How to Buy XEQT ETF in Canada: A Step-by-Step Guide
You can buy XEQT through any Canadian self-directed brokerage with access to the TSX. The fastest route is Wealthsimple (under 10 minutes to your first trade, $0 commission). The cheapest route is identical, since most major brokerages now charge $0 to trade Canadian ETFs.
What Is XEQT?
XEQT (iShares Core Equity ETF Portfolio) is BlackRock's all-in-one global equity ETF listed on the TSX. It holds four underlying iShares index funds covering Canadian, US, international, and emerging market stocks in a single ticker. The MER is 0.20%, making it one of the lowest-cost ways to own a globally diversified equity portfolio in Canada.
It's 100% equities with no bond allocation, which distinguishes it from balanced alternatives like XBAL (60/40) or XGRO (80/20). If your time horizon is long and your risk tolerance is high, XEQT is the one-ticket solution most often recommended in Canadian personal finance circles.
Which Broker Should You Use to Buy XEQT?
Every Canadian brokerage sells XEQT. The real question is which one costs you the least and gets you trading fastest:
For XEQT specifically, Wealthsimple and Questrade are the two strongest picks. Both charge $0 commissions on Canadian ETFs. Wealthsimple wins on speed and simplicity. Questrade wins on research tools and platform depth. See our full broker comparison table for the complete breakdown.
If you're already with a Big Bank brokerage and only buying XEQT occasionally, the $6.95-$9.99 commission is annoying but not devastating on larger purchases. On a $5,000 buy, a $9.99 fee is 0.2%, which washes out quickly. On a $200 monthly contribution, it's 5%, which is brutal. Small recurring purchases belong at a commission-free broker.
How to Buy XEQT: Step by Step
1. Open a self-directed brokerage account. Choose a broker from the table above. You'll need your SIN, a piece of government ID, and a Canadian bank account for funding. Wealthsimple can have you verified and funded in minutes. Most others take 1-3 business days.
2. Pick your account type. For most Canadians, a TFSA is the best starting point for XEQT, since all growth and dividends are tax-free. If you've maxed your TFSA, an RRSP makes sense for tax-deferred growth (especially if you're in a higher tax bracket). An FHSA works if you're saving for a first home. Not sure which account fits? Our guide to choosing a broker covers this in more detail.
3. Fund your account. Transfer money from your bank. Wealthsimple offers instant deposits up to $50K. Most other brokers take 1-2 business days via EFT.
4. Search for XEQT. Use the ticker symbol XEQT in your broker's search bar. Make sure you're buying on the TSX (Toronto Stock Exchange), not a US-listed variant.
5. Place a market or limit order. A market order fills immediately at the current price. A limit order lets you set a maximum price. For a highly liquid ETF like XEQT, a market order during regular trading hours (9:30 AM - 4:00 PM ET) is fine. If you want tighter control, set a limit order at or just above the current ask price.
6. Set up recurring buys (optional). If you're dollar-cost averaging into XEQT monthly, Wealthsimple and Questrade both support automatic recurring purchases. This removes the temptation to time the market.
Should You Set Up a DRIP for XEQT?
XEQT pays a small quarterly distribution (its yield is modest since it's equity-focused). Enrolling in a DRIP automatically reinvests those distributions back into more units. Most Canadian brokerages support traditional DRIP for XEQT. Wealthsimple offers a synthetic DRIP that buys fractional shares from dividend cash at the account level, with no transaction fees and no price discount.
If you're in a TFSA or RRSP, DRIP is a no-brainer. It keeps your money compounding without any tax event.
The Bottom Line
Buying XEQT is one of the simplest things you can do as a Canadian investor. Open a commission-free account, pick your registered account type, fund it, and buy. The entire process takes under 15 minutes with Wealthsimple, or a day or two with Questrade if you want a more full-featured platform. For ongoing contributions, set up automatic purchases and a DRIP, then stop thinking about it.
Check the latest sign-up bonuses before opening your account. A few of these brokers offer cash bonuses for new deposits that effectively make your first XEQT purchase free.
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