Not long ago, we assembled a team of Wealthsimple engineers, designers and financial wizards to build Canada’s best, most beautiful, simplest, and no-fee-est no fee stock trading app. Something that would completely change the slightly crappy experience of buying and selling stocks and ETFs. And today we’re ready to show it to you.
Behold Wealthsimple Trade!
Well, actually, if you want to behold it you'll have to sign up so you can be one of the first to try it.
In order to answer your most burning commission-free trading questions, we composed this handy FAQ.
Aren't you guys some kind of high tech robot investing service? Why are you doing this?
We are not robots.
When we founded the company is 2014, we had a single mission: help people gain financial freedom by giving the powerful financial tools that rich people use to everyone. (If you want to understand the breadth of our mission and how we're going to do it, check out our brand new Culture Manual). Our automated investing portfolios are one tool. Our smarter savings accounts are another tool.
And now there's Trade.
Why did you do it?
You may not know that our very first version of Wealthsimple was a service that would let our clients build their own portfolios. Most of them told us they'd rather pay a very small fee to let us do it for them. But a lot of our clients still want to be able to do that. They like tinkering with their investments, rebalancing them. And with Trade, they can.
And there are also lots of Wealthsimple clients who, though they want us to build and maintain their long-term investing portfolios, also want to buy and sell stocks. Because maybe they believe in Tesla, or Amazon, or the Brazilian energy sector. With Trade, they can do it all in one place.
And then of course we did it because online and traditional brokerages in Canada leave a lot to be desired. And we knew we could do it better.
Why's it better?
A lot of us on Team Wealthsimple have our own brokerage accounts, so we know firsthand how frustrating they can be. Clunky interfaces, high fees for trading, troublesome account minimums. Wealthsimple Trade doesn't have any of that.
Here's a short run-down of how it works, and works better:
Unlimited commission-free trades of over 8,000 Canadian and U.S. stocks and ETFs
No account minimum
Instant execution of trades
One-tap sign up for existing Wealthsimple clients
Zero annoying paperwork, no jargon
Available on iOS and Android
CIPF protection up to $1,000,000
It's also really pretty to look at
But wait, aren't you always telling me betting on stocks isn't good for my retirement account?
Yes, we say that a lot. Because it's true. And the fact that we help you invest more responsibly is part of what's different about Trade — other services tend to just throw clients into the fire.
For instance, we’re pretty sure we’re the only platform that reminds you that — should you decide to buy an individual stock rather than creating a diversified portfolio — you should only buy and sell stocks with money you can afford to lose some, or all, of.
We have always believed that the smartest way to grow your money long-term is to have a diversified, low-cost portfolio. That hasn't changed. But that doesn’t mean we’re against buying and selling individual stocks — as long as it’s done as part of a larger financial plan. Trade will help you stick to that plan instead of blowing it up.
How does trading stocks fit into that holistic financial plan you're talking about?
As long as you're saving enough for the future, our advisors believe it's fine — healthy, even — to take a small portion of your money to make riskier investments.
So whether you want to build your own investing portfolio or invest in an individual company you believe in, Trade is a better way to do it.
Join the waitlist
Okay, we know what you’re thinking: instant commission-free trading? I’m in.
We’re starting small, so we can’t let everyone open accounts just yet. Sign up for our waitlist, and we’ll let you know the second we have room for you to join.
Want to move up the list? Invite people to join Wealthsimple Trade, and you’ll slide toward the top.
So that's it. Wealthsimple Trade: another financial service that makes investing easy and affordable for all. We hope you’re as excited as we are.
Wealthsimple uses technology and smart, friendly humans to help you grow and manage your money. Invest, save, trade, and even do your taxes in a better, simpler way.