With Wealthsimple Trade, you can buy thousands of stocks and exchange-traded funds (ETFs) on major Canadian and U.S. exchanges. There are no trading commissions and no account minimums.
If you wish to buy a stock or ETF, you can do so by following the instructions below. If you don’t see the stock or ETF you’re looking for, it might be because the security is not available to trade.
Buy a stock or ETF
- Log into my.wealthsimple.com and sign in to your Trade & Crypto profile
- Next to the magnifying glass icon at the top of the page, type in the name or the symbol of the security you'd like to buy
- Select the security you'd like to buy
- Under Place an order on the right-hand side select the account from which to draw funds
- Choose an order type from the dropdown menu
- Enter the number of shares you'd like to buy
- Click Buy
- Review the order details and select Place Order
- Sign into the Trade app on your mobile device
- Tap the Discover tab at the bottom of the screen
- Type in the name of the stock or ETF you'd like to buy in the search bar and select it from the list
- Tap Buy
- Choose your desired account and tap Next
- Choose the type of order you wish to place by selecting one of the options from the drop-down menu at the top centre of your screen
- Enter the number of shares you'd like to buy and tap Continue
- Review the order details and tap Confirm order
Note: If you don't see a Discover tab at the bottom of your screen, please update the Trade app.
Choosing an order type
When you make an order on Wealthsimple Trade, you’re giving us instructions for how to trade a security on your behalf. There are four types of orders you can make with Wealthsimple Trade.
- A market buy order (default)
Buy a stock immediately at the best available price. We submit your order using a real-time quote with a 5% collar. This is to protect you from spending more than 5% over the quoted price when you buy a stock outside of trading hours.
- A fractional buy order
Buy a fraction of a share for certain stocks. Your order will be executed at the end of the trading day or next available trading day.
- A limit buy order
Choose a maximum price you're willing to pay to buy a stock.
- A stop-limit buy order
Choose a stop price and a limit price. Once a stock hits the stop price, your order will get converted to a limit order. People often use stop limit orders to try and limit losses or protect gains.
How up-to-date are the quotes I’m seeing?
The market price quotes you see in the Wealthsimple Trade app are delayed by up to 15 minutes. For example, if you're looking at the quote for a particular stock at 1:15pm you could be seeing a quote that is as far back as 1:00pm, and at 1:16pm it could be as far back as 1:01pm (and so on and so forth).
This 15-minute delay also applies to orders submitted when the market opens at 9:30am. Orders submitted during the first 15 minutes of the market opening will use the previous day's quotes until we receive the newest quotes at 9:45am.
Buying a stock or ETF after the markets have closed
It’s possible to create an order outside of these times. Any orders created outside of market hours go into a queue that gets submitted when the market opens again. For example:
- You submit a market order to buy 5 shares of XYZ stock on Wednesday at 8:00 pm (EST)
- The order will get executed when the markets open on Thursday at 9:30 am (EST)
- Any fractional orders will be executed at the end of the next trading day
How long does it take for trades to settle?
Trades take two full business days to settle after they have been made. This is a requirement of the Canadian Depository for Securities, Ltd.
Frequently asked questions
- What’s the difference between market, fractional, limit, and stop limit orders?
- Why did my order fill at a different price than expected?
- Why did my market order expire?
- Why did my limit order expire?
- Is it possible to day trade?
- What are the considerations for holding and trading assets in a TFSA?