Currently, the only way to move funds into your Wealthsimple Trade account is through the Electronic Funds Transfer (EFT) method and through institutional transfers. EFTs are where you link a chequing or savings bank account to your profile and submit a deposit request in the app. The maximum amount we can accept per EFT is $50,000. Institutional transfers can be initiated from the "Transfers" page in the app and involve moving an existing investment account you currently have at another institution over to Wealthsimple Trade!

We have a lot planned for this platform, so these lists may change over time! (This being said, we do not currently have timelines on which additional funding methods will be supported and when). 

Wealthsimple Trade currently supports the following methods of funding: 

• Electronic Funds Transfer (EFT) through a linked bank account (max $50K per deposit)
• Institutional transfers (moving existing investment accounts)

Wealthsimple Trade does not currently support the following methods of funding:

• Bill payment method (initiating a deposit from your bank account with your Trade account as the payee) 
• Deposits from Line of Credit accounts or Credit Cards
• Wire transfers*
• Mailing in of cheques 

*Note that if you wish to wire an amount greater than $50K our team may be able to make arrangements for a $30 fee. Please submit a request for more details. 

Wealthsimple now supports the ability to move cash between your Trade and Wealthsimple Crypto accounts.

Once you are signed into the app simply tap Funding and then Transfer Funds to request the internal transfer and the money should arrive in one business day.

We currently support the below transfer types:

• Transfer Types (with no holding period):
• TFSA ￫ Crypto, Personal
• Personal ￫ Crypto
• Crypto ￫ Personal

Transfers Types (with a 2 business day hold):

• TFSA ￫ RRSP
• Personal ￫ RRSP, TFSA
• Crypto ￫ RRSP, TFSA

Please note that at this time we do not support internal transfers from RRSPs. Please also note that transferring funds to accounts may carry tax and/or contribution implications.

As an internal risk control, new deposits take 5 business days to clear before they become eligible to be withdrawn or internally transferred.

We're not recommending or suggesting that you buy these or any other security, and you should always do your research to make informed investing decisions.

There could be a few reasons why a particular security you're searching for is not eligible to be traded or is not appearing in the app.

Can’t find the security you’re looking for?

Some securities may not be visible or available to trade. First, we recommend double-checking that you have the correct spelling of the company or symbol (it happens)!

If you'd like to request a stock that's not currently available on the Trade platform, please feel free to add it to the feedback survey below:

Wealthsimple Trade Stock and ETF Request Form

While the form doesn't guarantee we will add your requested securities to the platform, we'll monitor responses to help make the Trade experience better.

We're constantly updating which securities we support, so the list will likely grow over time. For more information on how to search for a stock or ETF, check out our article here.

The security is unavailable to trade

A security must meet Wealthsimple’s eligibility criteria to be available to trade. Below is an explanation of the messaging you may be seeing for ineligible securities.

This security type is not supported
Only stocks and ETFs are supported on Wealthsimple Trade. Any other security types are not currently supported (such as options, preferred shares, Mutual Funds, GICs, etc. - see a full list here).

This security isn’t listed on a supported exchange
We currently only support trading on these exchanges (NYSE, NASDAQ, TSX, TSX-V, and NEO). If the security you're looking for is listed on another exchange or is traded over-the-counter (OTC) you will be unable to purchase it on this platform. If the security is listed on both a US exchange and a Canadian exchange (i.e. it is a dual-listed security), we currently will only support the security listed on the Canadian exchange.

This security may not meet our settlement or average daily trading volume requirements
We only allow securities to be traded that settle with CDS (our clearing broker). We also impose minimum price and volume constraints for stocks traded on the platform.

The security is delisted, suspended, or halted
In most cases, orders can’t be submitted for securities that are delisted or suspended. Orders CAN be submitted for securities that are halted, however, they will not fill until trading resumes.

If you own a stock or ETF within your Trade account that is no longer supported, we'll still allow you to sell it as long as the stock has not been delisted and is still being traded (there can be other reasons we cannot sell a stock that are related to the eligibility criteria above or beyond our control). You'll just be unable to purchase additional shares.

Everyday Fee Schedule 

Below is a list of fees associated with normal day-to-day transactions. The only trading fee we charge is a currency exchange fee for USD trades of the daily corporate rate x 1.5% — most brokerages charge around 2% on top of this rate for currency conversion. 

*Please note that Wealthsimple Trade does not currently accept mailed cheques

By-request transactions or special & extenuating circumstance fees

The below list represents transactional fees that would only be incurred if the specified action were requested by the client and the request is approved by a Wealthsimple Trade representative. 

**If you wish to wire an amount greater than $50K our team may be able to make arrangements for the specified fee. Please submit a request for more details. 

***The ability to submit trade instructions via phone is available only in extenuating circumstances and can only be executed through Canadian ShareOwner Investment Inc.'s trade desk. Our Wealthsimple Trade Client Success team is not authorized to submit any trade orders on behalf of clients. 

Note: The above list of fees is accurate as of August 2, 2019. Fees or charges (excluding interest or commissions charged) will not be imposed or changed without 60 days written notice.

So glad you asked! Opening an account is really easy and can be done in a few short steps:

1. First, complete the online application. From our homepage, click “Get Started” and follow the prompts. You'll give us some basic information, answer a few questions about your previous investment experience and e-sign one or more Investment Management Agreements.
2. Bank verification: Verify and connect a bank account by securely authenticating your online banking. If you prefer, banking can always be verified manually by uploading a bank statement, screenshot of your bank account or void cheque.
3. Suitability call: Depending on your risk requirements, regulations require that you have what's called a “suitability call” with one of our Portfolio Managers. It's a short conversation about you, your investment goals and your previous investing experience to make sure we're doing what's best for you.
4. That's it! Your account should be up and running in less than 5 business days.

If you get stuck and need a little help, please give our Relationship Management team a call at 1-(855) 255-9038 or create a request.

We do our best to keep all our articles up-to-date, but the information on this page is subject to change at any time, without notice. If you have questions, you can view our article on money movement here or reach out to our team.

There are 3 easy ways to fund your Wealthsimple account:

1. One-time transfer from a chequing account: A one-time transfer of funds from your bank account to your Wealthsimple account. Once initiated, we will pull the requested amount for your bank account on file and will deposit it into the specified Wealthsimple account. 
2. Automatic recurring deposits: A certain amount of money is automatically withdrawn from your chequing account and contributed to your Wealthsimple account on a regular basis. The timeframe is up to you and we can help you set up weekly, bi-weekly, or monthly contributions.
3. Transferring an existing investment account: First, make sure you have the specific account type (RRSP, TFSA, etc.) open with Wealthsimple. Then you can transfer an existing account from another institution to Wealthsimple. 

You can find more information on how long these options take, here. 

Click the links above for a step-by-step guide on how to complete your transaction. If you have any questions or need help funding your Wealthsimple account, please create a request for our Relationship Management team.

You can make a one time deposit into your Wealthsimple account by choosing "Just this once" in the frequency section of the Move Funds page. 

How do I set one up?

From the website
1. Login to your Wealthsimple account
2. Click the 'Move funds' button
3. Select the bank account you would like to transfer funds out of
4. Select the Wealthsimple account you would like to transfer funds into
5. Enter the amount you'd like to transfer
6. Schedule the frequency of the transfer (if this a one-time contribution select "Just this once")
7. Choose a date for the transaction
8. Click 'Submit deposit' and you're done! 

You can initiate a one-time transfer of funds from your bank account to your Wealthsimple account in just a few minutes by following these steps:

From a desktop

1. Login to your Wealthsimple account
2. Click the 'Move funds' button.
3. Select the bank account you would like to transfer funds out of
4. Select the Wealthsimple account you would like to transfer funds into
5. Enter the amount you'd like to transfer
6. Schedule the frequency of the transfer (if this a one-time contribution select "Just this once")
7. Choose a date for the transaction
8. Click 'Submit deposit'

From the app

1. From your Wealthsimple account click the 'Move funds' button
2. Select the "Add or move funds" option from the list
3. Select if you would like this to be a one-time or automated deposit.
4. Enter the amount you'd like to deposit to your Wealthsimple account and schedule the frequency of the transfer (if this an automated deposit).
5. Select the Wealthsimple account you would like to transfer funds into
6. Select the bank account you would to transfer funds out of
7. Select the date for the transfer to start
8. Finally, click the 'Submit' button

PAC stands for "Pre-Authorized Contribution" plan. Under this plan, a certain amount of money is automatically withdrawn from a linked chequing or savings account and contributed to your Wealthsimple account on a regular basis. You can set up auto-deposits on a weekly, bi-weekly, or monthly basis.

How do I set up a recurring auto-deposit?

1. Login to your Wealthsimple account
2. Click the 'Move funds' button
3. Select the bank account you would like to transfer funds out of
4. Select the Wealthsimple account you would like to transfer funds into
5. Enter the amount you'd like to transfer
6. Schedule the frequency of the transfer (if this a one-time contribution select "Just this once")
7. Choose a date for the transaction
8. Click 'Submit deposit'

You can change your plan at any time by simply cancelling your existing PAC from the “Activities” page, then navigating to the "Move funds" tab to set up a new PAC.

Wealthsimple uses a secure service to verify your bank account information. It's the quickest way to safely link your bank account to your Wealthsimple account.

To add a new bank account, log in to Wealthsimple, go to the “Move funds” tab and click “Add a new bank account, under the "From" account dropdown. You'll be asked to select your bank and enter your online banking details. If you're new to Wealthsimple, you'll be prompted to do this when setting up your profile.

If your bank isn't listed or if you'd prefer to verify your bank account manually, please click here for step-by-step instructions on how to do that.

We do our best to keep all our articles up-to-date, but the information on this page is subject to change at any time, without notice. If you have questions about how long it takes to deposit, transfer, withdrawal or trade your funds, you can view our article on money movement or reach out to our team.

You can transfer an existing investment account (ie. RRSP, TFSA, Personal, etc.) from another institution by following the below steps. We also recommend checking out our guide to learn how you can prevent your transfer from being rejected.

Instructions to transfer from your desktop:

1. Navigate to the "Move funds" page while signed in to your Wealthsimple Invest account.
2. Click "Transfer an account".
3. Follow the prompts to fill out details associated with the account at your current institution.
3.1 Note: If you're unable to find your institution after typing it into the search bar, please click "I don't see my financial institution" and fill in the institution name manually. You may then see the following prompt: "This institution does not support electronic transfers. To continue, please confirm this is the correct institution name." Feel free to click "Yes, it's correct" in order to move forward in the set-up process.
4. You'll be asked whether you want to transfer your investments “as cash” or “as is.” There can be fees associated with how you transfer your investments, so it's important to understand what the options are. You can read more about that here.
5. The final step will be to digitally sign off on your transfer request!
6. We'll take it from here and will reach out if anything further is required from you in order for us to complete the transfer request!

Which accounts can I transfer?

You can transfer your Registered Pension Plan (RPP), Defined Contribution Pension Plan (DCPP), and Deferred Profit Sharing Plan (DPSP) to your Wealthsimple account so long as your employer is no longer making contributions to the plan. If you are unsure about if you can transfer your account to Wealthsimple, please contact us so that we can help out!

Do I transfer to an RRSP or LIRA?

If the funds in your employer plan are "locked in" they'll need to be transferred into a Wealthsimple LIRA account. You can open a new LIRA on the Add Account Page. You will want to ensure that the jurisdiction of the LIRA you open at Wealthsimple is the same as your existing account holding your pension funds. If the funds aren't locked in, they can be transferred into your RRSP.

What transfer documents do I need to complete?

If you are going to be initiating the transfer on your end, all the information required for a pension transfer should be outlined in a pension transfer package you may have received from your employer. If you haven't received a pension transfer package please contact your employer to request this package. If they don't provide you with a package, we can move forward using a T2151 form. The T2151 form is the transfer form specifically for pension transfers, which is attached to the bottom of this article can be completed using the information below.

If your employer doesn't provide a transfer package and specifies that you don't require a T2151 you can complete your transfer by following this guide.

Important details to help you complete the transfer documents:

Make sure to list "Canadian ShareOwner Investments" as the receiving institution. This is our back office. Their information is as follows if needed:

Name of Receiving Institution: Canadian Shareowner Investments Inc
Address: 241 Spadina Avenue, 3rd Floor, Toronto, ON, M5T 2E2
Specimen Plan Number/CRA Registration Number: RSP 521-145

Your CRA registration number can be found on your statement as well as your plan number.

Note: if you are completing the T2151 and are transferring into a LIRA, in Part D, please select the first option on the left. Then on the line that reads "RRSP plan number and name" please put your Wealthsimple LIRA account number followed by "LIRA".

You can find the account number for your LIRA or RRSP at any time in the My Documents section of our website. They are listed in each of your trade confirmations, monthly statements, and Investor Policy Statement. 

If you require any further assistance with this process please contact us.

Absolutely! Also referred to as “Two-Factor Authentication” (2FA), Wealthsimple proudly supports the ability for you to activate this extra layer of security on your profile. Want to learn more about what Two-Step Verification is? Check out our FAQ here, or our magazine article here.

You can activate Two-Step Verification from both your Wealthsimple app as well as your Wealthsimple profile online. Please note that you will need either a cell phone or smartphone in order to activate Two-Step Verification.

To activate Two-Step Verification from your app, tap the small cog icon in the top-right corner of your screen and select “Security” from the list of options. From there you should see the option to begin activating your Two-Step Verification.

To activate Two-Step Verification from your profile online, click your name in the top-right corner of the screen and select “Settings” from the dropdown menu. On the “Settings” page select the “Security” tab. On this tab you will find the option to activate Two-Step Verification.

While activating Two-Step Verification, you'll be asked to choose which method you'd like to receive your verification through - via text (SMS message) or an app (like Authy or Google Authenticator). Select the method you prefer!

You'll also be given a Recovery Code - write this down for safe keeping. In the unfortunate event that you either lose your phone or it is stolen, you would no longer be able to access your account as you would no longer have the ability to receive your verification code. This is where your Recovery Code comes in - this code will grant you one-time access to your Wealthsimple profile so you can reset the Two-Step Verification using your new phone.