Overview
With a self-directed investing account, you can trade thousands of Canadian and U.S. stocks and ETFs. There are no trading commissions, no account minimums, and everyone has access to real-time, on-demand quotes for all securities.
Eligibility criteria
You can buy or sell stocks, ETFs and select cryptocurrencies in a self-directed investing account as long as they meet our eligibility criteria. The stock or ETF must meet the following eligibility criteria:
- The asset is on an exchange we support (learn more).
- The asset meets our settlement or average daily volume requirements.
- The asset isn't delisted, suspended, or halted.
Choosing an order type
When you make an order in your trading account, you’re giving us instructions for how to trade a security on your behalf. There are four types of orders you can make within a trading account.
-
A market buy order (default)
Buy a stock immediately at the best available price. -
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.
Buy a stock or ETF
You can place an order to buy securities in your trading account by following the instructions below.
Note: The securities showcased are for illustration purposes only and are not recommendations.
- Log in to your Wealthsimple profile
- In the Search name or symbol field at the top of the page, type in the name of the stock or ETF you'd like to buy
- Select the stock or ETF you'd like to buy from the list
- Under Buy on the right side, select an Order type from the menu
- Fill out the required fields for the order type
- Choose the Account to buy the stock or ETF in
- Select Review
- Confirm your purchase by selecting Submit
- You'll see an Order submitted! message confirming your order was complete
Note: The securities showcased are for illustration purposes only and are not recommendations.
- Sign into the Wealthsimple app on your mobile device
- Tap the Discover (magnifying glass) 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
- Select your order type by selecting one of the options from the drop-down menu at the top of the screen
- Enter the number of shares you want to purchase, or tap Max to buy as many shares as you can afford
- Choose the account where you want to purchase your stock or ETF by selecting one of the options from the drop-down menu
- Tap Review
- Review the order details and tap Submit order
Buying a stock or ETF after the markets have closed
Markets are generally open from Monday to Friday between 9:30am – 4:00pm Eastern Standard Time (EST). The markets are closed on certain holidays.
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
Frequently asked questions
How long does it take for trades to settle?
Trades take one full business day to settle after they are made. This means your cash balance will be different from your Available to trade and Available to withdraw balances right after you sell a security. This settlement period is a requirement of the Canadian Depository for Securities, Ltd.
Why am I getting an error when I try to place an order?
You may have a negative cash balance in the account you're trying to place an order in. You must have enough settled cash in the account to place an order. Learn more about troubleshooting a negative cash balance.
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