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Broker review
Webull Review
Up to $250 Cash Back When You Fund Your Account
- $50 for a net deposit of $500 or more, $200 for $20,000 or more, held 90 days
- No code; claim within 14 business days of settlement
- Transfer in $2,000 or more and Webull reimburses $150 in fees, once for cash or margin and once for TFSA or RRSP
No end date published. A bonus is paid once; fees are paid every year, so treat it as a tie-breaker.
Full offer detail
Two offers are open, neither with a published end date. The deposit offer pays $50 for a net deposit of $500 or more and $200 for $20,000 or more, held 90 days, claimable within 14 business days of settlement, no code needed. The transfer offer reimburses $150 in transfer-out fees charged by your old firm when you move a cash or margin account of $2,000 or more, and a further $150 for a TFSA or RRSP of $2,000 or more; one reimbursement per account type. Options contract fees are refunded for three months after activation. Webull’s own pages give two different start dates for the options refund, 13 April and 1 August 2026, both of which have passed. Check the terms on Webull’s site before applying.
Webull Securities (Canada) Limited is a member of the Canadian Investment Regulatory Organization and the Canadian Investor Protection Fund and describes itself as an order-execution-only brokerage, based in Toronto. It belongs to the global Webull group, which also operates in the United States, Hong Kong, Singapore, South Africa and Australia. Crypto trading runs through a separate affiliate, Webull Canada Crypto Limited, and Webull’s own help centre states that crypto is not covered by CIPF.
Webull brought its US-style commission-free pricing to Canadian stocks and ETFs. The costs sit elsewhere: a small monthly account fee, a flat conversion spread, and a shorter list of accounts than the bank brokerages.
Is It Right for You?
Good Fit
- You trade US and Canadian stocks and want both currencies in one account without a conversion each trade
- You want overnight trading on US stocks and heavy charting
- You want 1% on idle cash with no minimum
- You want a TFSA or RRSP and nothing more
Look Elsewhere If
- You need an FHSA, RESP, RRIF, LIRA, joint or corporate account
- You dislike paying to hold an account; $0.70 a month, per account
- You convert large sums; the flat 1.5% does not fall with size
What It Costs
| What you are doing | What Webull charges |
|---|---|
| Buying or selling a Canadian or US stock or ETF | $0 |
| US options | $0 a contract during the current promotion; US$0.99 a contract after it |
| Options exercise or assignment | $1 |
| Account fee | $0.70 a month, per account |
| EFT or Interac e-Transfer deposit or withdrawal | Free |
| Wire withdrawal | $50 domestic, $100 international |
| Failed EFT | $50 |
| TFSA or RRSP withdrawal | $25 partial, $50 full |
| Home Buyers’ Plan or Lifelong Learning Plan withdrawal | $25 |
| Moving your account to another firm | $150 full, $50 partial, plus tax |
| Currency conversion | Exchange rate plus 1.5% |
The $0.70 monthly fee is charged on each account, so a TFSA, an RRSP and a cash account together cost $25.20 a year. Webull’s fee page names CI Investment Services as the firm behind the wire, withdrawal and transfer-out charges. No inactivity fee, minimum balance or minimum to open is published. US sell orders carry a small regulatory pass-through, and American depositary receipts carry a custody fee of one to three US cents a share.
What a Year Might Cost You
Worked from Webull’s own fee schedule for four common patterns: 12 ETF purchases a year, 60 stock trades, 100 options contracts across 10 trades, and converting $10,000 to US dollars once. Where pricing is per share we assume 100 shares an ETF purchase and 200 a stock trade. Illustrations, not quotes.
Buying US Stocks at Webull
A US stock settles in US dollars. If your account holds only Canadian dollars, the broker converts on every purchase and again on every sale, taking a markup each time. Holding US dollars means you convert once. Two things matter: whether you can hold US dollars, and what the conversion costs.
US-Dollar Side
Yes. Every account has a Canadian-dollar and a US-dollar side built in at no charge, and Webull states you can convert from any account type, which on the pages we read includes the TFSA and RRSP.
What It Costs
No charge for the US-dollar side itself.
Simple, but not cheap on large amounts. Converting US$50,000 costs about $750 at Webull, while the bank brokerages’ tiered tables fall below 1.5% on amounts above US$25,000. On a small, one-off conversion the difference is a few dollars either way.
Accounts You Can Open
Registered
TFSA and RRSP, both with options trading available.
Non-Registered
Individual cash and margin accounts.
Not Offered
FHSA, RESP, RRIF, LIRA, joint and corporate accounts do not appear on Webull’s account pages.
Webull’s help centre lists cash, margin, TFSA and RRSP as the accounts you can open. No minimum to open or minimum balance is published.
The Platform and Research
Platform
Webull offers desktop apps for Mac, Windows and Linux, mobile apps, a web platform and free paper trading. Charting includes more than 60 indicators and 20-plus drawing tools. An overnight session runs 8:00pm to 4:00am Eastern on eligible US stocks and ETFs, which together with regular and extended hours approaches round-the-clock trading from Sunday evening to Friday evening.
Research and Data
Nasdaq TotalView Level 2 data is free for the first month and for three more months with a deposit of $500 or more; the price after that is not published on the Canadian site. Real-time options data is free for three months and stays free with one options trade a month. Webull’s Canadian pages do not name third-party research providers, list order types in full, or confirm fractional shares, dividend reinvestment or API access, so treat those as not published.
We have not traded on this platform ourselves, so we make no claims about how it feels to use. Everything above is drawn from what Webull publishes.
Client Tiers
Webull publishes no client tiers, active-trader rates or premium subscription for Canada. Webull Premium exists on the US site, but nothing on webull.ca offers it to Canadian clients.
Interest on idle cash is 1% a year on Canadian and US dollar balances in cash and margin accounts, with no minimum. Margin rates run from prime plus 2% to prime plus 3% depending on currency and balance.
Before You Open an Account
Where It Falls Short
Two Registered Accounts
TFSA and RRSP only. No FHSA, RESP, RRIF or LIRA, which rules Webull out for a first-home saver, a family with an RESP, or anyone in retirement.
A Fee for Holding an Account
$0.70 a month per account, where most commission-free brokers charge nothing.
A Flat Conversion Spread
1.5% at any size. The bank brokerages’ tiered tables fall below that on larger amounts.
Options Are Free Only for Now
US$0.99 a contract once the three-month promotion ends.
Thin Detail on the Platform
Order types, research providers, fractional shares and dividend reinvestment are not documented on the Canadian site.
Common Questions
Is my money safe at Webull?
Webull Securities (Canada) Limited is a member of the Canadian Investment Regulatory Organization and the Canadian Investor Protection Fund. CIPF protects property held by a member firm that becomes insolvent, within set limits, not against investments falling in value. Crypto held through Webull Canada Crypto Limited is not covered.
Can I open a TFSA or RRSP at Webull?
Yes, and both allow options trading. Webull does not offer an FHSA, RESP, RRIF or LIRA.
Is trading really free?
Stocks and ETFs cost $0. You still pay $0.70 a month per account, small regulatory pass-throughs on US sales, and US$0.99 a contract on options once the current promotion ends.
What does it cost to hold or convert US dollars?
Holding them costs nothing; every account has a US-dollar side. Converting costs the exchange rate plus 1.5%, flat, whatever the amount.
Brokerage terms change without notice. Verify current fees and offer terms with the broker before opening an account. This review is general information about a product. It is not investment advice and does not take your personal circumstances into account. MoneyMint is not a registered dealer or adviser. Consider speaking with a qualified professional about decisions that depend on your own situation.
Disclosure. MoneyMint has no paid relationship with Webull. The links on this page earn us nothing.