Webull Expands Into Canada after Gaining Regulatory Approval
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Webull has launched in Canada, allowing retail traders to invest in the local and American stock markets at a lower cost. The launch follows the release of the Webull brokerage services in Canada.
Webull is a licensed investment company in the US, and it is now targeting this new market using an authorized subsidiary known as Webull Securities (Canada) Ltd.
Webull Canada obtained regulatory approval in November last year. While its main offering is stock trading, the platform also supports market data, charting tools, educational resources, and paper trading accounts.
Webull Expands Into Canada
Webull believes that its expansion into Canada will disrupt the local traditional brokerage industry that often faces the challenge of high fees.
“Webull sees a huge opportunity to disrupt a traditionally expensive brokerage system in Canada. We look forward to expanding to another market and providing greater and easier access to trading for all,” said the Group President of Webull, Anthony Denier.
The Webull app first went live in the US in 2018. According to the company, it is already making plans for tens of thousands of users in Canada to use its market data, while also growing its user base in Canada.
Webull Canada’s CEO, Michael Constantino, opined that the Webull trading app sought to bolster access to tools, market data, and insights. It also extended educational tools to users at no charge, making a low-cost trading solution easily available to clients.
Webull’s Efforts towards Expansion
Webull has made several efforts to expand its presence across the Americas region. Towards the end of November, it made several; acquisitions to grow its presence in Latin America. It acquired Flink and a Mexican brokerage firm known as Vifaru Casa de Bolsa.
Webull has also been expanding its presence in Australia. It recently released an integrated cash management tool known as Moneybull. This tool sought to give users in Australia a competitive yield of 5.4% on idle cash deposits in USD.
As part of its efforts toward expansion, the company has also made some leadership changes. It announced the promotion of Gil Vazquez to Managing Director, Head of Trading, Operations, and Customer Experience.
Webull also appointed Arienne Adams as the Chief Strategy Officer and the Head of Derivatives. Adams will report to Webull’s CEO, Anthony Denier, under this new role. His position will entail spearheading the company’s growth and efforts.
