How to Bid on the SpaceX IPO Using Wealthsimple

Wealthsimple now lets Canadian retail investors bid on select IPOs at the offering price, and SpaceX is live on the platform. Here is exactly how to place a bid, what it costs, and what to watch out for before you commit.

What Is the SpaceX IPO?

SpaceX filed its S-1 prospectus on May 20, 2026 and is expected to begin trading on the Nasdaq under the ticker SPCX on June 12, 2026. The fixed offering price is $135 USD per share, valuing the company at roughly $1.77 trillion. SpaceX plans to distribute 555.6 million Class A shares in what is expected to be the largest IPO in history by deal size.

Who Is Eligible to Bid?

The requirements are straightforward. You need a funded Wealthsimple Trade account in good standing (non-registered, TFSA, RRSP, FHSA, or other registered account types) with enough settled cash to cover your bid, including a 20% price buffer. Before your first bid, you complete a one-time IPO enrollment flow covering the terms and conditions. There is no minimum order size and no additional fee.

How to Place a Bid, Step by Step

1. Find the SpaceX IPO page. On desktop or the Wealthsimple app, search for the ticker symbol SPCX or navigate to the Upcoming IPOs section. This will bring up the SpaceX offering page with all the key details, including the prospectus link, pricing, and timeline.

2. Review the prospectus. This is the official document SpaceX filed before going public, covering revenue, risk factors, and valuation methodology. Read it before committing capital.

3. Complete the enrollment and confirmations. You will need to confirm three things: that you are not a restricted person (not affiliated with SpaceX or the underwriting banks in a way that would disqualify you), that you understand the risks of IPO investing, and that you will not flip your shares within 90 days. That last point is critical, and we cover it in detail below.

4. Select your account and enter your bid. Choose which Wealthsimple account you want to purchase shares in (TFSA, RRSP, non-registered, etc.), then enter the number of shares you want. The platform will show the required buying power, which includes the 20% buffer above the offering price.

5. Submit your request. Once you confirm, your bid is submitted and the cash is reserved. You can cancel at any point before the request window closes on June 11, 2026.

6. Wait for allocation. On the IPO date (June 12), you will find out how many shares you actually received. Demand is expected to be enormous, so partial fills or no allocation at all are realistic outcomes. Any unused reserved cash is released back to your account.

Why Does Wealthsimple Require More Than $135 Per Share?

The $135 offering price is a fixed target, but Wealthsimple reserves an additional 20% buffer. For one share, you need at least $162 USD in your account. This buffer exists because, in rare cases, the final IPO price could settle higher than expected. You will never pay more than the final offering price, but the cash needs to be available.

What Is the 90-Day Flipping Rule?

This is the most important consideration before bidding. When you agree to the terms, you are committing not to sell your SpaceX shares within 90 days of the IPO. Wealthsimple's policy is clear: if you sell or transfer your allocated shares off the platform within that window, you will be indefinitely restricted from participating in future IPOs on Wealthsimple. They are not preventing you from selling, but the consequence is permanent loss of IPO access going forward. Moving shares between your own Wealthsimple accounts (for example, from non-registered to TFSA) does not count as flipping.

If you are not confident you can hold for at least 90 days, this IPO is not the right move on this platform.

Watch Out for Currency Conversion Costs

SpaceX shares are priced in USD. If you are bidding from a Canadian-dollar account as a Core tier Wealthsimple user, you will pay a 1.5% foreign exchange conversion fee. On a $135 share, that is about $2 extra per share, and the same fee applies again when you eventually sell and convert back to CAD. The round-trip FX cost on a single share would be roughly $4 USD.

There are three ways to reduce or eliminate this cost:

Upgrade to Premium tier by holding $100,000 or more in total assets on Wealthsimple, which gives you a dedicated USD account at no additional cost.
Subscribe to the Plus add-on ($10/month) for a USD account, which lets you hold and trade in US dollars without per-trade FX charges.
Use Norbert's Gambit, which Wealthsimple launched in April 2026 for a flat $9.95 CAD fee. This automates the currency conversion through dual-listed ETFs and can save significant money on larger conversions.

One additional detail: Wealthsimple locks the FX rate at the time you place your bid. If the rate moves against you and your reserved cash (including the 20% buffer) is no longer sufficient, your bid may be cancelled automatically.

Is This Worth It?

We are not commenting on whether SpaceX at this valuation is a good investment. That is your call, and the prospectus is where you should start. What we can say is that Wealthsimple's IPO Access feature is a genuine step forward for Canadian retail investors who have historically been locked out of IPO allocations.

If you are considering participating, make sure you have enough USD buying power, understand the 90-day hold commitment, and have done your own research. For a full breakdown of the platform, see our Wealthsimple review or compare it side-by-side with other Canadian brokerages.

Looking for the best sign-up offers across Canadian brokerages? Check our current bonuses page.