Webull's new crypto service for Canadian users offers six tokens commission-free, but holdings are not CIPF-insured. CEO calls it a 'regulated avenue' for digital assets.
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Canadian investors who trade crypto through Webull's new platform will not have their digital asset holdings protected by the Canadian Investor Protection Fund. The brokerage launched cryptocurrency trading on June 30, a little more than two weeks after its dedicated crypto entity won approval from the Canadian Investment Regulatory Organization on June 17.
The service supports six assets: Bitcoin, Ethereum, Solana, XRP, Cardano, and Litecoin. Trading is commission-free and available around the clock. Users with existing Webull Canada accounts for equities and options can add crypto without a separate account.
The crypto operations run through a separate entity, Webull Canada Crypto Limited, and are not covered by CIPF. Eligible cash sitting in the brokerage account may still qualify for protection under certain conditions, the company said.
The rollout begins with beta access for a select group of clients. A broader launch is expected in the following weeks.
Chief Executive Michael Constantino said the service fills a void. “This service will provide a much-needed regulated and credible avenue for investing in digital assets.”
Webull first entered Canada with equities trading in January 2024. In April 2026 it introduced commission-free equity trading. On June 16, the day before its crypto approval, it added zero-commission trading on U.S. equities.
The CIPF gap is a standard limitation for crypto services in Canada, where digital assets are not classified as securities under the current regulatory framework. Investors using other platforms such as Wealthsimple or Coinbase face similar protections.
CIRO's approval came after a review of Webull Canada Crypto's application, which required the company to demonstrate its custody arrangements and financial stability, including anti-money laundering controls. The restricted dealer designation is the same category used by most crypto trading platforms in Canada.
The beta phase lets Webull test the system before a full rollout. Invitations are being sent to existing clients, the company said. Constantino did not disclose beta user numbers or a date for the public launch.
Unlike platforms that require a separate wallet or exchange account, Webull's crypto service is embedded in the existing brokerage interface. Users can see their full portfolio – stocks, ETFs, options, and crypto – in one place. The zero-commission model may attract cost-sensitive traders in a market where Wealthsimple launched crypto in 2021 and Coinbase registered with regulators in 2023.
The selection covers the largest cryptocurrencies by market cap, excluding stablecoins. Webull has not said whether it plans to add more tokens or offer crypto derivatives in Canada. In the U.S., the platform provides access to Bitcoin and Ethereum ETFs.
The restricted dealer licence subjects Webull Canada Crypto to ongoing CIRO oversight. The company must report changes to its business plan, custody arrangements, and compliance systems.
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