What is foreign exchange?

Foreign exchange is the conversion of one country’s currency into another. For Webull, converting currencies is necessary to purchase stocks from different markets on offer. For example, when purchasing a security from the NYSE or Nasdaq, you will need to purchase the security in the denomination of origin (in this case, USD). Same applies to Canadian securities sold on Canada exchanges. Webull offers a foreign exchange service on the application as a result to ensure that your experience on the application is seamless.