You can make the most of your new stock trading account by taking advantage of a valid Wealthsimple Trade referral code or sign-up bonus.
The current Wealthsimple Trade referral bonus offers up to $200 value.
Alternatively, you could take advantage of the free stock promotion and get two stocks worth up to $4,500 each.
Wealthsimple Trade Sign-Up Bonus ($200)
When you sign up for a new Wealthsimple Trade account here, you receive a $50 cash bonus.
To benefit from this offer, take the following steps:
- Open a new account (offer not available to existing Wealthsimple clients)
- Complete your profile and fund your account with cash using electronic funds transfer
- Trade at least $150 worth of stocks or Exchange-Traded Funds (ETFs) within 45 days of opening it
- The $50 bonus is credited to your account within 7 business days.
- Keep your account funded and in good standing for at least 6 months
If you have an existing investment account at another financial institution, you can transfer it to Wealthsimple Trade.
They cover any transfer fees you pay up to $150.
In total, new clients can benefit from up to $200 in bonuses and offers ($50 sign-up + $150 transfer fee reimbursement).
Wealthsimple Trade Free Stock Promotion (Up to $9,000)
Self-directed investors who are opening a personal non-registered Trade account can get 2 free stocks worth up to $4,500 each.
Here’s how it works:
- Open a new Wealthsimple Trade account using this link
- The promotional code is automatically applied via the above link
- Fund your new account with cash using EFT transfer from your bank account
- Trade at least $150 worth of stocks to get 2 free stocks that are chosen randomly within 7 days of meeting the eligibility requirement
The free stocks are valued at between $5 and $4,500. So, with two stocks, you stand a chance at getting up to a $9,000 bonus!
As per Wealthsimple, most clients get a stock worth less than $50 (x2).
Note that the free stock promotion is not available to residents of Quebec residents, and they get a $25 cash bonus instead.
You can only benefit from one of these promotions: a $50 bonus or 2 free stocks (not both).
What is Wealthsimple Trade?
Wealthsimple Trade is a free stock trading app for Canadians.
It is one of a few trading platforms that allow you to buy and sell stocks without paying trading commissions.
It also boasts more than 1.5 million users and recently also introduced fractional shares.
The accounts you can open include RRSP, TFSA, and personal non-registered investment accounts.
There is a premium version (Trade Premium) for those who want access to real-time quotes and instant deposits of up to $5,000.
This upgrade costs $3 per month plus tax.
Other Wealthsimple Trade Bonuses
You also earn cash bonuses when opening other Wealthsimple accounts including:
Wealthsimple Invest: Open a robo-advisor (i.e. managed investing) account and get a $50 bonus after depositing your first $500.
Wealthsimple Crypto: Canadians can buy and sell 30+ cryptocurrencies using the Wealthsimple Crypto app. Get a $50 bonus when you trade your first $150 worth of crypto.
Wealthsimple Cash: This free instant money transfer app works like the Cash App in the U.S. Get up to a $25 bonus when you sign up using this promo code – XQYRET.
Wealthsimple Trade Referral Program (Up to $4,500)
Wealthsimple Trade clients can invite their friends and when they join, you both get a free stock valued at up to $4,500.
Simply click on the Rewards” button to copy your Wealthsimple Trade promo code or referral link and share it via email, text message, or social media.
The people you refer must fund their account within 30 days of opening it.
Wealthsimple Trade Fees
Wealthsimple Trade has no trading commissions. If you prefer Trade Premium, a $3 monthly fee applies.
For stocks and ETFs listed on US exchanges, there is a foreign currency exchange fee when you buy them using Canadian dollars – up to a 1.5% fee.
Is Wealthsimple Trade Safe?
Wealthsimple Trade is safe. It is a member of the Canadian Investor Protection Fund (CIPF) and your assets are protected up to $1 million against bankruptcy (via Canadian ShareOwner).
The company is also a member of the Investment Industry Regulatory Organization of Canada (IIROC).
Wealthsimple uses bank-level encryption to protect your data/funds, and it is backed by some of the largest financial institutions in the world.
Wealthsimple Trade FAQs
Sign up for a new Wealthsimple Trade account here and trade $150 worth of stocks to get a $50 bonus.
When you sign up via the stock promotion in this post, you get 2 free stocks valued at up to $4,500 each. If you sign up through a “Refer a friend” link or campaign, you get 1 free stock.
Questrade is a better stock trading app for day trading stocks.
Wealthsimple Trade is owned by a legitimate company with over 1.5 million users and 10 billion in assets under management.