You can place an order to sell holdings in your trading account by following the instructions below.
- Log into my.wealthsimple.com and sign in to your Stocks, ETFs & Crypto profile
- Select your desired account
- Scroll down and click on the stock or ETF in your portfolio you'd like to sell
- On the right-hand side under Place an order, toggle to Sell
- Choose your order type and number of shares you wish to sell
- Click Sell
- Review the sale details and click Confirm order
- Sign into the Wealthsimple app on your mobile device
- Scroll down to My accounts
- Choose your desired account
- Scroll down and tap on the stock or ETF in your portfolio you'd like to sell
- Tap Sell
- Select your desired order type from the drop-down menu located at the top center of your screen
- Enter the number of shares you’d like to sell. For assets eligible for fractional trading, you can specify a cash value instead
- Select the account you want to sell your assets from
- Tap Review
- Review the sale details and Submit order
Choosing an order type
When you make an order on Wealthsimple, you’re giving us instructions on how to trade a security on your behalf. There are four types of orders you can make with Wealthsimple.
A market sell order (default)
Sell 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 losing more than 5% over the quoted price when you sell a stock outside of trading hours.
A fractional sell order
Sell 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 sell order
Choose a minimum price you're willing to sell a security for.
A stop-limit sell 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?
Wealthsimple offers real-time, on-demand quotes for all securities.
Selling 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 sell 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.