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 —
- 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 magnifying glass icon in the top right corner of your screen
- Type in the name or the symbol of the security you'd like to buy
- Tap Buy
- Select the account from which to draw funds
- Tap Next
- Enter the number of shares you'd like to buy and choose an order type from the dropdown menu at the top of the screen
- Tap Continue
- Review the order details and tap Confirm order
Note: If you don’t see the stock or ETF you’re looking for, it might be because the security is not available to trade.
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 three types of orders you can make with Wealthsimple Trade.
- A market buy order (default)
Buy a stock immediately at the best available price. If the live price of a stock increases more than 5% during the 15 minute delay window, we may cancel the order on your behalf. This is to protect you from spending more than 5% over the quoted 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.
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.
Accessing real-time quotes
Wealthsimple Trade offers real-time, on-demand quotes for all securities when you upgrade to premium features. This feature is called snap quotes, as it’s a snapshot of market data at the time you request a quote. Once you've upgraded your account, you can get a snap quote by opening any stock or ETF and tapping Update price.
Note: You won’t be able to request a snap quote after-hours (after 4:00pm) or pre-market (before 9:30am).
What to expect
- Since there is a 15 minute delay between the price of a security in Wealthsimple Trade and the market price when an order gets submitted, your market order may fill at a different price than expected.
- A snap quote does not guarantee your market order at the price shown.
- Your order will be executed at the best available price. Our executing brokers are obligated by law to provide you with the best possible price.
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
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?