Wealthsimple is an all-in-one investment and financial management application available on Android devices. Users can trade, save and grow their wealth.
Without commissions
The platform allows investors to trade stocks and ETFs with no commission fees, providing a cost-effective entry point to increasing income. Similar to cTrader, there is real-time market data, customizable watchlists and instant trade execution. Users can build their portfolios by putting money in fractional shares of major companies.
In addition to traditional assets, the app supports cryptocurrency trading with a built-in wallet. You can buy and sell popular digital currencies like Bitcoin and Ethereum directly. Funds are stored securely, it is possible to execute withdrawals or transfers at any time.
Rebalancing
There are robo-advisory services with automated portfolios based on your risk level, financial goals and time horizon. Your collections are monitored and rebalanced on their own to stay aligned with your strategy. Besides, the utility includes a cash account that earns high daily interest while maintaining full liquidity. Funds are held safely and can be withdrawn without penalties
Features
- possible to automate savings and investments by activating roundups or scheduling recurring deposits;
- supports TFSA, RRSP and other tax-advantaged account types;
- there are customizable portfolio suggestions based on goals;
- free to download and use;
- compatible with supported Android versions.
