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Tag: financial app

  • How to find a budgeting app that works for you – MoneySense

    How to find a budgeting app that works for you – MoneySense

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    “You can make them the way you want instead of trying to fit into the box that the app has given you,” she said.

    Are budgeting apps secure?

    Meanwhile, Fry says she doesn’t often recommend her clients use budgeting apps because of security reasons and instead encourages them to record expenses manually.

    Cybersecurity needs to be a top priority when choosing a financial app that uses, links to and even stores sensitive banking and credit card data.

    Traditionally, when people sought financial help, people would go see an adviser and talk money in private and would know that information is safe with the professional, said Robert Falzon, head of engineering at cybersecurity firm Check Point Software Technologies, Ltd.

    “With using apps online, we’re doing the same thing but there is no expectation of safety,” he added.

    Data theft often tops the list of concerns among budgeting app users, but Falzon said there are ways to work with these apps safely.

    Using strong passwords and multi-factor authentication can help prevent breaches right from the start, he said. Using bank-provided budgeting apps that are local to Canada, or tools from reputable organizations, can also help avoid vulnerabilities.

    Other safety tips include using apps that have encryption and a robust security protocol, Falzon said. Making sure there’s security software on mobile devices and that people are not using public Wi-Fi to access their banks or financial apps.

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    The Canadian Press

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  • Webull Canada Review 2024 – MoneySense

    Webull Canada Review 2024 – MoneySense

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    Is Webull available in Canada? 

    Yes. Webull Corporation, a popular Cayman Islands-owned and -operated digital brokerage, opened for business in Canada in January 2024. Prospective clients are invited to join a waitlist to set up an account at webull.ca. Like some other providers, Webull uses a waitlist to manage the pace of new client onboarding and avoid glitches. Generally after two business days, you can access the app and website with your account.

    Can you use Webull in Canada?

    The big difference between Webull Canada and the Webull version in the U.S., where it’s been operating since 2018, is the commission structure. Whereas basic trades in the U.S. are free, Webull Canada will charge $2.99 per trade for Canadian-listed stocks and USD$2.99 for stocks listed on American exchanges following a 90-day commission-free period for new clients. 

    “Canada, as a whole, is… more expensive (in the broker/dealer world) in terms of costs and fees to do business than the U.S.,” explains Michael Constantino, CEO of Webull Securities (Canada) Limited. He also noted that Webull charges commissions in most of the countries where it operates. Still, the commissions were a disappointment to a lot of Canadian investors commenting on Reddit. 

    Webull desktop vs. Webull app

    Webull has a phone app you can download via Apple’s App Store and Google Play, and the login process is easy. You get the sense it’s geared for wireless generally. You can also access your account by desktop, which boasts bigger, more readable graphics, but the pages can take a bit of time to load.

    Webull promises 24/7 support by email and phone.

    Webull trading

    Webull Canada only supports stock trading for now, not the award-winning options trading platform available stateside. (Also, cryptocurrency trading is available through a separate app called Webull Pay.) On the positive side, there are no charges for deposits and withdrawals from your Webull Canada account. The company’s clearing firm charges a fee for wire transfers, however. On margin accounts, it charges interest rates a tad below 10%.

    In addition to equity trading, Webull offers users real-time quotes and market data, more than 20 charting widgets and 60 indicators and paper trading for practice.

    Webull is a member of the Canadian Investor Protection Fund, meaning any cash or assets sitting in your account are insured in case the firm becomes insolvent.

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    Michael McCullough

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