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Why are these big name investing apps using the gambling playbook to lure clients?

Why are these big name investing apps using the gambling playbook to lure clients?

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The TD Easy Trade app is an excellent way to invest if you are a finance rookie, care about minimizing fees or appreciate a quick, clean way to manage your portfolio on your smartphone.

But a recent revamp of TD Easy Trade is problematic. In bumping up the number of free trades per year to 100 from 50, this app reinforces the idea that trading equals investing success. The truth is that trading a lot is like gambling, a once fringy activity that is malignantly forcing itself into the mainstream.

Another example of gambling’s emerging influence in the DIY investing world is seen in recent developments at Wealthsimple, Canada’s foremost disruptor of big-bank dominance.

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