Yes, now you can trade options through the Wealthsimple platform. Options trading is only available on the latest version of the Wealthsimple mobile app in your DIY accounts. You'll be able to buy or sell options in any of your self-directed trading accounts through the Wealthsimple mobile app. The best part is, there is no minimum account balance required.
An option is a contract giving you the right (but not an obligation) of buying or selling a stock at a specific price by a certain date.
Great News! Wealthsimple has taken the initiative to allow Option Trading on its platform thereby making it simpler for traders to earn more money.
Wealthsimple has kept the options pricing flat, starting at just $2 USD per contract.
Wealthsimple is an online investment and trading platform that has its presence in Canada since 2014. It offers investment accounts for individuals, corporations, partnership firms and unincorporated organizations. It is under the Investment Industry Regulatory Organization of Canada (IIROC). The company’s funds are also insured under Canadian Investor Protection Fund (CIPF).
Wealthsimple offers the following investment accounts:
Here is a list of products that Wealthsimple offers:
A robot advisor where you are required to fil up a questionnaire. The robot analyses your risk tolerance, investment timeframe, goals and objectives and invests your funds in a default portfolio that is best suited to you.
This is used for manual trading. People who are experts in trading can use this to invest and trade in financial instruments.
is a high interest savings account that offers competitive interest rates whilst being liquid.
is where you can own cryptocurrency. Wealth simple is the first regulated platform that offers fifty plus crypto options such as bitcoins, Ethereum, dogecoin etc.,
This is used for automated tax filing services.
Options are financial derivatives, and their value is derived from their underlying assets. A Call Option is where the owner has the right to buy the underlying asset at the strike price. A Put Option gives the owner the right to sell the underlying asset to sell at strike price. Both options must be implemented before the expiry date.
Wealthsimple has started offering Option trading for its account holders to own, invest or trade options.