Webull Canada, a subsidiary of Webull Corporation, has begun offering zero‑commission trading for U.S. and Canadian equities across all account types—including TFSA, RRSP, margin, and cash accounts—effective immediately. The move eliminates the $2.99 per‑trade fee that Canadian investors previously paid for U.S. stock trades, allowing users to invest more fully in their portfolios.
The launch positions Webull Canada to compete more directly with other Canadian platforms that have already eliminated commissions, such as Questrade and Wealthsimple. Questrade offers $0 commissions on Canadian and U.S. stocks and ETFs, with additional fees for options and selling U.S. securities, while Wealthsimple provides $0 commission trading for stocks and ETFs but charges a currency‑exchange fee for U.S. trades. By removing the commission barrier, Webull Canada aims to attract active traders and long‑term investors who are sensitive to trading costs, potentially boosting trading volume and user growth.
Webull’s parent company reported strong financial performance in the most recent quarter. In Q4 2025, Webull Corporation generated $165.2 million in revenue—up 50% year‑over‑year—and a net income of $3.0 million. For the full year 2025, total revenue reached $571 million, a 46% increase, with a net income of $24.8 million. Payment for order flow (PFOF) accounted for $304.1 million, or 53.3% of total revenue, underscoring the importance of alternative revenue streams beyond commissions. The company also reported $8.6 billion in net deposits and a net loss attributable to ordinary shareholders of $487.5 million, reflecting the high cost of customer acquisition and the reliance on PFOF.
Webull Canada’s previous commission structure charged $2.99 per trade for Canadian equities and $2.99 for U.S. equities, with a zero‑commission promotion for the first 90 days of a new account. The new zero‑commission policy removes that fee entirely, though regulatory and exchange fees may still apply. The launch is part of Webull’s broader strategy to expand its global footprint—operating in 14 markets and serving over 26 million registered users—by offering a competitive pricing model that aligns with industry trends toward commission‑free trading.
"Every dollar Canadian investors once spent on commissions is now a dollar fully invested in their future," said Michael Constantino, CEO of Webull Canada. The statement highlights the firm’s commitment to reducing friction for Canadian investors and underscores the strategic importance of the launch in a market where commission elimination has become a key differentiator.
Webull Canada’s zero‑commission launch is a major operational milestone that could accelerate user acquisition and trading activity in Canada. By eliminating commissions, the platform positions itself to capture market share from incumbents while leveraging its existing global infrastructure and user base. The move also signals Webull’s confidence in its ability to generate revenue through alternative channels such as PFOF, margin lending, and premium services, thereby mitigating the impact of the commission removal on its overall profitability.
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