Wealthsimple announced March 13 that its new stock-trading mobile app is now available across Canada. Wealthsimple Trade allows investors to buy and sell Canadian and US-listed stocks and ETFs without paying trading commissions.
The company says the app makes stock trading affordable and easy. “Users can start trading with just $1 – no paperwork, and no jargon,” says the company’s announcement. “It takes just minutes for new clients to open an account, and existing Wealthsimple clients can sign up with just one tap.”
A more accessible experience
"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 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, says the company.