In this article:
Overview
With a self-directed investing account, you can buy and sell thousands of stocks, options, and exchange-traded funds (ETFs) on major Canadian and U.S. exchanges.
Key features of self-directed investing include:
- Fully autonomous trading. Select the stocks you want to buy and sell.
- Trade when you want. Place an extended-hours trading order outside of market hours.
- Automate your investments. Set up recurring investments to stay consistent.
Fees
Self-directed investing accounts have no fees or trading commissions for buying and selling stocks. Currency conversion fees apply to USD investments. Learn more about fees for self-directed investing accounts.
How to open a self-directed investing account
Follow these steps to get started with self-directed investing:
- Sign in to the Wealthsimple app on your mobile device
- From the Home tab, scroll down and tap Add or move account
- Tap Open a new account
- Choose an eligible account from the account options menu
- Select Stocks, options, and ETFs
- Follow the prompts to open a self-directed investing account
- Log in to your Wealthsimple account
- Select + Add an account from the Home page
- Select the Investing tab
- Choose an eligible account from the account options menu
- Follow the prompts to open your self-directed investing account
Eligible account types
You can open a self-directed investing account with the account types below:
- Tax-Free Savings Account (TFSA)
- First Home Saving Account (FHSA)
- Registered Retirement Savings Plan (RRSP)
- Registered Retirement Income Fund (RRIF)
- Locked-in Retirement Account (LIRA)
- Life Income Fund (LIF)
- Registered Education Savings Plan (RESP)
- Non-registered
- Corporate
Frequently asked questions
Please check out our frequently asked questions to learn more about self-directed investing.
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