Wealthsimple announces futures contract launches, benefits for active traders 

Wealthsimple Inc. is expanding its platform to give users access to more trading tools, including futures contracts with $0 market data fees and a new trading interface.  

The Toronto-headquartered fintech announced the new features at an event Thursday evening.  

Its futures contracts are currently in beta testing but will become widely available this summer. Users will be able to trade futures on indices, commodities and crypto at a price of $1 per contract and $0 market data fees. An education hub and in-app tutorials will accompany the launch, providing users with foundational knowledge of futures trading before they get started.  

Wealthsimple is rolling out futures to respond to client demand and because “they give you the purest exposure to a lot of the markets and assets that are really important right now, like gold [and] oil,” said Matthew Karasz, the company’s senior director of product, investing, in an interview.  

The company confirmed that it received regulatory approval to launch futures and forecast contracts earlier this year. It has not yet announced any forecast contract launches. 

The company also announced a new trading interface called Trade Plus that’s built into Wealthsimple’s web platform. It features advanced charting and on-chart trading execution. The new interface also allows users to manage their stocks and options all on one screen. 

Further, this month Wealthsimple is going to introduce benefits for active traders including early beta access, a 3% transfer match for clients making 50 or more trades per month and access to a dedicated investment rep who can place trades on their behalf at no cost. 

The company added that it’s expanded its options trading platform, which features $0 trade commissions and contract fees, U.S.-listed options on Canadian companies and naked puts and calls, among other features.  

An Angus Reid and Wealthsimple poll of 1,000 Canadian investors found that about one in five (21%) have used options trading in the past 12 months. It also found that 43% of DIY investors who haven’t used futures trading and 46% of those who haven’t used options trading have researched them, indicating a desire to learn more about advanced trading tools.

Wealthsimple’s assets under administration reached $100 billion last year. 

Noushin Ziafati

Noushin has been the associate editor of Advisor.ca since 2024. Previously, she worked at outlets including the CBC, Canadian Press, CTV News, Telegraph-Journal and Chronicle Herald. Reach her at noushin@newcom.ca.