If you’ve got some extra cash, here’s how to invest it for free

Buy and trade shares from your phone with no fees or commissions.

Twenty20

We adhere to strict standards of editorial integrity to help you make decisions with confidence. Please be aware that some (or all) products and services linked in this article are from our sponsors.

By Shane Murphy Mar. 02, 2021

Many people find investing intimidating, some even think you need thousands of dollars and a stock broker just to get started.

Thanks to an app called Wealthsimple, you can start investing all on your own with as little as $1.

Easy no-fee investing

Wealthsimple Trade is super easy to use. Just download the app, or sign up on the website, and fill out an application form.

Once signed up, you can transfer funds to your account and start investing right away.

Wealthsimple lets you buy and trade stocks, exchange-traded funds (ETFs) and even cryptocurrencies, so you’ll be able to invest in whatever you’re into — all without paying a cent in commission.

Plus, you can choose to invest through a TFSA or RRSP, helping you save even more money on taxes.

Industry-leading tools, tailored to your level of investment experience

Sign up now and collect $50

When you sign up for Wealthsimple Trade and invest $150 within the first 45 days, your account will get a free $50 bonus to boost your investments.

You don’t need to worry about any extra steps — deposit, invest and you're set.

Wealthsimple makes trading stocks, and even crypto, easy. So set up an account and start investing today.

Invest with ease

From new investors to experts, Qtrade Direct Investing™ offers an intuitive experience with features including in-depth research and powerful tools.

Recognized by The Globe and Mail as a top-ranked broker for the 4th year in a row, you can count on Canada’s best online trading support for friendly and responsive client service and online self-help.

Get started today with no minimum investment and now get up to $150 sign-up bonus until June 30, 2023 with promo code BONUS150.

Division of Credential Qtrade Securities Inc.

What to Read Next

How much does it cost to keep up with the Joneses?

Don't let glamorous pictures lead you into debt.

By James Battiston

Bad with money? It could be from childhood trauma

Here's how your mental health can affect your finances, and vice versa.

By Dina Al-Shibeeb

The Best and Worst Times to Sell Your Home

Getting the best price depends on many factors, such as the season and even specific months. Here’s why.

By Sarah Cunnane

Lawyers are making big money off homemade wills

Wills in Canada don’t need much to be legal, but that doesn’t make them bulletproof.

By Sigrid Forberg

Disclaimer

The content provided on Moneywise is information to help users become financially literate. It is neither tax nor legal advice, is not intended to be relied upon as a forecast, research or investment advice, and is not a recommendation, offer or solicitation to buy or sell any securities or to adopt any investment strategy. Tax, investment and all other decisions should be made, as appropriate, only with guidance from a qualified professional. We make no representation or warranty of any kind, either express or implied, with respect to the data provided, the timeliness thereof, the results to be obtained by the use thereof or any other matter.