You have probably heard about the Webull app on YouTube and want to know if it’s available in Chile, right?
Webull is a modern and easy-to-use investment app from the US, which has introduced the concept of commission-free trading in financial products such as stocks and ETFs.
Want to know if Webull’s expansion plans, if it’s available in Chile, and the alternatives? We’ve got you covered!
What is Webull?
Webull is an investment app based in the United States, which does not charge a commission when investing in stocks or other financial products.
Due to its user-friendly and modern app and the fact that it does not charge fees when investing in stocks and other products, this company has become well known worldwide, alongside its biggest rival, Robinhood.
Once again, the Internet has democratized access to investments. Through apps like Webull or Robinhood, anyone can invest in the stock market without a lot of money or having to pay high fees for that.
Its success was due to its innovative product and its referral program, which encourages users to recommend others and receive a reward for doing so, making this company a world first.
Is Webull Available in Chile?
Unfortunately, Webull is not yet available in Chile, and the company has not yet made any public announcements about a possible expansion. Currently, Webull can only be used in the United States and Hong Kong.
Webull App Alternatives in Chile
To help you find a Webull Chile equivalent, we have only focused on low-cost brokers available in Chile. Here are our suggestions:
Commission-free stock and ETF trading. You can also copy other traders/investors. Slick, modern, and easy for anyone to use. It is trusted by over 20 million clients worldwide.
Disclaimer: 67% of retail CFD accounts lose money when trading with this provider.
Targeted for more experienced investors, Interactive Brokers offers a wide range of products from many exchanges worldwide.
eToro at a glance
Founded in 2006, eToro is a well-known worldwide fintech startup and leader in the social trading field (following other people’s trades), with over 20 million users worldwide. You can also invest in other products such as CFDs, ETFs, stocks, commodities, Forex, and cryptocurrencies through its platform, which is intuitive and simple to use, making it a good choice for beginners. It has also started offering commission-free stock and ETF trading in Chile (not all ETFs are commission-free).
Opening an account and depositing is easy, and you can even try it out with virtual money. On the downside, the only currency accepted is the USD, so you’ll pay currency conversion costs upon deposit and withdrawal, and spreads can be high for some products, like cryptocurrencies. Full eToro review available here.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
2# Interactive Brokers
Interactive Brokers at a glance
If you’re looking for an online broker with a wide range of products from different markets, solid trade execution, and a sophisticated trading platform, then Interactive Brokers might be a good alternative to the Robinhood broker.
Founded in 1978 and publicly listed in NASDAQ since 2007, Interactive Brokers is a global online broker that offers access to dozens of markets worldwide, not only US-listed assets. Besides the low costs, this is one of their main differentiators.
They also offer an educational area with free resources for financial education.
Which platform should you choose?
Some factors you should be aware of when choosing an online broker are the fees charged if it is regulated by top-tier institutions such as the FCA in the UK and the range of products it allows you to trade (not all platforms allow you to trade cryptocurrencies or stocks listed on the London Stock Exchange, for instance), among other factors.
The best online broker in your specific case will depend on your profile, preference, and objectives. Explore the websites above and decide for yourself!
A reminder that the above should not be construed as investment advice and should be considered information only. Investors should do their own research and due diligence about the services and opportunities best suited for their risk, returns, and impact strategy.
We hope this has helped – please leave your comments below.