Wealthsimple introduces zero-commission, no minimum stock-trading service
Wealthsimple, a robo-advisor company, announced Aug. 16 the launch of Wealthsimple Trade. This new service will enable Canadians to buy, sell and track stocks and exchange-traded funds (ETFs) through a mobile app, says the company.
Users will have access to unlimited $0 commission trades of over 8,000 publicly-traded stocks and ETFs listed on major Canadian and U.S. exchanges, says the company. “There's no minimum account size – users can start trading with just $1 – no paperwork, and no jargon. Opening an account will take minutes, and existing Wealthsimple clients can sign up with just one tap,” says the company.
Currently in beta
The Wealthsimple Trade app is currently in private beta and will be rolled out to users by invitation leading up to a public launch. Subject to regulatory approvals, Wealthsimple Trade will be offered by Canadian ShareOwner Investments Inc., a registered investment.