You can make the most of your new stock trading account by using a valid Wealthsimple Trade referral code or sign-up bonus.
The current Wealthsimple Trade referral bonus offers up to $175 value.
Alternatively, you could take advantage of the free stock promotion and get up to $3,000 cash to buy stocks or crypto.
Wealthsimple Trade Sign-Up Bonus ($175)
When you sign up for a new Wealthsimple Trade account here, you receive a $25 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 an electronic funds transfer
- Deposit at least $150 within 45 days of opening it
- The $25 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 $175 in bonuses and offers ($25 sign-up + $150 transfer fee reimbursement).
Wealthsimple Trade Free Stock Promotion (Up to $3,000)
Self-directed investors opening a personal non-registered Trade account can get cash of up to $3,000 to trade stocks or crypto.
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
- Fund your new account to get a cash bonus of up to $3,000 within 7 days of meeting the eligibility requirement
The free stocks are valued 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 cash value of around $10.
Note that the free stock promotion is not available to residents of Quebec residents.
You can only benefit from one of these promotions: a $25 bonus or up to $3,000 in cash (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 $25 bonus after depositing your first $500.
Wealthsimple Crypto: Canadians can buy and sell 50+ cryptocurrencies using the Wealthsimple Crypto app. Get a $25 bonus when you deposit your first $150.
Wealthsimple Cash: This free instant money transfer app works like the Cash App in the U.S.
Wealthsimple Trade Referral Program (Up to $3,000)
Wealthsimple Trade clients can invite their friends, and when they join, you both get a cash bonus of up to $3,000.
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
How do I get a Wealthsimple bonus?
Sign up for a new Wealthsimple Trade account here and deposit $150 or more to get a $25 bonus.
How many free stocks does Wealthsimple offer?
When you sign up via the stock promotion in this post, you get up to $3,000 in cash to trade stocks or crypto.
Is Wealthsimple good for day trading?
Questrade is a better stock trading app for day trading stocks.
Is Wealthsimple Trade legit?
Wealthsimple Trade is owned by a legitimate company with over 1.5 million users and 15 billion in assets under management.
What is the best Wealthsimple Trade alternative?
The top Wealthsimple Trade alternative in Canada is Questrade.