Investing · Broker review
Webull Canada review
$0 commissions, a polished platform and free Level 2 data — with a TFSA/RRSP-only lineup, a 1.5% FX toll, and a $7.50 annual fee its marketing forgets to mention.
Best for: Cost-conscious stock traders comfortable with a CAD-only registered account and no retirement-income path
Pros
- $0 commissions on US and Canadian stocks and ETFs
- US$0.99/contract options ($0 for 3 months on new deposits to Jun 30, 2026) with 14 strategies supported
- Free Nasdaq Level 2 and real-time options quotes on light activity
- Up to $300 in transfer-fee reimbursements (one registered + one non-registered)
Cons
- No RRIF, RESP, FHSA or LIRA — and registered accounts run in CAD only
- 1.5% FX markup on every CAD↔USD conversion (US$10 minimum exchange) — the real cost of “free” US trading
- $7.50/year maintenance fee charged by carrying broker CI, despite the $0 marketing
Who Webull is
Webull Securities (Canada) is the Canadian brokerage of Nasdaq-listed Webull Corporation — CIRO-regulated, CIPF member, and structured as an introducing broker: CI Investment Services carries the accounts, custodies the assets, and issues the statements; per Webull’s own disclosure, “for accounting and regulatory purposes, you will be considered a client of CI.” That’s a normal, regulated arrangement — but worth understanding before wiring your savings in.
The platform is the draw: a genuinely good app and desktop with paper trading, free Nasdaq Level 2 (a month free, extended with a $500 deposit) and options analytics covering 14 strategies.
The fees, plainly
Stocks and ETFs trade at $0, US and Canadian. Options cost US$0.99/contract — and new clients who deposit and activate options between Apr 13 and Jun 30, 2026 pay $0 contract fees for three months (note Webull’s own pages disagree on the start date; the options page says Apr 13). Exercises and assignments add $1 per leg.
The costs live at the edges: a 1.5% FX markup each way (with a US$10 minimum per exchange) prices every US trade in a CAD-funded account, and a $7.50 annual maintenance fee from CI contradicts the $0-fees impression. RRSP deregistrations: $25 partial, $50 full. Transfers out: $50 partial, $150 full.
For retirees
Same structural wall as Moomoo: TFSA and RRSP only, with both running in CAD — there is no USD side, so a US-dividend strategy pays the 1.5% toll on income and principal alike. No RRIF means a forced, fee-bearing transfer out by 71.
The welcome math is decent for what it is — up to $250 deposit cash back plus $300 in transfer-fee reimbursements ($2,000 minimum) — but no end dates are published for the offers, so verify before counting on them.
Frequently asked questions
What does Webull Canada charge to trade?
Stocks and ETFs: $0 on US and Canadian stocks & ETFs. Options: US$0.99/contract (+$1/leg on exercise or assignment); $0 contract fees for 3 months on first deposit + options activation Apr 13–Jun 30, 2026. Account fees: $7.50/year maintenance, charged by carrying broker CI — despite the $0 marketing; deregistration $25 partial / $50 full. Figures verified at Webull Canada's own pricing pages on June 10, 2026 — compare the whole field on our Best online brokers ranking.
Which registered accounts does Webull Canada offer? Can it hold a RRIF?
TFSA and RRSP only — no RRIF, RESP, FHSA or LIRA. No RRIF — an RRSP here must eventually transfer elsewhere to become retirement income. See the RRIF minimum calculator for what the drawdown schedule looks like.
Is my money safe at Webull Canada?
CIRO dealer, CIPF member; introducing broker — CI Investment Services Inc. carries and custodies your account (you are formally CI’s client). CIPF covers up to $1M for general accounts, plus $1M for registered retirement accounts combined, plus $1M for RESPs — against the firm failing, never against investments losing value. For cash deposits (a different regime), see the CDIC coverage planner.
The bottom line
A capable $0 platform for taxable stock trading and cheap options, wrapped around an account lineup that can’t hold a retirement. Use it for what it does well; keep RRIF-bound money at a full-lineup broker.
Ready to compare Webull Canada against the field?
The whole field, verified at the source and ranked.
This review is for educational purposes only and is not investment advice. Commissions, FX rates, account fees and offers shown were verified at the broker's own published pricing on June 10, 2026 and change without notice. Our editorial rating reflects costs, account lineup, currency handling and service — it is never paid for. CIPF protects against member-firm insolvency, never market losses. Confirm current terms on the broker's site before opening an account. See our methodology.