How to Automate XEQT on Wealthsimple (Canada)
If you want a low-stress investing routine, automation is your edge. This guide shows Canadians how to connect recurring deposits, recurring XEQT buys, and a simple quarterly review.
Disclosure: I may receive a referral bonus if you sign up.
Open Wealthsimple and set up your automation
Start with the referral link first so bonus tracking is attached before your first qualifying deposit.
Get Your $25 BonusKey takeaways
- Automation works best when your buy schedule matches your pay cycle.
- Keep it simple: one account, one ETF, one routine.
- Review quarterly, not daily.
- Confirm campaign details, bonus amount, and timelines in-app (verify).
Step-by-step setup
1) Choose your primary account
Start with one account (TFSA, RRSP, or FHSA depending on your goals and room). Keep your first system simple.
2) Turn on recurring deposits
Set auto-deposits from your bank on a weekly, biweekly, or monthly cadence.
3) Enable recurring XEQT buys
Link your deposits to recurring XEQT purchases so cash doesn’t sit idle.
4) Set your dividend rule
Use automatic dividend reinvestment if available for your setup, or redeploy dividends manually on a fixed monthly schedule.
5) Add behavior guardrails
- Mute unnecessary price alerts.
- Add a note in your phone: “No changes unless my goal changes.”
- Use a quarterly review checklist.
Common mistakes to avoid
- Depositing inconsistently and trying to “catch up” with big emotional trades.
- Changing ETF strategy after every headline.
- Missing contribution room checks for registered accounts (verify).
Already have an account?
Set your recurring deposit first, then recurring XEQT buy in the same session.
Internal resources
- Wealthsimple for Beginners (Canada): Start in 15 Minutes
- Wealthsimple Account Types for XEQT: TFSA vs RRSP vs FHSA vs Non-Registered
- Dollar Cost Averaging in Canada: The Simple Strategy to Build Wealth
- What to Do with XEQT Dividend: 5 Smart Strategies for Canadian Investors
FAQ
Is automation better than manual buying?
For many beginners, yes—because consistency beats perfect timing.
Weekly or monthly recurring buys?
Use the cadence you can maintain through both bull and bear markets.
Can I automate in a TFSA?
Yes, if features are available in your account. Track contribution room carefully (verify).
Final word
A boring system usually wins. Automate your XEQT process, then spend your time on income growth and savings rate.