Is it possible to day trade?

Day-trading is not generally encouraged on our platform, however, it is technically possible to do so using Wealthsimple Trade. Once purchased, assets are immediately available to sell, and when an asset is sold, the proceeds are available to use right away.

It is important to keep in mind that the quotes offered via Wealthsimple Trade are 15 minutes delayed and that we charge a currency conversion fee on all trades (buys and sells) for US-denominated assets.

As a member firm of the Investment Industry Regulatory Organization of Canada (IIROC), Wealthsimple Trade reserves the right to monitor trading activity and block transactions at our discretion if the trading activity is determined to be inappropriate. Please note that there is no set threshold or a number of trades that would be considered ‘inappropriate’ in this case. The expectation is that clients are using the platform for its intended use - i.e. investing in stocks and ETFs without the use of electronic aids (such as APIs, Algorithms, etc.) and based on their own research.

Please note that there can be tax implications associated with day-trading in all account types. If you are considering day-trading on our platform, or in general, we recommend speaking with a tax specialist to understand any potential implications.