Is there a day-trading limit on your RRSP on WealthSimple?

Asked 4 years ago

Hello Everybody, To those who have invested in the RRSP with WS: Can you tell me how it works and whether there is a day-trading limit for buying and selling stocks? Thanks.

Registered retirement savings plan (rrsp)Wealthsimple Buying stocks Selling stocks

Andrew Moran

Monday, June 28, 2021

On WealthSimple, there is no day-trading limit.
Assets are available right away to sell after being purchased. When stocks are sold, the funds can be used toward a new purchase immediately.
In Canada, there is no day-trading minimum. In some cases, though, brokers might require investors to adhere to the $25,000 rule from the U.S. if they are purchasing securities that settle in the U.S.
Of course, since this is an RRSP you are talking about, be sure you know your contribution limit (maximum $27,830 in 2021).