Can You Use Webull in Canada?

Can You Use Webull in Canada?

PiggyBank is reader-supported. We may be compensated if you use, sign-up or apply for services through our links. See our Advertising Disclosure.

Subscribe to our daily newsletter to get the latest news, expert advice and exclusive offers!

Webull launched a Canadian offering in January 2024.

Webull is a popular trading platform that offers commission-free trading on a variety of different stocks or ETFs.

Webull Alternatives for Canadians

Interactive Brokers Logo

Interactive Brokers


  • Low commissions, especially for high-frequency traders.
  • Robust platform with a variety of advanced tools.


  • Platform design and function takes some getting used to.
Wealthsimple Logo

Wealthsimple Trade


  • No account minimums required.
  • Easy-to-use mobile and web platforms.


  • Plus subscription required to have a USD account to avoid FX fees.
  • Lack of research tools and insights.
Questrade Logo



  • No fees to purchase ETFs.
  • Easy to navigate mobile and desktop platform.


  • Minimum account balance of $1,000 is required to trade.
  • Subscription required to stream real time quotes.

There are three main discount brokerages that are very similar to Webull.

Interactive Brokers, Wealthsimple Trade, and Questrade are all options for Canadians who want a low-fee, easy-to-use option.

For a full list, you can also visit our best trading platforms page for further details.

Interactive Brokers

Interactive Brokers is a great broker for Canadians.

The costs of trading are extremely low, and there are several different pricing structures to choose from depending on the type of trader you are.

The fixed pricing structure offers trading for as low as $0.005 per share of US equities, with a minimum of $1 and a maximum of 1% of the trade value.

For the tiered structure, pricing starts at $0.0035 per share for the first 300,000 shares and drops to $0.0005.

As you can see, high-frequency traders are likely to benefit the most from the Interactive Brokers pricing structure.

In addition, Interactive Brokers has some of the lowest (if not the lowest) margin rates in the industry.

Aside from stocks, investors also have access to a wide range of other assets, including ETFs, options, futures, FOPs, warrants, structured products, SSFs, currencies, commodities, indices, fixed income, and mutual funds.

Interactive Brokers offers their Canadian clients a variety of account options.

Both registered and non-registered accounts can be created in just a few simple clicks.

TFSA, RRSP, Spousal RRSP, margin accounts, and various trust accounts are all available through the trading platform.

Interactive Brokers also offers the ability to trade fractional shares, except in RRSP and TFSA accounts.

This feature has been highly requested, as it allows for traders operating with small sums of money in their accounts to buy stock in companies with high individual share prices such as Amazon.

The investment platform offers both a mobile application and a desktop application, both of which have an initial learning curve to them.

However, once users get a grasp of the interface, there are a variety of useful features that can be used to conduct research to make better financial decisions.

Lastly, Interactive Brokers also offers interest up to 4.83% on idle cash balances sitting in your trading account.

Wealthsimple Trade

When looking for alternative trading platforms in Canada, Wealthsimple Trade offers an easy-to-use platform, low-cost fee structure, and a variety of service offerings to meet different needs.

Wealthsimple Trade offers a friendly interface and easy-to-navigate platform.

Account setup is extremely straightforward and can all be done through the mobile application.

Once you have an account, it is easy to search for stocks and make your first purchase.

While Wealthsimple did not initially offer a web-based platform, the feature has recently been added.

Both web and mobile offer a similar sleek and polished experience, making trading much more accessible to newer traders.

Wealthsimple Trade offers commission-free trading for most Canadian stocks and ETFs.

With a regular account, only Canadian dollars can be held, meaning that purchasing U.S. equities requires a 1.5% transaction fee.

However, the recent addition of their Plus subscription for $10 per month provides users with USD accounts or the ability to hold funds in USD.

Wealthsimple Trade offers fewer account options than other platforms.

Currently, only three types of accounts can be opened: RRSP, TFSA, and non-registered personal savings accounts.

While the selection is limited, many traders will prefer to trade in either an RRSP or TFSA due to the tax benefits associated with these accounts.

The lack of additional account options should not dissuade traders from choosing Wealthsimple Trade.

Wealthsimple Trade also offers fractional trading on a limited number of Canadian and US equities.

As previously mentioned, this feature has received lots of positive reviews, as newer traders in Canada have long looked for opportunities to purchase stocks in companies like Amazon or Tesla.


Questrade has been around in the Canadian market for over 20 years.

During this time, the company has consistently been rated amongst the top investing platforms in the country by offering low-fee trading and a variety of services that cater to both amateur and experienced traders.

Just like Interactive Brokers, Questrade offers a few different account options depending on user needs.

Regular accounts have commissions ranging from $4.95 to $9.95 for most Canadian and U.S. stocks. The company also offers an Active Trader package which can bring commissions down to as low as $0.01 per share.

Aside from stocks, Questrade offers access to several other assets including ETFs, options, forex, CFDs, mutual funds, bonds, GICs, and commodities.

In terms of account types, Questrade offers a large range of both registered and non-registered accounts.

This variety opens up investing to those with different financial goals, from saving for education to retirement planning.

Money can be held in either USD or CAD, which can allow traders to buy and sell both Canadian and U.S. equities with ease while saving higher-frequency traders hundreds of dollars in transaction fees each year.

One feature not offered by Questrade is fractional share trading.

In this area, both Interactive Brokers and Wealthsimple Trade come out ahead.

Both the mobile application and desktop application are fairly straightforward and easy-to-use.

A variety of customization options are available, allowing traders to focus on what is important to them.

What is Webull?

Founded in 2017, Webull is a commission-free trading app that is available in the United States and a handful of other countries around the world.

The Chinese-owned platform started by an ex-Alibaba employee allows users to trade stocks, ETFs, and options through an easy to use platform.

Webull is great for first-time investors, offering tons of research tools and information to educate and guide investment decisions.

In addition, the platform is available on both mobile and desktop, with both versions providing a slick user experience.

The platform also has no account minimums and no annual account fees.

Taken together, all of these offerings make the platform a great place for casual investors to dip their toes into the stock market and learn the ropes. 

Features of Webull

Zero-commission Trading: Webull offers zero-commission trading for stocks, ETFs, and options. This means that investors can trade without incurring any fees for buying or selling securities.

Extensive Analytical Tools: Webull offers a wide range of analytical tools that enable investors to research and analyze stocks. These tools include real-time market data, technical indicators, financial calendars, news feeds, and earnings calendars.

User-Friendly Interface: Webull has a user-friendly interface that makes it easy for investors to navigate the platform and execute trades. The platform offers customizable watchlists and real-time data that enable investors to stay on top of their investments.

Mobile App and Desktop Platform: Webull offers a mobile app and desktop platform that allows users to trade from anywhere.

How does Webull compare to Canadian Investing Platforms?

Commission Fees: While Webull offers zero-commission trading in the United States, Canadian investors may still need to pay commission fees when trading securities. Canadian investing platforms such as Questrade and Wealthsimple Trade offer zero or low commission fees for trading whereas big bank platforms such as TD Direct Investing charge standard fees.

Range of Securities: Canadian investing platforms offer a wide range of securities for trading, including stocks, ETFs, and mutual funds. While Webull offers trading for stocks, ETFs, and options, Canadian investors may prefer a platform that offers a wider range of securities.

Regulatory Compliance: Canadian investing platforms are regulated by the Canadian Securities Administrators (CSA) and are required to comply with Canadian securities laws.

Can Canadians Use the Webull Paper Trading Feature

Yes, Canadians could always access the mobile or desktop application and use the paper trading feature.

This feature simulates stock trading without needing to actually deposit your own money, making it a great way to learn about the stock market in a risk-free way.

Frequently Asked Questions

Still have questions? Ask PiggyBank!
Email Us

Can non-US citizens use Webull?

Non-U.S. citizens from United States, India, Brazil, Turkey, Japan, China, and Korea can currently open accounts on the Webull platform. Webull has announced that service for Canada will launch shortly.

Can you trust Webull?

Yes, Webull is safe and regulated through financial authorities in the United States. This includes investor protection under the Securities Investor Protection Corporation's (SIPC) protection scheme of up to $500,000 in securities, including a $250,000 cash limit.


Baggio Ma

Baggio Ma

Baggio has been investing for nearly a decade, using the perspectives gained from his work experience in the private, public, and non-profit sectors to shape his investment outlook. He has a specific interest in the potential of emerging disruptive technologies and their impact on the future.

Read Next

More resources to help with your journey

PiggyBank Daily

Subscribe to our daily newsletter to get the latest news, expert advice and exclusive offers!