Canadian investors have access to a wide range of trading instruments to make their trades easier. Certain investing platforms, on the other hand, are indispensable due to their superiority. Is Webull even available in Canada, despite its stellar reputation?
The quick answer is no, but you shouldn’t accept no for an answer all of the time. You can get a Webull account capable of making trades without needing to fly to the US if you’re willing to apply workarounds.
In this article, we’ll go over some of the reasons why Webull isn’t available in Canada, as well as how to get around it.
What Exactly Is Webull?
The Securities and Exchange Commission regulates and licenses Webull, an online brokerage (SEC). It provides free trade data such as news feeds and research tools. It also offers commission-free trading, as if that wasn’t enough.
Webull was formed in 2016, however it wasn’t until 2018 that it received a mobile app. The service is currently available as an iOS and Android app, as well as on the web.
You can trade stocks, ETFs, and cryptocurrencies for free on Webull. Despite its youth, the site has already garnered millions of users, rivaling much older competitors such as Robinhood.
The Webull app is incredibly user-friendly, and you can use it on your phone or on a computer. Webull clearly targets newbie investors, which necessitates an accessible interface for a business that offers commission-free trading.
Webull, unlike competitors like Robinhood, provides free access to real-time marketing data and technical analysis tools to its subscribers. There is, however, level 2 market data, which is more in-depth but requires a premium subscription.
However, that isn’t Webull’s sole flaw, assuming you consider it to be one at all. The biggest disadvantage is that Webull is not available in Canada.
If you wish to use all of Webull’s functionality in Canada, you’ll have to use a different service or find workarounds. This post will show you how to perform both of these things, as well as some of the benefits of choosing one over the other.
Is it possible to use Webull in Canada while using a VPN?
If you’ve ever watched a movie on Netflix in Canada that was only available in the United States, you’ll understand how a VPN bypass works. However, when it comes to investment apps, your money is on the line. Can and should you use Webull with a VPN if you’re in Canada?
You shouldn’t do it, in a nutshell. Accessing the app from outside the United States is against Webull’s policy, and unlike other policies, Webull enforces it. If you use a popular VPN, you’ll see that accessing the service is still impossible.
Even if you can discover a working VPN provider, it’ll only be a matter of time before it stops operating as well. And if it does, you could lose all of your trading capital because everything you’ve done up to that point has been illegal.
It is ultimately up to you to decide whether or not you will use Webull with a VPN. Just keep in mind that if you trade with Webull from outside the US, you’re risking your entire trading capital for features that you can acquire elsewhere.
The following section will discuss some of the greatest Webull alternatives in Canada. Instead of jeopardizing your account by trading with a VPN that will eventually be prohibited, you may trade with confidence by using one of the following options.
Alternatives to Webull in Canada?
At this point, it’s clear that Webull isn’t available in Canada, and attempting to go around this would inevitably backfire. As a result, investors are left with only one option: to use an alternative.
For Canadians, there are several Webull alternatives that offer nearly the same set of features as the Webull app. If a function appears to be absent in all apps, it’s most likely due to Canadian legislation.
Here are some of the top Webull alternatives in Canada, along with why you should use them.
1. Tradesimple Wealthsimple Wealthsimple Wealthsimple Wealths
To be honest, Wealthsimple Trade is the only Canadian trading app that can compete with established American options like Webull. The main similarity between WS Trade and Webull is that there is no requirement for a minimum balance in order to trade.
In addition, with a Wealthsimple Trade account, you get commission-free trades as well as free technical analysis and live market updates. You can use the WS Trade app to buy any stock that is listed on an American or Canadian stock exchange.
Both Google Play and the Apple Software Store have versions of this app. There is also a version for desktop PCs that can only be accessed via the internet.
Questrade isn’t the most popular trading app on the market, but it is one of the most established. The platform, which was first launched in 1999, has been in operation for more than 22 years and is only becoming stronger.
While there isn’t much support for cryptocurrencies on Questrade, you may trade options, equities, and ETFs on the platform. Its abundance of experience allows it to offer some of the most in-depth evaluations across all trading apps, all for a modest commission price.