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Email this5:17 pm
January 3, 2013
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Hi,
Recently heard of this broker, Webull. Seems they have been in the US since 2016 and listed on NASDAQ in 2025.
They are offering a 2% match for amounts transferred by the end of the year up to $5M or $100K.
Also, they have referral bonus up to $3K (for more than $500K).
They only have TFSA and RRSP accounts.
I have all my investment in Wealthsimple.
The offer is really appealing but I am second guessing myself.
Could create an account for my wife. Have her deposit $500 then refer me and we collect around $10K within 12 months. Need to keep the money there for 1 year.
What do you think? I can't find any catch!
Webull won't get any benefit out of this unless the person actively trade $2.99/trade which I don't. I will keep using WS for investing new money.
Any thoughts?
Thanks.
7:03 pm
April 27, 2017
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It's likely fine but with Chinese roots/data security risks and geopolitics I am not considering them as an option.
7:09 pm
January 3, 2013
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Thank you for your feedback. Is there any risk you are worried about or it is just because they have Chinese roots?
Data security or you mean data privay? Like they get access to our name/SIN/etc?
They operate in many countries including the US.
7:13 pm
April 27, 2017
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I know they supposedly operate from the US now and are owned by a shell company in Cayman Islands. And that questions are being asked in US Congress. Nothing other than that but it’s enough for me personally to ignore them.
4:45 am
April 21, 2022
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If you're trying to game Webull's offers and looking for assurance or advice, you're best off on other sites like Reddit or RedFlagDeals where lengthy discussions take place with other gamers.
8:38 am
October 27, 2013
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I don't see the point of considering an unknown (in Canada) upstart when there are a number of very good existing options. Webull has been in Canada less than 2 years as of this date.
Why do I want to consider this when one can get everything they need commission free at well known NBDB as an example? Or Wealthsimple if someone is so inclined? Or Qtrade? Or Questrade?
Webull Canada is a subsidiary of Webull Corporation, a global digital investment platform. While Webull Corporation has operations in many countries, its global headquarters are in St. Petersburg, Florida, and it was founded by Wang Anquan, a former Alibaba executive in 2016. In April 2025, Webull Corporation completed a business combination with a special acquisition company, making it a publicly traded entity on the Nasdaq
See more detail at https://en.wikipedia.org/wiki/Webull
10:45 am
January 12, 2019
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mordko said
It's likely fine but with Chinese roots/data security risks and geopolitics I am not considering them as an option.
Those 'roots' you refer to involve much more than just any one single ethnic/racial group❗
The Real concern here is that 'Communist Dictatorship Operatives' are most likely involved.
As for which Countries they potentially hail from, take you pick ... N. Korea, Cuba, Mainland China, etc.
- Dean
P.S.
Until recently, W1BoC was in a similar Fix.
" Live Long, Healthy ... And Prosper! "
4:49 pm
January 3, 2013
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Thank you for your feedback.
I mean, we all buy Chinese items. From Ali Express to Shein to almost everything that we get from Amazon, etc. What's one more place?
5:16 pm
April 27, 2017
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To me there is a fairly obvious difference between:
a) buying an item and
b) buying a service which involves your money and personal data being handled by an organization with links to Beijing.
Reputable sources like CSIS state that PRC routinely engages in espionage and influence operations targeting Canadians and I don’t see any reason to make CCP’s job easier.
Please write your comments in the forum.