Webull has launched an equity brokerage operation in Canada, through its subsidiary Webull Securities (Canada) Limited.
Canadian residents will now be able to utilise the firm’s services, to trade listed Canadian and US equities. Webull received authorisation from Canadian regulators back in November but had delayed launching its operations in the country, until now.
Webull now available in Canada
Clients will be able to utilise execution-only brokerage services in US and Canadian equities and will have access to real-time quotes and in-depth market data, alongside a charting package, that comes equipped with more than 60 indicators, and a suite of educational tools.
Group President at Webull, Anthony Denier, said of the launch:
“Webull sees a huge opportunity to disrupt a traditionally expensive brokerage system in Canada,”
“Since inception, we have been providing powerful market data tools across the world. We look forward to expanding to another market and providing greater and easier access to trading for all.”
His colleague, Michael Constantino, the CEO of Webull Securities (Canada) Limited, said:
“Webull’s state-of-the-art app, driven by world-class technology, offers market data, tools, analytics, and education for free and brings a low-cost trading solution right to your fingertips.”
Who are Webull?
Webull launched its trading platform in the US back in 2018 as an SEC-registered broker-dealer and member of FINRA.
The firm is headquartered in New York and has operations in London, South Africa, Hong Kong, Singapore Japan, Australia and Indonesia.
North American expansion
The brokerage, which specialises in low-cost execution and trading, also recently launched in Mexico through the acquisition of a local rival Flink, which was founded in 2017 and will now integrate its technology into the Webull trading platform.
Flink had previously raised $57.0 million in a series B funding round, that was led by VC firm Lightspeed Venture Partners, and had acquired Mexican stock broker, Vifaru Casa de Bolsa.
Mexico has a population of 126 million people, the vast majority of whom are under the age of 64 which is exactly the kind of target market that the Webull platform is aimed at.
Covering North America from top to bottom looks to be a shrewd move by Webull it will be interesting to see how quickly they can offer additional services to clients across the continent.