Wealthsimple Trade, Canada’s first $0 commission stock-trading app, is available now
Wealthsimple Trade, a new stock-trading mobile app, is available to people across Canada today. With Wealthsimple Trade, Canadians can buy and sell thousands of Canadian and US-listed stocks and ETFs without paying any trading commissions.
Buying and selling stocks has historically not been a great experience for investors: it’s complicated and unnecessarily expensive. Wealthsimple Trade makes the process easier and affordable to everyone. There’s no minimum account size — users can start trading with just $1 — no paperwork, and no jargon. It takes just minutes for new clients to open an account, and existing Wealthsimple clients can sign up with just one tap.
“Stock trading can be confusing and unapproachable, so we wanted to build a more accessible experience using the simple, beautifully designed technology we’re known for,” said Mike Katchen, CEO and co-founder, Wealthsimple. “Our approach to investing hasn’t changed — a diversified, low fee portfolio that tracks the market is the best way to grow wealth over the long term. But there is a place for trading stocks too, and we’re excited to offer Canadians a better way to do that.”
Wealthsimple Trade will continually add new features and improvements in response to feedback from clients. At launch, the app will have the following features and functions:
- Unlimited commission-free trades
- No account minimum
- Thousands of Canadian and U.S. stocks and ETFs available to trade
- Fast order execution
- Watchlist feature to monitor stocks without buying
- Market and limit orders
- Available on iOS and Android
- Personal (unregistered) accounts
Wealthsimple Trade was announced in August 2018 and over 130,000 Canadians signed up to trial a pre-launch version of the app. During this period, more than 7,000 people tested Wealthsimple Trade and provided feedback on their experience.