Recurring investments help you make a habit out of investing by automatically purchasing a particular stock, ETF, or crypto asset on a specific schedule that you choose. 

How it works

Choosing your security and dollar amount
When you set up a recurring investment, you will first choose a dollar amount and a security or crypto asset that you want to invest in on an ongoing basis. Recurring investments use fractional orders, however, all crypto coins are available. This means that your dollar amount can be smaller than the price of a single share of the security you want to invest in. 

After setting a dollar amount, you will then go on to choose a frequency. This will determine how often you invest your designated dollar amount into the particular security or crypto asset. Frequencies must be set to daily, weekly, bi-weekly, or monthly. 

Once you set up your recurring investment, we will automatically invest funds from your selected source in your chosen security and at your selected frequency. 

Selecting the source of your funds
Finally, you will select a funding source. To fund your recurring investment, you can:

• Use the funds available in your Cash account. When using the Cash account as your primary funding source, you benefit by earning 3.25% or more interest on your money while it is waiting to be invested.
• Use the cash from your trading account's available to trade balance
• Use an external bank account as the source of funds

Set up a recurring investment

To set up a recurring investment on your profile, follow these steps:

1. Log in to your Wealthsimple mobile app
2. Tap the Search tab at the bottom of your screen
3. Search for your desired security and select it
4. Tap Buy
5. In the top left corner, tap the order type menu and select Recurring
6. Enter an amount
7. Choose a Start date by selecting the date
8. Tap Frequency to select a frequency
9. Choose your funding source
10. Select the account you want to purchase the security in
11. Tap Review
12. Review your details and Confirm plan to set up your recurring investment

Nothing is preventing you from setting up a recurring investment with the start date being the current date. However, we can't guarantee that your order will be executed on the same day. It's preferred we have a 24-hour buffer from the time that your order is placed, which is why we default to the following business day.

When does my recurring investment go through?
Recurring investment orders are placed starting in the afternoon of your selected start date and will continue at your chosen frequency (daily, weekly, bi-weekly, or monthly) until you choose to cancel or pause the investment.

Manage your recurring investments

To view or manage your existing recurring investments, follow these steps:

1. Log in to your Wealthsimple mobile app
2. Tap the profile icon in the top right corner
3. Tap the gear icon in the top right corner
4. Select the Automations menu item
5. Tap on Recurring investments
6. Here you can see all of your existing recurring investments
7. If you click on a recurring investment, you can either pause or cancel. If you have paused it, you can unpause it in the same way.

Cancel a recurring investment 

To ensure you cancel your next recurring investment, you must submit your cancellation request at least 24 hours before the next scheduled investment. Otherwise, your cancellation request will not process until the following scheduled investment. 

To cancel a recurring investment, follow these steps: 

1. Log in to your Wealthsimple mobile app.
2. Tap the profile icon at the top right of your screen.
3. Tap the Settings (gear) icon in the top right corner. 
4. Select the Automations menu item
5. Tap on Recurring investments
6. Select the recurring investment that you wish to cancel
7. Tap Cancel recurring investment
8. Confirm by tapping Yes, cancel