What is day trading?

Day trading refers to the practice of buying and selling the same security within a single trading day. At Wealthsimple, you can day trade as assets are immediately available to sell after being purchased. When you sell an asset, the proceeds are available to use towards a new purchase right away.

Keep in mind

• If you're not a USD accounts subscriber, you'll be charged a currency conversion fee on all trades (buys and sells) for U.S.-denominated assets in your trading accounts.
• There can be tax implications associated with day trading in all account types, including RRSPs and TFSAs. If you're considering day trading, we recommend speaking with a tax specialist to understand any potential implications.

Inappropriate trading

As a member firm of the Canadian Investment Regulatory Organization (CIRO), Wealthsimple reserves the right to monitor trading activity and block transactions at our discretion if the trading activity is determined to be inappropriate.

There is no set threshold or a number of trades that would be considered “inappropriate”. The expectation is that you're using the platform for its intended use which is investing in stocks and ETFs without the use of electronic aids (such as APIs, algorithms, and more).