If you want to move money from one Type of Wealthsimple account to another—say from your stocks and ETF account to either your managed investing (robo-advisor) account or your crypto account—it’s quick and easy to do this from within the Wealthsimple app.
What can you trade with Wealthsimple Trade?
Wealthsimple currently supports stocks and ETF trades from the largest stock exchanges in North America. That includes the Toronto Stock Exchange (TSX), New York Stock Exchange (NYSE), TSX Venture Exchange (TSVX), NASDAQ, Cboe and Canadian Securities Exchange (CSE). There are also limited securities available on the BATS Exchange.
Your investment portfolio needn’t have a U.S. or Canadian bias. You’ll have access to ETFs listed on the above-mentioned exchanges which invest in various parts of the world, including Asia and Europe. Since most ETFs are broad based and track a particular stock index, you’ll be able to gain investment exposure to global equities in a simple, efficient and cost-effective manner.
If you’re taking a passive, long-term approach to investing, you can access iShares and Vanguard ETFs and build an ideal “couch potato” investment portfolio—for an extremely low cost. You’ll just have to pay the management expense ratio (MER) of the ETF(s) you’re invested in. For example, the current MER of the VFV (Vanguard’s S&P 500 Index ETF for Canada) is a mere 0.09%. If you want to take a more active approach to your investments, or if you’re looking to diversify your portfolio, you can buy everything from emerging-market ETFs to cryptocurrency ETFs.
While you can buy ETFs that invest in global stocks, you can’t actually buy individual stocks outside of those available of the major U.S. and Canada exchanges. So, you can’t, for example, buy individual stocks from the likes of the Bombay Stock Exchange (BSE) or the Hong Kong Stock Exchange (HKG). Apart from ETFs that track various other countries or regions, there are hundreds of American depositary receipts (ADRs) of global companies that are traded on U.S. exchanges. And there are non-U.S. companies that inter-list their stocks on U.S. stock exchanges, such as Toyota and AstraZeneca.
How to buy stocks and ETFs on Wealthsimple Trade
Buying stocks and ETFs on Wealthsimple Trade is as easy as it gets. Simply log into your account, search the stock by name or its three- or four-letter ticker symbol and select the security you’d like to buy. Then choose the account in which you want to buy it. That could be a RRSP, TFSA or personal account. Then select your preferred type of buy order, whether it’s market, fractional, limit or stop-limit.
A market order is an immediate buy in which the trade is executed at the best available price on the market at that moment. A fractional order is for fractional shares only and is put through at the end of the day (or next available trading day). And limit and stop-limit orders allow you to set in advance the maximum price you’re willing to pay for the security.
Next enter the number of shares you’d like to buy, click “buy,” review your order and select “place order.” And you’re done!
Read the full article here
Discussion about this post