With a self-directed trading 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.
Buy a stock or ETF
You can place an order to buy securities in your trading account by following the instructions below.
- Log into my.wealthsimple.com and sign in to your Stocks, ETFs & 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 Wealthsimple app on your mobile device
- Tap the Discover tab (Search icon) 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
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. 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.
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 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.