading entered Canada to be honest with you. They seem to have found a niche in the States, but I’m not quite sure what their value proposition is to those north of the 49th parallel. 

Their lack of any Canadian-specific accounts makes them an automatic cross off for me. Until they get that fixed, and offer a broader range of options, they’re just not really a viable option in terms of recommended Canadian online brokers.


FT is the founder and editor of Million Dollar Journey (est. 2006). Through various financial strategies outlined on this site, he grew his net worth from $200,000 in 2006 to $1,000,000 by 2014. You can read more about him here.
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