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The Toronto based wealth management startup has launched the first zero-commission stock trading service in Canada. Robinhood, Wealthsimple's would-be competitor, has not announced any plans to expand into the Canadian market.
Starting Thursday, a group of customers will be invited to start using a beta version of the platform and encouraged to share feedback with the company before it undertakes a broader rollout. The trading platform will only be available in Canada for now, although Wealthsimple does offer some of its products in the U.S. and the U.K. It will start by offering the ability to buy and sell shares of more than 8,000 Canadian and U.S. stocks and exchange-traded funds, and says it plans to keep adding to that number in the future.
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