Webull Canada is Unavailable, Here Are Your Alternatives

| February 9, 2022
✓ Verified by Vishesh Raisinghani

Webull is not available in Canada.

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

While Canadians can download the app and use their available research tools, Canadian citizens cannot open accounts on Webull at this time.

When Will Webull Be Coming to Canada?

While Webull has stated they are planning to enter new regions, there have been no additional details on which countries will be included in their expansion plans.

There are no details available on whether Webull is currently planning on coming to Canada.

Webull Alternatives for Canadians

Interactive Brokers


A low-cost platform with access to a wide range of asset classes. The platform offers a number of technical and research tools to conduct analysis, making it an excellent choice for advanced traders.


  • Offers the option to trade fractional shares of stocks and ETFs on U.S.-based exchanges
  • Commissions are low and structured in a way that creates greater savings the more you trade.


  • The platform isn’t as user-friendly as some of the other alternatives.
  • The pricing structure is more complicated than other alternatives, and it can be difficult to understand how commissions are calculated.



Webull features a user-friendly experience and tons of great research and analysis tools. Marketed towards younger investors who are looking for low-fee, easy-to-use trading platforms.


  • Easy to use platform
  • Access to a wide variety of research tools


  • Trading platform is not currently available in Canada
  • Does not offer real-time live support options.
  • Limitations on the securities that are available for trading on the platform.
Wealthsimple Trade


Wealthsimple Trade was the first in Canada to offer zero-commission trading. The platform is ideal for newer traders and investors as it combines basic functionality with a well-designed, user-friendly interface.



  • Accounts can only be kept in Canadian dollars.
  • On purchases of US equities, users are charged conversion fees.

Luckily for Canadians, there are several different alternatives to Webull.

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.

Interactive Brokers 

Interactive Brokers and Webull have a lot in common.

Depending on the type of trader you are, Interactive Brokers allows you to choose from a variety of pricing schemes.

The fixed pricing option allows traders to trade US equities for as little as $0.005 per share, with a minimum of $1 and a maximum of 1% of the trade value.

Pricing for the tiered structure begins at $0.0035 and drops to $0.0005 after the first 300,000 shares.  

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

In addition to stocks, investors can invest in Options, ETFs, Mutual Funds, Futures, FOPs, Structured Products, Warrants, SSFs, Indices , Currencies, Metals and Fixed Income.

Other features worth noting are the large range of options for account types and the ability to trade fractional shares.

Both a smartphone app and a desktop app are available for the investment platform.

Both platforms require some time to learn.

However, once users get comfortable with the design, there are a number of valuable elements that can be utilized to conduct research and become more knowledgeable before making investment decisions.

Wealthsimple Trade 

Wealthsimple Trade is one of the most similar Webull alternatives in terms of functionality.

Aside from featuring an easy-to-use interface, Wealthsimple also offers a low-cost charge structure, and a range of service offerings to fit diverse demands.

Together, these features make Wealthsimple attractive to younger and less experienced traders.

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

Because Wealthsimple accounts may only hold Canadian dollars at this time, purchasing US-based equities, such as stocks listed on the NSYE or NASDAQ, will come with a 1.5% transaction fee.

Compared to other platforms, Wealthsimple Trade notably offers fewer account types.

RRSPs, TFSAs, crypto, and non-registered personal  accounts are the only  types of accounts that can be opened right now.

While the options are limited, many traders will prefer to trade in a RRSP or TFSA because of the tax advantages these accounts provide.

For the majority of investors, this absence of other account options will probably not be a huge factor when choosing whether or not to use Wealthsimple Trade.


Like Webull, Questrade also offers a variety of account types and features according to the demands of the consumer.

Most Canadian and US equities have commissions ranging from $4.95 to $9.95 in regular accounts.

An Active Trader package is also available, which can reduce commissions to as little as $0.01 per share.

Questrade offers a wide range of investment options in addition to equities.

The Questrade platform allows you to buy and sell ETFs, Options, Forex, CFDs, Mutual Funds, Bonds, GICs, and Precious Metals.

Questrade offers a wide range of registered and non-registered account types.

This diversity makes investing accessible to people with unique financial goals, from education savings to retirement planning.

Money can be stored in either USD or CAD, allowing traders to easily purchase and sell Canadian and US securities while saving high-frequency traders hundreds of thousands per year in transaction fees.

Guy on Webull website on MacBook

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. 

Webull main competitor in the United States is Robinhood.

The two platforms feature many similar functions, and many moved over to Webull earlier this year following outrage at actions taken by Robinhood over blocking of trades on their platform.

The company saw a nearly 1,500 percent increase in downloads in the aftermath of the Robinhood controversy

Can Canadians Use the Webull Paper Trading Feature

While Canadians cannot open accounts and deposit money in the Webull app, there are many other useful features that are accessible.

For example, Canadians can 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

  • Can non-US citizens use Webull?
  • 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.

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